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Nobody wants to sign up for an online casino that is not safe and secure. With hundreds, potentially thousands of casinos out there to choose from, why take a risk? While the rules governing licensing and regulation in conventional online casinos are straightforward, it is sometimes less so for cryptocurrency casinos. What kinds of things should you be looking for? Join us as we explore the types of regulation you should expect to see in cryptocurrency casinos in 2021.
A Gambling License
Of course, not all cryptocurrencies are licensed, but they should be. While cryptocurrency sites struggle to obtain licenses from the UKGC or MGA, the Government of Curacao’s gambling licensing authority is prepared to license top domains like Bitcoin Casino. While a Curacao license legally allows you to offer crypto games to players, it does not come with much regulation, though. For that, we need to look elsewhere.
Top casinos like Bitcoin Casino will also be regulated. As mentioned, a Curacao license brings some but nowhere near as much regulation as a typical UKGC or MGA license. Therefore, we need to look further afield. Top sites such as BitcoinCasino.io are instead regulated by third-party auditors. These ensure that the casino is honest, transparent and has fair practices regarding security, fair play, and player protection. Do not trust cryptocurrency casinos that claim to regulate themselves.
On top of the above items, a reputable cryptocurrency casino should also be RNG certified. This entails having its games checked to ensure that they have fair RTP (return to player) rates and that the random number generators that govern each hand or spin are truly delivering random events. RNG certificates come from iTech Labs, TST, eCOGRA, Provably Fair (specific to Bitcoin casinos) and others.
Financial Authority Approval
Access to Responsible Gambling Programs
It is not just regulation and licensing that you need to see at top crypto casinos. The best Bitcoin betting sites will also offer player protection. Most of the time, this comes in the form of responsible gambling tools. In short, a renowned site should provide you with the ability to cap what you deposit, to withdrawal without limits, and to self-exclude or take breaks from gameplay whenever it suits you. They should also be affiliated with problem gambling programs that can provide additional support to troubled gamblers.
It may sound like a lot to ask for in a cryptocurrency casino, but it is not. The absolute best sites can put together a package that features all the above, and it is at these crypto casinos that you want to sign up and play.