Curious about all the buzz surrounding the Bitcoin casinos? Are they really better than your regular online casinos? Keep reading to find out why people are falling in love with Bitcoin casinos and what’s driving their popularity.
You would never have imagined gambling using your cryptocurrency. Well, it’s a whole different world out there. Bitcoin aka Crypto casinos are rapidly gaining traction, because of the wide acceptance of crypto currencies.
As per the news, “Between 2014 and 2017, players wagered $4.5 billion worth of Bitcoin” while another stat shows that, “In the first three quarters of 2023, 74.90% of all cryptocurrency bets were made with Bitcoin.”
Though they are familiar with your regular online casinos, the payment structure is different.
Crypto payments in online casinos offer faster, safer and cheaper transactions than traditional methods like credit cards or e-wallets. And with all the added privacy, crypto is becoming a popular choice among players.
Bitcoin casinos are online gambling sites where you use bitcoins to gamble. For example, instead of using dollars to play poker or slots, you use bitcoins. Thanks to blockchain technology, players find this payment method more transparent and secure.
Here’s a quick overview of how you can gamble at a bitcoin casino:
Setup Wallet: Create a Bitcoin wallet to secure your funds.
Buy Bitcoin: Purchase a Bitcoin from a cryptocurrency exchange.
Sign Up: Register on a bitcoin gambling site.
Deposit Bitcoin: Transfer Bitcoin from your wallet to the casino's address.
Play and Bet: Use your Bitcoins to place bets or play games on the site.
Withdraw Winnings: Send your winnings back to your wallet by providing your address and confirming the transaction.
The hype around Bitcoin casinos is legit. Players find genuine benefits that keep them coming back. Let’s dive into the benefits these casinos offer.
No one likes a slow transaction process that takes hours or days to get processed. Speed is another huge big win for crypto casinos. No more lengthy verification process as Bitcoin transactions are typically done in minutes. So, if you want to deposit your funds asap or withdraw your winnings as soon as you hit a jackpot, Bitcoins casinos and sweepstakes casinos have got you covered.
Many folks don’t want to declare to the world that they are gamblers. So, if you wanna keep things secretive, Bitcoin casinos work best.
Unlike other online casinos that ask for your personal information and your precious credit card details, accounts in Bitcoin casinos can be created anonymously with few details.
Therefore, the risk of personal and financial details being exposed is significantly lesser.
For international transactions, credit card companies and e-wallets can come with heavy fees. Bitcoins keep it cheaper, which means more of your winnings stay in your pocket. Plus, many bitcoins don’t charge fees at all, unlike traditional casinos that might nick you for every deposit or withdrawal.
If you have been gambling for a while, you must know how important it can be to utilize bonuses and promotions to earn a bigger amount. Bitcoin casinos are way better in terms of offering promotional bonuses, royalty programs or free spins as they have lower operating costs than standard online casinos.
Provably fair crypto casinos are a concept that is quickly gaining popularity because of their transparency and reliable payout. The blockchain smart contracts keep things fair and random so players can focus on their strategy without worrying about being cheated.
Because Bitcoin is decentralized, you can access Bitcoin casinos from pretty much anywhere, bypassing the local gambling restrictions that might block you from traditional online casinos. It’s a global playground without the red tape.
When you're playing at a Bitcoin casino, you won’t have to worry about running out of your favorite games. Similar to other online casinos, you can enjoy a huge range of games including slots, video poker, blackjack, roulette baccarat and live dealer games. If you’re into sports or lotteries, crypto casinos can help you have a lucky day. With such a diverse line-up, there’s something for everyone.
Because cryptocurrencies run on blockchain and aren't controlled by federal agencies, they can be illegal in some places where online gambling is allowed while crypto isn't.
In the U.S., while the crypto currency is legal, the legality of online gambling and crypto gambling varies by state. In the UK, both crypto currency and online gambling are legal, but crypto casinos must be regulated by Gambling Commission.
Conversely, in Australia, cryptocurrency is legal, but online gambling is restricted to sports betting, with crypto gambling specifically banned.
Despite the legal complexity, licensed crypto casinos adhere to international standards and offer the same tax treatment as traditional gambling winnings. Though they’re not officially permitted or prohibited, bitcoins are a great way to gamble.
Now, you know why Bitcoin casinos are so popular. Offering fast transactions, generous bonuses, top-notch privacy, and a wide range of games, these casinos cater to both seasoned and new players. While legalities vary in every country, the benefits of crypto casinos are clear, making them highly appealing among gamblers.
