Cryptocurrency is a revolution in the online gambling industry. Blockchain technology creates secure gaming platforms. It makes it difficult for hackers to steal personal information. Additionally, it offers anonymity, transparency, and fairness.
Not all crypto casinos are the same.
They are different in many ways, from the selection of games to available bonuses. Hence, consider various factors if you are searching for the best crypto casinos in Spain.
Read on and learn more about crypto casino sites in Spain. We’ll also look at the rules and regulations that govern their operations.
Crypto Casino Regulations in Spain
Gambling has been legal in Spain since 1977. But, the government decriminalized online gambling only in 2011 through the Spanish Gaming Act. The act aims to harmonise regulations at a regional and federal level. Three essential elements must be present in any gambling game to be under the act: chance, pay-to-play, and prize. If one is missing, it is outside the scope of the Gaming Act.
The Gaming Act states that online games available at the federal level need a national licence or authorisation. Meanwhile, any region-specific game would require a license.
At the federal level, the government approves the following casino games:
On the other hand, the regional-level licences may vary from region to region. The catalogue of games approved for most regions includes the following:
- French roulette
- American roulette
- Wheel of Fortune
More so, the Spanish Gaming Act covers betting. Sports betting, including horse racing, is regulated at the regional and federal levels.
Authorisations and licences from foreign countries are not valid in Spain. It does not mean they cannot operate in the country. Instead, they must apply for a federal or regional licence since the DGOJ does not recognise original foreign licences.
Spain does not have a legal framework that governs cryptocurrencies to date. Nonetheless, crypto is subject to taxation laws. The best thing to do is to choose only crypto sites with valid licences to ensure you play on a legitimate platform.
Who is Responsible for Regulating Online Gambling in Spain?
Spain has 17 administrative regions or autonomous communities. Regional gambling authorities are responsible for the issuance of licences in administrative areas. Meanwhile, the Dirección General de Ordenación del Juego (DGOJ), or General Directorate for Gambling Regulation, is the lead agency at the federal level.
Two types of licences are available for online casinos wishing to operate in Spain:
- General Licence: The licence is valid for ten years and extendable for another ten years. Applying for this licence requires meeting the requirements set by the DGOJ. These requirements include transparency, competition, advertising, non-discrimination, and objectivity.
- Special Licence: The minimum duration of this licence is one year, and a maximum of five years. Meanwhile, it is extendable for the same duration. In addition, revocation of the general licence means forfeiture of the special licence.
Any online casino operating in Spain must meet legal, economic, and technical requirements. Some of the most important provisions include the following:
- A public limited company from Spain or anywhere in the European Union Area
- A minimum share capital of €60,000
- Legal representatives must have a physical address when representing a company outside of Spain
Restrictions to Crypto Casino Sites in Spain
A licence issuance does not mean that crypto casinos in Spain can operate as they wish. They must meet specific requirements. Otherwise, they can face revocation of licence and hefty fines, depending on the extent of the violation.
Among others, one of the most important is restricting access to crypto sites based on age. Minors cannot play, as well as those that the law and judicial resolution declare as disabled. Those who voluntarily request to restrict gaming access should not also have access to crypto sites.
In addition, those directly involved in game development and their families cannot play. Plus, some members of the General Directorate for Gambling Regulation and their families cannot participate in gambling.
More so, Bitcoin casinos in Spain must identify winners of prizes above €2,500 to combat money laundering.
Benefits of Crypto Casino Sites in Spain
Cryptocurrency adoption in Spain is growing. The country’s largest telecom company accepts crypto as a payment mode. In addition, RCD Espanyol de Barcelona is the first professional La Liga soccer team to accept crypto payments. Unsurprisingly, the country is also seeing a rise in crypto casinos.
The proliferation of crypto sites offering gambling activities in Spain can be attributed to several reasons, including the following:
Online casinos operating in blockchain networks cut the need for user accounts. In turn, you can protect your privacy by making sensitive data confidential. Unlike traditional payment methods like credit and debit cards, crypto transactions are anonymous. Although KYC or Know Your Customer might be necessary depending on the individual policies of the casino.
One of the most significant benefits of crypto is its decentralisation. When gambling with traditional or fiat currency, your money routes through a central authority. Examples of such include a bank or government.
On the other hand, crypto payments offer decentralisation. As such, it does not involve any third party. Instead, payments are direct to the other person or party. In addition, bypassing the middleman is one of the reasons why transaction costs are cheap.
Crypto sites in Spain are excellent if you want a safe and secure gambling platform. They are transparent because they operate on the blockchain. In turn, the blockchain works as an open-source ledger that no central authority or government can control. It can make players confident that their funds are secure.
While this may depend on a specific casino, many crypto sites will offer affordable transaction costs. As mentioned earlier, one reason for this is that there is no intermediary. Instead, transactions happen directly between two parties.
Unlike credit card payments or bank transfers, the fees are often minimal. As a result, you can keep more of your winnings instead of paying exorbitant fees.
Another reason why many people love playing on crypto sites is their speed. Transactions happen in almost real-time. You can send and receive funds in an instant, whether it is a local or international transfer. Additionally, no agency or third party will process the transactions, contributing to its speed.
Things to Consider When Choosing The Best Crypto Casinos in Spain
You will have several options when it comes to crypto casinos in Spain. Nonetheless, it does not mean they all offer the same gaming experience. As you decide what platform to choose, below are some important considerations:
Crypto casinos operate on the blockchain. As a result, it can be more secure than traditional online casinos. Nonetheless, it is still one thing that will depend on the specific casino. So, make sure to pick one with state-of-the-art security.
One of the first things to check is the website bar, which should have HTTPS written before the website name. You must also look for the padlock icon, which indicates the website is secure.
To add, look at the deposit and withdrawal methods available on the crypto casino. They must be done through secure platforms, minimising the chances of losing your funds.
Many people play at online crypto sites to have fun. It is good to pick one with a wide selection of crypto games. Look at Bitcoin casinos with thousands of game titles to choose from. Classic slots and table games are some of the most popular.
Many crypto casinos in Spain also offer sports betting as an alternative to traditional casino games. Hence, you can wager on your favourite teams and players. It can be a promising way to increase your bankroll.
Ease of Use
Not a lot of players have the patience to deal with complicated platforms. Look for one with an intuitive interface. Read reviews from other players and learn from their real-life experiences. Doing so will help you find the best crypto casinos in Spain.
Some Bitcoin casinos even have demo modes. It will allow you to play without depositing any amount.
Among others, optimisation for different platforms can make an online casino user-friendly. Whether you are playing on a desktop computer or smartphone, the experience must be seamless. Adjusting your screen size is necessary when accessing the casino website or app.
You will need to contact customer support at one point. For instance, you might need help with delays in deposits or withdrawals. You might also have some discrepancies in your account. Regardless, the crypto casino must offer reliable customer support.
Live chat is a common feature in many online casinos today. With this, you can expect an immediate response from a customer support representative. Self-help guides are also often available. They are in the form of FAQ sections or articles that guide players. Crypto casinos may also offer email support. However, it can take quite a while before you can receive a response.
Crypto casinos in Spain offer a fun and secure online gambling experience. They provide a wide selection of games, including slots and table games. Meanwhile, some will even have sports betting. These casinos have many benefits, including anonymity, low transaction costs, and security.
However, they are not all the same. Hence, you must be careful in evaluating your options. Look at various factors as you narrow down your choices. Game selection, security, and customer support are some of the most important.
Are online crypto casinos legal in Spain?
Yes, online casinos, including those that accept crypto payments, are legal in Spain. The Spanish Gaming Act of 2011 made it legal to play online games. However, such casinos must have a valid licence at a federal or regional level. With this law, the government has strict regulations and requirements. In turn, it can help protect the players.
What cryptocurrencies do crypto casino sites accept?
The specific currencies you can use in crypto casinos in Spain vary. However, most will accept major cryptos, including BTC, BCH, LTC, ETH, DOGE, and XRP. Many casinos will accept major fiat currencies, including USD and EUR.
Is gambling tax-free in Spain?
Consider your tax obligations before playing in crypto casinos in Spain. Players must declare their winnings and include them in their tax returns. They must do so even though gambling activities are not eligible for VAT.
Meanwhile, losses are also deductible. In addition, please take note that crypto itself is taxable in Spain.
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