Given the growth in the cryptocurrency industry in India, since the Supreme Court overturned the trading ban earlier this year, it’s not surprising that many Indians are looking to use cryptocurrencies like Bitcoin at online casinos.
They are on the look for Bitcoin casinos accepting Indian players in order to deposit and play, some of them listed on that page, which was the most extensive guide on the topic that we were able to find. So, what is the legal situation regarding this activity? Let’s take a closer look at this.
The legality of using Bitcoin at an online casino in India
Let’s start by saying that there is currently no law against using Bitcoin in India. So, it’s perfectly legitimate for people to use the cryptocurrency in the country. It’s possible that anti-cryptocurrency laws will be passed in the future, following the Supreme Court Decision. Although, the growth in the Indian cryptocurrency industry is making a blanket ban more unlikely.
The situation regarding playing at an online casino in India is not legally defined. The Public Gambling Act of 1867 which prohibits land-based gambling in most states does not cover online gambling. It’s also important to mention that the Information Technology Act of 2000 does not specifically refer to online gambling either. Given this situation, around 80% of people in India have gambled at some point.
So, there does not seem to be any legal reason why people in India cannot use Bitcoin at an offshore online casino. In fact, there are several advantages to be had from doing so.
The advantages of using bitcoin
There are several positives to be gained from using bitcoin at an offshore online casino which provides this service for Indian players.
- Bitcoin is a safe option. The transactions are processed within the blockchain. This process is designed to provide extra security. This is in addition to the security used on the websites of offshore casinos, such as SSL encryption.
- No personal billing information is required for Bitcoin transactions as they are anonymous. This helps to protect personal data.
- There are no fees attached to Bitcoin transactions so anyone using an online casino does not have to spend any extra cash on top of their deposits.
- Most Bitcoin casino deposits are processed instantly. This means that players do not have to wait around for funds to appear.
These are significant advantages of using Bitcoin as a deposit method at an online casino.
So is it allowed?
You can clearly see that there is currently no legal regulation in place to prevent a person in India from using Bitcoin at an offshore online casino. In fact, doing so can be advantageous in terms of security and cost.
There may be legal restrictions imposed in the future. However, given the popularity of both cryptocurrencies and online casinos with Indian people, it seems unlikely that any regulations will be too restrictive.
In the meantime, there are plenty of reputable offshore casinos that provide the opportunity for Indian players to deposit using Bitcoin.