Bitcoin Given Thumbs Up by UK Gambling Commission
Online casinos licensed by the UK Gambling Commission have been given the thumbs up to offer Bitcoin and indeed all virtual currencies as banking options in their casino cashiers as of October 2016. After consulting with license holders and industry veterans the green light was given and the UKGC Codes of Practice was updated meaning that players will have the option of instant Bitcoin deposits and fast withdrawals this fall.
Previous to this decision it was only the licensing body of Curacao that had made the relevant amendments allowing for Bitcoin use in US online casinos, and it's thought that the Isle of Man and the Malta Gaming Authority will soon follow suit, covering a huge amount of casinos between them.
Bitcoin aficionados will be hoping that the ticking of the BTC box by such a high profile organization as the UKGC will give the popular digital currency onward momentum and help fuel more general interest in it.
Over the past few months we've seen almost all of the better US online casinos adding the Bitcoin option to their cashiers with many providing player initiatives to begin using it, and we'll no doubt be seeing UK licensed casinos doing a similar thing. Simple to use, safe and convenient, Bitcoin has been and will continue to be a hit with US players, with instant deposits and expedited withdrawals being welcomed.
What was once seen as something as a novelty by many is now becoming more and more mainstream and the boost in visibility that should be gained by major UK licensed casinos and sportsbooks offering it as a banking option will be applauded by the Bitcoin community.