Compared to the long-lasting history of the gambling industry, Bitcoin Casinos are a relatively young, yet extremely revolutionary entry. Bitcoin casino websites started to emerge in the first half of the last decade and brought upon the amazing advantages compared to the competition. Although, in the beginning, many gamblers around the world were hesitant to try the new solution, today, BTC Casinos are steadily overtaking all the other entities in the industry. With the popularization of the concept of crypto gambling, players started to take notice when it came to the licensing of the popular Bitcoin Casino websites.
Why is licensing so important?
Licensed Bitcoin Casinos are always more popular and trusted because the regulatory agencies always add an extra layer of legitimacy to the websites in the gambling community’s eyes. Aside from that, there is a guarantee that a legitimate agency will oversee the online casino processes, providing a total guarantee that the BTC Casino is legitimate, fair, and secure to use. We strongly advise that you only use a Licensed Bitcoin Casino to play your favorite games. This way, you will eliminate any unwanted thoughts concerning security and trust.
Which countries license Bitcoin Casinos?
Even though most of the gambling world is well accustomed to the concept of crypto gambling, there are only a handful of countries that truly regulate the BTC Casino industry. Some countries outright ban all things-crypto, others only regulate classic online casinos and some are fully controlling BTC Casinos. These countries are generally all pro-crypto and they promote the use of virtual currencies to the max. The list of such countries includes the United Kingdom, Italy, Netherlands, Malta, Curacao, Greece, Poland, and Belgium. Here, Bitcoin Casinos have clear cut rules and regulations that they must follow to be able to operate.
Threats of unlicensed Bitcoin Casinos
It is generally frowned-upon when the Bitcoin Casino operates without the license and it creates unwanted thoughts in the minds of gamblers all around the world. Some relatively popular BTC Casinos operate that way and state that their partnership with some of the biggest game development companies is proof that the casino can be trusted. Although a prominent argument, this is generally not enough to ensure the total trust of the community. Without a governmental agency that controls the proper operations and fairness, it’s almost impossible to know if the casino can be fully trusted. It might be a fraud website that will cause gamblers to lose tons of money without having the chance to win.