Crypto Casino: Information about crypto casinos and crypto gambling in the UK

Key Takeaways for Crypto Casinos UK

• Legal Grey Area: Crypto casinos operate in a legal grey area in the UK. Only offshore casinos allow UK players to gamble with cryptocurrencies like Bitcoin and Ethereum.
• Advantages: Crypto casinos offer relative anonymity, lower transaction fees, more significant bonuses, transparency through blockchain technology and global payment accessibility.
• Disadvantages: Challenges include a lack of financial regulation, the volatility of cryptocurrencies, no chargeback options, limited choice compared to traditional online casinos, and the absence of UKGC licensing.
• Safety Tips: To ensure safety, players should look for licensed casinos, check for SSL/TLS encryption and be cautious of the inherent risks associated with unregulated crypto transactions.
• Types of Crypto Casinos: The article distinguishes between pure crypto, hybrid, and Provably Fair casinos. Each of these offers different levels of cryptocurrency integration and gaming experiences.
• Mobile Compatibility: Most crypto casinos are mobile-friendly. This lets players enjoy their favourite games and conveniently manage transactions on their smartphones.
• Game Variety: Crypto casinos offer a wide range of games, including slots, table games, sports betting, and live dealer games, making them comparable to traditional online casinos.

Relative Anonymity at Crypto Casinos

Some crypto casino sites enable you to play without giving any personal information away. And because cryptocurrency blockchains only log transactions (without any information about the source of funds), playing online casino games without anyone else knowing is possible. That's not the case if you're using a regular bank account or an alternative form of payment.

This allows many players to join online casinos even if such sites are banned in their country. Of course, this doesn't apply to players based in the UK, but it's still a nifty feature.

Lower Fees Overall at Crypto Casinos

For example, transaction fees for converting UK pounds into Ethereum can be hefty during peak times. However, online casinos love cryptocurrency transactions.

That's because the fees for each transaction from one crypto wallet to another are minimal. This is especially the case when compared to a credit card transaction. Therefore, crypto gamblers won't get a nasty shock when depositing Bitcoin into their casino account – nor when withdrawing their winnings!

Larger Casino Bonuses at Crypto Casinos

Related to the above, an online casino is incentivised to pass on savings from cryptocurrency transactions to players. As you would expect, crypto casino offers come in many forms. Some popular casino promotions are Bitcoin welcome bonuses, a no-deposit bonus on sign-up, unlimited reload bonuses, and free spins every week.

You might even be lucky enough to receive 100 free spins just for playing casino games regularly. Then there are free bets for sports betting, too. It's not uncommon to see a Bitcoin casino welcome bonus worth up to several BTC. And if you know anything about how much that equals in regular fiat currencies, you'll know that it's a very large amount of money!

Transparency via Blockchain at Crypto Casinos

We mentioned that blockchains, which govern several different coins, don't store personal information about the sender or receiver. However, the technology's other feature is that transactions are permanent. Thus, anyone can look up what has been transferred from one wallet to another.

Therefore, if someone disputes a payment, you can show them exactly when and where it happened on the decentralised digital ledger. Also, no one can manipulate the previous records. You can only add to the blockchain. So, no one can change what's happened.

Crypto Casinos and Worldwide Payments

Another important facet of blockchain is that it's available to everyone, including their mother, no matter where they live. Some governments have tried to ban cryptocurrencies and/or coin mining.

However, with some computer know-how and a VPN, nothing can stop you from using crypto to play at an online casino. All you need to ensure is that the online casino accepts UK players, and you're good to go! Awesome, right?

No Financial Regulation in Crypto

While some online casino players see anonymity and decentralisation as positives, there can also be downsides. Online casinos that use fiat currencies must funnel money through banks, so governments will know about it if they look into the details.

However, a pure crypto casino does not need to engage with the fiat financial institutions of the world should they choose not to – nor do they need to follow KYC or AML regulations.

This could lead to you being caught up in an exit scam or rug pull. Therefore, reading plenty of our casino reviews before signing up at a cryptocurrency casino is wise. In this way, you can ensure that it's on the level.

Crypto Casinos and Price Volatility

If you follow the news, you've undoubtedly seen some rather alarming price fluctuations over the years. Sometimes, this is very positive for those holding Bitcoin or any of the altcoins, which tend to surge in value along with the most popular form of crypto.

However, if you happen to be holding onto a lot of coins in one form of cryptocurrency or another, a sudden or unexpected crash could lead to you losing a lot of money. So, do keep an eye on those crypto price changes.

No Chargebacks at Crypto Casinos

When using a credit card from a major bank, chances are they have a chargeback mechanism in place. This is a key feature of the fiat currency system. Chargebacks enable you to ask your credit card provider to recall funds if you believe a rogue actor has scammed you.

However, with Bitcoin transactions, that would be impossible because all transactions are permanent, and there is no one to whom you can complain if something goes wrong. You can speak to the customer support team at your crypto exchange or your crypto casino. However, it's highly unlikely that you will be getting your money back in a similar fashion.

Limited Choice of Crypto Casinos

There's more than enough choice when picking a top Bitcoin casino. However, compared to traditional online casinos, your options are limited. Therefore, you are somewhat constricted, and you might not be able to get all of the features you want compared to playing at a regular fiat casino or sports betting site.

More and more crypto sites are launching all the time, so this one is a bit of a niggly complaint at best.

No UKGC Licensing at Crypto Sites

This is a big one. The main UK regulator, the United Kingdom Gambling Commission, has specifically ruled that online casinos wanting the coveted UKGC license cannot offer cryptocurrency deposits or withdrawals.

Any UK online casino requires UKGC licenses, so you will not find a legal crypto casino based in the United Kingdom. As a knock-on effect of this, you will not be enjoying the safety and security provided by this world-class regulator.

What Are the Differences Between Crypto Casinos and Hybrid Casinos?

There are several types of online casinos, as you may already know. They all vary in how dedicated they are to cryptocurrencies – and some don't allow cryptocurrency payments.

For example, some online gambling websites may accept Bitcoin and other cryptocurrencies for depositing and withdrawing but then convert these amounts into regular fiat money like the UK pound or the US dollar. These websites are similar to many more traditional online casino offerings regarding how you play slots, poker, live casino games, etc.

Other brands will go the whole hog. They provide a gambling site that accepts not only Bitcoin and other cryptocurrencies but also everything from the initial deposit bonus to the crypto casino games, which will use cryptocurrencies.

And then we have Provably Fair Bitcoin casino games that utilise blockchain technology to run the casino games. Here's a breakdown of the many forms you'll find in the wild…

Online Bitcoin Casinos

BTC casinos are the most widely used cryptocurrency gambling websites, so you're bound to discover plenty of online casino sites when searching for a new place to play.

Another thing you'll notice about these sites is that all welcome bonuses, free spins, and other promotions are given in BTC, but Bitcoin games may or may not be available. To better understand why this may be, we must explore two more main categories…

Pure Online Crypto Casinos

Then, we have gambling sites that not only accept Bitcoin and other cryptocurrencies but also do not deal with fiat currencies in any way.

Additionally, the casino offers (along with their wagering requirements), and the games themselves might all be shown in BTC, ETH, or other altcoins.

Therefore, players deposit their chosen cryptocurrency, play the games, and choose the casino offers in the same coin. They will then withdraw any winnings via the same crypto wallet if they choose to do so or designate another wallet. Essentially, fiat is completely ignored, and users of a crypto site do not need to engage with real money at all.

Online Hybrid Casinos vs. Crypto Casinos

As you might have guessed, hybrid casinos are a little bit of everything, but they do not offer the whole experience of a Bitcoin casino site dedicated to that coin alone. Instead, they are more like traditional casinos. But, crucially, they offer the ability to take up deposit bonuses in Bitcoin or other cryptocurrencies.

The most significant difference is that they do not offer dedicated crypto casino games such as Bitcoin slots, poker, or other forms of Bitcoin gambling. Also, while most crypto casinos only show deals in BTC, these sites may also display UK pounds or US dollars.

In many ways, these sites offer a kind of best of both worlds for those who like to mix and match their money. But purists probably want the whole experience offered by crypto casinos.

Provably Fair Online Casinos

For the ultimate crypto gaming experience, you need to take advantage of a growing genre of casino games that take advantage of the foundations of cryptocurrencies. These are called Provably Fair games and pretty much do exactly what's written on the tin.

As you can imagine, they use blockchain technology, which powers crypto, to show players exactly how much they have won by other gamers in all of the previous rounds since the title was first launched.

In other words, in much the same way that cryptocurrency transactions are shown on the blockchain for all to verify and nothing in the past can be amended, Provably Fair games show everyone exactly what has happened. Because of this, players can verify that the return-to-player (RTP) percentages are accurate.

We fully expect that these fair gambling games at crypto casinos will become increasingly popular, although their number is relatively small.

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