Bitcoin is currently one of the most widespread payment systems used in online Casinos. Many players prefer this payment option, as it’s secure, anonymous, and available worldwide. Crypto deposits are quick, which allows users to access a vast selection of games and slots instantly.
On the other hand, such ease of use and accessibility can lead to unpleasant consequences. Problem Gambling is one of the common diseases affecting mental state and overall person’s well-being. And while Bitcoin is a convenient and reliable payment method, it can sometimes exacerbate disease development due to its accessibility.
The Rise of Bitcoin Gambling
Bitcoin is a transparent and reliable payment system, so it’s not surprising players often use it in online casinos. Moreover, Bitcoin is widely accepted, so some risk fans find ways to get around the ban even if gambling is prohibited. The main benefits of this cryptocurrency on gambling platforms include the following
- Guaranteed safety & anonymity
- No intermediaries during transactions
- Available in numerous online casinos
- Fewer limitations for deposits & payouts
- No or low additional transaction fees
All these advantages often motivate players to choose Bitcoin as their preferred banking system. More and more users engage in gambling, which leads to higher addiction levels. Accessibility of Bitcoin online casinos increases the risk of disease. Therefore, operators, responsible authorities, and players face the need to cope with the problem.
Understanding Problem Gambling
This disease is quickly progressing: according to statistics, up to 5.8% of the world population can suffer from it. Overall, problem gambling is a mental disorder during which a person cannot control themselves when playing risky games like slots or poker. They experience the feeling they are about to win and continue depositing even despite all the losses. Such a condition can be compared with drug abuse or heavy drinking and requires immediate treatment. The primary symptoms of problem gambling include the following:
- A player invests more than they can afford
- Signs of anxiety & depression when gambling
- The inability to stop playing slots & games
- Troubles in relationships & Workplace
Gambling addiction is a severe disorder requiring immediate treatment. Recognizing its first signs is essential, as the sooner a person recognizes a problem, the more effective the solution will be.
Specific Challenges Connected with Bitcoin Usage in Casinos
Bitcoin allows transparent and anonymous transactions, which makes real-money gambling more accessible to millions of people. It’s impossible to track payments, so players can access online casinos even when risky entertainment is banned. Appropriate gambling regulations, awareness about the consequences, and implementation of special programs restricting access to gaming platforms are the key points that should be addressed.
The Role of GameStop & Other Tools
GamStop is a self-exclusion program operating under the control of the UK Gambling Commission. UKGC obliges all online casinos to support this tool: it informs players about the possible consequences and blocks access to thousands of gaming sites. However, UK players still have access to those casino sites that aren’t blocked by GamStop and do not cooperate with local schemes. Obviously, it is a gap, but it allows players to have fun if they decide to continue gambling. Nevertheless, GamStop has already shown its efficiency, as over 80% of users reported improved conditions and reduced cravings for gambling.
How Does GamStop Work?
This program aims to reduce the harmful effect of gambling activities, and a total ban on online casinos is the best solution. Therefore, GameStop allows self-exclusion for a particular period from six months to five years. During this time, a problem gambler cannot access any risky website regulated by the UKGC. It’s impossible to change your mind and stop participation in the program. In line with those using fiat currencies, Bitcoin players can use GameStop to their advantage in case they notice the first problem gambling signs.
You might ask what to do if an online casino doesn’t operate under the UKGC licensing and doesn’t implement GamStop. In such an instance with these casino operators outside of GamStop, many similar tools are accessible. Consider options like My PlayBreak and BetBlocker. These are the really working tools!
Other Methods of Dealing with Bitcoin Gambling Program
Of course, joining the self-exclusion program is not the only way to cope with possible addiction. Self-control is one of the best ways to avoid any potential problems. Setting the budget limits in advance and sticking to them when gambling is the first thing you should learn.
Coping with challenges on their own is sometimes hard for players. In such an instance, joining self-exclusion programs like GameStop is better. However, therapy with a professional psychologist or other specialist can also help. Problem players can find multiple support groups, showing they are not alone and get high-quality treatment together with like-minded individuals.
The Final World
Gambling has become more accessible than ever, and the possibility of using Bitcoin as a payment method boosted its popularity even more. But as accessibility increases, so do risks. Gambling addiction is a severe disorder affecting a significant percentage of players worldwide. Therefore, coping with the problem should be on the agenda for both operators and risk fans. Implementing appropriate mechanisms like GamStop and its alternatives is one of the best solutions players and online casinos must consider.
