Benefits That GamStop Players Enjoy at Crypto Casinos

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Benefits That GamStop Players Enjoy at Crypto Casinos

With the best of intentions, some UK online casino gamblers will seek help with issues they might be having related to gambling addiction. They will often seek out the help they need from the resources they can find on their favorite online gambling sites.

One of the resources that could be available is direct access to the GamStop Self-exclusion program. This is a self-help solution that was innovated by the UK Gambling Commission (UKGC). If an online casino is licensed by the UKGC, they are required to maintain membership in the GamStop program.
Benefits That GamStop Players Enjoy at Crypto Casinos - 1

How GamStop Works for UK Online Gamblers

Once a UK online gambler finds the link to the GamStop database, they can voluntarily register for free. At registration, they will need to provide personal information like their legal name, email addresses, home phone, cell phone, and legal address. They will also be given an opportunity to select the length of their self-exclusion. Options include:
  • 6 months
  • 1 year
  • 5 years
After completing the registration process, the GsmStop gambler’s information goes into the database. That information will be used to block them from accessing existing accounts or opening new accounts with licensed UK online gambling operators. And, that self-exclusion will be enforced until the prescribed self-exclusion period ends. It’s important to remember that the GamStop database is only accessible to online operators that have subscribed to the program. While that certainly offers a good resource for committed problem gamblers, it still leaves a lot of ways for uncommitted GamStop gamblers to continue their online gambling activities.

Ways Around GamStop

Yes, GamStop gamblers do have ways they can still gamble even if they can’t access licensed UK online gambling websites. If players choose UK casinos not on GamStop at Casino-Wise.com, they can still find some very reliable online casino options that are very safe. Other non GamStop options include opening accounts under other real identities (family and friends) and using online gambling sites licensed in other jurisdictions.

Crypto Casinos as a GamStop Alternative

If a GamStop gambler really wants to become anonymous in their online gambling activities, there is a very interesting non GamStop option available. In recent years, cryptocurrencies like Bitcoin have gained in popularity as a means of exchange between online casinos and casino gamblers. The popularity has progressed to the point that the UKGC has licensed quite a few crypto-only online casinos and sportsbooks. Why is this good for GamStop gamblers? Cryptocurrency transactions are recorded through a decentralized registry that is managed by literally thousands if not tens of thousands of independent crypto users. When a transaction is initiated and finalized, the only remnants of the transaction are a transaction code that is communicated only to the involved parties. Furthermore, the coin value is simply moved from one crypto wallet to another. At no time is either involved party required to disclose any meaningful personal information. The transactions are anonymous. While anonymity is the primary benefit associated with using cryptocurrency as a means of exchange with an online casino, there are other benefits of interest. Some of these additional benefits include:
  • Low or no transaction fees charged on deposits or withdrawals compared to credit cards
  • All deposit transaction can be completed within minutes
  • Withdrawals are also fast because casino’s face no exposure with the crypto already in the casino’s wallet
Of course, all of these benefits are going to hold great appeal. However, there are a couple of negatives associated with using cryptocurrency to transact business with online casinos. First, the value of cryptocurrencies is very volatile. Every minute of every day, the price is changing as investors buy and sell coins through crypto exchanges. A casino player might deposit bitcoin valued at $45,000 a coin one day only to wake up the next day and see their account’s value has dropped without them having made a bet. Of course, the price could move in the gambler’s favor, but that’s the point. There is unpredictable volatility involved. As for the other meaningful negative, cryptocurrency transactions come with no guarantee. If someone hacks a gambler’s crypto wallet and steals their coins, the gambler has zero recourse. Remember? Crypto-users are anonymous. If a UK online gambler is interested in using crypto as a banking option, it’s up to them to weigh the benefits and negatives and make a decision.
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