Are There Bitcoin Casinos in Japan?
Bitcoin, and cryptocurrency in general, have revolutionized the world of casinos. Bitcoin remains the most popular digital currency and it has become a game-changer in the world of online casinos. Online casinos and players are gradually favoring crypto as a means of wagering and it is fast becoming an effective payment option in the world of casinos.
Today, Bitcoin casinos have found their footings in the game industry and many large-scale casinos have at least adopted the payment method. Casinos operating in different continents and countries are adopting cryptocurrency and Japan is not left out of the trend. Players can find numerous reputable Bitcoin casinos for Japan across the internet.
Are Bitcoin Casinos Legal in Japan?
Gambling is restricted in Japan but there are multiple exceptions, which include gambling on motorsports, public sports, and horse racing. Although Japan is very strict when it comes to law adherence, the unclear clarifications and generality of betting laws have created a lot of gray areas.
When it comes to Bitcoin casinos, there is nothing concrete that restricts their operation in the country. Many legal practitioners have argued that the Criminal Code of Chapter 23 of the Japanese penal code does not expressly restrict Bitcoin casinos’ operations in the country.
This makes it possible for these casinos to thrive, albeit, quietly, in the country. In the eyes of the law, Bitcoin casinos are illegal but in reality, they are widely accepted among punters in the country.
Bitcoin-based Casino Gambling in Japan
As mentioned above, the provisions governing the activities of casinos in Japan and the legal system, in general, are a gray area. Additionally, the cryptocurrency market in Japan has an unclear regulatory scenario, and this has further encouraged Bitcoin-based casinos and players to thrive. In truth, Japan is one of the top countries that trade in cryptocurrency.
The country accounts for over 50,000 bitcoin trades daily. Today, it is very common for Japanese punters to use online Bitcoin-based casinos without any fear of arrest or punishment. By the way, online casinos are accessed from the comfort of the players’ home, which makes it difficult to restrict bitcoin wagering in the country.
Since bitcoin is not regulated by any central authority, it becomes impossible to strictly monitor transactions. Additionally, most of these Bitcoin casinos are registered overseas and they only offer games to Japanese gamblers. This makes it difficult to monitor their activities, even if the government tries.
How Do Bitcoin Casinos work in Japan?
Players can deposit bitcoins into their casino accounts if they have a funded BTC account. The process of funding a bitcoin casino account is a bit different from the traditional casinos. The first step is to open a BTC wallet and fund it with bitcoins. With the bitcoin in your BTC account, you can open your Casino account and select BTC as your option of payment.
Copy the displayed BTC address and past it in your bitcoin account. Provide the specific amount you would like to deposit and click the ‘Send’ button. Wait for the blockchain network to verify the transaction and you will see the fund in your Bitcoin casino account as soon as this is complete.
To withdraw your winning, simply request a withdrawal of your winning into your BTC wallet. When the routine verification process to be completed, the fund will be transferred to your BTC account. From here, you can trade, hold, or convert it into fiat money.
Cryptocurrencies are gaining a reputation already with many investors adopting the technology daily. For online casino gambling, it is one of the newest payment methods and its adoption is growing significantly across the world, including Japan.