Digital currency might have been an oddity once, but adoption has steadily increased since Bitcoin hit the scene in 2008. Aside from being a highly volatile investment instrument, crypto is also widely available for online gambling. The words ‘crypto gambling’ might have questionable connotations and cowboy outfits certainly abound. However, there are operators willing to accept crypto for gambling who are striving to run a more reputable service. It is these, and others, that some UK punters are considering turning to as frustration mounts over UKGC regulations.
The UKGC has been more than willing to sling regulation after regulation at online gambling in an attempt to protect players – as they see it. However, to paraphrase Einstein, every action has a reaction, and in the case of ‘more regulation = better’, certain UK gamblers are feeling the pinch. Many are starting to weigh up the pros and cons of playing at crypto casinos as a possible answer.
Amongst British gamblers, common grievances include the absence of auto-spin buttons, no bonus buy option, slow spins, lower RTP, intrusive affordability checks, and annoying responsible gambling popups. As well as these, there is talk of an almost 1984 Orwellian atmosphere setting in, where players are afraid of receiving negative treatment after displaying certain behaviours such as setting gambling controls or chasing losses.
While UKGC measures might have been set in place with gamblers’ best interests at heart, some see them as overkill and have been put on edge. On May 13, member ‘dkwyw’ created a thread on Casinomeister, venting some of his frustrations over the UK regulations, writing…
I’m fed up with unwanted restrictions being forced on my accounts.
I’m fed up with casinos abusing GC regulations to withhold balances to ransom.
I’m fed up with constant fear of having my balance frozen.
I’m fed up with feeling the need to leave balances in a casino for fear of reaching a new deposit trigger.
I’m fed up with chasing losses because I’m worried a loss might trigger account suspension.
I’m fed up with RTP increases.
I’m fed up with no bonus buys.
I’m fed up with no auto button.
I’m fed up with aggressive pop-ups interfering with my play.
I’m fed up with feeling unable to set on-site gambling controls for fear of future reprisals.In short, I’m done with UK regulated casinos.
Senior member ‘Mr_Slot5’ summed the attitude up as;
‘The more the UKGC alienate the casual gambler, the bigger audience they’re exposing to unlicensed casino play. Everyone but the UKGC seemingly understand this.’
Member ‘TimArmstrong’ adds:
‘No autoplay. Constant reminder emails about responsible gaming. Constant ingame pop-up reminders about gameplay. No bonus buys. Paperwork around verification – of course after depositing. Let’s say someone has millions in savings yet same way treated as everyone. Rtp decreases causing players to lose more. It’s already a big joke and the only thing this will cause is everyone in the UK looking for alternatives and if a half-decent one comes around they will grab it. And what has the ukgc accomplished then? Everyone not/semi-protected for anything, just to get the fun back. Things need to be changed badly.’
What’s perceived as heavy-handed regulation is causing some to question whether it might be worth exploring unregulated casinos instead – and how they can go about doing so.
Players on the other side of the debate aren’t convinced that patronising crypto and/or non-regulated casinos is the answer. Deal breakers include no recourse if anything goes wrong, concerns over KYC protocols or lack thereof, the problem of actually using crypto, lack of gambling controls, and less chance of instigating card chargebacks. There are also reports of crypto exchanges closing accounts linked to gambling, or in extreme cases, exchanges like Mt. Gox, which declared bankruptcy in 2014 after millions of dollars of crypto was lost from its hot wallet. The bottom line appears to be, if things go wrong at an unregulated casino, what are you going to do?
Despite the pitfalls, an increasing number of frustrated UK gamblers are lighting up online message boards, sharing the ups and downs of using crypto casinos, and offering tips on how to do so. More and more players express positive experiences playing at unregulated crypto casinos, claiming to have had far fewer problems than with UKGC licenced casinos, meaning higher RTP, quick payouts, more entertainment, and less hassle.
Whilst UKGC regulations might have been put in place to effect a positive outcome, are the repercussions more harmful than the issues they were looking to solve? It would be hard, if not impossible, to track the number of players switching from regulated casinos to non-regulated crypto casinos where they can gamble the way they want to. However, it’s not hard to see why some players are choosing to do so, as many are reaching limits over the way regulation is unfolding.
