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Why is NetEnt not friendly with Bitcoin? All the important information you need to know

Why is NetEnt not friendly with BitcoinOnline gambling no matter if working on traditional money or digital money deals, has been material for heated discussions on all “arenas”:

  • Software developing companies
  • Casino operators
  • Players
  • Regulation institutions.

If you insert in the debate the troublesome complexity of crypto transactions, then the BitCoin casinos business turns into even more questionable metamorphose.

Casinos processing transactions with conventional currencies have their outlined principles, supervision, and governing. Traditional money traffic allows singling out and chasing a distinctive player, casino operator, affiliate, or another partner. In contrast with BitCoin casinos, where the transactions are solely digital, financial scrutiny by officials cannot be conducted and the whole verification process evolves into an unachievable task.

Nowadays, there are two directions in the integration approach:

  • Administer, organize and launch specifically designed for BitCoin casino; or
  • Adhere BitCoin as an accumulative payment method next to the traditional money.

The first solely BitCoin casino was constituted with integrated games by NetEnt, Microgaming Ezugi, Endorphina, Betsoft, etc.

Incorporating any cryptocurrency into the gambling site and employing specific software/applications is advantageous for casino operators for several reasons:

  • Implementing modern and advanced technology gives them the reputation of being supportive, fashionable and unorthodox - embracing the new developments;
  • The decentralized structure of BitCoin casinos gives the chance of gambling to players, which otherwise should’ve been prohibited, because of country-specific restrictions; 
  • BitCoin deposits are permanent/final/indelible, i.e. devoid of a possible chargeback by players.
  • BitCoin transactions are cheaper and have relieved monitoring, as they don’t require much lengthy account verification processes and constant work on managing and securing accounts.

Why is NetEnt Company not friendly with BitCoin?

One of the most advanced games developing company interflowing with the progressing crypto-trend - one might think that is just match made in heaven. Well, that is not the case.

The first attempts were made in 2015 with a full package of NetEnt slot machines. But since then some issues are coming on the surface muddying the waters.

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Reasons for the dispute between Netent and Bitcoin

  • Issue N: 1 - less verification - NetEnt cannot maintain its standpoint of high respect toward legitimacy. When it comes to BitCoin casinos the requirement of players’ details is just minimal (usually only limited to current email, log in at the casino, and the number of e-wallets). There is no validation of age, location, or additional personal data.

  • Issue N: 2 - less legality - Possible bypassing the financial, government, and tax authorities - NetEnt cannot maintain its standpoint of high respect toward anti-fraudulent and anti-crime transparency policy. While the player is obscured behind the digital currency, the legitimacy of the casinos' operations becomes quite doubtable.

  • Issue N: 3 - fewer commissions and financial accountability - NetEnt cannot maintain its standpoint of high respect toward a regulated relationship with outside casino operation partners (banks, dealers).

While the BitCoin transactions are (almost fully) free from fees or other commissions, that dealers or banks require, players cannot make bets straight in BitCoin. The game software has to convert the BitCoin (via inner exchange) to some adopted usual value ($ or €), or to involve yet newer third-party co-partner- as Cubits for example. 

From Cubits (an online money operational service company for people and businesses using cryptocurrency) you can buy BitCoin using VISA, MasterCard, OKpay, or Bank transfer. Then you can transfer your Bitcoins from your Cubits e-wallet/account to any other e-wallet/account for all kinds of purposes including gambling.
Unfortunately, Cubits officially announced that the company went bankrupt following the criminal act of fraud and hacking of their systems in February 2018. (Imagine that!)

Here comes the annoying niggle- the high commission! It is quite costly to transfer Bitcoins into CAD, Euros or USD for example. So, dealing with Bitcoins isn't so convenient after all! 

In practice, because of the huge fees imposed, betting with BitCoin is not profitable for the casinos and even less profitable for the players.

(Wait. What? Didn’t we just save ourselves from paying fees to the traditional banks and made the account processes shorter and easier? 

Or we just exchanged one financial system with another, and with operation just a couple of minutes shorter and a few document pages thinners?)

Ultimately there are some advantages for the players:

  • With BitCoin it is quick and easy to start to gamble - no more long verification process;
  • With BitCoin you can gamble even at places, which are forbidden for your jurisdiction;
  • With BitCoin your gambling business stays your business - your transactions are hidden;
  • With BitCoin, you can still skip some tax obligations (enjoy it now, as long as it is unregulated)!

Famous platforms working with BitCoin

The platform provider Coingaming Group (CoinGaming.io - established in 2014), became the first company, providing a ready white label casino (with all the customized games, payment infrastructure, etc.)where NetEnt games are supported as well. It is an important step for the whole gambling industry with games from different developers. Unfortunately, now there are only a few notable establishments on this platform (Bitcasino.io, Sportsbet.io, and the Pay N Play online casino Slots.io).


The Softswiss company became a leader in the operation of BitCoin with its famous casino Playamo. On Playamo platform BitCoin is accepted (deposits and withdrawals) along with traditional currencies. In other words, this is a multi-currency, multi-brand website, with no distinct orientation, taking a universal approach assembled by different aggregations.

What can you do with BitCoin?

If you have free bitcoins and you desire to gamble with them in a casino, the best way is to convert them into traditional tradable currency (preferably Euro € or USA $). 

That can be done in various ways. The most unfavourable exchange value course is converting your assets to auto services. 

You would do better if you decide to buy virtual currency, using the services of the following specialized investment/purchase/sale/exchange/and store cryptocurrency platforms:

  • Coinbase
  • Circle
  • Kraken
  • Bitstamp
  • BitFlyer
  • Binance

What can you do with BitCoin

We can also recommend a fantastic service named LocalBitcoins, where you can safely buy BitCoins from other users. The service acts as a mediator and takes about 1% of each exchange. Another option is sharing your currency directly in agreement, but we suggest using it only with users that have a perfect reputation (check the forums beforehand).

When you would be able to play with BitCoin?

CoinbaseNetEnt is not in a rush to add Bitcoin on the same line and conformably with the Euro or with the Dollar. It is lacking motivation, palpable advantages, and untroubled business prospects. The software giant is realizing that the cryptocurrency demand among the gamblers is not particularly high. Players usually don't want to bother about buying anything on the third-party services, when they can do that via well-known methods.

While it is always thrilling to be steered by easy money making options, players should keep in mind the legal aspects, challenges, and risk areas. The main difficulty lies in the technical knowledge and smooth digital engineering work required to facilitate services with Bitcoins.

The crypto industry is gaining momentum in the casino business, but besides the fundamental benefits of cryptocurrency in correlation to the gambling sector, there are disadvantages, that cannot be overlooked.

Most of these disadvantages will disappear in the coming years with future re-fining developments and growth of blockchain technology. Possibly more BitCoin casinos will open, and will be no surprise if we see a separate licensing body for crypto gambling and casino projects! Maybe then in NetEnt slots, you can bet with BitCoins. Not earlier.

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Where to play?

  • Do not hesitate and choose Fastpay casino as your favourite to play with Bitcoin. They have over 5300 games as well as a very pleasant VIP bonus program for loyal players. Moreover, your winnings will be sent within a few minutes (1-5).

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