How to Gamble Anonymously at Bitcoin Casinos
The first step to gambling anonymously at a Bitcoin casino is to find a casino that allows you to gamble anonymously. Some casinos that take Bitcoin do make you verify your identity, for example, Slotocash will make you submit id documents and verification of your address even if you are only purchasing and cashing out via Bitcoin.
Often you will be able to see in the documentation on the website whether a particular casino does allow anonymous play. Others might allow anonymous play but not state so. For example, Sports Betting (the sister site of BetOnline) did allow me to make a purchase and a cashout using Bitcoin without verifying my identity, even though they say nothing about anonymous gambling on their website. Technically at that website, I wasn’t gambling anonymously because I did fill out a user information form listing my name, so there is that as well.
Why Bitcoin Casinos Are Different
The reason why online casinos needed to verify your identity in the past was that transactions were done using payment processors that debited your checking account or through credit cards. Both of these payment methods are susceptible to chargebacks and fraud, so online casinos would feel the need to verify your identity before processing any cashouts in order to ensure that they were protected.
Even with the verification of your identity illegitimate chargebacks can occur of course but asking for your documents and making sure that your address is accurate does help cut down on this and other sorts of credit card fraud by quite a great deal.
But Bitcoin transactions are totally secure and nonreversible, so there is really no concern about any of these sorts of abuses when dealing in cryptocurrency. In fact, a Bitcoin transaction that has gone through six confirmations is just as safe as a credit card purchase six months later.
The only real type of phenomenon that can occur with Bitcoin transactions is something that is called a double spend, where you send Bitcoins to one address and then send them to another before the first transaction has finalised. This is easy enough for casinos to protect against either by ensuring a few confirmations have gone through before letting their customers play, or at least before letting them cash out.
The Importance of Anonymity
Anonymity is a very important thing. The right to privacy has been eroded as of late, but individuals should have the ability to keep information about themselves secret from the world. Especially when it comes to gambling, which is sometimes seen as a vice and often subjected to limits and regulations by moral busybodies, being able to make your transactions with as much discretion and privacy as possible is important.
In the past, gamblers have had their bank accounts closed or limited simply because of engaging in gambling transactions. In the United States with the passage of the dread Unlawful Internet Gambling Enforcement Act, the government even criminalized the harmless act of acting as a payment processor for online gambling transactions.
Given that we are living in a world where the internet and financial transactions are becoming increasingly regulated and controlled by the state, one might argue that being able to gamble anonymously online is not simply a nice luxury to have but an issue of manifest necessity.
Choosing a wallet for Anonymous Bitcoin Gambling
Even within the Bitcoin world gambling transactions can get you in trouble. The famous Bitcoin exchange Blockchain reportedly bans users who engage in gambling transactions through their wallet. This is unfortunate because purchasing from a Bitcoin exchange is a great way to get a good deal on some Bitcoins as the margins are generally quite low. Luckily there are some ways around this.
You can obscufate your transaction by tumbling your coins, or simply just send from Blockchain to an intermediary wallet and then making your transactions from there. It is very easy to set up your own software based wallet such as Electrum, and then you have total control over your coins.
Anonymous Bitcoin Gambling: A Summary
In just a few short years Bitcoin has completely revolutionised online commerce as we know it. Money is fundamental to the health of an economy. When you look at places like Venezuela that are undergoing hyperinflation, the government is continuously printing money, and this robs anyone who saves their money of its value.
Because the number of Bitcoins is finite, this will never be a problem with it. Contrary to what hack economists have been saying for decades, there is no need to increase the money supply and doing so has pernicious effects on the economy at large. So given the transformative potential for Bitcoin to society at large, moving us away from the destructive institutions of central banking and fiat money, it is no surprise that Bitcoin is revolutionising the gambling industry as well.
Gamblers have for too long been marginalised and subjected to ridiculous hoops to jump through just to play. Bitcoin offers the ability for anyone to gamble in a completely anonymous fashion and this is something that should be celebrated.