With the entire world slowly shifting to a more virtual mode of life.
It was only a matter of time before the gambling industry adopted virtual currencies as well. While crypto gambling is a relatively new space, it has quickly become extremely popular among regular gamblers and has even brought new people into this space.
Let’s dive into what exactly is crypto gambling and how it is regulated worldwide.
What is Crypto Gambling?
Crypto gambling refers to the use of digital currencies or cryptocurrencies instead of physical money when gambling.
The most popular crypto used for gambling is Bitcoin. Crypto gambling ensures that you can remain anonymous while making secure transactions on popular crypto gambling sites like NitroBetting. This is certainly the future of the gambling industry.
Is Crypto Gambling Regulated?
Since crypto gambling is a relatively newer sub-category in gambling, it has yet to be properly regulated in most jurisdictions.
The use of decentralized blockchains would mean that although this industry isn’t properly regulated, you can still be safe from many fraudulent activities.
As long as you stick to popular crypto gambling sites like NitroBetting, you don’t have to worry about getting scammed and losing your hard-earned coins.
Crypto Gambling Regulated Jurisdictions
There are a couple of jurisdictions that are known for regulating their crypto gambling sectors. These nations have adopted virtual currencies and are regularly ensuring that their citizens don’t partake in what is not good for them. Some of them are as follows:
Malta: Malta is the most popular EU jurisdiction when it comes to crypto gambling.
You have to register to legally participate in crypto gambling in Malta. You also have to pay a license fee of €8,500 every year, along with gaming taxes that vary according to different gambling conditions.
Curaçao: If you’re looking for a more efficient jurisdiction that is regulating its crypto gambling sector, you might want to check out Curaçao. This jurisdiction is known for being very fast in the registration process and they are also budget-friendly.
They will ensure you gamble with regulated bodies.
Isle of Man: The Isle of Man is also a popular destination for casinos that are looking to register themselves for regulations. However, they do take a very long time in the application process so you’ll have to manage your time accordingly.
You have to pay an annual gambling fee and a lot of taxes.
Antigua and Barbuda: While Antigua and Barbuda hold a very respectable place in the crypto gambling industry, they are very expensive and these prices reflect on their regulated casinos as well.
If you’ve got the money to spend, they can provide you with many safety benefits in the long term.
Should You Partake in Crypto Gambling?
Crypto gambling provides you with a more safe and more secure way of playing with your money.
You can remain anonymous and no longer have to worry about your identity being compromised. So long as you stick to trusted sites like Nitrobetting which has been operating since 2012 and is regulated as well, you should be just fine.