Bitcoin casinos are a recent and new trend in the gambling world. Indeed, considering some of the positives that come with carrying out financial transactions in crypto such as Bitcoin, it is easy to understand why this has been so. However, the trust that many people will put in a BTC casino might not be as much as most operators would want. This of course raises the often asked question about the safety of playing at offshore BTC casinos. This post looks into this in detail by raising some salient points about offshore BTC casinos and offshore casinos at large.
Regulatory measures against offshore BTC casinos
For a lot of offshore sportsbooks and betting sites in many countries, it hasn’t been easy to fully operate due to certain legislative and regulatory measures. A good example of this is the United States where the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in 2006. This legislation has ever since been passed and made sports betting and other kinds of gambling significantly tougher. A lot of sites left the gambling market in the United States due to the legislation.
Despite all these, it is important to know that many still stayed. However, it wasn’t easy at all for those that stayed to operate effectively. Till today, a lot of states in the US still regulate casino gambling and online poker.
Common risks associated with gambling offshore
Of the notable risks associated with gambling on a foreign site is the likelihood that the casino where you are playing will clamp down and carry your money with it. This is something that has happened to a lot of people before. However, the introduction of Bitcoin reduces this risk. Unlike traditional offshore casinos, in offshore BTC casinos, you are less likely to lose your money to the site.
Of course, there are also more common risks that you will most likely give when you play at an offshore casino. One of such is withdrawal delay, another voiding of bonuses. Some offshore casinos are fond of voiding bonuses for silly and petty. Furthermore, the processing of payment can be quite poor when you are gambling offshore.
The effect of bitcoin in gambling offshore
As far as offshore BTC casinos are concerned, there is a stronger amount of security and safety for players that traditional casinos won’t give. These are the things that show that playing at offshore BTC casinos is a lot safer than most people think.
One thing generally associated with cryptocurrency use is anonymity. As such, we can say that making use of bitcoin in offshore gambling online is good because all of your financial transactions are kept anonymous. This anonymity is something that a lot of bettors prefer. Another thing about anonymity is that it allows gamblers, especially those from countries with anti-gambling regulations and policies to bypass such laws prohibiting betting offshore.
The drift is that using bitcoin means nobody has the power to stop you from doing anything you want to do with your money. This leverage provided by offshore BTC casinos is one proof that it is safe to play there. This has helped them to continue to receive wide acceptance among individuals in the gambling script. Ordinarily, in a place like the United States, online gamblers will normally have their credit cards rejected if they try to make a deposit online, as a result of the existing federal legislation against using credit card payments for gambling. Doing that despite the regulations is risky and might backfire. However, offshore BTC casinos have changed all of that. With them, you worry less about such regulations and laws.
Use your Bitcoin from anywhere in the world
When you play at offshore BTC casinos, you can do so from any place on the planet without hassle. So as an American, you can play on sites that are not even located in the US. This is another guarantee that it is safe for you to play at offshore BTC casinos.
You don’t pay transaction fees
When you bet with fiat currencies at a traditional casino, you will typically be charged when you make payments. This is not the case when you play at offshore BTC casinos. You won’t be charged any transaction fee because there is no third-party involvement in putting the transaction into effect. In addition to this, you won’t have to worry about delays in making deposits or receiving payouts. Everything happens quickly and effectively. All your withdrawals and deposits get processed instantly.
Hacking or tracking your transactions become almost impossible
One of the risks that you face when you play at traditional offshore casinos is the likelihood of your transactions being hacked or tracked. The good thing is that you don’t have to worry about this when you play at offshore BTC casinos.
Since your details and that of the transactions you make are anonymous and secure, it will be hard if not impossible for anyone to hijack or track them. This security is made possible as a result of blockchain technology which is the backbone of all cryptocurrencies with bitcoin being a prominent one.