Top 5 Countries Where You Can Enjoy Crypto Gambling
Compared to the rest of the competition in the gambling industry, Crypto Gambling is a relative newcomer on the scene. The first Bitcoin Casinos started to emerge after the initial popularization of BTC and among those casinos was of course – FortuneJack.
It took very little time for the worldwide gambling community to notice all the prominent advantages and benefits that derived from blockchain technology and ever since the creation, BTC Casinos have been gaining some serious traction. As it always happens, with the rise of the popularity came factors that intended to halt the progress of the revolutionary technology.
In the beginning, most of the governments and financial institutions were heavily opposing all things crypto and virtual money was banned in lots of places. Today only a handful of countries around the world oppose the concept of cryptocurrencies, but Bitcoin Casinos still suffer because of the unclear gambling regulations in various countries of our planet.
Some famous gambling countries outright ban the technology of cryptocurrencies, like Japan for example. Others fully promote the crypto gambling industry and there are several bright examples around the world. Here are 5 countries with the friendliest Crypto Gambling approach.
Australia
Australia is extremely welcoming to the concept of cryptocurrencies and promotes the use of virtual money on the governmental level. As for the online gambling industry, it’s completely legal for the citizens of this nation to gamble on the casino websites both classic and crypto.
The Bitcoin Casinos are operating in legal jurisdictions placed by the government and they can easily offer their services to the players. Australia might be fully pro-crypto, but they still have tons of regulations that provide safety for the citizens and seize all possibilities of money-laundering.
Canada
Just like the Australia, Canada is also considered to be a very Crypto-Friendly country that has a long history of being very supportive of virtual currency. The crypto gambling industry is completely legal in Canada and is thoroughly regulated. The only limitation here is that the Casino that wants to be operating for the Canadian Citizens must have the national gambling licensing.
The interesting fact about Canada is that it was the first country in the world back in the beginning of the previous decade that passed the official legislation regarding cryptocurrencies. Also, in 2013, the first Bitcoin ATM was installed in the city of Vancouver and today there are more than 200 of those in the country. Overall, you won’t be subject to any regulation when playing Bitcoin Casino in Canada.
UK
It’s completely legal to play at an online casino in the UK, if the gambling service provider applies and gets the UK Gambling Commission (UKGC) issued Remote Gaming Permit. In August of 2016, after much debate and negotiation, the UKGC officially came up with the UK licensed, online casino permission to accept bitcoin and other cryptocurrencies as a form of transaction for both deposit and withdrawals.
To seize all instances of money laundering, and because of BTC’s heavy impact on online gambling popularity, the England’s national bank has been extremely attentive to the blockchain technology and its innovative advancements, even asking citizens to share ideas on ways to incorporate more cryptocurrencies in daily lives of the citizens.
Bitcoin is considered “private money” in the United Kingdom and VAT applies the same as for the physical money. All exchanges for goods and services that accept Bitcoin and other cryptocurrencies are taxed as usual.
France
Another Country that is extremely friendly towards the idea of online gambling as a whole is France. This nation is one of the main inventors when it comes to the history of the gambling industry, because games like roulette and baccarat were created in the streets of 18th century Paris.
Same as the UK, both online casinos and BTC Gambling websites need to obtain the official national license to be able to provide services to the citizens of France. The only different thing is that the government makes great efforts to promote responsible gambling, to keep the residents from becoming addicted to the casino games.
Curacao
Another famous entry into the list is the Curacao, which is known to provide international gambling licenses to many crypto-casinos all around the world. Some of the countries only focus on their own, but Curacao offers regulatory services all around the world and so far, has only been positively reviewed by gamblers all across the world.