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Crypto Casinos Regulations in 2022 – Licenses & Advice

Today, in the age of the development of online activities, crypto casinos play a significant role in people’s additional earnings. We always advise players to work with licensed services, but not all of them fully understand why. In this article, we will take a closer look at the importance of crypto casinos licenses, list the regulators that exist, and compare them.

Why Are Crypto Casinos Licenses Important?

When players are looking for cryptocurrency casinos, they pay most of their attention to bonuses and various games. It’s important, yes, but the safety of your funds is also important. It is crucial to pay attention to the availability of a license, as well as to read about the regulator that issued it. We recommend using licensed services because:

  1. Licenses ensure the presence of provably fair games, verified payment methods, and a trusted brand history.
  2. The player has protection from all the unfair and illegal cryptocurrency casino activity.
  3. The casinos with licenses are more trusted than unlicensed ones.

The most significant benefit that players receive when working with a licensed crypto casino is protection from casino misconduct. Imagine the situation: you register, make a deposit, play, receive bonuses, and after 3-4 months decide to withdraw a reasonably large amount to your account. When you choose to make a deposit, your account is frozen. Customer support is silent for a week or more or gives answers that don’t help at all. What to do?

If you work with a casino without a license, there is nowhere else to go – either wait for a response from the casino support and hope for the best or simply forget about this money. If the casino has a license, then you simply contact the organization that issued this license. If all the conditions have been met on your part, they will help you with this problem, and there is a big chance of getting this deposit.

Crypto Casino Licenses Types

There are about ten regulators that offer licenses for the Bitcoin casino list in 2022. In fact, not all of them are legitimate. It is essential to know which licenses to look for and which ones to avoid.

Curacao Licenses

Curacao was the first regulator that started offering licenses for cryptocurrency casinos. The cost of this regulation is 22,000 EUR per year. Usually, it takes one or two months to receive the casino license, and the process is very straightforward. Upon receipt of this license, the casino is reviewed on money laundering and terrorist financing, the process of deposits and withdrawals, and the process of playing games.

Pros

  • Good Price
  • Quick Process
  • Full Due Diligence
  • Decent Reputation and Experience

UK Gambling Commission Licenses

This license is one of the most trusted globally because the commission takes verification very seriously. A license from the UK must be obtained if the casino plans to offer its services to residents of the UK. The commission pays attention to every detail – the ability of the casino to pay out the winnings, the absence of illegal actions in the past, who is the creator of the casino, and so on.

The cost of an application is 370 GBP, and it is non-refundable. The annual fee is not fixed; it is calculated for every crypto casino separately. According to the UK Gambling Commission website, it takes up to 8 weeks to get the final decision if the crypto casino application form has no mistakes.

Pros

  • Full Due Diligence
  • Decent Reputation and Experience

Cons

  • Hard to Get The License

Costa Rica License

Let’s start with the fact that you can often see such a license. The peculiarity of the license from Costa Rica is that such a cryptocurrency casino license simply does not exist – it’s just a fake document and an attempt to lure incredulous users. To obtain such a “license,” you just need to register your company in Costa Rica and have an office there. In general, this whole procedure costs the casino 9-10 thousand dollars.

Pros

  • Cheap Price
  • Easy Process

Cons

  • No Real License
  • No Protection for Players

Montenegro License

The license from Montenegro is very serious, so very few crypto casinos manage to get it. If you see that the casino has a license from this country, you can safely work with it. Gambling in Montenegro became legal about 17 years ago, and online gambling was legalized in 2012. And for ten years now, the country has been issuing licenses to operate casinos. This license is expensive – you will have to pay almost $400,000 for it. The term for obtaining a license is limited to one month on average.

Pros

  • Decent Reputation and Experience
  • Full Due Diligence

Cons

  • High Price

As you can see, there are few regulators that issue licenses for cryptocurrency casinos. If you go deeper, you can find a lot of different licenses that receive services to ensure the players’ trust, but they do not always mean a benefit for the crypto casinos players themselves.

We tried to highlight the main licenses that casinos receive. Among them, we recommend working with services licensed in the UK, Montenegro, and Curacao. In addition to the license, there are still a lot of factors that you need to pay attention to – bonus withdrawal requirements, crypto casino brand history, player reviews, a variety of games, payment methods, and much more.

 

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