If you are a gambler, you probably consider yourself a measured individual, who knows when to quit playing and call it a day. We believe that there are individuals like this out there, who know that gambling is just for fun and not a crazy activity they need to do every day. Most of the gamblers have it as a hobby and practice it maybe once or twice a week. However, the banks where you have accounts and the ones you are using to make deposits on the casino websites do not think this way.
Why is it bad to deposit with your Bank account?
Normally when you make an account in the bank, they do not expect or want you to only use their services of storing money, it is in their best interest that you go to them when you need a loan for a business or a mortgage. However, you need to have a “clean sheet of paper” in your history to be eligible for a loan, because the banks don’t want to hand out loans to those who can’t pay them or won’t pay them. Therefore a good credit history is required for you to be eligible for a loan.
Most of the time they always state what can harm and what can benefit an individuals credit score. However, most of the times they don’t disclose the information that gambling is a way to harm your credit score. Yes banks actually believe that if you are gambling online than, you will either:
- Ask for a loan because you want to gamble
- Will gamble away all the loans they have previously given you making it impossible to return them.
What can Bitcoin do about this?
Bitcoins are as you already know, not tied to your bank account. You can utilize different variations of wallets in order to store your bitcoins. Sometimes its even easier with Bitcoin transactions than normal currency transactions. This is why the best gambling sites have included a feature which will help you make transfers or even gamble with Bitcoin itself.
Hopefully, you already understood what we’re trying to say. The moment a bank sees that you are using your money for gambling it will automatically assume that you are not to be trusted with a loan, therefore it will either not give you a loan, or will give it to you under completely different circumstances. But, if you opt for Bitcoin transfers or Bitcoin gambling, your bank will not be involved at all, making your gambling anonymous and unreachable by them.
Summary
In order to summarize everything, we need to mention how much Bitcoin has had an impact on today’s world. It has given people a lot more liberty with their money and gambling is no exception. With the help of Bitcoin, you can gamble and still entertain yourself with your hobby without damaging your credit score. However, no matter what we say about it, it is still gambling and we need to urge you to be careful.
