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Deciphering the Mysteries of Bitcoin and DarkWeb Gambling
Reading Time: 4 minutes
Most people don’t pay much mind to crypto gambling, unless they are players themselves. However, crypto gambling is a significant part of the cryptocurrency market. For example, in 2018 Bitcoin casinos were responsible for approximately 50% of all BTC transactions. So let’s look past the surface and dive a little deeper. Here’s what you should know about Bitcoin gambling on the surface web and the deep web.
Simply put, crypto casinos are casinos where players can top up their wallets, hold accounts and pay out their winnings in some form of cryptocurrency. Casino Guru, which has the largest up-to-date database of online casinos, additionally defines two varieties of crypto casinos. The first variety could be considered a “standard” crypto casino, is basically the same as any other online casino, but allows players to make deposits, play, and/or cash out in cryptocurrencies.
It requires identity verification, a standard feature of the online gambling industry. But there are also so-called “anonymous” casinos, which require no identity confirmation at all, only an e-mail, username, password and a crypto wallet. The Casino Guru database contains 161 casinos that can be classified as crypto casinos, but only 32 anonymous casinos.
Why has crypto gambling gained so much traction? To understand the answer to that question, we need to have a quick look at some of the legislation concerned with online gambling in general. Online gambling is very strictly regulated or outright banned in many countries. For example, there are only three states in the entirety of the USA, where online casinos are allowed operation. The Unlawful Illegal Gambling Enforcement Act (UIGEA) of 2006 forbids online wagering. But it has a loophole. It only specifies wagering in fiat.
And it’s not just America, that has a hole in their legislation in terms of crypto gambling. In truth, there are only 7 countries in the entire world which have a semblance of crypto gambling regulation. Namely, these are: the UK, Italy, Netherlands, Greece, Poland, Belgium and Japan, which is currently considering legislative solutions.
Coming back to the two varieties of crypto casinos mentioned earlier, anonymous casinos actually can’t get a license anywhere at the moment, even if they wanted to. The way they operate just doesn’t match the requirements of any reputable online gambling licensing authority.
For the majority of the world, bitcoin and other crypto are casinos in a legal grey area – not technically legal, but not illegal either. So, players that couldn’t scratch their gambling itch otherwise suddenly found themselves with a solution. A solution that allows them play anonymously (in some cases), from the comfort of their home and offers them an incredibly wide variety of games to choose from.
Though it is true that countries can still bar their citizens’ access to certain sites, like these crypto gambling sites specifically, this has done nothing to stop determined players. In the past, gamblers needed to download the TOR browser (abbr. The Onion Router), which granted them access past the constraints of surface web browsers and into the deep net. There, Hidden Wikis, which are sites aggregating links to various parts of the deep net linked to a crypto casino of their choosing and their game began. The benefit of this being that the combination of TOR and cryptocurrencies made them virtually untraceable by their own governments.
But there is a reason to why there are so many horror stories about the deep web. The deep web harbors numerous fraudsters and scam artists, which we’ll get into in a second. But thankfully, the advent and popularization of VPNs (abbr. Virtual Private Networks) has enabled players to enjoy safer experiences on the surface web. Crypto casinos operating on the surface web often publicize parts of the code they run on to boost trust with their customer base and avoid the negative reputation deep web crypto casinos have garnered.
As you can imagine, there’s a big “BUT” to everything we’ve told you so far. Be honest, you saw it coming from a mile away. So, what’re the issues with crypto gambling?
1) Crypto gambling can be fraught with crime. Especially so on the deep web, but you can run into scams and unfair practices even on the surface web. As the Routine Activities Theory of crime states, crime occurs whenever a suitable victim, a lack of capable guardian and a motivated criminal come together in one place. And when you have people willing to risk their hard-earned crypto on gambling, in an environment with limited or no law enforcement, you’ll find plenty of people more than willing to rid these players of their BTC.
The most popular crypto gambling scams across the web are:
- Ponzi schemes
- Deposit scams
- Fixed games
- Deposit syndicates
On top of that, money laundering is also a quite common occurrence in the crypto gambling sphere. But it’s not just the players who are at risk. Even the casino itself can become a victim to hackers, which would love nothing more than to empty out the casino’s crypto wallet.
2) Crypto gambling can be even more addicting than traditional gambling. Problem gambling, also known as gambling addiction, is an issue that the entire gambling industry at large has to face. However, though traditional casinos and betting can be addictive, online gambling even more so, crypto gambling poses the biggest risk to unsuspecting gamblers.
Crypto casinos operating on the fringe of the law can titillate potential customers with very aggressive advertising and marketing tactics, making them offers on bonuses and benefits, which no other casino can. That’s due to the fact that unlicensed casinos do not have to pay the standard fees that come with gambling operations, like tax, licensing fees, etc.
Then, once the player is drawn in, they get hit with the promise of fast payouts, quick game results and nearly limitless bet heights. Some illegal BTC casinos take full advantage of their position and completely disregard the recommended responsible gambling practices. After all, the more players you hook, the more money you make.
Then, there’s the simultaneous benefit and downside of anonymity. Since anonymous crypto casinos don’t require any form of identity confirmation, they’re easily accessible even to people who have no business being there. That goes for self-excluded players, as well as underage gamblers, who are especially vulnerable to gambling addiction.
In closing, though the siren call of crypto casinos may be tempting, be aware of the dangers that you might face by choosing to chase those sweet crypto winnings. Though there always is a risk factor in gambling, but playing in unlicensed casinos may make the risk greater than it is worth.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Deciphering the Mysteries of Bitcoin and DarkWeb Gambling
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GGPoker Launches Online Poker Millionaires – A New Docuseries Showcasing The High-Stakes Online Poker World Of GGPoker
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Online Poker Millionaires Episode 1 to premiere on GGPoker’s YouTube channel this Wednesday, November 12
GGPoker, the World’s Biggest Poker Room, is excited to launch Online Poker Millionaires, a new docuseries that takes viewers inside the world of high-stakes online poker. The series trailer will go live on GGPoker’s official YouTube channel on Monday, November 10, with Episode 1 featuring Alex Theologis made available on Wednesday, November 12.
Series Description
Online Poker Millionaires is produced in association with POKERfilms and reveals how the game’s most dedicated players turn a laptop, ambition, and discipline into real financial success. Online poker isn’t just a game – for some, it can be a path to financial success, where real money and real careers are built at GGPoker.
Each episode follows a different high-stakes player, uncovering the mindset, routines, and drive required to compete for life-changing prizes from behind the screen. The debut episode features Alex Theologis – a GGMillion$ and WSOP champion with over $9 million in GGPoker tournament earnings – offering an unfiltered look at the grind, preparation, and passion that define one of online poker’s most respected professionals.
Launch Week Schedule
- Monday, November 10 at 17:00 UTC | 12:00 EST: Official Trailer Launch on GGPoker’s YouTube Channel: YouTube.com/@GGPoker
- Tuesday, November 11: GGMillion$ live broadcast – Alex Theologis joins Jeff Gross as guest commentator at 18:15 UTC
- Wednesday, November 12 at 17:00 UTC | 12:00 EST: Online Poker Millionaires Episode 1 Premiere exclusively on GGPoker’s YouTube Channel
- Thursday, November 13: Reddit AMA (Ask Me Anything) with Alex Theologis on r/poker, discussing the making of the episode and his online poker journey
“Online poker let me build a life I never thought was possible when I started out,” said Alex Theologis, online poker professional. “It’s tough sometimes, but I wouldn’t trade this job for anything. I just want people who watch Online Poker Millionaires to get a real, honest look at what it means to be a professional player.”
Mike Bailey, Director of Online Poker Millionaires, added: “When GGPoker approached me to create Online Poker Millionaires, I felt empowered; I wanted to show viewers the real people living real lives behind the monitors. These high-stakes pros may not care for the limelight, but I felt it was important to be able to highlight the talent and dedication that goes on behind closed doors on a daily basis.”
To be ready to catch every moment of the upcoming Online Poker Millionaires, please subscribe to GGPoker’s official YouTube channel at GGPoker.TV.
The post GGPoker Launches Online Poker Millionaires – A New Docuseries Showcasing The High-Stakes Online Poker World Of GGPoker appeared first on European Gaming Industry News.
Reading Time: < 1 minute
The International Esports Federation (IESF) proudly announces the 19 nations set to compete in Mobile Legends: Bang Bang (MLBB) at the 16th World Esports Championships (WEC25), hosted in Kuala Lumpur, Malaysia.
This year’s MLBB competitions will see teams from Egypt, South Africa, Dominican Republic, Peru, Colombia, Argentina, Bolivia, Kazakhstan, Mongolia, Nepal, Cambodia, Indonesia, Myanmar, Iran, Türkiye, Belarus, Romania, Uzbekistan, and host nation Malaysia come together in the spirit of unity, passion, and competition.
From South America to Central Asia, and from Europe to Southeast Asia, the World Esports family will once again gather under one banner, celebrating the values that define the IESF: inclusivity, integrity, and the joy of play.
“Each year, the World Esports Championships bring together athletes and fans who share the same dream, to connect, to compete, and to grow,” said Boban Totovski, IESF General Secretary. “We’re proud to see Mobile Legends: Bang Bang continue to bridge cultures and inspire players around the world. Malaysia will be an incredible stage for this year’s competition.”
The WEC25 MLBB tournament will shine a spotlight on both rising stars and champions, with every nation bringing its own story, its own energy, and its own pride to the world stage.
As the host country, Malaysia is ready to welcome the world with open arms, offering a unique blend of culture, passionate fans, and an esports scene that continues to grow year after year. WEC25 will once again prove that esports is more than a game, it’s a moment where nations unite, athletes rise, and communities grow stronger together.
The post 19 Nations Set to Compete in MLBB at The World Esports Championships 2025 in Malaysia appeared first on European Gaming Industry News.
Reading Time: 2 minutes
Yaspa, the award-winning Pay by Bank fintech, today announced a new partnership with Sterling Lotteries, the UK’s market-leading External Lottery Manager (ELM). Sterling has selected Yaspa as its primary open banking payments provider for prize-led fundraising, enabling faster, safer, and more efficient supporter payments across its charity lottery programmes.
Sterling powers weekly lotteries and raffles for 800+ UK charities, from local organisations to national causes. By integrating Yaspa, Sterling can offer a streamlined Pay by Bank experience that confirms entries in real-time, reduces processing costs, and strengthens fraud protection, thereby freeing up more funds for impact.
Yaspa’s Head of Commercial, Amie Kadhim, said: “Sterling sets a high bar for reliability, security, and supporter experience. We’re proud to power their next chapter with instant bank payments that help charities move faster, enhance engagement, and achieve more with every donation.”
The partnership aligns with Sterling’s ongoing modernisation of the charity lottery model, bringing the convenience supporters expect, while improving cashflow and operational efficiency for fundraising teams. Entry confirmation is immediate and funds settle instantly, helping charities plan with confidence and reduce admin overheads.
Richard Dixon, Managing Director at Sterling, said: “We’re thrilled to be partnering with Yaspa to deliver an open banking solution that represents a true sector-first innovation. From the outset, it was clear that Yaspa shares Sterling’s vision for using technology to drive meaningful change in the charity lottery space. Open banking has transformed retail and financial services and now we’re bringing that same innovation to fundraising. It’s faster, more secure, and significantly more cost-effective for charities. By harnessing open banking, we offer charities a bold, efficient, and future-proof way to engage supporters, especially digital-first donors who expect a seamless experience.”
Key benefits for Sterling and its charity partners include:
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Instant payment settlement and immediate entry confirmation
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Lower processing costs compared with traditional methods i.e. debit and credit cards
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Reduced fraud and chargeback risk, utilising bank-grade security
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A smoother, mobile-first, user journey for supporters
The post Sterling Lotteries selects Yaspa as its primary open banking payments partner appeared first on European Gaming Industry News.
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