Is Bitcoin Gambling Anonymous?

There are many ways to use Bitcoin. Ever since it was first used to buy a pizza the things you can buy with the digital token now include web hosting, clothes, and various services. Online gambling with Bitcoin has also soared in popularity. This could be because cryptocurrency is a perfect match for playing games at an online casino. It offers lower fees for withdrawals, access for gamblers in countries where online betting is frowned upon, and a measure of anonymity.

The Truth About Anonymous Bitcoin Gambling

There are certainly online casinos, sportsbooks, and racebooks that let the Bitcoin gambler participate without providing personal information to deposit and withdraw funds. In a sense, that makes betting with Bitcoin anonymous. But the reality is that it offers a semblance of anonymity for the player. Technically, there are still ways that an individual’s identity could be compromised.

Transactions that are made with Bitcoin become a part of what is called the blockchain. The blockchain is a decentralized ledger which keeps an ongoing record of Bitcoin transactions. Since those transactions are made from a Bitcoin wallet it is possible to identify the activity of a wallet when it comes to sending and receiving tokens. If that wallet is linked to your identity in any way, there is a possibility that someone could trace it back to you.

Let’s just give an example. You decide to make a purchase of something with Bitcoin that requires shipping. You use your Bitcoin wallet to pay for the item and provide a name and shipping address. If someone really wanted to go to the effort it would be possible to perhaps establish a connection between you and the wallet. Now, you then use the same wallet to gamble at an online casino. In theory, the dots could be connected and your identity could be revealed.

But let’s be realistic. Making all these connections would involve a lot of time and effort. It’s very unlikely that someone would attempt such a thing without a reason. And if there is a reason, then you are probably in trouble anyway. The bottom line is that it’s just too complex for someone to try and track down someone else that is gambling at an online casino with Bitcoin. So, the conclusion is that Bitcoin offers the closest thing to anonymity you can get when online gambling.

In fact, Bitcoin is the only way to get any sort of anonymity when gambling online. It isn’t linked to any bank account, and if you choose a wallet wisely you can even avoid revealing any personal information.

Why Does Anonymity Matter for Online Gambling?

For some people, anonymous gambling might not be a big deal. For others, it can mean shielding gambling activities from a spouse, friends, or family. It can mean keeping gambling records off of credit card receipts and such, thereby eliminating a troublesome paper trail. Some people just don’t like to put their business out there for all to see.

There is another important reason, though, that makes anonymous gambling with Bitcoin attractive. Online casinos that are reputable do their best to safeguard the personal information of their account holders. Even so, the digital age brings about digital threats. Every day the news seems to include another story of a massive data breach. The most effective way to prevent your personal data from being stolen is to not give it up in the first place. If you haven’t used a credit card or bank account to make a online casino deposit, the hackers cannot target your sensitive information. Bitcoin allows you to protect yourself.

The other thing here is that you have a right to remain anonymous if you so choose. If there is a way for you to gamble with Bitcoin and not provide your identity, you should have the right to do that. It really isn’t anyone’s business what you do with your money, even though the IRS would argue with that claim.

Choose Your Online Bitcoin Casino Wisely

You do need to choose an online casino that supports anonymity with Bitcoin. You want to make sure that all you need to cash out is a Bitcoin wallet address. Some casinos don’t require a name or other information. Others will make you jump through hoops to withdraw your money.

It isn’t uncommon for some casinos to ask for a scan of a utility bill, an ID, and other identifying documents before they agree to let you withdraw. So, if you have used Bitcoin and then provide that information, there is now a link to your Bitcoin use and your identity. Thankfully, there are plenty of reviews you can read that will point you in the direction of the right casinos. 

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