NetBet Casino Adds Bitcoin Payment Option

NetBet Casino became the very first UK-Licensed online betting operator to add Bitcoin as one of its payment options available to punters residing in the UK.

It was announced by the payment service provider Bitpay on Monday that NetBet Casino is now the first gambling operator online, licensed by the United Kingdom Gambling Commission to offer Bitcoin as a payment method for both withdrawals as well as account funding to both online casino and sports betting customers.

Bitpay, who is currently seen as one of the largest Bitcoin payment processors globally, reported that NetBet opted in to become a Bitcoin casino in order to better serve the ever-growing digital UK currency user based and to provide players with peace of mind when it comes down to online fraud. This is a huge step seeing that the Bitcoin novelty is still relatively new in the UK gambling marketplace and Bitpay have agreed to work closely with the new Netbet Casino to guarantee that the all UKGC requirements are met by the new payment option.

License Conditions and Codes of Practise

The (LCCP) License Conditions and Codes of Practice were updated in August and licensees were reminded to ensure that all appropriate procedures and policies were implemented concerning the usage of cash equivalents and cash, which also included at the time the first reference by the UKGC to digital currencies. The suggestion was later downplayed by the UKGC indicating only that it wanted to remind licensees of the need to ensure that it takes its social responsibility and anti-money laundering obligations serious regardless of accepted currencies.

More online gambling news regarding payment methods includes the new addition of Apple Pay by UKGC licensee Sky Betting and Gaming, Apple Pay is now part of the approved methods for depositing. According to eGaming Review, the Apple Pay payment options had also been added to Sky Bet, Bingo and Vegas Casino apps earlier. The new payment options called Apple Pay is available to all Sky Bet mobile players who use an iPhone 6, iPad pro, Apple Watch or iPad Air 2. Funding your account with the Apple Pay offer immediately released depositing and players need to allow 3 up to 5 days for withdrawals which are currently only accepted via Visa cards.