Anonymous Gambling with Cryptocurrencies
In the years before the cryptocurrency phenomenon, anonymous gambling was an impossibility. From visiting the local casino to gambling online, players would have to identify themselves in a number of ways. Firstly, access to a casino is a face-to-face activity. This includes registering as a member, engaging with table dealers and being monitored by CCTV recordings. Next, in the age of online casinos and sportsbooks, new customers must verify themselves by providing countless documents such as a passport, utility bill, and copies of debit/credit cards. Moreover, deposits and withdrawals appear on a customer’s bank statement, something they may wish to avoid. Nevertheless, the introduction of cryptocurrency has made anonymous gambling a real possibility for those looking to gamble discretely, privately and most importantly, anonymously.
Registration
The first step to achieve anonymous gambling is to register an account with an operator that only accepts cryptocurrency as a payment method. The reason for this is that users do not need to supply any personal details when they create a cryptocurrency address, such as Bitcoin or Ethereum. Therefore, when registering, players need only provide their public key, thus keeping the gambling experience anonymous. Once players have an account, they can securely deposit funds by transferring their chosen currency from their personal wallet, ensuring that they enter the online casinos public address as the receiver. At this stage, the only details that the casino have is the player’s virtual address, thus avoiding the need to supply sensitive information such as your name, residential address, date of birth or debit/credit card numbers.
Players are Borderless
One of the most beneficial features of anonymous gambling is that it allows users to gamble in jurisdictions where it might be prohibited. To illustrate this restrictiveness, citizens in Thailand and Vietnam must travel to neighbouring Cambodia to access gambling facilities! Imagine having to waste money on transport, hotels and foreign exchange, just to be able to spend your own money how you choose to? With the use of an anonymous browser such as Tor, individuals can access gambling websites anonymously, without fear of being monitored. Furthermore, certain nations such as the USA require its citizen to pay high tax contributions on gambling winnings. Anonymous gambling with cryptocurrency protects the player from having their withdrawals monitored by governmental agencies, thus allowing them to keep the full proportion of their funds.
Playing
The anonymous gambling experience also extends to wagering. For example, rather than having to sit at a blackjack table in a busy land-based casino, users can play traditional casino games in the comfort of their own home, without having to reveal who they are or where they are from. This is also beneficial for those located in areas where casinos are either non-existent, or limited in the amount of games they offer. Online casinos that facilitate anonymous cryptocurrency gambling offer a significant range of games, from blackjack and roulette, slots, and even peer-to-peer games where players can wager against one another.
Transaction Speed
Ever wondered why it can take days, sometimes weeks to receive your winnings? Due to the various anti-money laundering and fraud regulations that online casinos must adhere to, risk departments must perform robust identity checks. This is to ensure that the casino remains a safe place to gamble, however for the vast majority of players who are legitimate, this can result in long delays. It is not uncommon for traditional online casinos to request notarized passports or high-resolution images with the player holding their documents against their face, which can result in severe frustration. Nevertheless, these regulatory burdens are no longer required as cryptocurrency casinos do not need to apply the same ‘Know Your Customer’ controls, as cryptocurrency does not fall within the remit of gambling legislation. Therefore, anonymous gambling allows players to receive their withdrawals with the utmost speed, all thanks to the efficiency of the blockchain mechanism.
The Conclusion
Traditional online casinos offering fiat-only options to their customers will soon become obsolete. The reason for that? Well, as this article has demonstrated, the complete end-to-end gambling experience has been significantly enhanced by the creation and implementation of cryptocurrency. This begins with the registration process, whereby new players need only supply their email address (for password recovery and contact purposes), rather than the standard requirements of name, address, date of birth, and anything else that that particular casino requires. Next, when it comes to depositing funds in to your newly created account, long gone are the days of needing to provide sensitive payment details such as a debit or credit card. Furthermore, not long after registration, traditional casinos will most likely request personal documents to avoid account restrictions, such as a passport or bank statement. Anonymous gambling using cryptocurrency completely alleviates this requirement, keeping your information safe from potential breaches of security. Finally, not only are deposits safe and secure, but withdrawal times are seamless, as the crypto-casino will not need to waste valuable resources on regulatory identification checks, which are usually a requirement prior to funds being released.