NetBet accepts bitcoin and becomes the first UK licensed crypto gambling site

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Oct 18, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Even through the UK is home to some of the oldest and biggest online gambling companies in the world, they certainly haven't led the way when it comes to crypto-currency gambling. Until very recently, the UK Gambling Commission did not grant licences to sports betting or casino operations that supported bitcoin or any other crypto-currncies. As a results, major bitcoin gambling operators like Nitrogen Sports stopped accepting players from the United Kingdom.

    Thankfully the UK Gambling Commission introduced new regulations a few months ago that permitted poker rooms, casinos and bookmaker to start accepting BTC, providing certain provisions were made to keep players crypto-currencies safe. The first UK licensed gambling operator to take advantage of the softening of these rules and regulations is NetBet. They have partnered with well known BTC payment processor BitPay, who will take care of player deposits and payouts.
  2. Freddy

    Freddy Member

    Does this mean that Nitrogen Sports will now be able to accept UK players?
  3. Humble Servant

    Humble Servant Active Member Staff Member

    Unlikely because I doubt that Nitrogen Sports will apply for a gambling license from the UKGC. Before they would grant a license they would probably impose a level of regulation that would be burdensome to Nitrogen. The UK betting markets is extremely competitive so I doubt they would make enough from that market to justify the additional cost of meeting the gaming commissions demands.
  4. NKOTB

    NKOTB Member

    I deposited at NetBet using bitcoin and won some money. Unfortunately, when I tried to withdraw my winnings to my wallet, they told me that payouts in BTC were not possible. If you want to gamble with bitcoin then use a site like Nitrogen or BetCoin, because they're less hassle.
  5. uglymug

    uglymug Member

    They use BitPay to process the transaction. I am boycotting BitPay because they are now owned by Bitmain and Jihan Wu. Stephen Pair is a snake and a traitor to bitcoin.

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