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Bitcoin in the Philippines Casinos
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Being a country where digital currencies are legal and regulated, the Philippines has opened the doors to a whole new world for its citizens. Thanks to the laws implemented and the proper monitoring, the citizens of the Philippines can use crypto assets whenever they want to, as long as they are abiding by the set rules. When it comes to online gambling, while they cannot visit local sites, players from the country are allowed to frequent offshore-based casinos. So, if you’re willing to know more about the crypto gambling situation in your country, join us as we explore all the information you need! Why use Bitcoin across casinos that accept players from the Philippines?
Cryptocurrency Regulation in the Philippines
Transactions with digital currencies are completely legal in the Philippines. In fact, even five banks offer them! The Securities and Exchange Commission (SEC) is the one in charge of regulating investments, securities, and other financial instruments in the country, digital currencies included, and the one that monitors all crypto activities. The Bangko Sentral ng Pilipinas (BSP) regulates transactions made with crypto, via the Implementing Rules and Regulations of Republic Act No.11765, and five banks, Security Bank, UnionBank, Maya, RCBC, GCash, and UnoDigital Bank are considered crypto-friendly banks that process crypto transactions.
The state-owned corporation PAGCOR controls all online gambling activities, and players can only legally join sites operated by it. PAGCOR puts a lot of effort against illegal betting in the country, so other operators in the country cannot obtain a license and it is illegal for them to offer online gambling, but players are not fined for joining offshore operators. That being said, you are free to join any international online casino that caters to players from the Philippines.
On that note, you are also given the green light to play using Bitcoin across those sites. You must remember to find a site that holds a license from at least one well-reputed regulatory body, like the MGA or UKGC, to enjoy a safe gambling environment. As long as you find such a site that targets players from the Philippines and offers BTC, stick to it; immediately create an account with it to enjoy a smooth crypto gambling time.
Using Bitcoin Across Online Casinos
Having in mind what you’ve just read, it is probably clear to you by now that you are free to use BTC across international online casinos that cater to players from your country. Now, to do that, you first need to have some BTCs in your possession.
One of the ways to get started with Bitcoin is to mine for it – be aware that this is an exhausting and power-consuming process that involves a big investment that could or could not pay off. But another way to obtain some coins is by simply purchasing them with fiat currency. That’s right, you can use the Philippines peso to purchase your BTCs, at a proper crypto exchange platform. You can buy, sell, and even trade BTC across exchanges like Currency.com, KuCoin, and Binance, for instance, so make sure you explore their offering and go with the one that you like the most.
After you create an account with the exchange and purchase the amount you wish using fiat currency, you will be able to start using your coins right away, or transfer them to a Bitcoin wallet. The second option would be wiser, since once you create an account with a crypto wallet and get the keys (addresses made of letters and digits), and you transfer your coins there, your BTCs will be better protected from hackers and scams. Coins.Ph, MetaMask, Bitbit.cash, and Bitlox are quite popular among Filipinos, so explore them and decide on the one to go with.
Regardless of whether you transfer the coins to a crypto wallet or keep them on the exchange profile, you’ll be equipped to start depositing with your BTCs. So, the next step would be choosing a properly licensed online casino to join which accepts Filipino players. Hundreds of such sites exist, so explore a few options and find the one that offers the games you wish to play and decent Terms and Conditions. As soon as you do, you are ready to make your first deposit with BTC, which will go like this:
- Go to your chosen casino’s Deposits/Banking page and select Bitcoin.
- In the new window, you’ll see the casino’s key displayed; make sure you copy it.
- Then, enter your BTC wallet, specify how much you wish to deposit, and paste the casino's key.
- Check the request thoroughly and if all is in order, confirm it; instantly, the coins will appear on your online casino balance.
Cryptocurrencies are players’ favorites when it comes to solutions to use for withdrawals. Bitcoin is, therefore, one of the most popular withdrawal methods in the Philippines. The withdrawing procedure is pretty much the same, with one major difference: this time, you copy and paste your wallet key to the designated field upon withdrawal request and you wait for the casino to approve it. Once it does, your coins will immediately reach your crypto wallet.
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Top 3 Methods Offering Bitcoin at Online Casinos
Getting started with BTC is pretty simple, as you can see, as long as you create accounts with the proper exchange, crypto, and online casino platform. But, what would you do if we told you that there's an alternative way, one that does not include creating any extra accounts? You'd be thrilled, right? Well, as long as you have an account with one of the methods we'll talk about next, you can start using BTC for deposits and withdrawals across many online casinos right away. That’s right, these methods act as direct crypto-to-fiat conversion sites, since they’ve integrated with a popular exchange platform. And with that, they offer users the opportunity to exchange their PHP for BTC on the spot! If interested in knowing some, the following are the top 3 methods offering Bitcoin across Filipino online casinos:
- STICPAY – STICPAY is an eWallet with global availability, particularly popular in the Philippines for its local payout service, which is restricted to several countries only. This service allows Filipinos to send and receive money in their local currency, the PHP, within minutes. But, thanks to the fact that it also offers users to convert their PHP to BTC right there on its platform, STICPAY is one of the players' favorite payment methods for deposits and withdrawals; make sure you give it a go!
- MoneyGram – MoneyGram is an international money transfer service which not only provides users with the smoothest and most cost-efficient fiat to fiat transfers of money but also gives them the opportunity to send and receive transactions in Bitcoin. This crypto conversion is possible in-app, so you do need to have its app installed on your smartphone to use it, but nevertheless, with just a few taps on your mobile device, you'll be able to enjoy BTC transactions to and from your online casino balance!
- Google Pay – Google Pay is an eWallet offered to Android users only, across the globe. Launched by the giant tech company, it is a solution that continues innovating and evolving, and that’s why as of 2021, it also allows users to transact using cryptocurrencies. It integrated with one of the world’s leading crypto exchanges, Coinbase, to allow users to convert their fiat to digital currencies in a split second. So, all you need to do is find the wallet already installed on your Android device, activate it and in no time, you’ll be able to convert your Philippines pesos into BTCs, and use them across hundreds of international online casinos accepting players from your country!
Conclusion
You have virtually no obstacles and no limits when it comes to Bitcoin gambling as a player from the Philippines. As long as you join an international casino that caters to players from your country and offers BTC, you are in for a real treat. You can place as many bets and cash out as many coins as you win whenever you want to and have the speediest transactions ever. So, with no further ado, if not more, at least give it a try, and you'll love your experience, that's for sure.
FAQs
Is online gambling a legal activity in the Philippines?
Online gambling regulations in the Philippines are unusual, so what you should know is that you are free to place bets across international online casinos that accept players from your country.
Is Bitcoin a legal tender in the Philippines?
While the use of cryptocurrencies is legal in the Philippines, meaning transactions with Bitcoin are legal, the crypto is not considered a legal tender.
Can I join an online casino to play using BTC as a Filipino player?
Sure thing. You can join any international online casino that caters to players from your country and offers Bitcoin. There are plenty of such sites to explore, so roll up your sleeves and get to business.
What is the regulatory body that oversees gambling activities in the Philippines?
Philippine Amusement and Gaming Corporation or PAGCOR is the regulatory body in charge of monitoring gambling and issuing licenses.
How old should I be to gamble online as a player from the Philippines?
The legal gambling age in the Philippines is 21 or older. However, even though you’ll come across international sites that accept players from your country where the age limit is 18 or older, usually European-based sites, you’d still need to respect your own country’s legal gambling age, for a safer gambling experience.