The market for gambling in the Middle East has been growing steadily over the past few years. Wynn Marjan recently confirmed that they will build the first casino resort in the UAE, and more major casino management companies are expected to follow suit. Lebanon finds itself very fortunate in this scenario where investors and tourists keep their eyes on the region's opportunities.
Lebanon is one of the few countries in the Middle East that has allowed certain types of casinos and lotteries since 1995. The country has a few brick-and-mortar casinos that are very popular to locals and tourists. The first two are controlled entirely by the state-run Casino du Liban, while the La Libanaise des Jeux, another state-run institution, controls the third.
The most popular casino in the country is Casino du Liban, but it doesn't run any online casinos. This puts regular Lebanese gamblers in a relatively tight situation. Casino du Liban is a venue that opens its doors almost exclusively to Europe’s and the Arab world’s wealthy elite, while online gambling is not available by any legal means.
Online gambling is considered illegal for Middle Eastern gamblers, including those residing in Lebanon. Even though many foreign-run casinos allow people from the Arabic region to play there, the government may block access to these sites. This is why Arabic sites such as https://www.a7labet.com focus mainly on European-licensed casinos and betting sites with an Arabic iGaming platform. Many people in the casino business think Lebanon will be the first country to let people gamble online and bet on sports.
Advantages of Gambling With Crypto
Cryptocurrency casinos have become popular for Middle Easterners who want to place bets or gamble online. The reason for this is the benefits that cryptocurrency payments provide. Transactions are anonymous, instant, and hassle-free.
As the era of decentralized money gets closer, more and more gaming companies are figuring out how to accept Bitcoin and blockchain. This means that Middle Eastern players can use offshore gambling sites without worrying about getting in trouble with the authorities.
Due to the lack of a centralized regulatory body in the Bitcoin system, no one can take your bitcoins away from you or freeze your "crypto account." Your financial dealings and possessions are under your management. Since Bitcoin transactions are encrypted, financial details are safe from prying eyes. With Bitcoin, you can buy things or make casino deposits without giving out any personal information. No one will ever know who purchased it when you make a transaction using Bitcoin since no personal information is linked to your Bitcoin wallet. Bitcoin transactions may be completed quickly. Whether you use your coins for an international transfer or a takeout delivery from down the street makes no difference. Bitcoin deposits to online casinos are almost immediate. All things considered; Bitcoin is the ideal "game currency" from the perspective of a Lebanese player. Bitcoin is popular among these individuals because it allows them to make deposits and withdrawals without going via a centralized banking system, which may place them in legal jeopardy.
How To Start Using A Cryptocurrency Wallet For Online Payments In The Middle East
If you're a player in Lebanon or elsewhere in the Middle East or abroad, wanting to start using a Bitcoin or Cryptocurrency wallet will be happy to hear that the process of getting started is straightforward. Here we will give you a basic rundown of the first actions you need to take.
First Step: Get a Bitcoin Wallet
To store and trade Bitcoins, you need a Bitcoin wallet. When you use a Bitcoin wallet, the experience will be the same as when you use a traditional online payment processor like PayPal. Money may be loaded into the wallet from your bank account or credit card, which can then be used to make purchases or deposit to online gaming sites. The only novelty is that through the wallet, you can convert your fiat currency into cryptocurrency and vice-versa. Again, the process of creating a Bitcoin wallet account is identical to that of creating any other kind of e-wallet account. Find a service, and then just do what they tell you to do in the registration process.
Second Step: Fund Your Bitcoin Wallet
After creating a wallet, the following step is to fund it so you may buy Bitcoin. Remember that the price of Bitcoin can change, just like the price of any other currency, so always check the rate before you make a transaction. You shouldn't worry too much about this since it will constantly change in both directions. You may fund your Bitcoin wallet with a debit or credit card or by connecting your bank account to your wallet. You may choose whatever approach you like most since they are all equally effective.
Third Step: Deposit With Bitcoin
When you're ready to play at an online casino or sportsbook, you must send some of your Bitcoins from your wallet to the site. You can easily deposit Bitcoin by clicking on the Bitcoin icon on the deposits page of your favorite online casino or sportsbook. They will tell you exactly where to send your money and how much to put in. Your funds should be available on the site, and you should be able to start playing or betting within a few minutes once the transaction has been authorized.
The Future Of Gambling In The Middle East
While opinions are divided on the matter, it’s hard not to see Middle Eastern countries' strict gambling policies as a missed opportunity that creates more problems than it solves. Instead of keeping its citizens safe, the country is creating opportunities for illegal gambling dens to pop up. Instead of gaining valuable tax revenue, the governments are giving away those funds to offshore online casinos. Until better and safer options are available, Middle Eastern punters’ best bet is to use a VPN and deposit via a crypto wallet to their favorite online casino website.
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