Big news for the online gambling world in the UK – the UK Gambling Commission has approved the use of Bitcoin payments for its licensees. Bitcoin is among the best-known and most popular of digital currencies, so it was always just a matter of time before online casinos and bingo sites could use it.
What does this mean for UK bingo sites?
Put simply, it means UK bingo sites licensed by the UK Gambling Commission (UKGC) can now offer Bitcoin as a legitimate payment method. Their official stance highlights the following:
- Appropriate policies and procedures for the use of these currencies must be in place
- Licensees must be alert for guidelines issued by UKGC occasionally that will relate to these currencies
- Money laundering possibilities will be reduced
For bingo players in the UK, there is every chance Bitcoin will begin to be introduced to popular sites very soon. You might also spot other similar currencies added. Watch this space for more info.
Malta is also set to make digital currencies a legal option at online casinos
In further proof of how far digital currencies have come, the Maltese government is also looking at making cryptocurrencies a legal option in the country. The government is doing a risk assessment and will announce its position on blockchain technology and the use of virtual currencies in due course.
Here are some key points concerning their announcement:
- They want to be leading the way, rather than following others
- The Malta Gambling Authority has already studied the regulation of digital currencies
- Bitcoin will not be the only digital currency included once they are introduced to online casinos
Bitcoin deposits now being accepted at some e-wallets
You may already have noticed some online e-wallet providers are now taking Bitcoin deposits. When it comes to Bitcoin, Neteller is leading the way. Since Neteller is a big name in the world of online payments, it must surely only be a matter of time before other big-name providers follow.
No news yet on who might be next, but you can be certain Bitcoin will be introduced to other online wallets soon. It’s possible some e-wallet providers are watching to see how popular the move is at Neteller before doing anything else. Do you agree with this assessment?
Will you start using this digital currency at your favourite bingo site?
If you already use this cryptocurrency, you may like the idea of switching to Bitcoin deposits when you play online bingo. If this is new to you, maybe now would be a good time to read more about it. It might just become your favourite way to make a deposit or a withdrawal, once you get used to how it all works.
Conversely, you may be happy to sit back and find out more before using it. But since the ruling by the UKGC became news, it seems likely we will see some of our favourite bingo sites offering this as a real payment method soon.