Over the last few years, the UK Gambling Commission (UKGC) has set very strict regulations for gambling operators. This often leads UK casinos & sportsbooks to offer substandard products of lesser value, and players commonly have to face an unending cascade of KYC & AML requests. This is where UK crypto gambling sites come into play.
Offshore-based and not bound by the tight grip of the UKGC, these websites allow for maximum privacy & flexibility. Two qualities now long gone from the local online gambling scene. Stay on our article to see which are the top crypto-friendly brands available for UK residents, how to find the best one for you, and what are the fiscal implications of crypto gambling.
British residents will have a harder time finding an ideal casino or bookie that supports cryptocurrencies. Numerous foreign brands mention in their t&c’s that players from the UK can not join them due to regulatory issues. However, our team has done the appropriate research. In the following list, you will be able to find the top crypto gambling bonuses for UK players. Check our recommendations to enjoy a rapid registration process with just an email, instant crypto deposits & withdrawals, anonymity and valuable bonuses.
What to keep in mind for Crypto Gambling in the UK
Many say that the Gambling Commission, which is the regulatory body for all gambling-related activities in the United Kingdom, outright excludes crypto payment methods as they are considered an unsafe banking option. However, that is not the case. The issue lies mainly in Anti-Money-Laundering (AML) regulations.
Due to the innate characteristics of blockchain technology, upon which cryptos are built, it is very difficult for operators to present a solid license application that adheres to the strict protocols of the Commission. For example, it is often hard to prove their Source of Funds (SoF) and the integrity of their banking processes, as these rely on multiple third parties. In general, the crypto space is still in its infancy and so rapidly evolving that many companies struggle to receive regulatory clarity, even if they have all the good intentions in the world. As such, the crypto regulation in online gambling is mostly unclear.
Anonymous wallets, volatile market prices & fees, coins that can not be tracked, and irreversible transactions are all concepts that do not sit well with the UKGC since it is the sternest gambling regulatory authority worldwide. Unlike other bodies, such as the MGA or Curacao, its inflexible approach does not leave any room for UK-licensed crypto gambling sites. Nevertheless, cryptocurrencies do not care much about national laws. After all, this is one of the reasons Bitcoin was created for. Even if you live in the UK, you will be able to join crypto-friendly brands.
Trending Brands in UK
No of Cryptogambling Sites
Anonymous gambling sites
Provably fair casinos
Instant Withdrawal Sites
Stablecoin gambling sites
In short, crypto gambling sites will give you back a sense of freedom. You will not be closely monitored, and your bank will have no control over your gambling transactions. However, at the same time, this means that you will not enjoy the protection of organizations such as IBAS. If things go south and a dispute arises, consider yourself alone. Offshore regulatory bodies will hardly ever go out of their way to assist you.
Moreover, if you are a problem gambler, there will be few ways to protect yourself. Most websites have little to no responsible gambling features, and there are no initiatives like Gamstop & Gamcare. If you feel vulnerable, we highly recommend you not to start an account at such websites, as it might lead to major issues.
But, if you are just a normal recreational player and you just want to find a way out of the UK’s austere gambling environment, feel free to take a look at our recommended casinos & bookmakers.
UK crypto gambling facts
Most crypto gambling sites in the UK hold an offshore license, like Curacao or Costa Rica
Offshore regulatory bodies might be more flexible. Still, they are not the most reliable ones around. Research every brand beforehand and keep a low profile
Prefer crypto brands that offer in-game crypto wallets, as direct transfers are faster & more secure
If the website does not support crypto wallets, make sure to check the exchange rate before any transaction. Avoid anything with a fee spread above 1%
Before depositing, read the terms & conditions attentively. See if players from the UK are eligible to start an account. If it is not clear, contact customer support
Direct on-chain transactions allow for better anonymity and lower fees compared to third-party aggregators. Always ensure they are supported by the gambling site of your choice.
Which is the best crypto casino in the UK
Most gamblers like having an abundance of alternative options at their disposal. And this is exactly what crypto casinos in the UK can provide you. Countless slots from all the major studios, bonus buys, no cooldown spins with high maximum limits and fast registration with not a single documentation request. What’s more, most brands will offer valuable crypto bonuses, so you get more bang for your buck.
It would be better not to jump in blindly to the first UK crypto casino you find. Read our reviews to find out all of their ins & outs, and consider the following characteristics.
Bonus Terms & Conditions
This applies to both the welcome Bonus and any other possible promotions. Always review the generic bonus terms, as well as any offer-specific t&c’s. That should give you a pretty good idea of the value of the bonus. Focus on wagering requirements, maximum winnings, eligible games, and available days for the rollover. Avoid any brands that do not clearly state such terms, as it is a major red flag. Most importantly, do not compromise your preferable gameplay for the sake of a promotion. Only opt for ones that will enhance your session.
Provably Fair Games
If you want to play it safe and feel secure while wagering, then crypto games are the ideal option. These games let you verify the results of any round, harnessing blockchain-powered tools. We consider them the best way to first try out a new crypto casino. Apart from the reliability aspect, most websites develop their own in-house crypto games, which are a nice change of pace from the usual ones.
Live Tables & Game Shows
Nowadays, many crypto casinos in the UK have partnered up with live gaming giants, such as Evolution and Pragmatic Play, among others. This means that you will be able to play all their top titles like Monopoly Live, Dream Catcher and Deal or no Deal with cryptocurrencies. The experience will be just the same, but the transactions will be much better.
What are the top UK crypto sportsbooks
Crypto sports betting could not be missing from the United Kingdom. After all, it was here that the modern art of bookmaking was mainly developed. And now, with cryptocurrencies, British punters can place all their online stakes as directly and anonymous as the old cash hand-to-hand bets. Moreover, crypto bookies in the UK commonly offer higher odds and better bonuses compared to conventional regulated bookmakers.
UK bettors are used to Free-Bet welcome bonuses and promotions. And we tend to agree with this approach, as Free Bets can be much more profitable than regular match-up bonuses if utilised correctly. However, most crypto sportsbooks in the UK will not have them as regular bonuses, so you will need to dig in deeper and see if the available ones suit your betting style.
Odds type & Features
The wide majority, if not all crypto bookmakers, will offer fractional odds. In any case, the decimal type will be preset, but you will be easily able to change it. However, do not expect to find often advanced betting features. Usually, only Full Cash Out will be available. Keep in mind that most crypto-friendly websites are casino-focused.
The most popular football matches (Premier League included) will enjoy wide coverage in the several available crypto sportsbooks. You will easily find over 200 sports markets for any major match. However, other UK favourites such as horses, greyhounds and darts are often unavailable. So, if you like to start crypto betting in those disciplines, inspect the sportsbook attentively before any deposit.
Onwards to the second most important part of the process. After selecting a brand that satisfies your parameters, you will need to fund your account in order to start wagering. This means that you need to understand how to safely complete crypto transaction, as well as the ideal coin or token to use.
Which are the best coins for crypto gambling in the UK
This is quite a tricky topic due to the unstable nature of crypto markets and blockchain network fees. The ideal solution today might not be the same next month or even tomorrow. Nevertheless, there are some options that are consistently better than others.
First, you need to consider three factors. Reliability, speed and cost. Based on these and what you value more, you will be able to distinguish the optimal method for you. For example, nothing beats the good old Bitcoin network in the reliability aspect. Similarly, coins like LTC, BCH and ETH are also battle-hardened options that have withstood the test of time. But Litecoin and Bitcoin Cash additionally spot fast transaction speeds and low fees, while Ethereum holds more utility due to its huge DeFi ecosystem.
On the other hand, blockchain networks like Tron and Solana hold lightning-fast speeds with close to zero fees. However, the reliability of the organizations behind these projects has been questioned more than once, even if nobody has ever lost any funds whatsoever by using them. Other valid options include stablecoins (USDC, USDT), which hold a constant value, and privacy coins (ZEC, XMR), which allow for complete anonymity.
As you can see, there are many alternatives for you to choose from. To get a better grasp on the different coins & tokens, feel free to consult our extensive coin guides below.
How to deposit to Crypto Gambling Sites in the UK
Once you have found one or more sites you would like to try out, it is time to acquire a crypto bankroll (unless you already have one). You will have to use a centralized crypto exchange in order to buy cryptocurrency with Fiat funds. Then, transfer the amount to a private wallet, and finally, deposit it to a crypto gambling site. Let’s analyse the steps a bit further.
Start a crypto exchange account
Start a crypto exchange account
UK citizens have access to plenty of crypto exchanges. Ideally, we would recommend one of the major ones, such as Binance, Kraken and Coinbase, but there are many others that may suit you best. Research their available products, terms & conditions, registration process and fees and register to the one that is up to your standards.
Create a crypto wallet
Create a crypto wallet
If you want to safeguard your crypto gambling action in the UK, it is imperative to avoid any direct transaction between crypto exchanges and gambling sites. Due to grey regulatory areas, most crypto trading platforms mention in their t&c’s that they may close any account that deals with gambling sites. So, in order to protect themselves, they will not hesitate to ban your account and freeze any funds in it.
Thankfully, it is extremely easy to circumvent this restriction. There are countless safe private crypto wallets you can find online such as Exodus and Coinomi. Just make sure to confirm if they support the cryptocurrency you will be using. For example, you can not buy Bitcoin with a MetaMask wallet, as it only supports tokens on the Ethereum network.
For added security, do not hold any large crypto amounts in the wallet you use for frequent transactions. Ideally, store crypto funds that you are not going to use in a ‘cold’ wallet like Ledger or Trezor, as these have added safety measures compared to ‘hot’ wallets that you can install on your PC or mobile.
Complete the Deposit
Complete the Deposit
Let’s summarise. You have registered at a crypto exchange, bought a cryptocurrency amount and transferred it to a private wallet that you have installed on your device. Time for the last step. Sign up at a UK crypto gambling site, and head over to the cashier section. Click on the preferred crypto banking option.
An address will appear, which you will have to copy-paste to your wallet’s send function. Alternatively, most websites will also show an automated QR code, which you can scan with your mobile. Double-check if the addresses and networks are correct, and complete the process. That’s it, you are now all set for crypto gambling. But are you sure you picked the correct coin for this?
By all means, it is not illegal to use cryptocurrencies as a currency for gambling, or any other type of transaction. The fact is that currently, there are no crypto-friendly gambling sites that hold a UKGC license. You will have to resort to offshore ones. Of course, that does not mean that you will get a subpar experience. Many such brands offer equal, if not better, products compared to established websites. Just make sure you proceed to diligent research beforehand, starting with the respective reviews of our recommendations.
Nonetheless, you need to keep in mind that Her Majesty’s Revenue and Customs (HMRC) views cryptocurrencies as a capital asset, which means that it is possible that you are susceptible to a crypto tax in the UK. Let’s expand the topic a bit further.
Are my crypto transactions tracked
It is important to clear this out. First of all, you should know that all transactions made within a blockchain network are transparent and permanently embedded in the blockchain. If your crypto addresses get compromised, anyone can track all the details of your transactions. There are only a few notable exceptions to this, like Monero, where the blockchain is built in a way that obscures the addresses of the sender and receiver.
Moreover, in order to operate in the UK, all centralized crypto exchanges are required to share all of their relevant data with HMRC. Consider that all your acquisitions are compromised. The only way to avoid this is to rely exclusively on decentralized exchanges, but that will make the act of acquiring cryptos with Fiat funds quite challenging. It can always be done with offshore exchanges and coin mixers, but this is a topic for another article. What you need to remember is that HMRC knows the cryptos you have bought via centralized UK exchanges.
How is crypto gambling treated in other Commonwealth nations?
Following suit in the general legal confusion that exists on this topic worldwide, there is no common approach. In most countries, it’s a combination of online gambling laws and capital gains. However, the grey status of cryptocurrencies as an asset complicates the matter further.
For example, crypto gambling sites in India let locals access the best international iGaming brands legally. However, the situation around crypto assets does not look promising, as the new frameworks under discussion include heavy taxation.
Similarly to India, crypto casinos in Australia are not illegal, and many Aussies prefer them for their online gambling sessions. But fiscal laws around crypto assets are quite hostile and you may get taxed for converting any crypto to Australian dollars or other Fiat currencies.
Bitcoin casinos in Canada are a primary gateway to international brands now that the dust has not yet settled after the introduction of the Ontario local license. But even here, if you exchange cryptos for Fiat, it’s considered a taxable event. So regardless of where you live, the use of anonymous wallets is essential. And the conversion of crypto balance to Fiat in centralized exchanges must be a last resort.
How does the crypto tax in the UK work
Currently, UK players do not have to pay tax on any gambling winnings. However, what happens when you receive winnings in the form of crypto? The current UK crypto regulation mentions that every time you sell crypto for a Fiat currency like GBP, trade crypto for another coin/token or spend it on goods & services, you will have to pay capital gains tax.
However, the tax applies only to any gains made, meaning you sold or exchanged the crypto winnings for a profit. This is a bit tricky, as there is no standard way to determine the initial value of your winnings the moment you win them (in order to establish a cost basis). The optimal solution is to archive any single transaction you make, like receiving winnings from the gambling site, sending them to the exchange, etc.
Moreover, the capital gains tax rate depends on your current Income Band, which can be highly variable. So, in case you score a big win, we recommend contacting a tax consultant, as things can get messy easily. Better safe than sorry.
But there is a very important rule that applies to many players. The Capital Gains Tax Free Allowance mentions that if someone does not profit more than £12,300 in a fiscal year from capital gains, he does not get to pay any tax on it. This amount is more than enough for many crypto gamblers, meaning that they do not have to worry about any taxes at all. Just do not forget to report the amounts to your tax return.
*Keep in mind that this is meant to be a general overview of the current fiscal situation. As we are not financial advisors, contact a tax professional for your financial inquiries; errors may lead to significant losses & potential fines.
While the UK is one of the largest markets for the gambling industry, the UKGC’s continuous regulatory restrictions make many brands reconsider the worthiness of their UK license, as hefty fines are always around the corner. Additionally, due to new guidelines, the profit margins are as low as ever, making it prohibitive for any emerging brand to even think of applying for a licence.
The downsides do not limit themselves to the operators, as they trickle down to the players as well. Gameplay restrictions, bet limits, exhaustive KYC processes, SoW requests and lower RTP and odds are more common than ever. This is why cryptocurrencies and offshore brands present themselves as the only solution.
Crypto gambling sites available in the UK give back to the players the sense of a less restrictive environment, as operators have more freedom to introduce new products, features and bonuses. Furthermore, your gambling transactions will be far more discreet with cryptocurrencies, and banks will not lower your credit score just because you fancy gambling.
Of course, crypto gambling will not provide the safety net that the UKGC and IBAS offer, but if you just apply common knowledge and read our articles & reviews, you will easily avoid any unpleasant surprises and gain a significant edge for your gambling action.
Yes, you can purchase any service you wish with cryptocurrencies. However, there is no crypto gambling site that holds a UKGC license, so you will have to opt for offshore ones.
The UK has some of the most transparent regulations and guidelines on crypto assets compared to other countries. You can easily find online the official Cryptoassets Manual, published by HMRC, UK’s fiscal authority.
Yes, cryptocurrencies are subjected to both capital gains tax and income tax, depending on how you utilize them. However, there are many exemptions and subcategories, so you will have to look into the matter attentively. For example, capital gains up to £12,300 are not taxed.
Crypto-friendly gambling sites will allow you to try out a whole new range of brands, sports markets, and casino games. Registration and deposits are fast and anonymous. Withdrawals can also be completed almost instantly, making for enjoyable & hassle-free gambling sessions.
Cryptogambling.tv is the first site to fully empower crypto iGaming brands. Decentralized digital currencies are the answer to the restrictions that gamblers face worldwide. Your funds, your rules. At the same time, we accept no compromises, and promote only legitimate websites. Trust our expertise, become an avid crypto gambler and maximize your bankroll’s value.