Like many things in the modern age, gambling is now mostly digital. Of course, with everything now switching to digital, currencies have made the jump, too. No currencies are more digitised than bitcoin and other cryptocurrencies. It shouldn’t come as a surprise then, to learn that online gambling and bitcoins can often go hand in hand. What is bitcoin casino and bitcoin gambling, though, and how – if you haven’t tried it yet – do you get involved?
What is bitcoin casino ?
Over the course of this tutorial, we will show you how to get started with crypto gambling. Our introductory guide will help you get set up in the exciting world of bitcoin casino in a matter of moments. You may still have a few reservations. After all, bitcoin markets do tend to be somewhat volatile. Often, the pros outweigh the cons, though. How so? Let’s find out why people would want to bet online with bitcoin in the first place.
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Why gamble with bitcoins at online casinos?
Not everybody is comfortable with BTC gambling, those who aren’t will pile on a list of arguments about why bitcoin betting is not as advantageous as general online casino gambling with US dollars or other currencies. Often, though, they will neglect to tell you the perks of online gambling with bitcoin. We’ve decided to look at both sides of the coin, to give you a clear, overall picture of what life betting with bitcoins is really like. First, let’s start with the pros.
The advantages of betting with bitcoin
- Anonymity: Not every player is fortunate enough to live in a country where gambling is legal. Bitcoins provide a certain degree of anonymity and using them to gamble online (as well as a good VPN) will enable you to get the most out of your betting experience, in secret.
- Fewer fees: Tired of having to pay a small fortune to withdraw? Many offshore casinos will make sure they take you to the cleaners when you want to withdraw, and they have harsh withdrawal caps in place, too. Often, there’s none of that going on with a bitcoin casino or sports betting website. All the best ones will not charge a fee for either minimum deposits or withdrawals.
- Speedy withdrawal times: If you like fee-free withdrawals, you’ll also love the fact that bitcoin casino sites offer amongst the fastest withdrawal times on the net. In many cases, you can get hold of your winnings in under an hour. Very few online casinos can match this perk.
- Security is absolute: Bitcoin wallets cannot be easily hacked; your identity is well-hidden and protected with the best protection out there. There is no third-party process to go through with withdrawals, therefore making bitcoin banking safer.
Are there any disadvantages of playing?
We’re not going to lie. Like everything in this world, there are disadvantages to betting online with bitcoins, too. However, unlike other casinos, the flexibility of the bitcoin casino industry means that these can sometimes be circumvented, skirted or avoided altogether. Disadvantages to betting online with bitcoins include:
- A fluctuating market: The price of bitcoins varies. Converting dollars into bitcoins may see you land a reasonable exchange rate, or a poor one. Keeping an eye on the market is one way to try and get around this hurdle, though.
- Beware of license-free sites: Because bitcoin casinos often operate outside of licensing jurisdictions and regulators, some of them can be sketchy at best. However, locating the Provably Fair certification or a casino license number will alleviate this issue. We’ll cover that in a little more detail shortly.
Get started with bitcoin gambling today
If you’re up for giving bitcoin gambling a go, then read on. Getting started may sound like a complicated task, but there are only a few steps you need to know before you can begin playing. We’ve detailed the steps below. Follow them one by one, and you’ll soon be well on your way to betting online with bitcoins.
- Opening an account: The first thing players need to do is choose the cryptocurrency they want to use. Most players use bitcoin, so we’d recommend that. There are others available, too, and we’ll come to those shortly. Once you know which cryptocurrency you are after, you need to visit the homepage of your chosen currency and click on get a free wallet, or something similar. This will enable you to open a bitcoin account.
- Types of wallets: Various kinds of wallets exist for players to use. Web wallets, also known as online wallets allow players to access their bitcoin funds from anywhere in the world if they are connected to the internet. Desktop wallet options are more secure since they can only be accessed by the computer you are using. The downside to this option, though, is that if something happens to your computer, you may very well have lost your funds.
Mobile bitcoin wallets also exist, including Android wallets and iOS wallets. While these are great for players on the go, these are quite prone to hacker attacks. If somebody steals your phone, you’re in trouble. Hardware wallets are the most secure ways of keeping your bitcoin funds safe. These are stored on USBs or external hardware, some come with screens and act solely as bitcoin banking machines. The trick is finding the ideal method for you. More information about the various bitcoin wallets you have open to you can be found online.
- Buying bitcoin: Now that you have a bitcoin account, you need to buy bitcoin. If you aren’t familiar with a bitcoin buying site, using bitcoin exchanges such as Coinbase and others is a great place to start. You can use a bank transfer, credit card, debit card or other options to purchase bitcoins. A bitcoin transfer then takes place, sending those funds to your bitcoin wallet.
- Finding your ideal bitcoin casino site: You should by now, be all set up and ready to go. The next thing you need to do is find a perfect site which enables you to bitcoin gamble. One way to go about this is to scroll through the various sites and see what they can offer you. However, we can save you time there. We’re heavily involved in the bitcoin betting business, and we know our bitcoin casinos inside out. Why not let us do your homework for you?
Our top bitcoin casino reviews can provide you with in-depth analysis of many top bitcoin casinos. By checking out our reviews, you can speedily find a safe and secure bitcoin casino or sportsbook to play at.
- Registering at online casinos: Once you’ve found a bitcoin casino or gambling bitcoin-friendly domain which tickles your fancy, it is time to become a member. Each bitcoin casino will have a “join now” or “sign up” button displayed somewhere in their lobby, or homepage. You first need to click on it.
Players are then taken to an e-form. After filling out the registration form, you need to verify your account (often via e-mail). We’d also recommend that you go through the KYC (know your customer) process, to speed up withdrawals in the future.
- Deposits and withdrawals: Depositing at a bitcoin casino site is a doddle. The online casino payment section of a bitcoin casino will see you able to select the cryptocurrency of your choice. From there, simply enter whatever you wish to deposit and confirm it. Some bitcoin casinos will also enable you to deposit using US dollars and other currencies, so you can “buy” bitcoins there on some occasions.
Withdrawals follow a similar process. Players can select the withdrawal option they wish to use (based on the cryptocurrency they have) and then enter the amount they want to withdraw. If there are no fees (for miners to process your transaction), then you should be able to withdraw instantly and receive your winnings in your bitcoin wallet in anything from a few minutes up to no more than 2 hours.
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The safety, security and legality of bitcoin casino
The safety, security and legality of bitcoins are always up in the air, but there are some tell-tale signs that the casino you are playing at is safe. There are always a few insecure BTC gambling casinos out there, but this is not limited to bitcoin casinos; the same is true of standard online casinos. By and large, if a casino carries the Provably Fair certification, you can rest assured that they have top security and that they adhere to fair play gaming rules. Some bitcoin casinos are even licensed out of respectable jurisdictions, meaning that they are regulated to ensure that they are legit places to play.
Of course, few countries have recognised bitcoin as a legal currency, so there is always that issue to contend with. However, none of that really impacts the safety of bitcoins as a currency. Unless you have the device which your wallet is stored on stolen, the safety and security around gambling with bitcoin is absolute.
What is Provably Fair At Bitcoin Casinos?
We’ve talked about it enough, so now it is time to look at Provably Fair. This is an algorithm which analyses and verifies the fairness of an operator’s software. Ordinarily, online casinos do not use this software because licensing providers and gambling commissions regulated them. However, with bitcoin casinos being mostly unlicensed, the Provably Fair mark has become the sign of a top bitcoin casino site and is all important.
The algorithm scans the operator’s service and makes sure that their games’ random number generators are behaving correctly and in-line with the industry standards. They are looking for fair play, and any bitcoin gambling website which passes the test can bear the Provably Fair certification. This ensures gamers that the place they are playing at is safe and secure.
What about other cryptocurrencies at bitcoin casino sites?
If you aren’t big on bitcoins and want to try your hand at another cryptocurrency, you do have other options to you. Admittedly, most (though not all) cryptocurrencies work in the same way, minus a few modifications. You can certainly follow the same sign-up procedure we mentioned earlier to open wallets with them. Some of the other more popular cryptocurrencies include Ethereum, Dashcoin, Dogecoin and Litecoin. Also you will find bitcoin casinos with options for classic payment methods like: Visa, Neteller or Skrill.
Players should note that not all online gambling bitcoin casinos accept all cryptocurrencies, so they may wish to check-up which cryptocurrencies a bitcoin casino site offers before they sign-up there. It is also worth noting that not all cryptocurrencies are worth the same in terms of value. Keep an eye on those markets and decide which one you wish to use wisely.
Bagging bitcoin casino bonuses and promotions
They may have started out being entirely different from online casinos, but the gap between BTC gambling casinos and online casinos is closing all the time. There are now precious few things that an online casino can offer which a bitcoin gambling site cannot. This, of course, means that you can now claim bonuses and promotions when playing at such sites.
Some of the bitcoin casino promotions and bonuses you can expect to find at major bitcoin gambling sites include:
- Bitcoin casino no deposit bonus: Generally offered either to new players who sign up at an online gambling bitcoin casino or as a free, daily bonus; these offers are generally worth minimal sums of BTC. They can be used to play games for free, with the potential to win real money.
- Welcome bonus/ Bitcoin sports welcome bonus: These bonuses are offered when a new player first signs up to play at a bitcoin gambling site. When they deposit for the very first time (perhaps the first few times), players can claim a bonus which is worth a percentage of whatever they have deposited. If you deposit 1 BTC and claim a 100% match bonus, for instance, you will be able to claim the equivalent of 100% of that bonus (another 1 BTC) back as a bonus.
- Match deposit bonus: These work in much the same way as welcome bonuses. They can be offered far less frequently, though. Some may be provided once per month or once per week, and some are offered every single time you deposit into your bitcoin casino account.
- Loyalty bonuses: These types of bonuses are offered based on your “loyalty”, or more specifically, how often you play and how much you wager. Players can work their way up through tiers by playing games and earning points for their bets. They can then earn prizes (such as free spins on slots, extra cash, or access to events) by exchanging those points.
Just like an online casino, the promotions and bonuses and bitcoin casinos and gambling site (such as a no deposit bonus, for instance) may require players to enter bonus codes to claim the offers. Most promos also come with wagering requirements, which must be met before a withdrawal can be processed.
Keep up to date with the latest bitcoin casino news
The bitcoin gambling industry (like other aspects of the online gambling world) is ever-changing. It pays to keep tabs on the latest bitcoin news, the hottest promotions and the newest slot releases. There are ample resources out there which can help you do this, and we recommend that you use all those resources to keep yourself abreast of the latest changes. It is also advisable to keep tabs on the fluctuating bitcoin currency market, to ensure that you get the best exchange rates wherever possible.
Everything you need to know about bitcoin casino sites
Bitcoin gambling sites are now so extensive that there are no virtually no differences between them and standard online casino sites, as we’ve said. Many can offer you access to casino games, poker games, dice games, slots, and even sports betting. In fact, most of the top bitcoin casinos will also offer you access to a sportsbook via the same website, and many now come with bitcoin apps which can enable you to best on the go.
So, what can you expect to be able to play at bitcoin gambling sites? Everything and anything, really. Typical bitcoin games include online roulette, blackjack, table poker, video poker, and of course, slots. You also have forex stock betting and sports betting, bitcoin dice, lottery games, even bitcoin bingo games. In short, there is nothing you cannot play at bitcoin gambling sites.
Things to know: Bitcoin gambling FAQs
You probably still have questions, and the chances are that those questions are going to be amongst the most commonly asked ones. Before you get started, we’ve put together a brief FAQ guide here to help you with some of those.
The final word
Bitcoin casinos are indeed on their way up. These bitcoin gambling sites you see today are vastly different than those which appeared a few years ago. You’ve got a full range of casino and sportsbook capabilities, with top promotions, an arsenal of the internet’s best slot and table games, quality customer support and anonymity/security perks. Bitcoin betting does take some getting used to, but if you regularly deal in bitcoins, and you choose a respectable place to play, then gambling with bitcoin could just be the next big thing for you.