Crypto Gambling In Poland: Regulatory Conditions and Immediate Prospects
The ever-increasing digital age has brought much advancement, including in the gaming industry. Many online casinos are seeking ways to provide better solutions for their customers worldwide. Thus, the introduction of cryptocurrency gambling and payment options.
According to our experienced author and expert, Eliasz Nowak: „Każde renomowane kasyno polskie bada możliwości włączenia do swojego systemu hazardu z użyciem Bitcoinów. W nadchodzących latach polskie kasyna online będą zyskiwać na popularności i tym samym wypierać placówki stacjonarne, a znaczący wpływ na ten trend będą miały akceptowalne przez kasyna online nowoczesne metody płatności.”
Poland is a country that favors crypto gambling, although there are speculations about the federal government being against it. Bitcoin online gambling within Poland is receiving wide acceptance.
This article provides detailed information on playing in online casinos using Bitcoin and other cryptocurrencies in Poland.
The Legalities of Bitcoin in Poland
Bitcoin’s legality within Poland is a debatable topic. Szymon Woźniak, a Polish executive from the country’s Ministry of Finance, explained that Bitcoin isn’t recognized as illegal by the ministry. All the same, the Ministry of Finance also doesn’t identify cryptocurrency to be legal.
On December 18, 2013, the executive stated things that aren’t banned are allowed, but that doesn’t mean they’re recognized as legal. So, Bitcoin isn’t controlled by any financial institution or government body in Poland. Therefore, Poles can trade crypto assets on local platforms, and there are currently no laws restricting online crypto casinos from accepting Polish gamers.
The Pros of Gambling with Bitcoin in Poland
The widespread crypto adoption worldwide has piqued the interests of individuals, and there is a reason for it. Wagering using cryptocurrency in online casinos provides some benefits over gambling via fiat currencies. Let’s list some of the benefits below.
- Instant transactions.
- Doesn’t require KYC standards and middlemen.
- Straightforward, effective, secure, and seamless.
- It can’t be controlled by any country, financial institution, or legal entity; thus, it’s decentralized.
- Trustless, distributed, and provides anonymity.
Countries that Enforce Crypto Gambling Regulations
Here are some countries and their perceptions of cryptocurrency gambling and regulations to platforms that provide this service below:
1. The United Kingdom
In the UK, it’s legal for licensed casinos to permit crypto payments. However, residents are not permitted to make direct deposits with crypto at online casinos. Instead, they can make payments via e-wallets that support and convert fiat to casino-supported crypto assets.
The UKGC has ordered all gaming houses to comply with the Know Your Customer (KYC) and Anti-Money Laundering Regulations. Therefore, online gaming portals are expected to have a record of all their customers who use crypto payments. In addition, the UK Gambling Commission has warned that bettors should verify that the gaming portals they’re using have valid licenses.
In Greece, cryptocurrency is considered not straightforward and provides access to illicit activities. Therefore, the Greece government doesn’t permit crypto gambling, and they’ve even blocked some platforms that initially permitted Bitcoins for gambling.
3. The US
The United States also considers crypto gambling to be illegal. However, online casinos make crypto payments possible via another route. They do online gaming portals use headquarters situated outside the United States to provide access to bitcoin betting for players in the US.
The United States federal government agencies despise cryptocurrency for scandals of fraud and other risks. Moreover, with transactions occurring at HQs outside the US, the US government can’t penalize them for such acts.
Sports betting in Italy is widely-adopted and rampant. Italians have even begun using cryptocurrencies for sports betting. Also, the Italians use English bookmakers to facilitate football betting, and they have some trusted online casinos that allow residents to gamble using digital currencies.
The Italian government doesn’t enforce any crypto gambling regulations. It’s also worthy to note that cryptocurrency transactions are facilitated by third-party processors and not the online gaming portals themselves. Therefore, bitcoin gambling is accepted by licensed casinos in Italy.
In Japan, betting on websites with cryptocurrencies was restricted, with some exceptions. Physical casinos in the country began in 2018, making them relatively new for the citizens. On the other hand, online wagering is rather vague, vastly regulated, and offers few opportunities for bettors.
Notwithstanding the legality of casinos, crypto betting in Japan stands a very bare chance as the environment isn’t so friendly.
The Legality of Gambling at Online Casinos in Poland
Following the upgrade of Poland’s gambling laws, crypto online casino in Poland has also begun growing. These casinos make it possible for bettors to access various other options and bet on entertainment and sports events. Bitcoin casinos also provide a faster way to sign up and access online and live games and make transactions.
There are no regulations against Poles gaming at platforms that accept virtual currencies. The relevant government agency must license each gaming house, but there are no regulations for making crypto payments and betting with them.
Betting with Bitcoin in online casinos in Poland is becoming more and more popular. While some other countries enforce strict regulations on Bitcoin betting, the Polish government has not established any restrictions against it – but it also doesn’t support it. Thus, punters in Poland need to learn to navigate the tricky realities as they go about playing their favorite games at online gambling portals.