I’m sure you’ve heard of them by now – bitcoin casinos have risen to dominate a big chunk of online gambling going on today. There are several reasons for that. While bitcoin was not specifically designed for gambling, the online casino industry perfectly highlights the benefits of this still relatively young currency.
Banks and fiat currency have been overrun with regulation, which makes dealing with them a huge
pain in the backside. Some form of regulation is of course good, but when we combine banking regulations, international regulations, license regulations, slow processing times AND gambling regulations, what we get is an annoying gaming environment. We play casinos for fun, not to send our ID documents to a thousand different sources, and we certainly would rather avoid hiring a professional accountant to deal with reporting our winnings.
Bitcoin casinos have known these annoyances from the start. The best bitcoin casinos are the ones who understand that players are there just to have fun and play, and they have made sure to make playing at their b casinos as fast, safe and simple as possible. They bypass regulation in an almost anarcho-capitalist manner, meaning that often it’s possible to play at them without giving up or verifying your personal details, and instead of waiting days for different parties to move and approve money transactions, deposits and withdrawals can be handled in a nearly instantaneous manner.
Are bitcoin casinos legal?
Like all types of online gambling, bitcoin casinos are usually hosted in a country that allows the operation of an online gambling website. They also often allow users from any country to register, and it is usually ok to access these sites via a VPN connection. Whether or not it is legal for you to play at them depends on where you’re located, but with the above facts in mind, it seems obvious that many are accessing these casinos from countries that don’t otherwise allow online gambling. The bitcoin gambling sites don’t usually mind your location, but it is up to you to keep yourself safe and compliant.
How to know if a bitcoin casino can be trusted?
First, I’d like to break one myth that still plagues the gambling world. Traditional online gambling licenses are fairly meaningless in reality. They can be purchased with money and only money. It’s not a coincidence that most gambling licenses come from poor or small island nations – they need the money. This also means that a crooked casino can get a license just as easily as an honest casino, as has been proven dozens of times in the past. Obviously, having a license is not a negative thing – it shows that a company is serious about their image – but it’s never a good idea to trust a site just because they have a license. Licenses are meaningless in the bitcoin gambling world, they just add to the regulation aspect that we all hate.
The first thing you should do after finding an attractive looking site is to research their reputation. We provide our own reviews on this website, but it’s also good to look at other sources to ensure an unbiased opinion. Look for legitimate complaints on the web by googling their brand name. Don’t forget to look at positive feedback with critical eyes as well – often feedback can be faked, be it negative feedback planted by a rival company trying to taint the reputation of their competitors, or positive feedback planted by the casino owner themselves. The good thing is, in both cases, the signs are obvious. If there is a similar wording pattern in each review, they are probably fake. It’s also good to see how the brand representatives deal with complaints.
If you come across a new site, it’s good to ensure they are using a trusted game provider and/or offer a verifiable provably fair system. Provably fair games use the blockchain to mathematically track that the house edge% is real.
After you’ve investigated a bitcoin casino’s reputation, it’s a good idea to make a smaller test deposit first. See how they treat you as a player for about a week before depositing the bigger btc bucks. If all is good, make sure to keep an eye on casino news and related forums. Sometimes, a sale of a business can turn a good brand into a crook.
The last security tip we would offer is to never leave too big of a balance on the casino account. All types of bitcoin sites are in constant risk of getting hacked, because hackers are difficult to trace in this industry. Just as easily as you can play anonymously, hackers can steal money anonymously if it’s not properly protected. The same principle goes for exchanges and all kinds of bitcoin banks. Never leave your btc online, keep it safe in an offline cold storage wallet.
Different types of btc casinos and gambling sites
Bitcoin gambling started in the form of dice websites, but has since evolved to match the offering of more traditional online casinos, sports betting sites and even poker. Dice sites still remain somewhat popular – bitcoin dice is a simple, chance based game where an user picks a number between 1-100, over or under, after which dice is rolled and you either lose your bet or win based on the probability of the result. This type of a game was the first of it’s kind to implement provably fair technology.
Sometime around 2011, the scene evolved, and bitcoin casinos were starting to attract big game devs. Around 2013-14, big name providers such as Softswiss, Betsoft Gaming, Ezugi and many others were entering the btc market, and today there is plenty of choice.
In the past few years we’ve also seen a few poker sites come and go, as well as the coming of bitcoin sports betting sites. As the scene has been growing, unfortunately not all btc gambling joints have followed the true spirit of the idea however – what’s the point of playing with bitcoin if it comes with all the same hurdles as a real money casino would throw your way, such as having to confirm your identity, having to wait days to get your winnings, et cetera. Our advise is to support only those that truly understand what bitcoin is all about. Forget the stupid big companies that got into it just because it’s the next big thing without understanding why!
Best bitcoin casino bonuses
Many casinos offer new users some very attractive bonuses in order to lure them to join. Be sure to take advantage, and test a few different casinos before making your pick. However, a word of caution: the best way to get banned at an anonymous casino is to abuse bonus terms – if a casino only allows you to have one account, do not make more. They will catch you and ban you as soon as you request a withdrawal – or hopefully sooner if the place is honest. Attempting to claim a sign up bonus multiple times rarely works, it is probably not wise to attempt it – a better strategy is try to bargain live chat people for bonuses before depositing. And the longer you have been a customer, the better it works! 😉
Are you new to Bitcoin?
Did everything we just wrote go a little bit over your head? If you have no idea what bitcoin is, we suggest you first familiarize yourself with the concept before attempting to buy or deposit any to a casino. Head over to https://bitcoin.org and the bitcoin wiki, possibly the bitcointalk.org forum as well, do some reading, and then come back!
Hopefully this article has been helpful to you in choosing the best bitcoin gambling site. If you have any questions or wish to contact us, head over to this page.