According to Cryptobetting.org, offshore gambling via crypto is on the rise. It doesn’t matter if it’s safe; people are finding a way to do it anyway. If you intend to play at offshore crypto gambling sites, you’ll want to ensure you’re doing it safely.
Using online crypto casinos is already discouraged in most jurisdictions. It’s even unsafer to use unlicensed sites with servers outside your country of domicile. In short, the practice, which is often called “offshore Bitcoin gambling ,” comes with a lot of risks.
This article will show how to play safely at offshore Bitcoin punting sites. Also, you’ll learn the benefits and drawbacks of the practice to see if it’s worthwhile.
What are Offshore Crypto gambling Sites?
Understanding offshore crypto gambling sites requires realizing that some countries don’t allow online gambling . In such countries, your only opportunity to access an online casino is by using one outside of them. Most offshore Bitcoin gambling sites are unregulated since they can’t get a license to offer their services in your location.
An offshore Bitcoin-gambling site is any online casino that is located outside of your country. While the practice is generally illegal in most countries, law enforcement doesn’t seem to care.
In most countries, bettors cannot pay unlawful online casinos using credit cards and similar payment methods. The reasoning is simple: if users cannot pay the casinos, they can’t place bets, and it worked. However, the solution didn’t last for long; no thanks to the advent of cryptocurrencies.
Since cryptocurrency is unregulated, the government can’t prevent you from using it to pay for online casinos. That loophole marked new beginnings for offshore gambling sites, and offshore Bitcoin gambling was born.
Thanks to the newfound technology, people can now pay without credit cards, place bets, and cash out winnings using crypto. It was every punter’s dream, if not for the associated risks. So, what are the safety risks of playing at offshore Bitcoin gambling sites?
Disadvantages of Offshore Crypto gambling Sites
Before depositing your cryptocurrency to an offshore gambling site, you should know that they’re all unregulated. The point of an offshore gambling site is to bypass the regulations to get an otherwise impossible advantage. With that said, here are some of the drawbacks that may apply.
In some cases, connecting to an offshore gambling site might prove difficult or even impossible. Some gambling sites prevent users from certain countries from accessing them to avoid unnecessary government scrutiny. If you can’t connect to the website, you can’t place bets.
Thankfully, there’s a workaround for that, which you’ll see in a bit. Since most people still don’t know about the workaround, this is a drawback.
Most places with active online casino bans take proactive measures to enforce them. One of the popular enforcement methods is preventing regular credit and debit cards from working on those sites.
The advent of Bitcoin casino sites has eliminated this problem to a large extent. Unless you’re trying to use a casino without the Bitcoin payment option, you shouldn’t have to contend with this issue.
Since most offshore gambling sites are unregulated, it’s only natural for issues to occur down the line. For instance, if the government decides to probe the casino, it may have to shut down.
Also, we’ve had too many reports of online casinos ripping off their users. If you want to bet safely, your best option is to go for a regulated, onshore option.
Benefits of Offshore Crypto gambling Sites
The primary reason for the popularity of Bitcoin gambling sites is to bypass geographical restrictions on gambling . Online casinos are banned in many countries, forcing citizens to find alternative ways to place bets.
Bitcoin sites don’t only offer that, but they also give you a payment method that’s both anonymous and accessible. When users pay online Bitcoin casinos using a cryptocurrency, it’s typically impossible to trace it back to them.
It becomes difficult to look away from these benefits, even with the risks. The recommendations in the following section will help mitigate the risks, making your offshore Bitcoin gambling experience relatively safe.
How to Safely Play at Offshore Crypto gambling Sites
As the sections above show, playing at offshore sites is unsafe for reasons other than one. However, you can protect yourself by implementing some tips to help you play safely.
Here is how to safely play at offshore Bitcoin casinos:
Ensure it’s a Bitcoin gambling site
This tip sounds basic, but it’s a mistake anyone can make. Not every offshore gambling site out there accepts crypto deposits. Before registering and funding your account, you’ll want to ensure the site receives and processes payments in cryptocurrency.
The insistence on crypto is for anonymity and ease of payment. Even if your bank has stopped your cards from working on offshore sites, your cryptocurrency will always work. Besides, you don’t want to announce your intentions to the government, do you?
Use a VPN
Another clever trick to safely using an offshore Bitcoin gambling site is using a VPN. A VPN is a virtual private network, an app designed to make your browsing information private. Most VPNs will give you IPs from foreign countries, making it look like you’re in the same place as the VPN server.
With a VPN, you can bypass any geographic restrictions your area might have on offshore crypto gambling sites.
Read reviews from users
Before choosing any offshore crypto punting site, you should consider doing your due diligence. In most cases, there should be tons of articles and videos about it on the internet. If there aren’t, maybe it’s not popular enough to earn your trust.
However, if there are enough reviews, you should go through many. The last thing you want is to surrender your crypto to a site that will eventually abscond with the money.
Offshore crypto gambling sites are generally unsafe, but that doesn’t stop anyone from using them. If you intend to try one out, you should take safety precautions to safeguard your money. This article shows you how to play safely at offshore crypto-gambling sites.