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When you deposit with Bitcoin at online casinos, you can count on instant transactions which means you can start playing your favourite real money casino games straight away.
You cannot simply deposit cash in a bank account, and expect to play straight away and withdraw all of your winnings that day.
If you are an online gambler, the online casinos will generally take a minimum 5 days to verify your bank account.
You can find out your bank account verification time by calling the ATM or other payment service provider that is handling the withdrawal process.
The casino may ask whether you’re a UK resident – which will generally be stated on the back of your deposit slip.
If you’re from outside the UK or you don’t have a UK banking account then you will need to provide a form of ID or proof of address.
This can be provided in one of two ways:
by presenting a current utility bill, bank statement or mobile phone bill that proves your address (as long as they were issued on or before 1st September 2017).
by presenting a government issued document (such as a passport or driving licence) that shows your address and which also proves your name and the name of your current bank account holder or your home address
For more information see: Is Your UK Bank Account Valid For Bitcoin?
Deposits with Bitcoin and other cryptocurrencies – when you deposit with bitcoin or any other cryptocurrency, you need to know that at present you cannot simply take out cash and play.
In addition, the way they are regulated means that for every £1 given as ‘cash deposit’, there is a minimum charge to receive it.
This means that to take out £10 of coins, you will pay £1 to the casino and you will receive £9 when you win the games.
Once you deposit, you may have to wait 24 hours or longer before you can withdraw your winnings.
You will not receive a statement regarding your winnings by email, because most casinos are subject to the UK government’s Electronic Money Regulations.
As long as you win a bet or game of online games, you are not liable for any losses incurred by your account. In order to claim a win you will need to submit a report with the casino in writing.
As long as casinos follow these regulations, it is very unlikely for most of us to be subject to a claim.
As a result, it is almost impossible to lose money with Bitcoin payments or deposits – but there is no guarantee that will always be the case.
It is possible that you may lose money if you play by
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