Crypto Responsible Gambling

Since cryptocurrencies are a relatively new phenomenon, many of you reading this might not have fully considered the advantages and disadvantages of using digital currencies to play your favorite online casino games.

At Housebets, we understand the significance of responsible gambling and appreciate that players need to be made aware of responsible crypto gambling. 

The integration of cryptocurrencies into the gambling world offers numerous benefits, yet it also presents significant challenges for players. Thanks to the privacy and convenience that cryptocurrency provides to users, crypto is now the preferred currency for many. Despite these advantages, using crypto as a payment method can lead to complexities in ensuring responsible gambling practices.

Cryptocurrencies utilize blockchain technology; as a consequence, they are virtually immune to cyberattacks. This is because all transactions are encrypted, and it is nearly impossible to access information by breaking the encryption. The level of security provided by cryptocurrencies is unmatched by other payment methods. This means that when you deposit at Housebets, you don’t have to be concerned about your information or financial data being leaked, which should come as a huge relief. 

Below, though, we have outlined what we have in place to ensure that our players gamble responsibly with crypto, along with some things you should also consider.

What Does Housebets Do to Ensure Responsible Gambling?

We are not just all talk at Housebets; we put the effort in to ensure our beliefs in responsible gambling have actual consequences. Below, we have listed measures we have in place to ensure bettors are safe with us.

• Provide Responsible Gambling Tools: At Housebets, we provide a range of responsible gambling tools and guidance on our website. These tools include options for self-exclusion, setting time and deposit limits, and direct links to resources that can offer assistance to players facing gambling addiction. Regardless of what currency you use to bet, if you are no longer having fun gambling, it is time to stop!
• Raise Awareness: We have dedicated a specific page on our platform to emphasize the significance of responsible gambling. This page discusses the importance of responsible gambling and provides detailed explanations regarding the potential risks of problem gambling. Additionally, we ensure that the contact information of relevant individuals and organizations that can provide assistance to problem gamblers is readily accessible.
• Implement KYC Practices: At Housebets, we adhere to the highest Know Your Customer (KYC) and Anti-Money Laundering (AML) procedure standards. These practices are fundamental to ensuring responsible gambling by enhancing the overall security of our gambling platform. By verifying the identities of our players through comprehensive KYC protocols, we can identify and provide support to individuals who may exhibit signs of problem gambling, thus fostering a safe and secure gaming environment for all.
• Proactive Customer Support: Our dedicated customer support team is ready to assist any players who may be experiencing concerns with their gambling habits. We offer a supportive and non-judgmental environment where players can seek guidance, ask questions, and receive the necessary assistance to promote responsible gambling practices.

What You Should Consider When Betting With Crypto?

Despite the benefits mentioned, it can be difficult to implement responsible gambling practices in the crypto era. The most challenging reasons are mentioned below:

Anonymity: Cryptocurrencies provide a high level of anonymity, which can be a good thing because your identity remains protected. That said, it can also be a challenge to identify players with gambling addiction issues. 

Lack of Regulation: Cryptocurrencies are decentralized because there is no central authority governing them, and all transactions are verified by a network of computers. Even though they are legal, there is a lack of regulation. Therefore, predicting the future outcome of cryptocurrencies is not easy, even if some people out there might lead you to believe it is.

Volatility: Another drawback of cryptocurrencies is that they are extremely volatile. They can provide significant wins and substantial losses in a short time, which can be dangerous for players struggling with problem gambling. Therefore, if you are going to bet with any cryptocurrency, gaining knowledge of the crypto markets is a good idea to avoid any peril. It's also wise to regularly track the value of your crypto before placing bets, especially during periods of high market fluctuation.