Bitcoin gambling is becoming a very popular in the online gaming market, and we are seeing many poker, casino and betting sites popping up everywhere. They are popular among operators because they do not require a license, but the Spanish government aims to close this loophole. This week, lawmakers in Spain announced their plans to introduce regulation and licensing for Bitcoin casino operators.

Now, Bitcoin-based gambling websites will be required to apply for licenses before being able to offer their services to local residents. The new law may also see the introduction of a new limit on Bitcoin gambling, up to €2500.

“The ‘big-theme’ news here is that Spain is starting to treat bitcoin more like a currency than as an asset, which is the inverse of what the US has done,” says Coinffeine CTO and co-founder Ximo Guanter in an interview with Coin Desk. Treating Bitcoin as a currency will apply mainly at gambling sites.

There is no word yet on whether or not Bitcoin will receive the same treatment in other capacities, such as online shopping. In addition to obtaining a licensing to process bitcoin payments, gambling sites will also have to obtain gambling licenses. This will ensure that all gambling websites in the country adhere to a strict set of regulations that prioritise player safety.

It is quite dangerous to have players wagering at unregulated websites, even if they are just betting with bitcoins. So, the local government aims to keep players safe by ensuring that the Bitcoin casino sites they are using are regulated.

“In consideration of the foregoing, betting activity with bitcoins is included within the definition of gambling,” reads a statement from el Ministerio de Hacienda.

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.