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Bitcoin Casinos in Japan: Legalities & Regulations

Dec 26, 2017 Admin Gambling
Japan

Given the anonymous nature of bitcoin transactions, online gamblers are no strangers to it operations. Bitcoin gambling is increasingly growing at a full stream due to proliferation of both licensed and unlicensed online markets. 

Nothing goes without mentioning that bitcoin has been the preferred currency for underworld online transactions, according to www.casino.org, leading offshore betting sites like Ignition, Bovada, and Slots LV readily accepts bitcoin due to its incognito status and relatively low transaction fee. 

Save for China and Australia, Japan has become one of the leading destinations in online betting if the number of bitcoin casinos is anything to go by. As good as it may sound; Japan will need to quickly figure out ways to track bitcoin transactions at least to be able to ascertain whether lawfully being used. 

Legalities & Regulations

Gambling in Japan is prohibited by the Criminal Code, Chapter 23 with several exceptions on betting on horse racing, public s...

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Provably Fair Gambling with Cryptocurrencies

Dec 26, 2017 Admin Gambling

Provably fair gaming is a concept associated with cryptocurrency betting. Provably fair gaming is a complete departure from legacy online gaming that relies solely on trust and the gaming site’s reputation. Online gaming provability is made possible with the gradual adoption of Blockchain and smart contracts in gambling.

But first, before going head-long into the exciting proposition this new concept has on online gaming, let’s explain what this idea means:

What is provably fair gambling?

A betting activity is said to be provably fair when there is sufficient mechanism in place that allows both the player and operator to verify the fairness of a gaming process. The concept is uniquely tied to the emergence of Bitcoin gambling which runs on a cryptographic algorithm, hence with the use of hash functions; it became incredibly difficult for external interference – that is all things being equal.

Now, you have an idea of the concept means, and I can imagine you’d want to know ...

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Pros and cons of bitcoin gambling

Dec 26, 2017 Admin Gambling

Chances are you love gambling – and we do too – else you wouldn’t be here. We did be safe to say that you’re currently researching online gaming and possibly using Bitcoin to fund your chance taking habit right? It’s entirely OK, and that’s why we are here to provide you will valuable information that will guide you making the best decision. From choosing a reliable bitcoin casinos and sportsbooks to learning about all the online gaming platforms – we’ve got you covered.

For this article, we’ll examine the benefits and cons of using bitcoin for your online gaming activities.

Advantages of using bitcoin for online gambling

Bitcoin is anonymous

The underlying technology backbone on which this cryptocurrency is built makes it inherently safe to mask your identity. In fact, any transaction conducted via block-chain tech – block-chain is the technology powering Bitcoin – can never be traced back to you. This offers a level of secrecy wh...

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How to bypass restrictions of online casinos in regulated countries

Dec 26, 2017 Admin Gambling

Online casinos are banned in some countries – yes that’s the reality – and it’s because of several reasons. Some banned gambling online due to religion – Islamic nations prohibited it – some for other reasons. So, what do you do if you find yourself in a country where there’s a blocked access to an online casino?

And come to think of it you’re here – on this page – because you’re either in a location that restricts online casino or you’re planning to travel to such a place and now, you are researching on how to bypass these restrictions.

So, if that’s you, this post is for you:

What you should know about countries with legislation against online casinos.

Just as was mentioned earlier several Islamic countries ban gambling outright including both land casinos and its online versions, while countries such as the United States, Australia, China, etc. ban online gaming and allow land casinos.

The reasons given by some of...

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Advantages of Bitcoin casinos and sports betting

Dec 26, 2017 Admin Gambling

Bitcoin casinos go to great lengths to establish their reliability. Therefore, “provably fair gaming” sites offer free satoshis, which are fractions of bitcoins, in return for joining them, and for referring them. Considering that a bitcoin is now almost equal to $11,000, having some satoshis in account is worthwhile. Besides, once it is credited, the amount cannot be taken back or stolen by any hacker. The person’s current address along with public and private keys would be needed for taking away the bitcoins. There can be more than 50 digits including both numbers as well as letters, evidently making hacking nearly impossible. 

The transfers and withdrawals from bitcoin casinos and sports betting sites is considerably cheaper and faster unlike withdrawals from other online casinos and sports betting sites. There is no red tape involved, and there are no restrictions on the movement of this currency. 

The anonymity that bitcoins offer is one of the coveted features of bitcoi...

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