Cryptocurrency gambling in the United States
Over the years, there has been a rise in online crypto gambling across the globe. In most cases, popularity and the question of legality usually go hand in hand. The answer to online gambling legality is not really straightforward when it comes to the US and various cryptocurrencies, such as bitcoin. This is because, in every state, there are different rules when it comes to online casinos and gambling in general, as you shall see further in this article. While some states are floating the possibility of allowing cryptocurrency as legal tender, it is yet to become a reality at online casino sites. The only online casino gambling sites that accept cryptocurrency are based offshore.
What exactly is online cryptocurrency gambling?
But before we discuss any further, let’s see what crypto gambling is. Well, in simple terms, it’s placing bets at an online casino site using some of the most popular digital coins. So, instead of using FIAT money like USD or GBP, you will be able to use cryptocurrencies like Bitcoin, Ethereum, Ripple, Monero, Dogecoin, and Litecoin, to name a few.
Most cryptocurrency online casinos now support crypto deposits across the iGaming space. In fact, in the USA (USA betting guide), some operators are now allowing punters to fund their accounts using BTC or ETH. But you must read the fine print when it comes to online gambling laws in the US, as it’s different in every state.
Crypto gambling in the US
Gambling has been part of the US for a very long time. The introduction of online gambling also saw a rise in gambling revenues across the different states. But in the US, every state is allowed to set its own gambling rules and regulations. For example, in Nevada, sports betting and online poker are legal. On the other hand, a full-on online casino is not allowed. So, when it comes to the legality of online gambling in the US, you have to look at every state separately.
Also, some states like Indiana, Kentucky, and Oregon don’t allow their residents to practice online gambling. These states, however, do offer land-based betting services. So, you can still visit an offline casino and enjoy a safe gambling experience.
Now when it comes to crypto gambling, there are no specific restrictions on the use of digital currencies in online casinos. So, if the state you live in allows online casino gambling, you can use the coins to place your wagers. For example, in Kansas and Texas, you can transact using crypto coins like BTC.
Reasons why cryptocurrency gambling is so popular
In general, crypto gambling in the USA has attracted a good number of punters. So, why is cryptocurrency online gambling very popular? Below are some of the top reasons that cryptocurrency gambling sites are popular:
- IGaming security: for any crypto casino to operate in the USA, they must adhere to the laid gambling regulations of the states they want to offer their services. This way, punters are protected from dishonest operators. Bitcoin online casinos also use a robust security software to ensure online gambling security.
- Quick payment processing one of the best features you can expect to enjoy at a US crypto casino is fast banking processing. Deposits and withdrawals via digital coins are done within minutes. What’s more, they are free of charge. So, you will not have to incur any transaction fees, as is the case with bank transfers.
- Player anonymity in the US, you can be sure of anonymity when playing at a crypto online casino. This is because you will only have to provide your wallet address, and the funds will be credited to your account. So, unlike Visa or MasterCard, you will not have to provide any unnecessary private details to complete the transactions.
- Fair gambling: you can be sure of fair play across all crypto casinos in the US. This is because some casino sites offer provably fair games that allow users to confirm the game’s fairness before placing a wager.
It’s safe to say that online crypto gambling in the USA will only keep rising in the future. This is because many operators are now offering these alt coins for deposits. Also, punters now prefer using BTC to fund their online casino accounts to other conventional payment options as they have more pros than cons, with crypto casinos offering more privacy and cheaper deposits.