Are Anonymous Casinos Worth the Risks?
Having analysed countless licensed and unlicensed Canada casinos, our expert team is ready to provide you with a comprehensive guide on anonymous casinos. The most popular are Bitcoin casinos, which you have surely played at before. Let’s take a deep dive into the subject and reveal whether anonymous casinos are worth the risks they come with!
- What Are Anonymous Casinos?
- Are Bitcoin Casinos Safe?
- Advantages and Risks of Anonymous Betting
- Regulated Casino vs Anonymous Casino: Final Verdict
What Are Anonymous Casinos?
Anonymous casinos are gambling websites that require no identification information from users and allows them to deposit, wager and withdraw real money. These only work with cryptocurrency, and the most popular is Bitcoin.
How Bitcoin casinos changed online gambling
Ever since Bitcoin started gaining popularity back in 2008, the gambling industry started preparing for the upcoming wave of cryptocurrency users. In August 2011, Bitcoin was first introduced in the online gambling world on a Poker website that accepted only Bitcoin payments. This was only the start, as many other such platforms began to appear.
However, it was only in February 2014 that the first licensed Bitcoin casino was launched, and the Curacao Gambling Authority issued its license.
Many Bitcoin casinos are not licensed by any authority. Always check before joining one!
Are all Bitcoin casinos anonymous?
No, not all Bitcoin casinos are entirely anonymous. Bitcoin, just like any other cryptocurrency, allows you to make payments without sharing any personal details with the casino. This does offer a certain level of anonymity compared to other payment methods. However, most Bitcoin casinos require a proper registration during which you have to provide information such as:
- Full name;
- Phone number;
- Email address.
Documents for the KYC process
For account verification, you might have to send copies or photos of the following documents:
- ID, drivers license or passport;
- Bank statement;
- Utility bill;
- Payslip, dividends, pension, etc.
Therefore, casinos that do require a full registration and will perform KYC checks are not anonymous casinos even if you can anonymously deposit using Bitcoin.
Truly anonymous casinos allow you to register using an email address and will ask for no further information. No KYC will be performed whether you want to deposit or withdraw. Players can join some Bitcoin casinos even with no registration whatsoever. However, no registration casinos are not safe for players!
KYC is performed for both the casino and the user’s safety. Through this, they filter scammers out. Also, this way, the casinos make sure the player is using their own money and not committing fraud.
Are Bitcoin Casinos Safe?
There are many Bitcoin casinos on the Canadian market, and not all of them are safe to play at. Some of these have no license. However, some do have licenses, strong reputations, and some even offer a Provably Fair option. This allows players to verify a game’s outcome in a transparent manner. This way, any user can check themselves if the games are fair.
We never advise Candian players to join unlicensed casinos. If, however, you decide to do so, make sure they have the Provably Fair option, as they are widely considered to be more trustworthy.
Advantages and Risks of Anonymous Betting
Anonymous betting offers the highest level of privacy, as the name implies. Users get to be fully anonymous on Bitcoin casinos, which is the main reason they are popular. Players also love them thanks to the speed of the transactions and the low or inexistent fees. They are highly secure as well, thanks to blockchain technology. During transfers, the funds cannot be interrupted, intercepted, or stolen.
Bitcoin casinos also offer a high level of accessibility, being available even to players that live in areas where they cannot access online casinos or if their banks prohibit them from using their debit or credit card on a gambling website.
Many Bitcoin casino bonuses are available for players to claim, just as on regular gaming platforms. They range from new player deals such as sign-up bonus or first deposit promotion, to existing player benefits and recurring offers. A fine selection of Canada’s Bitcoin bonuses is here for all players to check out and pick from.
Advantages of anonymous betting
- Low to zero fees
- Higher accessibility
- Fast deposits and cashouts
- Secure transactions
- High level of privacy
Disadvantages of anonymous betting
- Many are not licensed or regulated
- No protection of funds
- New cryptos are risky
- Potentially volatile crypto payments
There are, however, some risks the players are exposed to, as shown in the table above. The absence of a license, as in the case of many such platforms, shows that it has not been audited by an authorized third-party. This allows many platforms to scam their users and offer unfair products or low-quality services.
The fact that no chargebacks can be performed means that if a user mistakenly types in the wrong amount when depositing, they cannot reverse the transfer. This asks for increased attention from the player. Also, the volatility of cryptocurrencies is nothing new. Their value fluctuates from hour to hour even, so users need to keep an eye on that as well.
New and experimental cryptocurrencies appear almost every day on the market, and not all of them are good enough to stay. However, some casinos quickly adopt them and allow users to make deposits and withdrawal. Bitcoin casinos are the safest, and some of them even offer cryptocurrency alternatives such as Ethereum, Bitcoin Cash, Litecoin, and others. These have been on the market for a long time and are safer to use than the new ones.
In some cases, Bitcoin transactions may take longer than expected! This happens because some casinos will check and perform them manually for safety reasons.
Regulated Casino vs Anonymous Casino: Final Verdict
Based on our experience playing at casinos online, the essential factor in this decision is the player’s preference and what type of experience they are looking for. It’s a matter of choice between security and privacy:
- Canadian players who prioritize security may prefer sticking to regulated online casinos.
- Still, a Bitcoin casino usually offers full anonymity, so it may be challenging to decide.
- On the other hand, players seeking privacy despite potential risks may opt for anonymous casinos.
- With Bitcoin bonuses, these casinos can provide an enjoyable, rewarding, and private experience.
- Gamers who value security over privacy might want to stick to the regular casinos.
- However, players who prefer a higher level of privacy in spite of the potential risks should choose Bitcoin casinos.
- Paired with the Bitcoin bonuses, these can genuinely offer a fun, rewarding, and anonymous experience.
One thing you should keep in mind is always checking for either a license or a Provably Fair option to make sure you play at trustworthy websites.