Many people think that digital currencies are a scam and that people who use them will eventually lose a lot of money. Even though there might be projects that fall into this category, things like Bitcoin and ETH have successfully survived the test of time. Consequently, they’ve become popular in different areas, including online betting. In fact, by using https://silentbet.com/, you can find reviews of the best cryptocurrency betting websites in the world. All of them will offer popular options, and you can even learn more about their sections and bonuses.
Aside from the iGaming operators that only provide digital currencies, you can find many bookies and casinos that give users access to more payment options. Since not everyone uses crypto yet, those sites want to ensure that they will gain as many new customers as possible.
Unfortunately, some of the big names in the business have not added any digital currencies to their portfolio yet. In fact, they only offer bank transfers and credit/debit cards, which many people consider to be old-fashioned and riskier.
Whether using these options is safe is a topic for another day. Instead, this article will focus on some of the reasons why certain betting companies haven’t offered any digital currencies yet. We’ve already mentioned one of the reasons and it’s because many gamblers are yet to use them. However, there are several other reasons that are also really important.
Most gambling websites are afraid that their customers might try to launder money
One of the biggest problems that gambling companies have to overcome in the last couple of years is money laundering. This may seem strange to some readers, but many people use gambling websites to launder the money they’ve acquired from illegal actions. Since they can’t legalize their income, those people prefer to put everything on a gambling website, wait for a couple of days, and withdraw them to their accounts.
Some scammers use e-wallets or mobile payment options to launder their money. However, digital currencies are way more attractive because users don’t need to share any information about them. Of course, everyone who wants to launder money uses a fake ID and initials, but the fact that there is no need to go through this process makes digital currencies their go-to option.
Not everyone who uses cryptocurrencies to bet online is a scammer and wants to launder money. However, some operators have problems differentiating between standard clients and those who want to do illegal activities. Therefore, they prefer to avoid offering digital currencies.
The fact that no one regulates digital currencies is true up to a point, but the changes in some laws around the world introduced a lot of new regulations. Most of the bookmakers and casinos that offer digital currencies and are available at Silentbet are registered in countries where the jurisdiction does not regulate cryptocurrencies. Therefore, people can use those options without worrying about different limitations.
Sadly, many top-tier online casinos and bookmakers are registered in countries where digital currencies are regulated at least up to a point. Many governments worldwide introduced new laws that try to regulate the crypto market by limiting it or requiring users to pay taxes. As expected, this hurt most of the digital assets because some gambling sites prefer to avoid them.
Some operators can’t optimize their apps and mobile websites to accept crypto payments
The last big reason you may not find digital currencies on every betting website is the mobile apps/sites. Whether you choose a reputable brand or a company that is new to the business, chances are you won’t be able to use those payment options while betting on the go. Unfortunately, most operators haven’t found a way to implement those things yet.