Today, we’re going to talk about the relationship between a specific type of casino and the crypto community. Non-GamStop casinos have been appearing on many people’s radars for the last few years, but why are they popular with crypto fans? We’ll discuss what these casinos are, how they differ from other gambling platforms, and what makes them a hot hit with crypto enthusiasts.
Defining non-GamStop Casinos
In the simplest terms possible, online casinos not on GamStop are casino websites that have zero affiliation with the GamStop self-exclusion program.
A quick recap for those who are unfamiliar: GamStop is a self-exclusion scheme in the United Kingdom where players and gambling companies both sign up. Players do so when they want to be excluded from all of the platforms registered with the scheme. Gambling companies sign up because UK gambling laws make them do so. It means there are nearly 200 participating companies as every casino in the UK is part of this scheme.
Going back to our definition, casinos that aren’t on GamStop are found outside of the United Kingdom. They can be referred to by many other titles – like European casinos or American casinos – and the only people to use the non-GamStop term are punters in Great Britain.
Why are these casinos big with crypto fans?
What’s so special about these casinos when compared with other ones out there? More specifically, where does the link between non-GamStop sites and cryptocurrency fans come from?
Fundamentally, it’s down to the presence of cryptocurrency payment methods across most of these sites. The majority of casinos operating away from GamStop will let you use multiple crypto coins to deposit and withdraw money – some of the most commonly accepted ones are:
- Bitcoin (obviously)
- Ethereum
- Tether
- Dogecoin
- Litecoin
- Ripple
- Bitcoin Cash
Others exist, though it depends on the websites you’re using. The platform you pick also determines how you can use your cryptocurrencies. Some let you deposit the funds in crypto and convert them to fiat currency while others let you place your bets in cryptocurrency.
There’s always been a prediction that cryptocurrency will become a bit hit in the gambling market, but it’s fairly hard to find reliable crypto casinos. Sites that aren’t on GamStop tend to be the most secure and credible ones available. That’s why crypto fans are developing a positive relationship with them – they know that, by searching for these casinos, they’re going to get platforms that accept a wide array of cryptocurrencies for betting.
As you can imagine, these sites are even more popular with the UK crypto scene. Cryptocurrency has always received a bad reputation in this country and it’s currently illegal for any casinos registered in the country to allow crypto payments on their platforms. Therefore, non-GamStop casinos are the only legal way for UK players to utilise cryptocurrency gambling!
The benefits of using cryptocurrency-approved casinos
These casino websites are basically crypto casinos – fans use them as they would any other online casino; the only difference lies in how they deposit/withdraw money.
This presents a significant benefit: crypto casinos offer safer payment methods.
Because your transactions go through the blockchain, all of your payments at these gambling sites are hidden and obscured. It allows for more privacy when you’re betting and can prevent instances where certain banks don’t let you make payments to gambling companies. None of your regular financial data is added to the casino’s website either; your card and bank details are nowhere near the platform, so you never have to worry about cyberattacks. If one did happen, it wouldn’t cause any damage as you’ve got nothing saved on the site.
The other huge benefit of crypto casinos, like the ones not adhering to GamStop, is how you can utilise them as a crypto trader. In many ways, they act as a pseudo-crypto exchange for your digital assets. Funds are deposited onto these platforms, but you can withdraw them whenever you want. If you’re smart about it, you’ll wait until the value of your crypto assets increases before withdrawing the funds and gaining a small profit.
All the while, you could use your crypto funds to gamble on different games or bet on sports to potentially earn even more money! It also opens the door for situations where it’s hard to lose money when gambling. Let’s say you bet with some cryptocurrency and lose the equivalent of $50. That sucks, but you wait a few days, weeks or months and the value of your crypto assets rises by $50. If you withdraw your money from your betting account now, you’ve technically made $50 in interest, wiping out the loss.
You can clearly see a strong link between these casinos and the cryptocurrency world. It’s only going to get stronger as people realise the potential of gambling with digital assets.
