Gambling with bitcoin is a far more anonymous and discreet than playing at regular online casinos. Many consider this to be a great advantage.
Lack of Anonymity with Regular Online Casinos
With regular online casinos and betting facilities, your transactions usually show up on your credit card statement with little or no discretion. Often the name of the online casino is displayed directly. This can be a source of embarrassment when statements are read by a partner, spouse, housemate or family member, particularly for those who enjoy a gamble and play within their means.
Furthermore, regular online casino gather large amounts of personal data, including copies of passports, bank statements and so on, which virtually eliminates the degree of anonymity that many players desire. Aside from compliance, they also verify their players to protect themselves against false chargeback claims, but it does not change the fact that they retain intimate details about their players.
Finally, we now live in a world of “Big Data.” Banks do not merely process transactions and print statements. These days, they create profiles of every client. Given that credit card transactions with regular online casinos are categorised by financial institutions as “e-gaming” transactions, it is possible for banks to effectively tag you as a ‘gambler.’ Admittedly, it is hard to confirm whether all banks actively do so or whether it could impact on your ability to secure a loan or financing in the future. But it is certainly a risk as profiling and Big Data expands in the coming years.
BitCasino Provides Gambling Anonymity
When gambling with bitcoins, transactions to your favourite bitcoin exchange will appear on your bank statement as regular, boring BPay transactions to a company that does not have a gambling-related name and will not arouse suspicion or prompt questions from partners, housemates and family members who (accidentally or deliberately) look through your bank statement.
When you convert cash into bitcoins and deposit to play and bitcasino, that transaction is not recorded on any bank or credit card statement. If you win, your withdrawals back to your bitcoin exchange account from bitcasino are also not recorded in any way by your banks or other outsiders.
In this sense, the bitcoin exchange effectively acts as a barrier between your bank and bitcasino, providing true gambling anonymity.
You should be at liberty to gamble for entertainment and fun without giving your bank the ability to categorise and unfairly pigeon-hole your financial profile down the track. Using bitcoins to gamble at bitcasino is the best way to assure yourself of the discretion and privacy you expect and deserve.