Ready-Made Bitcoin Casinos: Fast and Legal Payments

Online casino
Updated 07 november 2022

Crypto gaming business is a highly profitable sphere with a stable legislative basis in many prestigious jurisdictions: Europe, North and Latin America, and Southeast Asia.

Bitcoin casino: general info

The Online Casino Market company offers to explore the regulation of Bitcoin wagering portals in Ukraine and other CIS countries. Over the past 3 years, the authorities of the world's leading economies have taken a confident step towards legalising transactions in cryptocurrency.

You can order a profitable Bitcoin casino script from the company. The solution can be distinguished by extended functionality, reliable operation, and a modernised catalogue of slot machines from the best manufacturers.

Bitcoin Payments: Peculiarities and Benefits

Any digital currency, including BTC, is based on the Blockchain. It is a global peer-to-peer network that ensures decentralised operation for managers in any part of the world.

The system consists of billions of chains keeping information about completed or planned transactions (according to smart contracts). Thanks to the SHA256 class cryptographic encryption, data cannot be stolen, forged, or changed.

Bitcoin casino software supports accepting deposits from players and paying out earned funds in digital assets.

The main advantages of opening an iGaming start-up with BTC payments are:

Decentralised operations

The performance of Bitcoin financial instruments does not depend on tax and customs policies, the activities of banks and other control bodies.

Payments cannot be cancelled or obstructed: the Blockchain system always functions clearly, and smoothly

Low payments

Cryptocurrencies are credited directly from the sender's BTC wallet to the recipient's account.

Interbank and state establishments, virtual exchangers and other intermediaries do not participate in the operational chain. All this decreases the cost of payments: managers work without commission deductions and bank margins

Massive audience engagement

Bitcoin casinos can be launched even in countries whose government expresses ambiguous opinions about digital money. This approach will significantly increase online traffic on the iGaming resource

Positive feedback from gamblers

Users prefer to play in BTC casinos due to the high speed and anonymity of payments.

Blockchain projects guarantee a high protection of personal data, which is also positively perceived by gamers

The Importance of Running a Legitimate Crypto Start-up

Legal crypto casino: benefits

Bitcoin wagering is a promising area with many advantages, which, however, still raises questions from government agencies.

The main difficulty with a Bitcoin casino solution is that the authorities are not yet able to manage BTC operations fully: set a limit policy, fight money laundering, and levy taxes on digital sales. As a result, crypto casinos are often subjected to unreasonable criticism from the government and all kinds of experts.

The key task of operators is to conduct a lawful and respectable business. They can confirm the legality of a crypto casino script with a licence and certificates of compliance, payment of taxes and duties.

The main reasons to legally manage a project and purchase a licensed Bitcoin gaming program are:

  1. Minimisation of fines. Entrepreneurs can make online transfers between BTC wallets, but eventually, have to trade earnings for fiat money. Any currency trade operations are associated with tax deductions: at least, the user needs to pay VAT on the amount of the margin (spread) for the exchange of funds. Non-payment of taxes entails fines, and sometimes even licence cancellation.
  2. Correct reporting. Managers who start a Bitcoin casino legally, find it easier to generate documents for fiscal services, statistics and currency control authorities. Many countries in Europe allow BTC operations to be tax-free if the reporting is done correctly and on time.
  3. Increasing the loyalty of gamers. Clients are distrustful of gambling sites without permission. Another thing is a licensed turnkey Bitcoin casino where players can make a quick bet in Bitcoins.

Legislation in the CIS Countries Regarding Digital Assets

Bitcoin casinos in the CIS countries: legislation

Let us consider the regulation of Blockchain translations in a couple of states:

Ukraine

The country began to legalise cryptocurrency and wagering almost at the same time. Both laws came into force at the beginning of 2021.

The Government of Ukraine allows the operation of online casinos, sites with lottery draws, and virtual poker rooms. Furthermore, entrepreneurs may accept deposits and pay out winnings in Bitcoin.

To use a cryptocurrency casino script in the country legally, operators must:

  • obtain a licence for the online project;
  • pass the certification of the system;
  • purchase gaming software;
  • incorporate a financial service for quick and safe transactions.

Managers may buy Bitcoin casino portals at Online Casino Market, a trusted provider of web wagering solutions.

Income received in digital assets is taxed at a rate of 15%. The authorities promise to introduce preferential revenue enhancement of crypto operations soon.

Estonia

Businessmen that are interested in where and how to start a Bitcoin casino ought to pay attention to this country.

The former republic of the Soviet Union has made a huge breakthrough in regulating crypto transfers. In addition, online gambling is legalised in the state, which is positively perceived by gamers, B2B partners and investors.

To manage a project based on a Bitcoin gambling script, businessmen need to obtain such documents:

  • approval to open a digital casino in Estonia;
  • the licence of a virtual value wallet service provider;
  • certification for a supplier of services for the exchange of virtual values into fiat money (for firms that offer payments along with iGaming products).

The wagering sphere is regulated by the Tax and Customs Department of the Estonian Ministry of Finance.

The Main Things about the Regulation of Crypto Operations in the CIS

Online Casino Market developers offer a ready-made Bitcoin casino for sale. This is a finished product that can quickly enter the promising entertainment markets of Ukraine, Estonia and other countries.

Online Casino Market has vast experience in opening entertainment start-ups in Europe. From us, you can order the service of issuing a licence in offshore zones — Malta, Gibraltar, the Isle of Man, etc.

  • BTC casinos are a promising business area. Ready-made projects offer decentralised and safe operation and guarantee fast and cheap payments. Users are attracted by the anonymity and access to BTC wallets in any part of the world.
  • Most CIS countries are working out to legalise cryptocurrency payments. Estonia and Ukraine have the most thorough legislation, while the legal framework in other countries needs to be improved.

It has been possible to start crypto casino sites in Ukraine since 2022. Contact the manager of Online Casino Market and find out more about the promising business.

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Karen Fill

Author

Karen Fill

Gambling business expert at Online Casino Market

Updated 07 november 2022