Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
Casino laws are among some of the most counter-intuitive in the world. In some regions, you can bet on sites that are hosted outside of your home country, while in other countries, real-world casinos are open just for tourists.
Does this mean that people from regions where this is not that well-regulated avoid betting? Of course not; they just find different ways to place their bets.
One of these ways is accessible through crypto casinos, and here is how they are used to help players avoid restrictions imposed by fiat casinos.
Anonymity and privacy
Crypto casinos make international transactions a lot simpler to handle and manage. After all, in order to receive funds, all you need is a crypto wallet. You don’t have to go to the bank and give them all your personal information.
In some regions, it’s illegal for locals to bet. In other regions, it’s illegal for people to bet in local online casinos. Still, as long as the casino is hosted in another country or region, there’s no law prohibiting it. This legal grey area may sound a bit suspicious, but the truth is that it’s the way in which hundreds of millions of people are betting.
Now, even in this scenario, there are a lot of people who might fear the societal stigma if their neighbors found out they’re betting, which is why the extra anonymity provided by crypto betting seems extra reassuring.
Again, there’s nothing morally wrong with betting, and some might even say that speculating on the rising market without doing much research isn’t much different than betting. Still, these two activities are not perceived the same by the general public.
Most important of all is the fact that these platforms are globally accessible. You see, crypto was always made to be an international payment method, which means that your region doesn’t affect your ability to receive your winnings or make a deposit.
This also means that you get to choose from a lot more options. This allows you to be extra picky and search only for the best options and bonuses that you have available.
Overcoming self-imposed restrictions
Some people have a gambling problem, and other residents struggle with this issue. Now, resolved to solve this issue, they sometimes resort to self-imposed restrictions like GamStop platform. This way, they can blacklist casino sites and be done with it. We’ve mentioned other residents because of the scenario where more than one person uses the same device.
The problem is that this solution is so definitive, and it takes an all-or-nothing approach, which is definitely not the best course of action. The simplest way to explain why this is bad would be to compare it to a crash diet, which almost always creates a Yo-Yo effect (where you return all the weight that you’ve lost and some more).
Now, these restrictions are usually tied to fiat casinos but not necessarily crypto casinos. These are outside GamStop, and they can be quite easy to manage.
How come?
Well, since you can only bet on crypto, you can have an easier job at limiting your spending. Only buy as much crypto as you can afford to lose (or plan to lose in this session). Once you’re done, you’ll have to buy more crypto in order to continue. The best part of it all is that it makes impulse bets more difficult and your self-reliance and self-control more dependable.
Reduced regulatory hurdles
Across the globe, betting laws are some of the most complex, contradictory, and nonsensical laws out there. More often than not, they’re not guided by pragmatism or even morality but in order to get political points for the coming elections and perform moral grandstanding in front of your audience.
Betting is often illegal in countries with the largest betting populations, populations that find a way to bet either way. This means that instead of collecting tax money, you’re pushing your audience towards less verified and vetter platforms. People won’t give up on betting; they’ll just have to find another way. After all, they love to bet and they’ll bet on literally anything.
Crypto casinos operate in a less regulated environment, which, although it may sound a bit scarier, actually has its benefits and appeal. With crypto casinos, you don’t have to do homework every time you’re about to place a bet.
One more thing, because they’re aware that their online casinos appear a bit riskier, and even require extra steps (if you don’t already have a crypto wallet), they’re usually ready to sweeten the pot. This means that you might be looking at potentially higher bonus amounts. This way, taking these few extra steps will be seen as worth it.
