Legality
Legality of Bitcoin Casino without License
In our previous articles, we clarified what cryptocurrencies like bitcoin are and what advantages they offer. In short, cryptocurrencies are formally decentralized and unregulated, and they are not official electronic money or legal tender.
These and other features make cryptocurrencies, especially bitcoin, particularly attractive for online casinos. Online bitcoin casinos have been proliferating and are becoming the rule, not the exception.
In most countries, no laws exist that ban gambling with bitcoin. For example, the US has laws that regulate gambling with real money. However, gambling with bitcoin is neither legal nor illegal. With online bitcoin casinos, you can reach millions of people worldwide where gambling is otherwise illegal.
In most countries, gambling is only regulated when it comes to real money; therefore, no laws in these jurisdictions say that gambling with bitcoin is legal or illegal, or
that a license is required.
In addition, you must keep in mind that no nation, nor any bank, regulates bitcoin, so no bitcoin bank account can be monitored.
However, if your casino profits increase, you can easily purchase a gambling license. We recommend that you register your online bitcoin casino business in Costa Rica, where registration is a mere formality and inexpensive compared with other jurisdictions (starting at EUR 1,800 in the first year and EUR 1050 and up the second year). With registration of your online bitcoin casino in Costa Rica (tax free!), you then can open bitcoin bank accounts. Find out more about this topic HERE.
It is important to note that you must always observe the laws of the country in which you are located or operate. If any laws exist against gambling with bitcoin in your home country, then this activity is, of course, forbidden. This applies particularly to any laws that may be enacted in the future. We also would like to point out that for legal reasons, we cannot offer any legal or tax advice and that our general guidance here on online bitcoin casinos also should be understood in this context.
