The Rise of Bitcoin Online Gambling
In most cases when people are told not to do something by the government, they will still find a way and do it secretly. In this case Bitcoin casinos is thwarting the attempts by the government to stop the transaction between casino player’s bank accounts. This ban was introduced in 2006 in the US.
Many people believe that Bitcoins were fueled by the seizure of three top poker websites by the authorities in 2011. There came an immediate need of an alternative funding mechanism and Bitcoins are working just fine.
Although Bitcoins replaced the real currency in gambling, it was not an immediate transaction because many casino operators pulled out of the US market and took their operation in Europe and Asia but just a few operators took their chances in the US. By 2013 Bitcoins were replacing real currency fast and many casinos saw it as a viable way of sidestepping the law because Bitcoins are very volatile. This makes it very difficult for the government to control because they are not transacted in any central bank.
Is Bitcoin a legal option?
At the present authorities in US are not able to decide whether it is a legal currency or not. For now the federal lawmakers are not ready to say whether Bitcoins are legal or not, but players and gaming sites are comfortable using the currency without the fear of persecution until such a time when a firm decision is made.
The government is not worried about the litecoins because in the year 2013 November the government announced that money laundering is most of the time done using the legal currency. This is an indication that the government is not ready to interfere with the online gambling industry any time soon
In the online litecoin casinos, there are no set rules and therefore each player plays according to the circumstances from his or her end. If enough intelligence is gathered about playing casinos, casinos can be entertaining as well as profitable. These games can be played at any time of the day or night because they are available day and night within the comfort of your home using a computer connected to the internet.
Where are Bitcoin accepted?
Several poker rooms accept Bitcoins as their currency. These casinos include; SealsWithClub which does not allow any other method of payment except Bitcoins, Satoshi poker as well as BitsPoker. All these sites accept Bitcoins as their payment mode of choice. It will not take long to search for casinos that use Bitcoins online because they are very many. Whether you are interested in them or you do not have anything to do with them, Bitcoins are not going anywhere any time soon because they will be here today and in the future, because it is growing in popularity in the online gambling arena.