Bitcoin (24h)
Ethereum (24h)
XRP (24h)
Bitcoin Cash (24h)
MythBursters: Debunking Online Bitcoin Casino Gambling Myths

MythBursters: Debunking Online Bitcoin Casino Gambling Myths

Gambling is one of those things that you either love or hate, and with so many misconceptions surrounding the idea of gambling, it’s hard for the industry to shake some of the stigmas that have been carried over the years.

With a lot of the industry’s assumptions being directed at the level of safety and security provided, gambling made the transition to the online world to improve and eliminate any initial concerns.

With the growth came many improvements in the industry. With the integration of cutting-edge technology, online Bitcoin casinos have overcome most of the challenges that have come their way.

Unfortunately, with all the improvements that have taken place, there are still people out there who have developed a misconstrued understanding of the industry. Due to a lack of fundamental knowledge about the topic, they have created a false narrative.

With these online gambling myths floating around, some people are hesitant to fully invest or even invest at all. Some myths are more widely believed than others, and with so many untrue statements flying around, many players are reluctant to get involved in the online Bitcoin casino community.

To help, we have decided to lend a helping hand to the Bitcoin casino community by debunking myths about online gambling. Resolving these accusations will motivate more players to join in, broadening the opportunities for both the player and the casinos. The bigger the community, the more rewarding the entertainment is.

Who Are You Going To Call? Mythbusters!

Online gambling has a life of its own, and no matter the challenges are thrown that way, the industry has had a phenomenal way of going with the flow and evolving with the times. With each step of progression, the industry has picked up in popularity, creating a bigger and more involved community.

Even with all the growth and expansion of the industry, there are still myths that have stuck around, giving an untrue narrative to this fun-filled industry. But now, it’s our turn to set the record straight and debunk all these myths about online gambling.

Debunking Myths About Online Bitcoin Casino Gambling

Without wasting any more time, let’s get down to business. The online casino industry is loaded with myths and false narratives, but to clear things up, we will need to start at the top and work our way down. Most of the myths around Bitcoin casinos relate to the safety and trustworthiness of the casinos, but we here to shed some light.

Mythbusters about online bitcoin casino gambling

Myth 1: Online Gambling Is Illegal

Online gambling is one form of entertainment that is regulated differently, depending on the player’s country of residence. With many different laws regulating the industry, each country has taken it upon itself to ensure the safety and security of its citizens, to do so there are corporate bodies, such as the UK Gambling Commission (UKGC), International Association of Gaming Regulators (IAGR), and a few others.

One of the most asked questions related to this topic is, is online gambling illegal in the US, or is online gambling illegal in the UK? The answer to both is no—there aren’t many countries out there that have put a straight ban on the activity. For example, many countries, such as Cambodia, Qatar, United Arab Emirates, Korea, and a few others, have implemented restrictions. Even though the laws are strict, there are still ways to partake in gambling fun, whether in state-funded-lotteries, gambling boats, and many other ways around it.

Myth 2:Bitcoin Casinos Are Not Secure

There are many different ways to gamble, both online and offline. With the recent spurt in technology growth, introductions to the market allow for a smoother and more trusted experience. Cryptocurrency is a recent adoption to the industry, and with blockchain technology, every aspect of gambling has been increased.

The blockchain system is the basis of every Bitcoin casino, which allows online gamblers to take advantage of higher levels of anonymity and safety. By gambling at a Bitcoin casino, not only will you have easier banking and cheaper transactions, but you will be able to play knowing that your personal information has no way of being crooked.

Myths 3: Withdrawals Take Forever

With the recent adoption of the blockchain system to allow for Bitcoin casinos, players now need not worry about any aspect of online gambling, even banking! With the incorporation of crypto, players can enjoy quick, easy, and cheaper transactions, no matter the time of day!

The waiting periods all depend on the cryptocurrency chosen to gamble with. Still, the most popular option is by far Bitcoin, which can provide instant results to depositing and withdrawing funds.

Bicoin Casinos Myths Debunked

Go Big With Bitcoin Casinos

Now more than ever, gamblers have the chance to make their dreams a reality. With boosted bonuses, eccentric game titles, and endless choices for which Bitcoin casino to play, this industry is more alive than ever before. There are plenty of high-quality casinos out there, and if you need some help on where to get started, be sure to check out some other articles at The Bitcoin Strip or simply sign up for our newsletter.

Last updated by Jen Van Lier on July 16, 2021

About the editor

As website manager, Jen contributes reviews and updates to The Bitcoin Strip on a daily basis. Jen worked in the casino industry for 9 years before focusing on Bitcoin in 2016. She writes on subjects ranging from traditional slots all the way through to unique Bitcoin games, provable fairness and Ethereum smart contract gambling.

Leave A Comment uses cookies

To find out how we use cookies, please read our cookie policy or click accept to continue.

Bonus Feature: 1 Free Spin to Win Up To 5 BTC

Sign up for exclusive bonuses from Thecryptostrip

Over 18 only. Terms & Conditions apply.