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CryptoGames –Spectacular Games, Invulnerable Security, Swift Transactions and Much More!

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Online Gambling is a sort of heavenly delight that can bring endless joy and infinite riches to one’s life. This is where a splendid nature of entertainment and a way to achieve tremendous proportions of cryptographic money merge to convey a grand experience for a gambler. Online casinos are the cutting edge of advancement in the betting industry, which continually improves the quality of entertainment and administrations offered to gamblers. Plus, the amount of web-based gamblers has expanded in parallel to the popularity of gambling sites. This has created a market where the demand for online casinos, that offer acceptable types of services, is extremely high. The extraordinary online gambling site alluded to as CryptoGames comes as a rescuer in the current situation and conveys with it a lot of great services and captivating games that can fulfil the needs of any committed player.

Owned and run by an association known as MuchGaming B.V, CryptoGames is an internet crypto betting site approved and under the domain of the public authority of Curacao. The gambling site has amassed hundreds and thousands of clients and customers from all around the globe. It has accomplished this enormous achievement through its work in providing top quality services and its determination in meeting the expectation of its clients. With an incentive to keep up the exceptional standard of its services and its obligation to its phenomenal customer base, CryptoGames has achieved the appreciation and respect of peers from all corners of the world. With firm determination, CryptoGames wants to improve the nature of its administrations and start an era of flawlessness and heavenly amusement for gamblers all over the web.

Plunge into a world of endless delight by playing outstanding games!

Visitors of CryptoGames are spellbound with its simple yet perfect interface
CryptoGames has designed an impeccable interface for its clients, which has a heap of exceptional features that can make the experience of any player spectacular. The site has an exceptionally easy to use UI and its simplified and alluring design has gotten superb feedback from a dominant part of visitors on the site. The entirety of the sites magnificent highlights and features can be effortlessly accessed and savoured by anybody visiting the online casino. Even first time visitors on the site face basically no difficulty examining and getting to the different pages on the site. The presence of the chat box presents clients with the opportunity of having conversations with each other and the total absence of unnecessary designs grants players the opportunity of investing their complete dedication on their games. Likewise, the light weighted interface allows the games to be played on most devices with constant improvement being made to have better support on mobile phones. Even gadgets with low specs can be used to load and play the games. Customers can flip between games by pressing a couple of buttons and scan their betting history near each game that is being played, allowing them to easily better analyse their session. Clients of the site also have the opportunity of changing themes by getting to the settings situated at the upper right, under “Your Account”. Users preferring a darker theme can switch to “Dark Mode” as a theme and is used by swarms of users on the site. All other important links such as FAQ, Chat Rules and Support link can be found at the bottom.

CryptoGames is a casino that values client satisfaction above all else. The casino has created a library of stellar games that has helped it acquire huge respect and regard from the gambling world. These games have acquired enormous love and adoration from the betting scene through the nostalgic vibe they give off. In fact, many of these antique games have existed sometime before the web transformed into a household name. CryptoGames offers 8 of these stunning games. You may be wondering why only eight games are offered despite being such a big casino. This is because CryptoGames doesn’t wish to impede the focus of players by introducing hundreds and thousands of games. Few selected games allow users to have a better understanding of the game mechanism, which in the long run will help users to make a better profit. The games moreover come with various aides and bearings that contribute immensely in helping players with learning these games in the best way conceivable. The games offered by CryptoGames are – Dice, Slot, Roulette, Blackjack, Lotto, Plinko, Video Poker and Minesweeper.

The games offered by CryptoGames are also immensely popular in the wagering scene for being provably fair. This is where cryptographic techniques can be used to decide if any betting site intrudes with the result of games and players can use these to check outcomes of games and bets. Thus, Provably Fairness is used to determine the credibility of an online casino and decide whether it is absolutely impartial. An easy to understand guide on the best way to check the reliability of bet results by utilizing seeds and hashes is additionally given my CryptoGames. The betting site moreover uses RandomPicker, which is an application that ensures steadfastness of all lottery draws by utilizing cheat acknowledgment procedures. All important data is also open to general public, and can be used to choose the faithful nature of games.

Have a look at CryptoGames Terrific Referral Rewards and Humongous Jackpots!
Throughout its tenure as an exemplary online casino, CryptoGames has seen an enormous spike in player numbers and an overall improvement to the picture and greatness of the gambling site. This is generally a result of the stunning referral reward program given by CryptoGames. 15% of the house edge of the wagered amount is given to players for each referral they make. This referral commission will be given to the player with no conditions attached and won’t be influenced by any outcome of the bets of the referred player.

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Also, Games offered by CryptoGames routinely have incredible big jackpots. These games are always getting explored by serious players who couldn’t imagine anything better than to get their hands on these bountiful stakes! As of now, rounds of Dice and Roulette boast gigantic jackpots and are trailed by players who are carefully looking on to guarantee the loot! The Dice jackpot of Bitcoin remains at a striking 3.75 BTC and will become the prize of a skilled and blessed gambler. Current jackpots of other coins can be found by visiting the jackpot tab of the respective coin.

CryptoGames’s fantastic security conventions will safeguard your priceless funds!  

Dependable safety measures should be taken to deal with the gigantic number of online aggressors who are always ready to loot user funds from ill-equipped gambling sites. These atrocious hackers and aggressors are ceaselessly searching for weak security conventions that they can break in order to achieve their objective of taking cryptocurrency.

CryptoGames has integrated a number of strong security conventions into its system in order to defeat the undertakings of any malicious programmers on the site and to guarantee there is an indestructible layer of security among them and customer funds. The site has presented Two-factor Authentication and SSL encryption into its structure, putting an outright stop to client store theft. This measure is extremely effective in protecting funds even in the case when client account details and password are compromised by the hackers. Moreover, even in dire events when customers have never enabled two factor authentication, compulsory email affirmation ensures hackers can’t pull out any users’ funds without having access to their emails. In conclusion, even a direct hit on the CryptoGames site by atrocious developers will yield no outcome, as CryptoGames stores funds in cold wallets. These amazing security highlights ensure that customer funds are completely shielded and are far from the grasp of any online aggressors of the web.

Relish Uncountable Promotions, VIP Programs, Wagering Contest and Remunerative Events with CryptoGames as the year progresses!
The users of CryptoGames appreciate incalculable events where they are given plenty of free coins, voucher codes, lottery tickets and other captivating prizes! Customers are notified about these novel events through the CryptoGames social media accounts and the Bitcointalk forum. Moderators also host a huge number of custom games during these events that give players the possibility of winning significantly more coins and rewards. Every year different holidays are celebrated with the community at CryptoGames. We can see users participating in those events and enjoying themselves to the fullest. Every Monday Users relish a No Bet Limit event that lifts the boundaries on number of bets a user can place per second and presents clients with a rewarding opportunity to get a higher number of coins as a greater number of bets each second can be set during this exceptional day. Besides, weekly challenges are held where users are rewarded for completing those.

Other than that, monthly wagering contest is what all the ardent gamblers are very interested in since the wagering contest rewards users very generously. Besides, few top users of the monthly wagering contest are also provided with the VIP status. VIP users enjoy wide range of benefits that will last for a month until the next wagering contest winners are declared.


Complete Financial Transactions with ease and comfort with the help of integrated features such as Coinswitch!
Rapid transaction options are crucial in keeping up the consistent flow of users in a gambling site and guaranteeing the site works in tip-top condition. CryptoGames has targeted the areas that can improve financial flexibility inside the gambling site and has made basic modifications that ensure monetary exchanges are particularly quick and smooth. The clients of the site can choose to complete any trades through 9 distinct kinds of cryptographic money. Bitcoin, Dogecoin, Ethereum, Litecoin, Dash, Gas, Monero, Bitcoin Cash and Ethereum Classic can be utilized for any exchanges inside the online casino. A test money “Play Money” is also offered to clients that can be utilized to survey different strategies and methods that the player needs to use without impacting the client’s own balance. These choices guarantee reliable and convenient monetary alternatives and permit clients to absolutely concentrate on wagering instead of stressing over immaterial issues, for example, sluggish withdrawals or deposits.

Players of CryptoGames are not confined to the 9 sorts of Cryptocurrency directly acknowledged by the gambling site. Clients can choose to complete trades utilizing other altcoins with the help of a third party integrated instant exchange that has been presented by CryptoGames. This exchange is known as “Coinswitch” and it tends to be used to deposit and withdraw various kinds of altcoins that are not acknowledged by the betting site. The Coinswitch interface changes any deposited altcoin to a coin recognized by the site. These coins can also be exchanged back to the coin they deposited through the same process while withdrawing. Coinswitch ensures that trades are swifter and are more convenient in CryptoGames and empowers players to save time and energy as they don’t have to contemplate over approaches to exchange their altcoins through an external website. Users can also take advantage of the exchange system within the site. If a user wished to convert his coin at CryptoGames to another coin, the builtin exchange will do it for them instantly.


Final Words
CryptoGames is an online casino that has dominated the gambling industry for years. It has all the instruments necessary to provide glorious amusement and dazzling services to players everywhere on the globe. Its library of nostalgic games has brought swarms of excited players, who love to relish the hypnotizing satisfaction they give. Its security conventions keep client funds away from the grasp of vindictive programmers. Its fine deposit and withdrawal options guarantee a smooth progression of Cryptocurrency inside the casino and assure gamblers that no time is lost in slow transaction and exchanges. CryptoGames is an asylum for both beginner and veteran gamblers and it continues to embark on its journey of becoming the world’s top online casino through its dedication to its fantastic community of users.

Blockchain-Powered Scratchcard Lottery Set to be Launched in Cambodia

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The new system described as the world’s first ‘paper-based blockchain-powered lottery‘ guarantees greater transparency in the embryonic Cambodia gambling sector. Chinese lottery solution provider Hongbo has been granted a license to partner with Cambodian lottery operator Jinxiang to develop a blockchain-powered scratchcard lottery.

The Chinese lottery solutions firm’s initial offer will be a paper scratchcard product known as Goldvalley KHR. Lottery participants will be able to confirm the legitimacy of the lottery scratchcards and the amount payable by scanning the QR code on the card pegged to the blockchain record.

In addition, the printing and distribution of lottery tickets will be monitored through a blockchain-based supply chain dubbed Scratchblock. The production of random digits determines the payoffs of the lotteries. The numbers determine the deployment of symbols that should be matched in order to win a prize on the scratch card product.

Blockchain-powered scratchcard lottery to enhance transparency

In the majority of administrations, the algorithm that decides the administration or randomness of these digits; are strictly supervised by the authority mandated with overseeing gambling in the region. Notably, lottery gambling has only been validated just recently in Cambodia. Additionally, the rush to establish the sector and set up nationwide lotteries has been met by complaints that it runs in a black box.

In addition, the blockchain-powered scratchcard lottery will be monitored using some crucial metrics provided by Scratchblock. The blockchain network will enable data comparisons, such as comparing the prize return rates and the batch numbers of the scratchcards. The metrics help exhibit that the odds are uniformly dispensed out.

Application of blockchain technology in lotteries

The new blockchain-based lottery in Cambodia is not the first time blockchain technology has been applied in the lottery system. Shenzhen’s Welfare (Charity) Lottery system conducted its initial test on the blockchain technology application back in 2019. However, the lottery is electronic and not paper-based.

In conclusion, Cambodia has made use of technology in other areas as well. The Asian nation’s central bank announced that it is creating a central bank digital currency just recently. The central bank aims to improve the liquidity of Cambodia’s legal tender, Riel.

Tron zooms past another milestone with latest Coingaming Group tie-up

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The Tron Foundation and its native cryptocurrency TRX have both been active members in the cryptocurrency space, be it in terms of developments, price, or announcements. On Wednesday, November 6, the Justin Sun led cryptocurrency revealed another positive step taken by the company by announcing its new agreement with the Coingaming Group.

Tim Heath, the CEO of the Coingaming Group, had stated:

“We always work hard to put our customers at the centre of the universe, and by adding TRX gaming we are once again at the cutting edge of what is possible in this space. We are particularly excited to offer a low minimum deposit threshold and zero transaction fees, ensuring Bitcasino.io and Sportsbet.io gaming can be enjoyed by even more players for the first time.”

What has excited fans of the cryptocurrency so much is that popular platforms such as BitCasino.io and Sportsbet.io are part of the Coingaming Group, a conglomerate that is bent upon showcasing the use cases of digital assets. Tron has been a leader in the cryptocurrency gambling world. Outperforming its rivals, such as Ethereum and EOS.

The gambling sector is so big that the total transaction volume across all blockchains in the third quarter of 2019 amounted to a whopping $2.03 billion. This, however, was a 40 percent drop from the holdings in the second quarter, but some members of the community claim that the industry needs to be cut some slack because of the recent bear runs.

With the latest partnership between Tron and Coingaming, users will be able to enjoy a low minimum deposit threshold and zero transaction fee. That means BitCasino.io users will now enjoy the industry’s lowest entry levels via Tron (TRX), which, in the long-run, will bring world-class online gaming to an even broader audience.

With a minimum deposit of only 100 TRX (around $2) and no transaction fee, it would be easier and cheaper than ever before for users to bet and play using Tron. This was done in a bid to bring in more first-time players into the field. Justin Sun was not too far in showering praise, with the CEO adding:

“One of the Tron Foundation’s core missions is to support growth by providing engaging, real-world use cases for TRX. We’ve been aware of the market-leading gaming brands operated by the Coingaming Group for some time now; Bitcasino.io and Sportsbet.io are fantastic examples of what is possible when crypto-led products put the customer above everything else.”

TRX holders have been ecstatic after the announcement, and many proclaimed that this was the first step in ”decentralizing the web” and its applications.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Crypto analyst predicts Bitcoin market cap could hit ‘trillions’ as gambling and gaming industry grows

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Multiple industries have made it a point to bring cryptocurrencies into its fold with gambling and betting applications taking the cream layer. Gambling apps have always been associated with Tron blockchain, but Bitcoin, the world’s largest cryptocurrency, has also been a prime candidate in promoting the industry.

In a recent tweet, ‘themooncarl,’ a cryptocurrency enthusiast talked about how Bitcoin is on its way up by saying:

“When you see the size of the poker industry, gaming industry and the forex market compared to #Bitcoin, it gets obvious that we’ve seen nothing yet.

The market cap of #BTC is going to $trillions.”

Many users in the space have always talked about how cryptocurrency will reach its peak in mainstream applications. But, this latest tweet seems to have stuck with a lot of members because of the growing use cases. Themooncarl was also supported by another user called the internet platypus, who replied:

“Gambling is a great use case for Bitcoin. Lightning Network games are fun with instant micro transactions, I see a big future.”

Looking at statistics, it is pretty evident that some crypto holders have taken the digital asset world, especially after the keen focus taken by cryptocurrency organizations. Bitcoin was the surprise entrant into the field after Tron; the Justin Sun founded cryptocurrency had made its forte. In 2017, the gaming industry was worth $18.4 billion, with the US gaming revenue forecasted to reach the $230 billion mark by 2022. If the prediction is met, the gaming market in 2022 will become the largest trading market in the world.

China, one of the largest gaming markets on the planet, is expected to register a CAGR of 14 percent during the forecast period of 2019-2024. China being a mobile-first country constituting the world’s most extensive mobile subscriber base, and owing to the rapidly rising popularity and increased adoption of mobile games and eSports in the country, the market is expected to witness growth during the forecast period.

The online gambling industry has taken the internet by storm, too, with sources claiming that the total market size is expected to reach $102.97 billion by 2025. This growth will also register a CAGR of 11.5 percent within the same time period.

The above forecasts certainly lend a helping hand to Bitcoin and other cryptocurrencies because of the routine adoption news in the digital asset world. As we write this, the Bitcoin price stands at $9325.07. At present, the most significant cryptocurrency in the market holds a total market cap of 168.09 billion USD. The crypto king also boasts a 24-hour market volume of $21.89 billion after a stellar growth last week promoted its position on the charts.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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TRON Casinos: Top Gambling Tokens of 2019 to Earn Free Dividends

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TRX is the master of gambling in cryptocurrency, as we can see a massive movement in gambling on Tron blockchain. In recent times, gambling has really grown on the Tron ecosystem, and according to a study, there is an enormous rise in the gambling volume of TRX.

Despite being stuck with critics from its very own community, Tron keeps up entering into a more significant phase where it continues to grow further. With crypto and blockchain technology influencing different industries, the Justin Sun-led project has made immense progress in different gambling casinos and Dapps that have launched on the TRX network.

Through these Dapps, the users can win some big prizes including the Tron based TRC-20 tokens from the casinos. Just like mining that’s a bit technical where users can earn Cryptos through solving complex mathematical problems, users can mine TRX by playing games on the Tron network through casino Dapp tokens. Moreover, users can also stake or freeze their respective tokens to achieve dividends that are often paid out daily.

So those Tron based gambling tokens can really make you win a handsome amount of money. Specific tokens are best to opt for 2019 and the upcoming time. So, let’s have a look at four of the very best ones.

WinK.org

The first (in terms of being the very best) gambling token on Tron network is Tronbet, now known as Wink – and it is the leading gambling token in the market.

The key for choosing WinK is that it has been paying the longest dividends, which makes this Tron blockchain-based casino a safe option. Moreover, it has a wide range of games that provide users an opportunity to win more and more dividends from different sources.

The gaming token also provides with its very own scaling solutions for the games that make it a fast and cost-free ecosystem. With all the features in the bank, WinK is at the top of the table for all the blockchain gambling lovers.

VCOIN (tron.cryptovegas.net)

Vcoin is the native token of ‘TronVegas.’ The in-house coin is another great gambling token that has an average rate of 3K+ daily users. On the tron.cryptovegas.net, users can log in and earn VCOINs via playing several games available on the platform.

Despite the fact the VCOIN is still new and hasn’t been through much stable trading phase, it has witnessed a rise in its value, recently. So those looking for a casino token with an evergrowing user-base, VCOIN is the one to go for.

Tronace.com

The TronAce backed casino token, Ace, seems to keep growing and boasts a significant user following alongside a popular incubation network. It is an open-source network that will play a key role for developers and empower them with the ability to launch and distribute the Dapps. The only reason to develop this token was to attract more developers so that they can create more games on the TronAce platform.

The best part is that the profit of TronAce will have a split of 70% gets distributed between holders of the token in the next distribution phase. That all makes Ace an excellent token to buy and make an investment in among other top crypto gambling tokens.

PLAY (play.goc.network)

The Tron-based gambling token available on Play GOC network is yet another major casino token. Play token is a sound investment for the long-term race as it can give holders massive returns in the long-term progress. Through the casino token, PLAY users can play different games and enjoy winning rewards alongside substantial dividends.

As we see different games coming on the network, the users are increasing day by day. With a current number of over 2,700 users on the PLAY network, it looks like another decent token to earn.

What’s UP for TRON?

As we see a large amount of volume increase in TRON gambling, it is set to turn things on for Tron ecosystem in the long-term. Online gambling is a big industry, and with Tron entering this industry with a bang, it will attract a large number of users that would help the growth of the Sun-led network as a whole.

However, things have been not working in favor of Tron lately, but the continuous DApp growth is surely good progress for Sun-led crypto, and soon, it is expected to grow with a higher pace.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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TRON on the march: TRX gambling volumes soar to $14 million, reveals a study

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Justin Sun, the immensely gifted, especially in the area of marketing, self-promotion, and hype raising, but somewhat controversial tech entrepreneur from China/Singapore founded TRON (TRX) in 2017. It is a cryptocurrency that powers the blockchain-enabled decentralized protocol.

In a nutshell, the TRON platform offers vast benefits to the developers of decentralized applications for the gaming and gambling industries. Among those advantages is the capability for creating provably fair blockchain-based casino games.

To about its market performance, TRON occupies the 14th position on CoinMarketCap with a total market capitalization of $1,14 billion and the circulating supply of 66 billion TRX, as of writing.

DApp developers and content creators get rewarded with TRX for their contribution in handsome amount daily as this cryptocurrency is widely used as a betting and payment vehicle in numerous online gambling platforms. Among such platforms is 1xBit, a fully crypto-minded sportsbook, and online casino. Of course, 1xBit is not the only way to bet online using TRON as there are other options, too, but it is one of the most trustworthy ones.

$5 billion worth of Tron (TRX) to fuel the casinos in 2019

Naturally, TRON has been taking the world of online gambling by storm lately. According to a recent study, conducted by bestTRONcasinos, the outlet that provides comprehensive reviews of online casinos that incorporate TRX, the overall volume of TRX that is being gambled on a daily basis across dozens of platforms amounts to the equivalent of $14 million.

Judging from this statistical data, TRX has already outperformed Ethereum, not to mention the other less significant cryptocurrencies, with regards to the popularity among gamblers. Although the leading position still belongs to Bitcoin, TRON continues to gain momentum. The same study claims that a total of $5 billion TRX is going to be gambled away over the current year.

The representative of the analytical website said that 2019 has been overwhelmingly successful for TRON so far, as it continues to gain unparalleled traction among crypto players throughout the world.

Also, the fact that many TRON-based blockchain games introduced a profit-sharing model, with dividends being paid in TRX, works in favor of this cryptocurrency. And although the gambling industry, in general, had been somewhat reluctant to incorporate TRX in the past, this situation is starting to shift before our eyes.

1xBit greets TRX holders with a treat

1xBit is among online gambling platforms that had welcomed TRX with open hands and included this young, yet already well-established cryptocurrency, in the list of its 20+ accepted cryptographic coins. And to make the playing experience of its users even more prolonged and captivating, 1xBit offers an incredible welcome package of up to 7 BTC.

All registered players who deposit a minimum of 5 mBTC will be eligible for this fantastic bonus that applies to both sports and casino betting. Feel free to deposit TRX, or any other accepted cryptocurrency, to become a member of the ever-growing crypto gambling community.

Affiliate Disclosure: We have used the affiliates links of 1xBit in this post. Should you decide to get started with 1xBit using the links in this article, we may earn a little commission at no extra cost to you (that will help us keep the site running well).

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Gambling and cryptocurrencies: Is this a legal match? It depends

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Unless you spent the last few years marooned in an abandoned island, you must have noticed how the online gambling industry has exploded. In fact, it’s one of the industries on the internet with the highest degree of expansion. And it’s happening everywhere, not just in the world’s traditional gambling hubs (Curacao, Monaco, Las Vegas, etc.).

This is happening over the internet, which is to say that it’s occurring in the whole globe at the same time, it’s becoming something of a headache for many of the world’s governments who know they have to do something about it but don’t have the first idea of where to start.

The problems have to do with legal voids regarding the lawfulness of online betting in different jurisdictions which sometimes are national, but sometimes are regulated by states within a country and not by the federal government.

Very few individual states in the US allow gambling activities (Delaware, Las Vegas, and New Jersey) which is slightly weird as the US is probably the world’s largest consumer of gambling products.

The recent months and years have seen some of the states adopting a more progressive position on the subject and legalizing online casinos and sports betting for residents. This is not an altruistic move.

Keep in mind the colossal tax revenue advantages that such a move gives each state. It’s to be expected that, sooner or later, every state in the union will legalize online gambling in some way.

Digital Assets and Online Gambling

If finding the correct way to deal with online gambling wasn’t tricky enough for the world’s governments, there’s a new ingredient that could potentially make things even more intricate.

Over the last decade, all kinds of new technologies have appeared in the world. Chief among them has been the advent of cryptocurrencies, courtesy of Satoshi Nakamoto, and since digital assets are meant to fulfill the same uses as physical money, betting is one of the things you should be able to do with them. The question then becomes: is funding a gambling account with a digital asset legal?

Let’s explore a little context. Cryptocurrencies are produced by a technology called “blockchain technology.” That’s what you find if you look under any digital asset’s hood.

In a very concise definition, a blockchain is a decentralized database (or ledger) distributed uniformly over a network of computers. This database keeps the record of the coin transactions in the system, and it can’t be revised or tampered with because every node in the network maintains a full copy.

The blockchain way of doing things makes a lot of people nervous. It bothers governments because there is no room in a blockchain for central authorities. Things just can’t be steered in a particular direction.

It also bothers traditional financial institutions such as banks, or credit card processors because cryptocurrencies do away with conventional banking services. Each country has to decide whether the use of altcoins is legal or not within its national territory, and the positions taken so far by many governments in the world go from the very friendly (Malta) to the openly hostile (China). Some countries are struggling to find a balance, but most of the nations of the world are still undecided (or indifferent) to the subject.

The online gaming industry is a microcosmos of the same phenomenon since it’s also trying to find a way to deal successfully with the very same issues regarding digital assets. It’s entirely possible (even probable) that conventional gaming sites will start accepting Bitcoin soon, and that it could become the casino cryptocurrency of choice.

That would make sense because it’s convenient for the gambling sites as the fees are low, transactions are fast, and anonymity is virtually guaranteed by the blockchain technology.

Legality in some key countries

While it’s impossible to anticipate the future, one thing we can do for sure is taking a moment to review the current positions on gambling and crypto by some of the most critical countries in the world.

The United Kingdom: gambling is an old and honored British tradition. The English invented insurance as bets, for instance, so betting is regulated but allowed. There is the UK Gambling Commission which supervises the industry.

First and foremost, if you want to operate an online gambling site in the UK, you need to have a proper license (issued by the UKCG). If you hold the license, you are free to accept digital assets as a means of funding betting accounts.

Australia and New Zealand: Not a single country, of course, but they share similar policies. In Australia, there is the Interactive Gambling Act of 2001 (IGA) which regulates all online gambling operations. Under that law, online sports and race books are legal but other than that, the law forbids to operate online casinos within the country.

Australian residents can, however, use offshore services if they so wish. Also, most Aussies can use digital assets when the local jurisdiction allows it, and not all local authorities are friendly in that regard.

The Northern Territory Racing Commission (NTRC) has banned all use of cryptocurrencies by its residents. In New Zealand, all residents are allowed to gamble offshore (as stated by the Gambling Act of 2003). But cryptocurrencies are not regulated (which seems to mean they’re legal just because they’re not explicitly banned), so the decision of using alternative coins rests with the offshore service providers mainly.

The United States of America: the legal status of gambling (online or offline) is very frustrating. The authority to legalize these kinds of activities doesn’t belong to the federal government, but it’s decided by each individual state, which complicates things very much. Most states sill hold an exceedingly conservative position on this issue.

Gambling is legal in three states only so talking about using digital assets for gaming is little more than merely academic as the notion can’t really be tested under the current conditions. In 2006 the Unlawful Internet Gambling Enforcement Act (UIGEA) made it clear that banking electronically is downright illegal.

This position is clearly anachronistic, and it doesn’t mention cryptocurrencies at all. How could it? This law was promulgated in 2006 and Bitcoin came online only three years later, so it wasn’t under the law’s scope at all.

So the legality of betting with digital coins is somewhat undefined. But the best bet would be to play it safe and assume that, since digital money is indeed a form of electronic banking, it’s not legal.

Canada: the Canadian laws are quite similar to those in Australia and New Zealand. No law is in place that forbids Canadian citizens or residents from using cryptocurrencies to fund offshore gambling accounts (offshore being the key word) as long as the appropriate jurisdiction considers it legal.

As you can see, there are all kinds of positions about cryptocurrencies and gambling from country to country. Let’s remember that governments have never been able to legislate ahead of technology.

It’s always been the other way around, and the cryptosphere is a relatively new development on the planet as it’s barely a decade old. Governments usually take longer times even to notice (let alone acknowledge or legislate) new technologies and their consequences.

The way things are right now, the responsibility is yours. You will need to find out all the legal information relevant to your country or state of residence, read it, understand it. If you choose an offshore gaming service (which would be the natural choice since most betting websites are headquartered in only a handful of countries), you’ll also need to understand the laws of the website’s country. And then you’ll be able to decide if using digital money to fund a gambling account is a legal activity for you.

Gambling online can be a lot of fun, and using cryptocurrencies for that makes it even more enjoyable and exciting. But it’s crucial to decide prudently, in a way that will keep you out of trouble.

Image courtesy of PixaBay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.