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The UK gambling industry is highly competitive, advanced, and tightly controlled at the same time. The legislative amendments that were put in place recently brought more transparency and safeguarded players’ interests against dishonest investors.
The regulations concerning the involvement of minors in wagering activities became even tighter. The UK government is also on the verge of banning gambling-based advert broadcasting in daytime hours. The above measures are committed to creating a “responsible gambling” community, and this is the primary reason why the UKGC approved the use of BTC as a deposit/withdrawal method in online casinos.
The authorities clearly stated that online betting companies that use BTC as a payment method must abide by existing UK wagering laws. Besides, they also emphasized that all gambling companies must be licensed to operate in the United Kingdom.
As digital currencies are establishing their niche in the online gambling industry because of the low charges and instant transactions, there are rumours that Bitcoin is increasing its size in the United Kingdom market. The truth of the matter is that the UK BTC casinos are still few, though it seems Bitcoin’s reputation is growing at a good pace. Bitcoin is projected to dominate the UK gambling sector in the next five years.
If you are living in the UK and you, for various reasons, are not willing to capitalize on the other deposit/withdrawal options, you should be aware that presently, the percentage of hybrid casinos using BTC is pretty limited. However, these casinos have extra-ordinary bonuses and transaction speeds compared to the standard casinos.
How to Buy BTC in the UK
Buying BTC is thought to be the simplest method of acquiring the valued digital currency compared to mining it yourself. First, gamblers must open a BTC wallet with one of the reputable software companies providing the service. After creating a BTC wallet, you are required to pick a crypto exchange, like CEX.io, Binance Jersey, or Coinmama, to use.
Once you have chosen and opened an account with an exchange, you transfer money to your exchange bank account. After that, you can decide to ‘Buy’ or ‘Trade’ the BTC, based on what the exchange offers. The price of BTC always varies based on supply and demand. After buying your coins, you can transfer your assets to your BTC wallet.
A Step by Step Process on How to make a Deposit in a BTC Casino
Step 1- Choose BTC as Your Preferred Deposit Option
Before loading your casino account with Bitcoins, you must select BTC as your preferred deposit option. First, choose the “Deposit to your account” preference and wait for a window containing all the authorized payment options to appear. Just click on the BTC symbol, and you are good to proceed.
Step 2- Enter Amount & Confirm
The next phase of making a BTC deposit at most online casinos is keying the desired amount of BTC you wish to load to your casino account. For instance, for a UK casino player who uses British pounds and longs to deposit £100, all that is needed is to key in 100 in the blank space.
After entering the amount and clicking the “Continue” button, you will be directed to another display window to confirm your transaction.
Step 3- Check Your Amount and Address
After confirming the amount you desire to deposit to your casino account, the system will offer you the precise amount of BTC that will be transferred as well as the receiving BTC address. Besides, there is a QR code for scanning purposes.
Step 4- Send & Confirm Payment
The provided information by your chosen casino account should be utilized to move Bitcoins from your BTC wallet to your casino account. Scan the QR code provided or copy-paste your receiving address along with the value of BTC indicated on your screen. Click the “Send Payment” button and confirm your activity.
A few seconds later, you will be notified that your transaction has been completed.
Step 5- Check Your Casino Account Balance
Most people tend to check their account balance and confirm whether their deposits have been added to their casino accounts. Typically, it takes less than ten minutes for the invoice to reflect. It will be listed in your payment section under transaction method BTC.
Step 6- Time to Play
When all the above steps are completed, you will have a funded Bitcoin casino account with digital assets, which are used in online casinos that allow BTC payments. You can play your favourite casino game and win big.
How to Use a BTC Casino Bonus
If you come across a ‘no deposit’ BTC casino bonus, then count yourself lucky. To claim it, you will be required to sign up and satisfy all the bonus requirements, such as adding your payment details and providing your email address, before the bonus funds are made available for use.
For casino players who are purely after bonuses and promotions, you must conduct due diligence when hunting for new Bitcoin casino bonuses. Although review sites seem to be pretty okay in providing details about casino game site vibes, they are not updated regularly to keep up with the fluctuating welcome bonuses and other casino promotions.
It is advisable to visit the online casino platform itself to ensure you are well updated with the current offers available.
Bitcoin-only platforms in the UK normally run from any part of the world; hence, it is not always apparent that they are UK-based. Some are licensed outside the United Kingdom, which may be against your local regulations; thus, it is advisable to confirm. Luckily, thanks to its virtual nature, BTC is available in most betting jurisdictions.