As online gambling expands to more households in the UK, the UK Gambling Commission (UKGC) gets more concerned about problem gambling issues that could affect the country. It’s a viable concern because as the number of online gamblers increases, so too does the number of people who will end up with a gambling addiction.
In an effort to keep this issue from becoming a major issue, the UKGC recently implemented a self-exclusion program as a universal problem gambling resource. Initially, the program did not come with any mandates. Each UK online gambling operator could decide for itself whether or not to subscribe for a fee to the GamStop scheme. Less than two years ago, UK online operators were put on notice that membership in GamStop would be mandatory with fines and loss of licensing possible for non-compliance. While enforcement has been an issue, most of the UK’s top online gambling operators have complied.
About GamStop Gamblers
When a UK gambler is using a licensed UK online gambling website, it’s very likely they can access the GamStop registry. It’s easily available to UK gamblers who want to avoid issues related to gambling addiction. Registration is free and easy. Also, gamblers get to decide how long they want their self-exclusion to last (6 months, 1 year, 5 years).
After a gambler completes the GamStop registration process, they are restricted from using their existing gambling accounts and opening new accounts. Of course, this is only applicable to UK gambling sites that are licensed and subscribed to the GamStop scheme.
How GamStop Gamblers Can Get Around GamStop
There is little doubt that GamStop works very well at helping problem gamblers who are committed to taking a break from their online gambling activities. However, the program has little value when a registered GamStop gambler decides they want to resume their online gambling activities even while their self-exclusion is ongoing. Why? There are lots of ways to get around GamStop until a gambler’s exclusion period ends.
The most popular option for getting around GamStop is looking for the best UK casinos not with GamStop option. Rest assured, there are lots of these options available. Other non-GamStop alternatives include:
- Gambling through online sites licensed and regulated in other countries
- Partnering with a friend or relative on a new account in the friend or relative’s name
- Using land-based gambling options until self-exclusion end
- Using Crypto-only casinos
- Often there is a recommendation to use a VPN, but in the case of non-GamStop sites, the use of a VPN is not necessary
In the next section, the information is going to focus on how crypto-only casinos are a solid alternative for GamStop gamblers.
Crypto-Only Casinos a Viable GamStop Alternative
In recent years, cryptocurrencies like Bitcoin have gained in popularity because more merchants and services providers are willing to transact in cryptocurrencies. This hasn’t been lost on a UK online gambling community that is always on the prowl for new and easy-to-use banking options.
The fact is using a cryptocurrency might offer the perfect solution for online gamblers who want anonymity to avoid self-exclusion programs like GamStop.
The reality is cryptocurrencies offer all users a lot of anonymity because of the way cryptocurrency transactions are recorded. All crypto transactions are recorded on a sequential decentralized registry where a consumer’s/merchant’s identity is of no consequence. Everything is managed through digital verification and transaction codes.
Think about how well that works for an online gambler using a crypto-only gambling site in the UK. They can transact business with the casino or sportsbook without ever having to disclose any personal information. All they need to do is provide the gambling operator with an account user name and access to a viable crypto-wallet. It really is that easy.
Other Advantages of Using Crypto as a Gambling Account Banking Option
While complete anonymity is the top reason cryptocurrencies might be the future of the UK online gambling industry, there are other ways gamblers can benefit from using them to transact business with an online gambling operator.
First, crypto-only casinos tend to charge very low or no fees for crypto transactions because they don’t require any intervention from the operator’s staff. Second, transactions can be processed quickly because transaction verifications are not necessary. Third, crypto-only casinos offer higher deposit/withdrawal limits because such transactions come with no risk to the casino. Finally, crypto-users often get extra bonus offers to entice the use of crypto.
There Are Disadvantages to Using Crypto-Only Casinos
At this point, cryptocurrencies are still not mainstream means of exchange. There are still too many questions out in the marketplace regarding valuations and transaction processing. Keeping these things in mind, there are some disadvantages to using crypto as a gambling account banking option.
First, cryptocurrencies like Bitcoin are very volatile as trading commodities. Within minutes, prices can rise and fall by percentage points. Now, that could happen to the benefit or the detriment of an online gambler using a crypto option. The bad thing is the volatility creates risk on one side of the ledger or the other.
The other primary risk is the UK government could ban or restrict the use of cryptocurrencies by residents as a means of regulating the crypto market. If the government were to ban cryptos, it could have an immediate and negative impact on crypto gamblers.
Conclusion: For the most part, the advantages of using cryptos to transact with online casinos seem to outweigh the disadvantages. In the next couple of years, the picture should become clearer as the UK government clarifies how they intend to regulate cryptocurrency markets.