One of the newest trends in the world of online gambling is the option of using Bitcoin as a payment method at online casinos. Cryptocurrency has made safe, fast and anonymous deposits and withdrawals possible on at least a dozen super-known betting sites.
Despite having been present for more or less five years on some sites, we know that this option is still quite new and not very widespread among players, who still tend to use more common methods for their deposits. Therefore, in this guide, we explain in detail how Bitcoin works and how to use it to place bets on gaming sites.
The creation of Bitcoin is attributed to a programmer (or group of programmers) under the pseudonym Satoshi Nakamoto. The currency and its system were created between 2008 and 2009 as the first fully decentralized form of electronic money. This means that Bitcoin is not linked to and controlled by any government or financial institution. It was the first digital currency in what would become a series of coins that today also include Ethereum and Litecoin, among others.
The Bitcoin system allows financial transactions without intermediaries (peer-to-peer electronic cash system). This means that currency is directly transferred between users, who do not need a bank, card, or cash to transact currency. All transactions made, however, are published and verified by all network users on a distributed database, known as the “blockchain”. Blockchain is decentralized, which means that there is no entity or body responsible for administering the currency and transactions.
However, as a currency of exchange, Bitcoin experiences fluctuations in value, just like other currencies. But what influences its value is not inflation or devaluation, but market supply and demand. It is also worth mentioning that its quotation is the same in all countries, without exception. In this way, if you bet using BTC, you won’t lose a penny in conversion rates to dollars or euros, which are the currencies generally used in casinos.
First, if you don’t have coins yet, you need to create an account to carry out your transactions. Let’s call this account BTC wallet. There are several websites where you can register to open a BTC wallet. In general, you can have two types of wallets – one completely online, which you access from your web browser, and the other installed on your computer as a desktop program. While some claim that the web version is better for punters, the desktop version is also said to be more secure. The choice of which one to use for online casinos is yours.
When opening your account, you will need an email and password. Afterwards, you will also need to create an address (such as an ID that identifies your account) that you will use to make your transactions. As with online wallets like PayPal, where you only need your email and password to receive and send money, you will use your unique ID to carry out your transactions.
Once your wallet is created, it’s time to buy coins to start using it. You don’t need to have thousands of dollars to start. It is possible to buy hundredths of Bitcoin, and today most transactions are done in hundredths, as the value of the cryptocurrency has grown a lot in recent years.
To buy Bitcoin, there are a few options:
|👍 Advantages||👎 Disadvantages|
|Deposits made with BTC are usually instantaneous.||Buying BTC is actually an investment. Like any investment, it can end up being positive or negative. As BTC is an exchange cryptocurrency, its value never stays the same, it is always rising and falling in short periods of time.|
|Withdrawals, despite taking longer than deposits, are among the fastest.||Transfers made with your BTC wallet cannot be canceled if you change your mind later.|
|Some sites offer great incentives for deposits made with the currency.|
|As a direct method of transferring money, it can be one of the safest and most anonymous options for placing bets online.|
|A good way to increase the numbers of your bitcoin wallet and trade it for other money.|
The online casino market has become very competitive in the last few years worldwide, so operators are obliged to offer their players as wide a range of different games as possible. The most popular casino games are certainly slots, but roulette, poker, and blackjack are not far behind.
Players who use Bitcoin can access all of these games, depending on the casino of choice. But such casinos that offer Bitcoin will offer a great variety of games as well. Here is a bit more about the most popular casino games:
In any quality online casino, you will be able to choose from hundreds of different slots. Fruits are very popular when it comes to slots, and they gained their popularity in real casinos before the advent of the Internet. Even today, players resort to them, and you can find dozens of them in online casino sites all around the world.
Each of these slots comes from trusted software providers like EGT, Microgaming, Pragmatic and others. Whether you prefer low or high volatility slots, you will always be able to find a fruit slot of your choice. You can generally play slots with stakes from one hundredth Bitcoin to several thousands.
One of the most popular table games in online casinos is certainly roulette. Operators will often offer you over 20 different variations of this game in the table games section, while you will also find roulette in the live casino section, if the casino offers it. The most popular variants of roulette are certainly European, American, and French.
Within roulette, there are two basic types of bets – inside and outside. The first refers to the fields with numbers, and the second to all other fields on the table. You can bet on a number, on black and red, on groups of numbers, on half of a number, on a row of numbers, even and odd numbers, smaller and larger numbers and the like. It’s very simple.
Blackjack is a very popular card game which occupies a large part of the table games section of any online casino. As with roulette, you will be able to find many different variants of blackjack. You can play blackjack live, or a standard version without live streaming.
An interesting fact is that this is one of the few games of chance against the house where the player can gain a statistical advantage over the casino. The rules are very simple – the goal of the game is to reach a number of points higher than the croupier’s, without the player going over 21. If it goes over 21, the player automatically loses the game.
Poker is a game with many possibilities. There are different variations of this game in all online casinos. Texas Hold’Em is the most popular form, followed by Omaha and Five-card draw. Other less popular variations are Razz and Stud.
Each type of poker has its advantages and disadvantages, but video poker is generally the most played one as it has the lowest casino margin. Some casino sites offer poker tournaments where players can enjoy real casino experience online.
Finding a bitcoin casino may or may not be easy, depending on the availability of bitcoin casinos around you. However, there are some important factors to consider when choosing a casino site. Here are the most important things to look at:
Your first investment in a bitcoin casino can also be boosted with a welcome bonus. These can be used for better gambling experience as they can enhance the chance of winning. However, all promotions have rules and for that reason we always recommend reading the Terms and Conditions.
In addition to welcome bonuses, casinos offer great promotions for regular players that can be used to save some cash while gambling. These are incredibly important to have if planning to gamble regularly. Finally, some casinos offer bonuses for bitcoin users, which are usually small, but better something than nothing.
Bitcoin casinos can work with cryptocurrency in 2 ways that have significant differences – for the option to create a Bitcoin account on the platform, and only allowing transactions via BTC wallet. You need to know how each of them works to find the one that best suits your profile.
Bitcoin account – some casinos allow you to have a Bitcoin account, which makes it possible to select BTC as your main currency. Thus, transactions are actually made in cryptocurrency, without the need to convert to a fiat currency, such as euro or dollar.
Via Bitcoin Wallet – when the casino accepts transactions via Bitcoin wallet, it means that your balance will be converted. You make your deposit in cryptocurrency, but the bets will be made in fiduciary currency (euro, dollar).
The Bitcoin-accepting casinos must be checked for the security they provide for players. After all, we invest our money to play in casinos and all we don’t need is a site with security flaws that allow our personal data to be leaked. You can do this too. Basic information is usually at the bottom of the page – see if the online casino has a valid license. This means that the site undergoes audits to ensure fair play. Look for seals from authorities such as eCogra, the benchmark for anti-fraud testing. Check if the site has responsible gaming actions, offering guidance on combating gaming addiction. Choose platforms that use current security technologies such as data encryption.
The best casinos often partner with leading game developers. Thus, the catalog becomes richer, with the most sought after games, in addition to diversifying modalities. Find Bitcoin casinos where platforms offer traditional games so that there is no shortage of Blackjack and roulette options, for example. You can also find online scratch cards and bingo.
For those who enjoy the thrill of playing with professional dealers, consider choosing a live casino. See if the platform offers renowned software like Playtech or Evolution. A good diversity of suppliers also adds positive points.
For practicality, it is important to verify that the Bitcoin casino offers a good experience to play on mobile. Check if there is an app available for the operating system you are using. You can also test whether the mobile site works and hence you will be able to enjoy the features even without downloading an app. The games should work perfectly when accessed through the browser and most sites keep the catalog organization very similar to that of an app.
Having a support team available at your online casino is important because it allows you to clarify doubts and solve problems in a safe way. For that reason, verify that the platform offers support to players via chat, inform the opening hours, it doesn’t take long to clarify doubts, etc. The best support team will work 24/7 and will provide live chat, email, and telephone line help.
Bank slip Before the emergence of other electronic payment methods, bank slip was always very popular with gamblers. It remains strong and continues to be accepted by virtually all online casinos. Bank transfer Today it is difficult to find someone who does not use at least one banking application on their cell phone to make transfers and payments. Bank transfer is also a very strong payment method in online casinos, known to be safe and still being the preferred method for online casinos to pay players. Credit and Debit Cards Credit and debit cards are also widely used and many players do not hesitate to use this payment method to make withdrawals and deposits. This was also one of the first methods used when online casinos started offering their services, but today it has lost popularity mainly due to exchange rate fluctuations. Most popular are Visa, MasterCard, and American Express. Electronic Wallets Also known as e-wallets, are not yet as popular with the general public, but have been increasingly adopted by gamblers. In practice, it works similarly to a banking app, where you can register your credit cards and other methods to concentrate your financial transactions in one place. Most popular are paypal, neteller, Skrill, and ecoPayz. Prepaid Cards Prepaid cards are a great option for players who don’t have access to other payment methods. It is also very popular for allowing greater control of finances, since you control the amount you want to bet and don’t have to worry about committing excesses, as can happen with traditional cards. Most popular are AstroPay and paysafecard. Other cryptocurrencies Cryptocurrencies may seem like a confusing concept at first glance, but it has been increasingly sought after as a form of investment and has also reached some of the country’s online casinos. The main difference from other payment methods is that cryptocurrencies can fluctuate in value, which in itself can guarantee extra profits for bettors. Ethereum and Litecoin are among the most popular ones, beside bitcoin.
Not. But you can use it at the casinos we listed above. Always check whether the casino offers bitcoin payments before creating an account.