One of the freest marketplaces in the world is what comes to mind when thinking about online gambling in the Netherlands. That is regrettably not the case. Only a state-sponsored casino, Dutch Casino, has a monopoly with numerous casinos all across the nation, including traditional brick-and-mortar casinos. Thankfully, things are improving right now, and Dutch players have many reasons to be enthusiastic.
The government of the Netherlands has just given online gambling official approval to operate legally. The difficult responsibility of evaluating each application for a license and either approving one or refusing it falls to the Netherlands Gambling Authority. Although it is a laborious process, it has already produced results. Local internet casinos have already received a few licenses from the authorities, and they are up and running.
Payment options are a crucial factor to take into account when selecting an online casino. Cryptocurrency is one technique that is gaining popularity. Many well-known websites are hybrid casinos that allow payments made in both fiat money and cryptocurrencies.
However, many experts in the niche of iGaming are pessimistic. iDealeCasinos – a brand-review website approved by KVA and operated by UniLead, thinks that crypto regulations in the Netherlands are going to be harsher than the market anticipates.
Here We Will Discuss Why Cryptocurrencies Are Not Widely Adopted in Dutch Casinos:
Less Government Oversight
Players have very few choices available to them if any issues emerge with the casino that they are playing at because the casino does not have a license and there is no regulatory agency. This does not imply that casinos accepting cryptocurrencies do not have licenses. The majority of them are subject to licensing and regulation. However, there are bitcoin casinos that are operating without proper licensing. It is not necessary that they be dishonest simply because they do not have a license, but if they are, you are on your own.
Volatility
Cryptocurrencies are known for their high levels of volatility, which means their prices are constantly changing and can experience both positive and negative swings. You can score a significant victory at the casino but then find out that the value of your cryptocurrency has decreased, causing you to lose all of your earnings. There is the possibility that it will go in the opposite direction and end up helping you out. It is a gamble on two fronts.
No Refunds
Once funds have been transmitted from your cryptocurrency wallet while gambling online, they cannot be retrieved under any circumstances. There is no other way to get your money back if you spend too much or send it to the wrong address, unlike when you use a credit card or one of the other payment methods that allow you to pause or cancel a transaction.
Lack of Familiarity
As we all know, there has been a massive rise in the cryptocurrency market, over 2 trillion dollars. Most people have never owned any cryptocurrency, let alone used it in any transaction. This is because most people do not even know what cryptocurrency is. Many people don’t understand the procedure and are unwilling to give it a shot, although it isn’t complicated to use.
Payment Options That Are Open to Players in the Netherlands
The banking choices that are open to you have a significant impact on the overall quality of the casino experience. You are looking for ways that are not only secure but also quick and app. We have prepared a list of the most reliable and convenient Dutch casino payment choices, all of which can be found in online casinos that welcome players from the Netherlands.
iDEAL
If iDEAL is offered as one of the casino’s payment choices, this is a strong indication that the casino is ideal for players from the Netherlands. The iDEAL platform provides consumers in the Netherlands with a specialized alternative that grants them access to online banking services and enables them to make payments promptly in any location. Dutch gamers can exploit this on their casino accounts. You do not need to register with iDEAL directly; instead, you just need to have an account with one of the banks it supports. The online Gokken iDeal enables quick transactions and smooth banking.
Cards, Both Debit and Credit
While making withdrawals and deposits from your casino account, debit and credit cards are widely accepted payment methods. Mastercard and VISA are the two most known and reliable options, both of which are accepted by Dutch players in addition to other international options. The universality of these two cards, in addition to the speed and ease with which you can add funds to your account, is an advantage of using either one.
PaySafeCard
You can use the Paysafecard if you wish to add an additional layer of protection to your online transactions. They are prepaid cards that include a PIN number that is sixteen digits long and may be used in the majority of stores around the nation. You are able to make payments to the account using this card while remaining completely anonymous and without disclosing any of your financial information, including your bank details or credit card numbers. However, there is no assurance that every online casino that welcomes players from the Netherlands would provide this choice for their customers.
E-wallets
As a form of payment, using an electronic wallet provides a high level of convenience in addition to security. Because of their widespread availability, many gambling establishments now accept them as legitimate methods for making deposits and cashing out winnings. You will have to register for an account with any of them, and for further protection, you should set up a two-step verification process.
Conclusion
The gambling sector in the Netherlands is opening its doors to more customers, and players from the Netherlands can finally experience the excitement they’ve been missing out on. It is beneficial that their regulatory agency is in the process of establishing appropriate industry standards and will play a vital oversight function to protect the players. Therefore, even though it might be exciting, it is essential to perform your research to find the best online casinos that are also legal.