CRYPTO
Is Online Crypto Gambling Legal?
The popularity of cryptocurrency casinos and lotteries is growing every year. But each country may have its own laws and restrictions on using bitcoins and other cryptocurrencies in gambling. For your peace of mind, Lotterium has looked into the question: Is it possible to play cryptocurrency lotteries and casinos without breaking laws?
Is Online Crypto Lottery Legal?
For those concerned about this issue, we give a short and instant answer: Yes, it is!
So, let us explain in more detail why this is so, and what features of the legislation of different countries should be taken into account.
The advantage of cryptocurrency online casinos and lotteries is that you can play remotely from anywhere in the world. Therefore, it is essential to know the answers to the following questions:
1) Are online lotteries legal in the country where the player/client lives?
2) Are online lotteries legal in the country where they operate?
So, let us explain in more detail why this is so, and what features of the legislation of different countries should be taken into account.
The advantage of cryptocurrency online casinos and lotteries is that you can play remotely from anywhere in the world. Therefore, it is essential to know the answers to the following questions:
1) Are online lotteries legal in the country where the player/client lives?
2) Are online lotteries legal in the country where they operate?
Which countries allow cryptocurrency lotteries?
There are currently no laws in any country that prohibit people from betting cryptocurrencies in online lotteries and casinos.
At the same time, in some countries the use of cryptocurrencies is generally prohibited, and this list includes Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia. Another 42 countries restrict the circulation of cryptocurrencies, warning financial institutions against accepting payments in cryptocurrencies.
You may also find that some gambling websites in your country are blocked by Internet providers. The reason for this, most likely, may not be a direct ban on cryptocurrencies, but the absence of a gambling license in your country for these specific websites.
In the EU countries, there are no laws that would regulate the scope of cryptocurrency gambling. In the UK, online lotteries and casinos can operate under strict AML (Anti-Money Laundering) requirements. Cryptocurrency exchanges operate legally in South Korea, but all cryptocurrency payments in this country are under strict state control. In 2021, El Salvador passed a law recognizing bitcoin as legal tender, but no other government in the world has dared to follow suit.
A significant advantage of cryptocurrency lotteries and casinos is the absence of intermediaries in the form of banks and payment services. Cryptocurrencies are transferred instantly, securely and anonymously between your cryptocurrency wallet and lottery wallet. Therefore, even if your country of residence prohibits (or does not allow) using cryptocurrency payment, you can still try your luck.
At the same time, in some countries the use of cryptocurrencies is generally prohibited, and this list includes Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia. Another 42 countries restrict the circulation of cryptocurrencies, warning financial institutions against accepting payments in cryptocurrencies.
You may also find that some gambling websites in your country are blocked by Internet providers. The reason for this, most likely, may not be a direct ban on cryptocurrencies, but the absence of a gambling license in your country for these specific websites.
In the EU countries, there are no laws that would regulate the scope of cryptocurrency gambling. In the UK, online lotteries and casinos can operate under strict AML (Anti-Money Laundering) requirements. Cryptocurrency exchanges operate legally in South Korea, but all cryptocurrency payments in this country are under strict state control. In 2021, El Salvador passed a law recognizing bitcoin as legal tender, but no other government in the world has dared to follow suit.
A significant advantage of cryptocurrency lotteries and casinos is the absence of intermediaries in the form of banks and payment services. Cryptocurrencies are transferred instantly, securely and anonymously between your cryptocurrency wallet and lottery wallet. Therefore, even if your country of residence prohibits (or does not allow) using cryptocurrency payment, you can still try your luck.
Remember the UIGEA in the US
In the United States, all online gambling is banned, be it cryptocurrency or not. Under the Unlawful Internet Gambling Enforcement Act, the US authorities can severely punish both those who accept online gambling bets and those who place such bets.. This law can be applied, among other things, to cryptocurrency rates. Therefore, in most cases, cryptocurrency online casinos and lotteries refuse to serve US residents.
Thus, in most countries, except the United States, there are no laws prohibiting playing cryptocurrency lotteries. The use of cryptocurrencies in lotteries and casinos for betting and paying out winnings is neither officially banned, nor allowed. Most countries do not consider cryptocurrencies as legal tender, so the laws that govern online casinos can not apply to cryptocurrencies, except in the United States.
Cryptocurrencies and cryptocurrency services are developing very rapidly. The attitude of the authorities of different countries towards cryptocurrencies is changing at the same speed: new laws are being adopted, and old ones are being rewritten. Therefore, we recommend subscribing to Lotterium news to keep abreast of the latest significant events and information from cryptocurrency lotteries and casinos.
Thus, in most countries, except the United States, there are no laws prohibiting playing cryptocurrency lotteries. The use of cryptocurrencies in lotteries and casinos for betting and paying out winnings is neither officially banned, nor allowed. Most countries do not consider cryptocurrencies as legal tender, so the laws that govern online casinos can not apply to cryptocurrencies, except in the United States.
Cryptocurrencies and cryptocurrency services are developing very rapidly. The attitude of the authorities of different countries towards cryptocurrencies is changing at the same speed: new laws are being adopted, and old ones are being rewritten. Therefore, we recommend subscribing to Lotterium news to keep abreast of the latest significant events and information from cryptocurrency lotteries and casinos.
Which countries legally operate cryptocurrency casinos and lotteries?
Legal cryptocurrency lotteries and casinos tend to use international offshore licenses, which allows them to legally serve customers located anywhere in the world. Popular offshore jurisdictions that issue licenses to international online game operators include Malta, Montenegro, Antigua and Barbuda, and the Isle of Man.
One of the most popular and well-known online gambling jurisdictions which until 2010 was better known as the Netherlands Antilles. Under the terms of the Curacao license, the lottery operator must register with local regulatory organizations and pass all necessary checks for financial and legal viability. Backup copies of all databases of online lotteries and casinos registered in Curacao must be stored on local servers.
Many online lotteries and casino operators are registered in Curacao, including the Lotterium. A valid gambling license confirms the reliability of the online lottery operator. It guarantees its customers the legality, compliance with the rules of fair play and safety of all transfers.
One of the most popular and well-known online gambling jurisdictions which until 2010 was better known as the Netherlands Antilles. Under the terms of the Curacao license, the lottery operator must register with local regulatory organizations and pass all necessary checks for financial and legal viability. Backup copies of all databases of online lotteries and casinos registered in Curacao must be stored on local servers.
Many online lotteries and casino operators are registered in Curacao, including the Lotterium. A valid gambling license confirms the reliability of the online lottery operator. It guarantees its customers the legality, compliance with the rules of fair play and safety of all transfers.
Conclusions
Let's assume you don't live in the US or other countries where cryptocurrencies are banned. In that case, you can safely play in cryptocurrency lotteries and casinos because crypto gambling is not prohibited in most countries. For complete peace of mind and security, we recommend choosing popular online lotteries with a legally issued gambling license, such as Lotterium. So you can be sure that you are playing on a safe and verified site where an independent licensing organization protects your funds and consumer rights.
