Gambling activities in the US dates back to the period when America was still a colony of Great Britain. Although the activities were carried out according to the region, it was very popular as many more regions began to embrace it. Lotteries were especially very popular then, which is still the case in our world today. During the early years of gambling in the US, people would normally go to their standard brick and mortar locations to place bets. But as the world changes and better technological innovations are introduced, bettors don’t need to go to a physical casino to place bets. And this is possible through the use of cryptocurrencies. One would think that gamblers in the USA would not consider gambling in Bitcoins, because who needs to gamble online when you could just go to Las Vegas right? This however is not the case, in fact, many Americans prefer gambling from the comfort of their home, and USA Bitcoin casinos offer just that. One can safely say that gambling is one of the US’s favorites entertainments because, in 2006, the industry racked over $57 billion, which exceeded the $20 billion brought in by movie tickets and the $28 billion from the total sale from fast food outlets.
In our current world of technology, Bitcoin has established itself as a valuable form of currency, that allows people to buy services, place bets, and undertake transactions, with so much ease, while remaining anonymous and its promise of security has made it more widespread in the gambling industry. As the popularity of bitcoin casinos that accepts US players increases, it also has certain restrictions. However, in 2018, after New Jersey’s Supreme Court win, any state can regulate betting as they please. Only about three states in the US have no regulation for sports betting with Bitcoin or where the activity is illegal altogether. They are Utah, Idaho, and Wisconsin, and the rest of the states, gambling is either legal or there are a few state regulations, or some states have introduced gambling bills pending approval. Here is an overview of US Bitcoin casinos and where to find them.
There are 6 US states where online casinos are permitted and where US Bitcoin casinos are also approved. They include:
Other states are currently making the move to legalize bitcoin betting. Hopefully, within the next couple of years, the legality of BTC online gambling will be federal.
Here is a sneak peek at some of the best US Bitcoin casinos we have handpicked. These casinos are top-notch when it comes to the best Bitcoin casinos in the US, with a great reputation, security, and fast payouts, which is every casino player’s dream. Find your next gambling venue below.
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|State||Online Casino||Sports Betting||Land-Based|
Yes, you can. There are several states in the US where you have Bitcoin casinos for US players and where such activities are not prohibited. However, in the US, the legality of gambling has always been an issue that comes up frequently. With federal laws that differ from state regulations, it is often unclear which area can service online gambling and those that cannot. Despite that, when the State of New Jersey won its 2018 case in the Supreme Court, sports betting regulations were left at the discretion of each state, thus online casinos are allowed in certain states while some are still in the process of passing bills for its regulation.
Since cryptocurrencies are not considered legal tender in the United States, they are considered as security or commodity, and the government can collect taxes from those who benefit from US BTC casinos. Investors and traders are all required to pay huge amounts of taxes and if an individual scores a win, they are required to pay taxes as well. Although there is always debate surrounding this topic. The fact is that Bitcoin is legal in the US and is regulated to a level where individuals pay taxes.
The question of whether bitcoin gambling is legal or not in the US is unclear. However, there are no federal regulations that prohibit US gambling sites from operating. But there is a provision in the federal laws that regulate how people can follow financial transactions with online casinos.
This is very good since US players have access to a host of foreign gambling sites online to choose from. What is unsettling about this is that the number of American Bitcoin casinos operating within the country is very low. Also, each state has its own regulations that control how gambling can be handled.
For a majority of the states where online gambling is widespread, the legal age for individuals to start online gambling in the US is 21, and this is also the same with brick and mortar casinos. Although citizens don’t have access to online casinos in their local area, they can always work with offshore companies. Experts think that this move by the state is a waste of an opportunity for taxation. However, local administrations are still in discussions concerning the regulation of US friendly casinos.
There are many reasons why Bitcoin has potentials in industries such as iGaming. The main features that place Bitcoin casinos ahead of regular online casinos are anonymity and security. But, a lot of gamblers are not fully knowledgeable about the use of cryptocurrency on gambling platforms and are usually skeptical about BTC. With the current global trend, a lot of people are not accepting the prospects of Bitcoin casino gambling in the US. Although this is a hard choice to make, here are a few key factors.
|Transaction Speed||24-48 Hours||Instant|
|Withdrawal Time||3-4 business days||Instant|
Blockchain is the most in-demand technology because of the innovative features it offers. For example, all the operations and transactions within the system are instantaneous. Users get their money instantly. The average transaction speed of the top 15 cryptos is about 15.8 minutes. Whereas with a MasterCard or a Visa, transaction processing takes between 24 to 48 hours. The high demand for blockchain technology and cryptos has a lot to do with the obvious shortcomings of the standard payment system. One aspect that stands out is how long it takes for fiat transactions to be completed, associated with validating a payment or transaction. These are the issues that blockchain addresses. Transactions are processed within seconds to a few minutes, compared to the days of waiting with fiat.
If you are not new to the USA crypto casino industry or gambling in general, you would know that several casinos have varying policies and rules about their incoming and outgoing funds. For the most part, withdrawals and deposits are totally free, however, it is normal to see casinos charging anywhere between 1 to 5% commission for withdrawals. The reason for this is because casinos working with fiat pay a payment processor and pass on the cost to the player or the user. However, today, players can make deposits in Bitcoin and pay no fee for the transaction.
If you are a veteran bitcoin casino gambler, you will understand that they don’t charge a dime for withdrawals. However, you can only pay a minimal fee for your wallet provider. One of the biggest advantages for bitcoin casino users is the Zero commission charged. A majority of Bitcoin sites do not charge any transaction fees and daily transactions are unlimited. While the standard currency based online casinos have transaction limits and fees are charged for each transaction. There is global access to bitcoin casino sites due to the digital nature of the blockchain, and it is also easily accessible to a huge number of players 24/7.
One thing to ensure before signing up with a United States Bitcoin casino is to make sure that they let you withdraw in Bitcoin. Withdrawal is very fast and easy to access. The good thing about playing at a casino that accepts Bitcoin payment is you can get your money quickly. Most withdrawals are completed instantly and are immediately made available for use. Although bigger cryptos like Bitcoin could take about an hour, it is still faster than a wire transfer, which will normally take between 5 to 7 business days for a transaction to be completed. Withdrawing through Bitcoin is as easy as depositing through the same payment method. You can go ahead and choose from the list of withdrawal option from the casino’s options and make a withdrawal. It is just as simple. In addition, when you choose your Bitcoin withdrawal, the transaction will immediately be completed. This is the reason that most players prefer withdrawing their BTC after each gaming session they have.
Bitcoin is a very private payment network and is also the most transparent payment system throughout the world. The records of Bitcoin transactions are made available to the general public, which is the main reason why Bitcoin remains the most secured currency. Unlike with fiat, you don’t need any identification to open a Bitcoin account. BTC payment guarantee anonymity and security since it is decentralized and is not controlled by any single exchange or economy. The blockchain technology makes sure that USA and casinos like Bitcoincasino.us offer the best bitcoin casino USA no deposit bonus to players, with fast transactions that happen between two sides in such a way that a third party is unable to figure out the transfer. So, casinos and players are adopting Bitcoin because of its accompanying speed of transaction and most importantly, privacy. The number of Bitcoin casinos around the world continue to increase because players recognize the benefits of using crypto over traditional currencies. Bitcoin transactions are verified several times and encrypted at various points of the system, and the private keys used for transfer are very secure.
|Variety of Casinos||High||Low|
As for most transactions out there, the tax laws for Bitcoin transactions vary. In the US, various states have different laws governing Bitcoin casino transactions. This makes it a little bit difficult to make a fully comprehensive list because the resources needed for this kind of research are currently out of reach. While gambling wins in countries like the UK are tax-free, in the US the situation is quite the opposite. Not only are the proceeds from gambling taxable, but online casinos in certain states in the country are also strictly forbidden, like in Idaho, Utah, and Wisconsin. This is quite interesting because the federal government does not make any provisions for US-friendly casino betting, to begin with, yet they expect these platforms to pay taxes from all their earnings.
When the IRS declared in 2013 that Bitcoin will be considered as property, many taxpayers quickly changed their returns. Since Bitcoin is considered as a commodity, every time you sell or purchase a portion of your holding, it becomes taxable. Both long term and short term gains are taxed at their respective capital gain rate and also losses limited to $3,000. For example, you make a deposit of 1 bitcoin, with the basis of $500, and subsequently, the Bitcoin market price goes to $600. Then you decide to get into an online poker tournament with one Bitcoin buy-in then you win, making about 10 Bitcoin. The amount you used to buy-in for the tournament is your basis in the original Bitcoin, which is $500. Your gross gains for the tournament would be at the market value of 10 Bitcoin which is about $6,000. Thus, this tournament will result in a $5,500 taxable gain if you declare taxes on the amount at the end of the year.
Blockchain technology and cryptos are often displayed as the big challenger of the standard financial system promising to change the corporate red tape and increase inclusion. However, with Bitcoin gambling in the USA, BTC/USD exchange rate fluctuates a lot and crypto exchanges can offer varying policies, terms, fees, and payment methods which is exactly the opposite of the case of standard fiat casinos, which would not have to go through any exchange process. Gamblers have to exchange their crypto earrings each time for standard currency because they are not considered legal tender in the US. Bitcoin transactions are secure, but when it comes to exchanging Bitcoin to fiat, the transactions are not very secure and are user-unfriendly.
Digital currency is considered the future of financial exchange. Completing simple gambling transactions online sounds like a method that could make processes faster without any complications that come with fiat. Bitcoin is at the forefront of this, but the challenge with it is that there are serious risks involved in using Bitcoin as a standard of payment for your transactions. With many people rushing into the field, it is vital to have awareness of the concerns that surround this new platform. The market is very volatile and the market fluctuates a lot. The prices change frequently and constantly rippling back and forth, this makes a lot of crypto users lose a lot of money although it comes with a few benefits. For example, you make a deposit of 1 BTC worth $10, and you gamble a lot and win 0.5 BTC. However, the BTC price drops to $5k, you now have $7.5k even though you won and made 1.5 BTC. Meanwhile, with fiat, the risk is low and the prices fluctuate a little less than in the case of Bitcoins.
One major advantage of fiat online casinos is that they provide a large variety of platforms available for players to choose from than most USA crypto casinos. This is because cryptos are only getting introduced in the gambling industry and not many gamblers are versed with the use of cryptos, and often at ties prefer working with fiat casinos which to them is more convenient. The simplicity of betting online with fiat at times outweighs that of crypto casinos because gamblers would need to create a crypto account to do so and this for a gambler who does not have an account is too much of a process. Although when you already have an account it is a lot simpler, and the price fluctuation that makes players lose money even when they win a bet with crypto casinos makes people more skeptical to leave fiat casinos for crypto. Hence leading to the fewer crypto casino. Limiting access to the platform for people who truly want to benefit from the crypto casino platform. When there is limited access and less variety, many gamblers tend to fall back to fiat, to avoid any hitches on the way.
Yes, you can! Almost every Bitcoin casino USA offers a bonus to its customers. A welcome bonus is given to players when they first sign up with the casino. It is a great way for the casino to motivate their players and to start the process on the right foot and to show appreciation for their new clients. How does a welcome bonus with Bitcoin casinos work? When you first log into your casino account, After you make your first Bitcoin deposit, there will be a welcome bonus code that you can redeem. After redeeming the code, you’ll be able to collect your bonus if you meet the specific requirements provided by the casino, and eventually, you can withdraw the bonus.
This type of bonus is one that offers you the chance to play without depositing any money. Many no deposit Bitcoin casino USA offer a lot of promotions to new subs. A casino might free money for new players upon their first registration. They will also offer free bonuses to existing members as an incentive to maintain their loyalty. Many players are attracted to free no deposit bonuses because they get the opportunity to win money without having to deposit a dime. This type of bonus is also very common and has similarities with a free cash bonus, but the bonus is restricted by time. For instance, a casino might offer the player $50 of free play, but once they claim the bonus, the customer might only have a limited time to use it. And once that time is up, their winnings can be exchanged into a small percentage of real cash. This type of bonus could be offered by casinos as a loyalty bonus or as a welcome bonus. Here are the steps to take in order to be eligible for a US bitcoin casino no deposit bonus:
This is a bonus that customers reactive after depositing Bitcoin into their casino account as a show of gratitude from the casino patrons. It is common for most US Bitcoin casinos to offer a deposit bonus. The bonus will usually have a set percentage. If a casino provides a 100% match bonus, they will match the deposit value completely. However, they often times have a cap. Many casinos offer a 50% or a 75% match bonus and at times even go up to a 200% match bonus. Here are a few requirements you need to get started with a no deposit bonus.
This is a type of bonus offered to loyal customers and also a way through which casinos attract new members They always have it on their homepage. Many players like free spin bonuses because they are free and the players have the chance of winning either bonus cash or real cash. They are mostly real bets on slots. It also provides players with a steady number of complimentary spins for one or more slots. There are either offered in a bundle or as deposit bonuses. At times free spins also work on other games besides slots. Sometimes casinos offer free spin bonuses to users who register on their website, even if they do no deposit any money. Wondering how this US crypto casino bonus works? Here’s how. Sometimes, when a new player registers in a casino that offers a welcome bonus, and they get a deposit bonus plus a hundred free spins. Some other casinos offer players a free spin when they register on their website.
In a nutshell, one can say that Bitcoin casinos are not illegal in certain states in America, and players are free to gamble in states where crypto gambling is approved. Before the advent of blockchain technology, people would normally either gamble in standard brick and mortar casinos or on online fiat casinos, however, crypto casinos are becoming very much widespread in the US. Some states in the US have still not passed bills regarding US Bitcoin gambling sites, yet there are only about three states in the country where the activity is generally dormant or illegal, some have no provisions for the industry as a whole like in Utah, Wisconsin, and Idaho. As such there are very few Bitcoin casinos that accept US players, but this does not stop US residents from gambling with renowned offshore bitcoin casinos. Despite that, there are still some benefits to crypto gambling that has players playing, even though there are a few disadvantages. But what is more appealing is the variety of Bitcoin casino bonuses offered to players, yet Bitcoin casinos are still fewer than regular fiat casinos.
|Withdrawal Time||Tedious Exchange|
|Play From Anywhere||Low Variety of Platforms|
There is a lot of risks associated with gambling. Most of which can either lead to bankruptcy, domestic abuse, crime, health problems, or even suicide. This is because a single bankruptcy affects many people. According to the National Council on Problem Gambling, it is estimated that those with gambling addictions lose a total of $6.7 every year and the numbers continue to increase.