Are bitcoin casinos licensed and regulated?

I've been gambling online now for over 15 years. Mostly at major UK sites like William Hill and Ladbrokes. All of these companies are fully licensed and regulated so I can be pretty sure they won't cheat me or disappear overnight with my money. Can the same be said about bitcoin casinos or bookmakers? What is stopping them taking my BTC and closing my account? Who can I complain to?

 

are any major online casinos regulated by the UK gambling commission?

 

I don't have an issue with bitcoin gambling sites trying to become legitimate and getting licenses. What I have a problem with is the fact that some of these gaming commissions then block them from operating in the USA. The whole point of bitcoin gambling sites is that they service customers anonymously from anywhere on the planet.

 

Personally I only gamble at sites that have the requisite licenses and are fully regulated. I don't care whether they accept dollars or bitcoin, if someone isn't auditing your accounts regularly, you're not going to get any of my money. I reckon I've lost in excess of $5,000 over the past 15 years at shady, unregulated gambling sites.

 

i'm pretty sure i read somewhere that bovada is no longer regulated in any jurisdiction. any truth to this?

 

How about those Bitcoin Online casinos that do not have "Eu license", but regulated at their jurisdiction? They are back-up by land-casinos in Cambodia and operate under its online gaming license. In terms of payment, there is no worry and they are legit. Could they target countries especially in Europe? Why do they still need a license for if they accept Bitcoin? Just asking.

 

i don't understand why bitcoin gambling sites bother getting a license if it means that they are only allowed to operate in certain countries. as fas as i'm concerned the whole point of bitcoin and other cryptocurrencies is to free us from regulations. bitcoin gambling sites should be global and not care where their customers are based.

 

The problem is that the United States government has very long tentacles. You might operate one of these unregulated cryptocurrency casinos today and then in 10 years time you get arrested in a U.S. airport as you try to make a connection. Most people don't want that headache and would like to be able to visit countries like Australia and America without fearing arrest and prosecution.

 

If I could run a billion dollar crypto gambling company like Calvin Ayre, I really wouldn't care if I never set foot inside the United States or Australia again. The world is a big place and there is plenty to see outside those two countries.

 

if a bitcoin casino says in their "about us" page or in their footer that they are licensed in panama, cyprus, costa rica or any small caribbean island, how are you supposed to know that they are telling the truth? are you supposed to phone up the authority that regulates these gambling operators and ask if this particular company is based in their country. it seems that most of us are just trusting whatever these companies are telling us anyway so it doesn't matter if they are licensed and regulated or not.

 

There should be a link to the website of the relevant authority where you can verify. If there isn't a link, I'd be skeptical.

 

why exactly do this regulators do?