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Once a niche market of their own, today Bitcoin online casinos dominate the greater online gambling landscape. Even online casinos that have operated for decades are now using Bitcoin to make their websites that much safer and more efficient.
Bitcoin itself is evolving at a rapid pace, and the number of casinos that accept BTC is expected to continue growing indefinitely. The first Bitcoin only online casinos were developed and launched between and The current online gaming landscape makes it very unlikely that any regulated US online casinos will be using Bitcoin as a deposit or withdrawal option of the foreseeable future. While many ecommerce companies, like Overstock, Expedia and many others have adopted BTC as a payment method, they are not operating in the highly risky industry of online gaming.
Payment processing is a complicated process as it is for online casinos, and cryptocurrency deposits would only make everything more difficult. This is all subject to change, of course, but is likely not a near term reality. United Kingdom and other non-US online casino players have always been privy to more quickly adapting regulatory atmospheres. Even with this being true, however, there are no regulated online casinos in the UK or elsewhere that have, as of yet, decided to accept Bitcoin.
The financial elements with payments and withdrawals through online gaming in the UK are highly scrutinized, and both players and operators must operate with absolute transparency. It is very possible that UK casinos could allow online players to deposit with Bitcoin, but if this were to happen, it would likely also require comprehensive identity verifications.
Right now, the options for legal online casinos accepting Bitcoin are slim and none. Players have long been petitioning for this to be changed, but there are very stark conflicts of interest between what government sees as a safe online gambling environment and what some players may want. While Bitcoin casino deposits used to be almost instant, they can now take quite awhile before they are fully processed. This is the biggest challenge that Bitcoin is currently facing in its usage at online casinos.
Depending on BTC network volume, your deposit could take hours to complete. Each casino has their own rules in place for Bitcoin deposits, so some may credit you with playable funds more quickly than others. A casino that requires only one or two confirmations on the blockchain will allow you to begin playing fairly quickly.
If the site requires the transaction to be entirely confirmed, however, you will likely incur a wait of minutes, and sometimes even longer. This is one of the primary reasons why some online casinos have begun to adopt other crypto banking methods, like Ethereum and Litecoin.
The potential delays and confusion in transaction times are another reason why government gaming agencies have not been quick to accept Bitcoin as a banking method at online casinos. It could be argued that Bitcoin, as it relates to online casinos, is even more accessible than cash itself.
Due to the number of casinos that have adopted BTC in their payment processing, you may very well have a tougher time depositing and withdrawing in USD than you would with BTC. Simply moving your Bitcoin on and off a casino is not enough, however. If you want to use BTC as a deposit method, you must first obtain the Bitcoin itself. Luckily for online gamblers, Bitcoin is the most easily obtainable cryptocurrency in the world.
You can buy Bitcoin at any number of exchanges for a minimal fee using your credit card or bank account. For non US players, this process is often times even easier.
If you make a withdrawal from a casino in BTC, you can convert it to USD with ease, and then transfer the money into your bank account. For crypto online casinos and players alike, Bitcoin is the true king when it comes to usability. United States Online Bitcoin Casinos The current online gaming landscape makes it very unlikely that any regulated US online casinos will be using Bitcoin as a deposit or withdrawal option of the foreseeable future. Worldwide Online Bitcoin Casinos United Kingdom and other non-US online casino players have always been privy to more quickly adapting regulatory atmospheres.
