Bitcoin gambling is very similar to traditional casino gambling. Bitcoin casinos have increasingly grown popular. Gambling in crypto has some vast positives, including security and privacy. When a player deposits with bitcoin, there is a record of each transaction that they make. This permanent record of transactions is permanently recorded in multiple servers worldwide, keeping a reliable digital paper trail. Each transaction is securely encoded, making your financial exchanges extremely safe. The Bitcoin casino world has become one of the most popular decentralized currencies in the iGaming industry.
Legality of Bitcoin
In the 21st century, the breakthrough after the internet is bitcoin. Bitcoin was invented in 2008 with a 0 value. Its present value is in lakhs. Bitcoin is a digital currency. It can be used in any country because of its global acceptance. It is in the form of a computer file stored in the digital wallet. The originator of Bitcoin is still unknown. There are about 18 million bitcoins extracted to date. Bitcoin mining is a virtual process in which miners solve a complicated mathematical equation. The correct equation leads to bitcoin.
In India, the Reserve bank of India is consulting with different ministries to bring up an exceptional framework for all cryptocurrencies, especially bitcoin. In 2018, the reserve bank of India issued a notice to all financial institutions not to use digital currencies. However, in 2020, the supreme court ruled against this guideline, and all restrictions regarding bitcoin casino world are waived in India.
Is Bitcoin Casino Legal?
With the waiving off of restrictive guidelines by the Reserve Bank of India in march 2020, the use of bitcoin gambling is entirely legal. Although there are no clear laws regarding it, the ruling has enabled the use of bitcoin instead of money in the casinos of India.
Gambling License of Bitcoin Casino
Like the standard gaming software, online bitcoin casinos are included in skill-based activities rather than business or trading. The mere use of bitcoin instead of money has no impact on the law. So, if it is used virtually through gaming, the requirement of the license is optional.
Bitcoin Casinos Operable in India
Presently, there are a lot of online bitcoin casinos in India. Here we have a list of top online casinos which trade in bitcoin games-
1. Pure Win
Pure is one of the top bitcoin casinos in India. It was earlier known as a pure casino. The overall website is minimalist, and its site is straightforward to use. It is available in 3 languages – Hindi, Tamil, and English. The popular bitcoin casino games consist of traditional Indian games like Andar bahar, slot and table games, rummy, etc. It includes live roulette, blackjack, baccarat, and much more from top game providers.
Appropriate spin complex blockchain-based solution by TruePlay to maintain the transparency and security of the players in terms of bitcoin gambling.
2. Fair Spin
Techcoren Holding B.V. owns fair spin. Although the licensing is optional, it holds its license under Curaçao eGaming. They very frequently offer a wide array of frequent tournaments, promotions, and giveaways. The instructions in fair spin are available in eight languages. They also have a massive bonus program to encourage traffic to their website.
3. Royal Panda
The royal panda got its license from the Malta Gaming Authority. The site is relatively new but is known for its highest transparency and security as it uses SSL encryption. It has a different range of games, including blackjack and roulette games, Casino, Hold’em, Texas Hold’em, Red Dog, and many more. Furthermore, they are also affiliated with eCOGRA as a third-party security tester to make it safer for its users.
4. 10 Cric
The best part of casino-x is that they have an Android and iOS App amongst the popular bitcoin casino games. They are available in multiple languages, including Japanese, English, Italian, Portuguese, etc. Additional advantages include 24/7 support via live chat, Meets eCogra standards of fairness, Short, uncertain time.
ELK Studios, Pragmatic Play, NYX Gaming, Evolution Gaming, Vivo Gaming, Net Entertainment.
6. Joo Casino
It offers a wide range of gaming options, including Belatra games, Bet2tech, Betradar, BGaming, BigTimeGaming, Booming Games, Booongo, and Betsoft Gaming, etc. They are affiliated with various third-party organizations to ensure the safety of players- GamCare, Gambling Addiction, and Gambling Therapy.
The book is owned by Globonet B.V, and it offers more than 3,000 games, making it a very lucrative hotspot for gamers. They use 256-bit SSL encryption to maintain the privacy and security of their users. The casino is restricted in around 70 countries, including Afghanistan, Albania, Algeria, Aruba, Australia, Bahrain, Belgium, Belize, Bonaire, Brunei, Bulgaria, Cambodia, China, Colombia, Costa Rica, Croatia, Cuba, Cyprus, Denmark, Egypt, Ethiopia, Falkland Islands (Malvinas), France, French Guiana, Guam, Indonesia, Iran, Iraq, Israel, Nepal, Netherlands, etc.
Why use Bitcoin over cash?
Bitcoin has been a controversial topic ever since it was invented. However, it has shown many advantages in gaming over ordinary money. For example, some are anonymous and private, free of banking fees, security, speed, not affected by inflation, etc.
How to use Bitcoin in Online Casinos?
Using bitcoin in gaming is basic. You have to first open a digital wallet. Then you have to add the bitcoin money that you already have into that wallet. Then, you can use that digital wallet just like a regular bank account to transact in bitcoins for online games. The amount you lose will be deducted from that wallet, and the winnings will be again added to the same.
The use of bitcoin casino games has always been a head-turner for the Indian audience. While more and more countries are looking at Bitcoin games positively, India has an entirely different attitude. Nevertheless, it is completely legal, and people are making a butt load of money developing online casino software.
Mobzway is a superb option for developing online gaming software that supports bitcoin. Mobzway Technologies has been a part of most of the best bitcoin casino companies. It has grown into very successful apps for them. At Mobzway, they have a group of experienced engineers and developers that has been tracking down the use of bitcoin casino apps and enhancing its safety in online gaming since day one. Additionally, they offer a ready-to-live solution making their software a very economical purchase. They have the best engineers and developers in their team who have always been the first to integrate new gaming features into their Online Rummy Software. Additionally, these new iGaming solutions will cause a considerable dent in the bank accounts of the business persons who want these updates integrated into their apps.