Table of Contents
Introduction
This article discusses crypto online casinos, specifically in Norway. We can argue that the Norwegian government’s restrictive nature towards online gambling has made online crypto casino’s a feasible option for Norwegian gamblers. Alexandra Nereng is going to define some of the most important concepts relating to this theme.
Definitions
Online Casino
You can find more than one online casino in Norway. These sites offer patrons the opportunity to gamble from the comfort of their own homes. Advancements in technology have made this a feasible alternative. People can play for fun or to aim high in the hope of winning.
Crypto
Many people are unaware of what is meant by “crypto”. It has become an accepted long-term investment method. However, crypto has gained popularity as it is now a currency that helps people bet at offshore casinos. As will be discussed below, this is particularly relevant for casino lovers in Norway.
Crypto Casinos
A Crypto casino is a casino that accepts cryptocurrency as a form of payment for players to either deposit the money they want to gamble or withdraw their winnings. Crypto casinos have all the usual gambling games found in casinos with a possibility of a few extra games.
Crypto casinos in Norway
Background
In Norway, Norsk Tipping is the association that is in charge of online gambling. It is a website that offers regular gambling games. The gambling industry in Norway is quite limited and entirely monopolized by the government. Its overseas competitors offer much more exciting games and a better variety. Many of the gamblers in Norway thus prefer to bet at overseas casinos.
This was possible until 2017 when Norway’s government decided to take a stand against these practices. It forced banks to stop payments to and from and offshore casinos. The government also barred e-wallets and credit card providers from providing their services to those gambling at overseas online casinos. Finally, it also forced advertisers to stop advertising foreign casinos, and of course, this resulted in a loss of revenue.
Solution
Crypto became the solution for gamblers in Norway. People wanting to use a crypto casino simply need two things:
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Firstly to register at a crypto casino that will accept players from Norway. This is not difficult as there are many choices like 7Bit Casino is just one example.
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Secondly, to acquire some cryptocurrency. We can accomplish this with ease. For example, the e-wallet PayPal allows for the buying of crypto.
All that gamblers in Norway need to deposit some cash in PayPal or some other crypto accepting wallet. Once this is achieved, crypto can be bought to be used at their favorite crypto casino. They can check their preferred Norske bettingsider and gamble to their heart’s content.
Advantages of Crypto Casino’s
Many have argued that crypto casinos ensure that their government’s restrictions do not inhibit gamblers in Norway. The advantages cited are:
No Government Regulations
Governments cannot regulate cryptocurrencies. The Norwegian government cannot control who obtains or how the cryptocurrencies are used. As a result, the government cannot control those casinos that use cryptocurrencies. Citizens who wish to gamble are now in control.
Increasing value
Cryptocurrencies have steadily been increasing in value. As a result, those Norwegian gamblers who have crypto stored in their e-wallets have benefited. It is also a known fact that even when the value of crypto declines, it tends to leap back fairly quickly. It is, therefore, important to watch the market value before buying or selling any crypto.
No Intermediaries
Crypto removes the need for intermediaries like banks. This results in minimal fees charged and no charges from banks, credit cards, and e-wallets providers. Having said this, We must note that crypto is not free of charge. Transactions have to be verified by “miners” who charge a small fee which is considerably cheaper than traditional financial institutions.
Anonymity
Crypto accounts are anonymous. No one knows how much is in the account nor the amount played at the crypto casino unless the password is given.
Rewards
Many crypto online casinos reward their users. When registering a new crypto account, the casino rewards the person with extra crypto in their wallets. This is never equally matched by regular online casinos.
Conclusion
The above article has discussed online crypto casinos in Norway. It is argued that the restrictive nature of online gambling in Norway makes the use of cryptocurrency very encouraging. Certain advantages were discussed, showing the reasons for the increase in its popularity in Norway. It seems that cryptocurrencies are paving the way forward for future gambling.
Author’s bio: Alexandra Nereng follows up the booming of the Gambling field and popularity of gaming so she is creating a lot of content about gambling to impact the growth of good quality gambling sources.
