Unlike commodities like gold, it has no value in and of itself. For that reason, industry experts agree that buying Bitcoin isn't an investment but gambling.
Not to mention, how do you gamble with Bitcoin?
Use your Bitcoin Wallet Account to deposit onto your favorite site.
As well, why do gambling sites use Bitcoin? Bitcoin solves this problem. Because this currency is not regulated or controlled, it's MUCH easier for gambling sites to process transactions. Deposits are usually more or less instant, and certainly faster and more reliable than other banking options.
Brief, what is a Bitcoin and how do they work?
Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
Is Bitcoin gambling legal?
1) In general there are no specific laws regulating Bitcoin gambling. It is neither officially allowed nor prohibited. ... If it's not a “real” currency, any regulations around traditional (fiat currency) online casinos should not be applied to Bitcoin gambling websites.