How Crypto Gambling Laws Affect Players’ Experiences

Since its inception, the crypto industry has been in an interesting place with regulators. First, it was ignored and no laws were created to cater to it at all. As the industry has grown, it has faced harsh regulations, scepticism from lawmakers, and a minefield of complicated treatment around the world. 

This only gets more apparent as cryptocurrency intersects with other industries and grows its use cases. Take crypto gambling, which is extremely popular around the world these days and has created yet another layer of complexity for both industry stakeholders and users to navigate. 

The Legality of Gambling Around the World

Just like cryptocurrency, gambling does not enjoy the same legal status around the world. And this isn’t as clear-cut within a single country the same way cryptocurrency use is. In Canada, for example, gambling is accepted in some provinces and not in others. Some Canadian provinces have as few as only one licensed casino to meet users’ needs. In others, casinos are far more common. 

In the United States and the United Kingdom, gambling is fully allowed and the government approves licenses for casinos. On the other hand, gambling is illegal in countries like Malaysia, China, Iran, Pakistan, Qatar, and Thailand. Many of these bans are credited to religious and cultural attitudes within these cultures and gambling, with crypto and fiat, is often frowned upon.

The legality of gambling, naturally, influences the experiences of crypto casino users around the world as if gambling isn’t allowed in their country, crypto casinos cannot operate within it. The same can be said of crypto’s legality because even if casinos are allowed, crypto being banned will make it difficult for customers. 

But the crypto community is resilient and even amidst all these restrictions, users have always found a way. Citizens in China have resorted to VPNs to trade crypto and ensure that they can enjoy digital assets. Many crypto casinos also operate offshore and accept players from all over the world. This means that crypto users can still play gambling games with their digital assets of choice even if the casino is not operational in their country. 

The Legality of Crypto Around the World

Even though cryptocurrency has been around for over a decade, it has not achieved legal status all over the world. Countries like the United States and the United Kingdom have accepted crypto and it is legal to use there but not in other countries.

As of 2023, China, Qatar, and Saudi Arabia have completely banned the use of cryptocurrency while others like Cameroon, Gabon, Libya, Zimbabwe, and Guyana have implicit bans on cryptocurrency. This, of course, affects the industry and the companies that operate within it. It also cuts off crypto users from enjoying the many benefits of such currencies, including crypto gambling. 

Conclusion

Existing crypto gambling laws have a massive impact on consumers’ experiences. A single law could mean that players can’t access crypto, casinos, or both. But even amidst these laws, consumers still seem to find a way to access crypto gambling. Through the use of offshore sites and VPNs, the crypto gambling space seems on track to keep growing, even if laws take a while to catch up.