An anonymous casino uses Bitcoin, or another cryptocurrency, as its payment currency. This gives the anonymous casino three principal characteristics: i) anonymity by design, ii) unrestricted use and iii) borderless commerce.
First of read a great article “Anonymous Casino – A Historical Guide” published by Gamreview.com
Anonymity by design
First, all Bitcoin (and crypto) transactions are completely anonymous by design. The transaction process doesn’t require any personal data sharing. This gives users of Bitcoin complete anonymity when transferring funds and betting online.
Traditional payment methods (e.g. debit/ credit card and e-wallets) require sharing sensitive personal data (card and bank ac data, name, address etc), which is a technical and regulatory requirement. It also creates a paper trail on the bank account and card account. Third parties such as tax authorities, banks (and spouses!) can trace your online activities.
The next characteristic is the unrestricted use of Bitcoin. Provided the vendor you want to transact with accepts Bitcoin as a payment method, you can use it where you want and when you want. Because Bitcoin doesn’t depend on third party payment companies for processing, transactions can never be rejected.
Third-party fiat payment companies on the other hand can block and reject certain transactions for legal and regulatory reasons. This means that certain types of transaction i.e. gambling, and certain jurisdictions where those gambling companies may be located, are out of reach for some customers. Bitcoin completely does away with such third-party interference in your transactions.
Finally, as a decentralised currency, Bitcoin is borderless; you can receive and make payments anywhere in the world. Nobody, be it government, regulatory body or any other third party can inhibit a Bitcoin transaction. So long as a gambling site accepts Bitcoin as a payment method, you can deposit to that site, gamble on it, and withdraw your winnings from it regardless of where it is located.
For sites that use traditional ‘fiat’ payment methods there are severe restrictions on who can deposit, gamble, and withdraw depending on where they are located because of government, payment and banking regulations. If your region prohibits online gambling, then you will likely encounter severe difficulty with cross border fiat payment transfers.
With these three characteristics (anonymity, unrestricted use and borderless commerce) hard wired into the design of Bitcoin it is unsurprising that Bitcoin casinos and sports betting sites have witnessed a meteoric rise in popularity over recent years. These sites grant their patrons what they need; a private space to gamble free from the interference of overzealous governments.