NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

How Will Bitcoin Affect Online Casinos?

newsbtc
newsbtc
5 years ago
3 mins read
betting, bitcoin, casino, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A year ago, the average man or woman in the street had never even heard of Bitcoin, yet today, there are cryptocurrency headlines all over the popular press. Part of this is no doubt down to recent events in Japan and there is also the fact that prices have been skyrocketing since the beginning of the year at a rate unseen since 2013. On that occasion, a dramatic rise was followed by an inglorious fall, but four years on, the sector has reached a stage of maturity where many expect the growth to be sustainable.

A whole variety of industries are now beginning to take Bitcoin seriously as a payment method, and this will only serve to increase its profile, popularity and value. But the industry that stands to gain most is the online gambling world. As the number of online casinos that accept Bitcoin rises, new doors are being opened that bring greater opportunities to both the casinos themselves and the gamblers who visit them.

Broader customer base

Perhaps the biggest impact of the Bitcoin revolution is that it potentially opens the doors to some truly staggering new markets. The USA has always had a strange relationship with gambling. On the one hand, it is home to Las Vegas – need we say more? But on the other hand, most states do not allow casinos, and there are some strange laws surrounding online gambling.

Put simply, the Unlawful Internet Gaming Enforcement Act states that US banks are prohibited from processing payments to gambling sites. There is an important distinction here – it is not illegal for a gambler to pay money to a gambling site, but it is unlawful for a US bank to process such a payment. This has led to US citizens seeking all sorts of workarounds, such as Western Union money transfers and prepaid debit cards, all of which have ultimately been blocked.

There is nothing the authorities can do to restrict the use of Bitcoin, however – at least not yet – and this looks like the most promising method yet for allowing those in the USA, Russia and other countries with these sorts of limitations, to enter the world of online casinos.  

Tax savings

Another major draw of the Bitcoin casinos is that all winnings are tax free. While most jurisdictions (such as the USA) levy taxes on both physical and online casinos, the fact that Bitcoin transactions have the anonymity factor mean that it is currently impossible to tax your winnings.

Better payouts

The strength of Bitcoin against physical currencies means the potential gains are huge. And these are amplified further by the fact that Bitcoin casinos are operating at a far lower edge They can afford to do this because their overheads are so low, and they can bring in more than enough revenue to be highly profitable through advertising, data sharing and selling premium services.

The future of casinos?

With all these advantages, you might think the days of conventional casinos are numbered. However, it should be noted that the tax and payment loopholes will not necessarily last forever. Increased regulation is certain to be forthcoming, as the lawmakers work to catch up with the technology. In the meantime, however, Bitcoin presents huge advantages to everyone involved in online casinos.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

dHealth Intelligence Launches a Medical-Grade AI Agent Engineered for Privacy and Trust

dHealth Intelligence Launches a Medical-Grade AI Agent Engineered for Privacy and Trust

A revolutionary convergence of AI and blockchain is finally delivering practical solutions for everyday healthcare users. dHealth has unveiled a...

ericdunne519 4 days ago
D’CENT Wallet Launches GasPass, Bringing Gas-Free Blockchain Transactions

D’CENT Wallet Launches GasPass, Bringing Gas-Free Blockchain Transactions

D’CENT Wallet, the hardware wallet maker best known for pioneering biometric crypto security, just unveiled GasPass. The feature removes one...

Aaron Walker 5 days ago
Forget High Fees, Volatility, and Speed Issues - SpacePay's New Solutions Could Change Crypto Payments Forever

Forget High Fees, Volatility, and Speed Issues – SpacePay’s New Solutions Could Change Crypto Payments Forever

Imagine buying a cup of coffee with crypto and watching the cashier wait 10 minutes for your payment to confirm....

ericdunne519 6 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

BlockchainFX Brings You the Best of Solana (SOL) and Cardano (ADA) Trading:

BlockchainFX Brings You the Best of Solana (SOL) and Cardano (ADA) Trading: Here’s How

ericdunne519 7 hours ago

GBC Mining Platform Could Benefit as Saylor Predicts Bitcoin’s “Smart Move Up” by Year-End

ericdunne519 2 days ago
XRP and Solana Investors Eye SpacePay for Q4 Gains, Here's Why

XRP and Solana Investors Eye SpacePay for Q4 Gains, Here’s Why

ericdunne519 2 days ago

Premium Sponsors

Press Releases

  • イーサリアム...

    18 minutes ago
  • 市場のセンチメントと、10万ドルへの道筋

    ビットコイン...

    1 hour ago
  • シバコイン...

    2 hours ago
  • パイネットワーク...

    3 hours ago
  • Крипто китовете напускат Shiba Inu заради този токен на цена 0,00000012 $ с цел 25 $

    Крипто китовете напускат Shiba Inu...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.