News

Norwegians are increasing their use of Cryptocurrency due to gambling restrictions

There are many things that make Norway unique; The Norwegian regulations on gambling, for example. You may have already discovered that the restrictions are much stricter than in other European countries. The biggest and most critical differences lie in how the casinos handle your money.

Limitations in Norway compared to other European countries

The governing authorities in Norway want to ensure public control of gambling, primarily with regard to Responsible Gambling and Crime. They try to do this through Norsk Tipping and Norsk Rikstoto: Only these two players are allowed to offer gambling within the Kingdom of Norway. Foreign gaming companies cannot offer or market such games in the country, but it is still allowed for Norwegians to play with foreign gaming companies.

In order to prevent players from passing through the Norwegian gambling market, Norwegian banks are not allowed to transfer money directly to gambling companies (ie online casinos). The ban applies to both deposits and payments. Customers are therefore having a hard time using online casinos (other than the state owned Norsk Tipping). 

Norwegians start using cryptocurrency to circumvent restrictions 

It was almost to be expected that cryptocurrencies would find their way into the casino universe, especially given the myriad of different regulations, rules and restrictions that include common payment methods. Some computer-savvy players have already switched to playing casino with Bitcoin, since they do not have to worry about the silly bans that include VISA/MasterCard  in Norway. An increasing number of online casinos have begun to allow payments with Bitcoin and other cryptocurrencies – deposits and withdrawals go extra fast and smoothly here, without any waiting time. What’s not to like about it?

Online casinos with Bitcoin

It’s been a while since the very first online casinos focusing on Bitcoin and other cryptocurrencies opened their digital doors, some of the most established actors in the indusry have even started to accept crypto payments! CasinoSelfie have written about several online casinos that accept Bitcoin on par with all the usual payment methods, but there are also certain players that focus exclusively on Bitcoin – including Bitstarz, where you can find slot machines from both NetEnt and other well-known providers. Such online casinos are growing at lightning speed, so we recommend all our computer-savvy readers to try them out. The advantage of such online casinos is that they give you a completely anonymous experience and the opportunity to win the most lucrative cryptocurrency out there. If you win ten Bitcoin coins, you have become almost a 100,000 dollars richer!

Deposits / withdrawals with Bitcoin

Since Bitcoin is a decentralized currency, both deposits and withdrawals go directly – ie without any intermediary. You send your coins to the BTC adress shown on the deposit page on your casino, and you will see the coins on the balance of your selected online casino when the transaction have been confirmed. From there, you can play and enjoy, yes, even claim welcome bonuses and other cryptocurrency reward campaigns, and then take them out at your convenience. When it comes to withdrawals, the same process will apply – you send a request to the casino, they review the account and check that everything is in order, and then send the BTC adress you want the money withdrawn to. Very simple and easy, something countless players are already taking advantage of!