Colombia Joins the Bitcoin Gambling Game

Recent anti-gambling legislation in Colombia has helped to clear the country’s pathway towards online bitcoin casino gambling

With demand for casinos and online casinos at a staggering high, it often enters a higher power’s interests (i.e. the government) to restrict or regulate gambling, which isn’t surprising considering the money involved in the industry. However, every cloud has a silver lining, so they say. In Colombia’s case, the attempts of the Colombian government to restrict online gambling has provided a glowing opportunity for the growth of online bitcoin casinos among a Colombian customer base of regular online casino players.

Colombia Joins the Bitcoin Gambling Game
Colombia Joins the Bitcoin Gambling Game

The gambling regulatory committee of the South American continent has decided to ban more than 300 different online gambling sites, including well-known gambling companies such as William Hill and Paddy Power. The decision comes after the casinos’ refusal to pay a licensing fee to allow their casinos’ betting to continue in Colombia, which would never have gone down well in a country where the disposable income would fail to cover such costs.

The licensing fees that online gambling websites were expected to pay in order to continue providing their services in Colombia exceeded $160,000 per casino operator, meaning online casino providers have had to make the not particularly difficult decision of kindly declining and bidding Colombia farewell.

Colombia is not alone in its decision to slap licensing fees on gambling sites running in its country – Russia and Australia have also attempted to restrict online gamblers’ freedom, which, especially in Australia’s case, could eventually lead to gambling companies withdrawing their online gambling services from these countries altogether.

So with the front door to Colombia’s online gambling industry closed for who knows how long, the back door remains ajar allowing entry into the healthy and thriving industry of online bitcoin gambling in Colombia. As internationally reputable casino providers will no longer be able to service in the country, nor will Colombians be able to gamble online using their national currency, in this way painting online bitcoin casino sites as a welcome alternative to regular online casinos.

An example of where online bitcoin casino websites are replacing regular online casino sites is in the US, where an all-round ban on the use of the dollar in online gambling transactions has created a booming market base for online bitcoin casinos, and with their increasing popularity internationally, online bitcoin casinos are in hefty supply and are readily available. US online turned bitcoin gamblers are taking advantage by investing their dollars into purchasing bitcoin from sites such as Coinbase, filling up a bitcoin wallet that you can create on the Blockchain site, and transferring their bitcoin to bitcoin casino sites where players can continue to joy in the highs of online gambling without feeling any the repercussions of the US gambling ban.

Providing an incredibly attractive online alternative to what in many countries like Colombia is now essentially nothing besides traditional gambling in brick and mortar casinos, online bitcoin casino sites are taking the not only the Colombian but also the global stage and are being applauded by their players the world over.

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