Bitcoin Casinos in Japan: Laws & Regulations
Japan has welcomed Bitcoin trading. Almost 50% of Bitcoin trading in the world happens in Japan. Bitcoin casinos are growing in number throughout the country.
Overview of Bitcoin Casinos in Japan
There are many Bitcoin gambling sites in Japan, which have options available in Japanese and English. There are also a lot of cryptocurrency exchanges in Japan, due to which it’s simple to obtain Bitcoins. Apart from Bitcoins, other currencies that are used in casinos in Japan are Ethereum. Gambling itself is not legalized in Japan completely. However, there is the legalization of crypto sports betting including horse racing, motorcycle, motorboat, and bicycle racing.
Bitcoin Gambling Laws in Japan
Bitcoin gambling is legal in Japan. Bitcoin is considered as a legalized payment option. However, there are offshore Bitcoin sites through which Japanese gamble.
Is Online Bitcoin Gambling Legal in Japan?
Bitcoin gambling became legal in Japan in April 2017. On the recommendations of the Japanese Financial Services Agency, the digital currency was included in the present currency laws this year. According to Bitcoin News, Bitcoins are owned by a large percentage of men in Japan, up to 14% in the age group of 25 to 30.
Bitcoin Casinos & Bitcoin Betting
In Japan, all kinds of sports betting are allowed through Bitcoins. These kinds of sports include horse racing, motorcycle racing, bicycle racing, and powerboat racing. Apart from all this, online gambling is illegal in this country. Those who desire to play such games can play them through offshore sites.
Sports betting on football is also allowed in Japan. You can place bets on the major football tournament which is known as the J1 league. There are the least limitations on online gambling sites in Japan, which are operated offshore.
There is, however, quite a bit of confusion regarding the legality of Bitcoin casinos in Japan. Chapter 23 of the Japanese penal code is very ambiguous about Bitcoin gambling although online gambling is prohibited by it excluding sports betting. Although Japanese Bitcoin gambling is not prohibited or allowed, rules regarding it are vague, it’s likely to be legalized in the future because Bitcoin trading happens in large amounts in Japan.
Japanese Yen is one of the most popular currencies which gets exchanged for Bitcoins. It is the no. 4 most traded currency in the world for Bitcoins.
What is happening in Bitcoin Casino Gambling in Japan now?
Japanese gamblers can achieve great benefits from playing in Bitcoin Casinos. Some casinos don’t require any deposit from players. So, you can play for free till a certain level of Bitcoins. Apart from that, free spins are also given to players. Since the Japanese government does not consider Bitcoins as real money, there is no taxation on the number of your winnings in a Bitcoin casino. Also, the transactions in a Bitcoin casino do not have any transaction cost.
Bitcoin Online Casinos in Japan
There are many Bitcoin online casinos in Japan. They offer a lot of bonuses on initial deposits including 110% of the amount deposited in Bitcoins subject to a maximum of 1.5 Bitcoins. You can also benefit from free spins allowed by such casinos. The casino games can also be played on mobile by downloading the software. You can also play games like slots which are considered illegal in Japan.
Bitcoin Casino Bonus Japan
Casinos come with different bonuses. In Bitcoin Casinos, you can get a bonus of up to 155% of your initial deposit subject to a maximum of 1.5 Bitcoins. Also, there is a wagering requirement that you need to bet 30 times this bonus. Other casinos offer 110%of the initial deposit to a maximum of 1 Bitcoin.
Although the government is not clear about the legality of the Bitcoin casino because the transactions are not handled by a third party. The blockchain transactions take place without getting the personal data of the users and hence can’t be traced by the government. You can play on a Bitcoin casino not operated in Japan by accessing such a site through a virtual private network. This way you can avoid the problem of your IP address being blocked by the offshore site. You can also access the offshore sites in Malta and Cyprus which don’t block Japanese players.