It is currently not possible to use cryptocurrency for gambling on legal sports betting websites within a strict legal framework and in compliance with the rules for random online games. Some international betting companies without a French license operate in France so they can invest through cryptocurrencies. Is it really worth the risk?
Official Online Betting Website Reject Cryptocurrency Transactions
The reason for this negative reaction is simple. France is currently regulated by a body called the National Gaming Authority. Only 14 operators were qualified to be bookmakers. None of them offer payment or withdrawal methods for cryptocurrencies as they do not allow this.
However, you can use e-wallets like Skrill or PayPal to make deposits and withdrawals. Although the French are interested in sports, the global sports betting market is still in decline compared to the UK or Germany. The avant-garde payment method does not yet meet the taste of the French authorities.
The main explanation is the lack of security and protection for weather using these options. Therefore, the cryptocurrency must prove the legality of its access to the ANJ sports betting website.
Betting with Cryptocurrency at Your Own Risk
There are unapproved betting websites that offer a wider variety of options for making transactions. In fact, these bookmakers usually use cryptocurrency. The lack of supervision is reflected in registration offers and payment methods.
The bookmaker will not be forced to adhere to any rules or restrictions designed to protect the health of bettors and the safety of their banks. In most cases, you should avoid placing bets on the site without authorization as you will not have the right to claim money in the event of a dispute.
In addition, few companies in the industry have shown complete transparency. Examples of victims suffering from an overload of funds and unable to withdraw money increase without arousing emotions.
The most widely used cryptocurrency
Although regulated platforms have to comply with severe restrictions, other betting websites still allow the use of cryptocurrencies. Most of them are usually located in Malta or Curacao and accept the following tokens:
- Bitcoin and Bitcoin Cash
- Ethereum and Ethereum Classic
The list clearly consists of the major cryptocurrencies on the market. Bitcoin, Litecoin, and Ethereum make up the vast majority of transactions. Their shame and maturity are the main reasons for their ubiquity with these bookmakers.