Why Bitcoin Steals the Show for High-Rollers in 2021
You may not have given much thought to betting with Bitcoin in the past, instead preferring to wager using your tried and tested FIAT currencies. However, there are several reasons why you may want to make the switch to BTC betting, especially if you are a high roller. In a world of ever-increasing regulation, the internet gambling world is changing, and for some, the changes are hard to adapt to. Allow us to present an alternative solution right here.
Bitcoin Betting Is on the Rise
Firstly, let us explain that betting with Bitcoin is no longer a niche option, as it was half a decade ago. Gambling at top casinos with Bitcoin no longer involves playing a handful of in-house, proprietary titles – far from it. Nowadays, many of the online casino world’s leading software providers have made their games BTC compatible, allowing you to not only deposit and withdraw using Bitcoin but to actively bet with them, too. Moreover, these cryptocurrency casinos are also fully licensed, regulated, and legit. Bitcoin betting is very much on the rise.
New Regulation Changes the Game
If you consider yourself a high-roller, and you are betting in one of the countries where online gambling is regulated, then you will no doubt have noticed a few changes of late. National gambling commissions and licensing authorities, such as the United Kingdom Gambling Commission (UKGC), have consistently tightened their regulations and rules, dictating what a casino can and cannot offer to its members.
Many of these changes apply to FIAT currencies, and they can include deposit caps to ensure that players do not overspend. This is terrible news for high rollers. While these limits can put an end to high rollers, they do only apply to FIAT currency payment methods. As a cryptocurrency, Bitcoin is often immune from them.
Not All Bonuses Are Claimable
It is not just deposit caps that have presented a hurdle for high rollers. Many heavily regulated casinos have now had to implement measures that state that if you deposit with selected payment methods (often specific e-wallets), you won’t be eligible to receive deposit-based bonuses. Of course, high rollers usually take full advantage of these to bolster their balance. As Bitcoin is a cryptocurrency, it is again immune (for now) from these measures.
The New and Improved KYC Process
Part of the online casino world’s move towards high regulation and strict responsible gambling policies means that the KYC process is now in force more than ever. This ensures that players must prove their identity in a bid to protect against money laundering, identity fraud, and underage gambling. Make no mistake about it – this is a good thing that helps protect players and casinos. However, some casinos have taken this to the next level.
Overly invasive Know Your Customer processes, or those that are difficult to complete, are as much a hindrance to casino players as they are a benefit. For some players – particularly those playing at so-called international, foreign, or offshore casinos – an overly challenging KYC process can be one hurdle too far. Betting with Bitcoin online allows you to eliminate this issue. As BTC betting is largely anonymous, most crypto casinos have a considerably basic KYC requirement, allowing you to quickly hop through it and get back to betting as you see fit.
Why Bitcoin Casinos Are the Answer
Bitcoin may be the ideal solution for all the issues listed above. While there may be other FIAT currency options for players who want to claim bonuses, Bitcoin comes highly recommended to beat extensive KYC options and is certainly an advantage for high-rolling players who want to avoid the caps but on casinos by gambling commissions such as the UKGC and MGA.
Moreover, betting with Bitcoin is not as complicated as it used to be. You can find a flurry of top guides that will walk you through the process. Additionally, a selection of top Bitcoin bonuses, all your favorite games, and looser regulation ensure that you can wager however much you wish on whatever you want. Of course, Bitcoin casinos are still licensed and regulated, but the degree of freedom you get makes them well-suited for open, flexible, and high-rolling casino action in 2021.