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Bitcoin casinos are on the raise! Thanks to trustworthy security protocols, small fees and user anonymity, Bitcoin or the BTC is rocking the casino world. It has been picked up by many famous brands and it is now probably the best payment option at USA online casinos. There are two types of Bitcoin Casinos: the ones purely based on Cryptocurrencies and a second group that simply integrated. Bitcoin Casinos are online casinos that allow you to deposit and withdraw using the cryptocurrency Bitcoin. Some online casinos allow you to wager using Bitcoin. However, it is more common for your Bitcoin to be translated into its equivalent value in a more traditional currency.

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Money has been around for a long time, as a way to represent value in order to exchange goods and services. At one time, people traded goods directly, the barter system, but that wasn’t very efficient. Most often the parties would have preferred something else in the trade besides what was being offered.

Then the idea emerged to use precious metals to trade for, which had intrinsic value and therefore could be traded for other goods. So if someone was selling something and wanted something else, they no longer had to depend on the buyer of their goods having what they wanted in exchange, they could instead ask for gold or silver for it, then use this to exchange for what they did want.

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So currency was invented, and later, the currency no longer needed to have any intrinsic value, provided that it was widely acceptable. Governments declared this currency legal tender, substituting the paper for something that did have intrinsic value, gold for instance, and now we had money.

Later, it was decided that money did not have to be backed by anything, its value laid on the demand for it and its universal acceptance. Different countries had their own currency which was then traded between people, determining its relative value against one another. So now we have modern currency.

Money eventually became recorded digitally, and most of the money exchanged these days is of that format, being transferred from bank accounts and credit cards between people. We still use paper of course and this digital money is still represented by paper, although this paper is often not exchanged.

So someone got the idea to create a pure digital currency, existing only in the cyber world, and allowing ownership of it to be transferred digitally. So the idea of bitcoin was born.

The Appeal of Bitcoin

Governments go to great lengths to manage the value of their currency, but this would be a completely free market instrument, being traded at whatever level the market dictated, which depended on the supply and demand of bitcoin itself. Not being a universal currency, this supply and demand has fluctuated quite a bit, and therefore isn’t anywhere near as stable as so called hard currency, but has still remained popular throughout its relative infancy.

There are quite a few people who have been taken both by the idea of using a digital currency, a cooler currency perhaps, as well as using something that is off the grid, out of the control of governments. This can be perceived as a currency of the people, pure and simple, free from any official manipulation.

This manipulation though does serve to stabilize it for the most part though, so it’s not all bad, but given the fact that we do now have the means for purely computerized money, bitcoin is certainly an interesting concept.

Another feature of bitcoin is that it does not require third party management to conduct transactions through a bank. Transactions are performed directly between parties, which some people find very appealing. Being off the grid, bitcoin also offers benefits of privacy, where what you have isn’t a matter of record, records which can be accessed, including by governments.

Bitcoin also has the benefit of lower transaction costs, especially compared to credit cards.

Bitcoin Gambling

With bitcoin gaining in popularity, some online casinos have begun taking it as deposits. So instead of depositing in dollars through a bank or credit card, which is also through a bank but with a different payment means, players can now deposit their own money so to speak, in bitcoin.

These casinos not only accept deposits in bitcoin, you can actually make bets in bitcoin, and therefore this isn’t just a matter of converting your bitcoin back and forth to hard currency, which a lot of players find desirable. That would to some degree defeat the purpose of bitcoin, as users want to transact outside the grid completely, and they are permitted to at these casinos.

So bitcoin players can experience all of the fun and excitement of playing at an online casino while using their preferred currency. Bitcoin has expanded beyond casinos now and other online gambling games such as poker now accept it at select online establishments, although it’s generally easier to play casino with this, as you aren’t limiting the field to bitcoin players as you would with poker, as long as the house takes it at a casino you are all set.

Playing casino games with bitcoin does limit the amount of choices you have as most online casinos do not accept it at this time, but there are more than enough that do in order to offer bitcoin players more than enough selection. You only really need to play at one casino and there are far more than one of these out there, to put this into perspective.

Should bitcoin become more popular, we’ll see more online casinos accepting it, but for now, there’s plenty to choose from if you are looking to gamble with bitcoin.

How Bitcoin Works

Bitcoin is difficult to understand simply because you have grown up and have grown accustomed to using currency that is tangible and able to be physically exchanged. Coins and dollar bills are so engrained into our lives that to hear about a currency that exists only on the internet is something that confuses everyone.

Bitcoin was created by a mysterious man who is still unnamed. The individual bitcoins are mined online and though this may seem confusing, all you need to understand is that there are a finite number of bitcoins that are in circulation or will ever be in circulation. The coins are exchanged online in much the same way that you exchange money via Paypal or any other e-wallet. It is really quite simple and straightforward, but the fact of the matter is that it really is easy to understand.

How You Can Trust It

The biggest complaint you hear with relation to Bitcoin is the fact that it cannot be trusted. People tend to have a lot of skepticism when it comes to anything having to deal with money and the internet, and Bitcoin is no exception.

Bitcoin is able to be trusted due to the way in which transactions take place and how they are viewed. Unlike bank transfer and any other traditional form of transferring money, bitcoin transactions are made public for everyone to see. Even the smallest bitcoin transactions are posted. Knowing this, you might wonder why anyone would want to put their personal and financial information out there for everyone to see. In all reality, though every transaction is posted, the people who took part in each transaction are kept anonymous. So while you may be able to see the amount of money that was transferred, you will never be able to know who actually took part in those transactions.

Bitcoin also employs cryptology, which is a very fancy method of security similar to what is employed by the largest banking institutions in the world. No matter what you hear, Bitcoin is easily one of the safest methods by which you can transfer funds.

The one thing that you must be aware of is that Bitcoin is volatile relative to traditional fiat currencies. While US Dollars and Euros see their value altered on a day to day basis, bitcoins can see their value change dramatically in only a single day. Over time, the day to day movement of bitcoins has not been quite as dramatic as it once was. While this is definitely something to be concerned about, you have to understand that Bitcoin is more stable now than many other currencies.

Bitcoin FAQs

If one Bitcoin is worth several hundred dollars, how can I ever gamble with them?

If bitcoins are worth several hundred dollars, it may seem like bitcoin gambling is reserved for people who are wealthy. While that may be true, bitcoins can be bought in fractions of a bitcoin, meaning that anywhere from $10 to $10,000 can be purchased and utilized.

Can I get my money back when dealing with Bitcoins?

If you happen across an unscrupulous character and also give them money via a Bitcoin transaction, the sad truth is that you do not have any way of getting your money back. This is something that you get with credit cards that you do not get with Bitcoins.

How quickly will Bitcoins show up in my player account?

Bitcoin would not be revolutionary if the deposits associated with them took days on end to process. The reality of the matter is that almost every Bitcoin transaction will show up in a matter of seconds such that you can begin playing in a matter of minutes. It is really the most convenient and, in many ways, the safest way by which you can fund a player account. What’s more, most online casinos are now accepting Bitcoin deposits.

Also read:

Welcome to BitcoinCasino.org – the premier guide for finding the best bitcoin casinos online. This website was built with the intention of providing bitcoin players with information about where to play, what to play and how to play. We have loads of reviews, tips and casino game guides guaranteed to enhance your bitcoin gambling experience.

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Introduction to Bitcoin

Bitcoin (BTC) is a digital crypto-currency that has exploded in popularity in recent years. Hitting the mainstream in about 2011, the currency is unlike traditional fiat currencies, like the US Dollar, Euro, and Pound Sterling, because it has no central bank and operates solely in the peer-to-peer marketplace.

The Bitcoin network first came into existence in 2009 and has since had a meteoric rise across the world. As of 2020, tens of thousands of businesses across the globe accept bitcoins, including some of the largest online retailers in the world. Billion-dollar computer retailer Dell and online furniture giant Overstock.com are just two of the biggest companies currently accepting bitcoins for purchases.

Bitcoin Online Gambling

Bitcoins can be transferred between users through bitcoin addresses, which are a series of numbers and letters that range from between 27–34 characters. In almost all cases, transactions are processed for free.

One of the most costly aspects of running an online casino, or any gambling site for that matter, is payment processing. Every time a player deposits using a credit or debit card, bank account, or e-wallet – such as Neteller, Skrill, or PayPal – there is a fee for using their service.

Many online gambling sites cover this fee and don’t pawn it off on their players, but some do for the cost onto their users. For those in unregulated markets, like the United States, customers are often saddled with withdrawal fees that can cost them 10 percent of their winnings.

Even if these sites include the fees associated with payment processing, it still hurts their bottom-line profits. They’ll have to compensate for the losses in the form of reduced odds, bonuses, or promotions for players.

This is one of the many reasons bitcoins are so attractive to online gambling operators. Deposit and withdrawals are free, effectively eliminating payment-processing costs. This allows sites to have a lot more money for deposit bonuses and other promotions, but most importantly – it allows them to offer the best payouts in the world for online casino gamblers.

Another aspect of Bitcoin that is so crucial is its decentralization and lack of ties to any government or bank. Funds can’t be seized or frozen in the same way that they could if they were held in a bank using traditional fiat currency.

This isn’t a big deal for those living in legal, regulated online gambling markets, but for unregulated or illegal markets – this aspect is huge. US online gamblers, specifically, have had their funds frozen several times over the past decade by the US Department of Justice.

Bitcoin allows players the ultimate control of their money and the freedom of choice to do whatever they like with their funds. They also offer near anonymity when gambling online. Most bitcoin casinos, at most, will ask for a player’s email address for password recovery purposes. The vast majority will not ask for personal information, like your name and address.

Types of Bitcoin Casinos

While I mentioned that the masses have adopted bitcoins in some fashion, they are still much less widely used compared to traditional currencies when it comes to online casino markets.

Online casinos that deal solely in BTC are the most common choice for players when browsing online bitcoin casino sites. However, several casinos that take fiat currencies are now beginning to adopt bitcoin as a deposit and/or withdrawal option.

Bitcoin Only

In comparison to bitcoin-only sites, casinos that accept both currencies will ask for a name and address at sign-up and typically ask for identity verification when players request a withdrawal. This, usually, entails faxing a utility bill or bank statement.

Bitcoin Cash Casino

If Bitcoin Cash is your flavour, you are in luck. You can now play casino games at select Bitcoin Cash casinos online. Check out our Bitcoin Cash casino guide to learn more and start playing.

Hybrids

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Most hybrid casinos will accept deposits via bitcoin and process withdrawals back to a bitcoin address of your choosing but will convert the funds to a fiat currency when you deposit. For instance, if you deposit via bitcoin at a hybrid casino, you will end up betting with a fiat currency, like Euros or US Dollars while the money is inside your account.

Where to Play

Thankfully there are now multiple Bitcoin enabled casinos to choose from that are both trustworthy and have great promotional offers. Whether you are looking for a Bitcoin casino in the UK, or a US friendly option, you can safely browse our site and find the one casino that fits your requirements and playing style best. We closely monitor the industry and make sure that we only recommend sites that are safe, user friendly and fair.

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Bitcoin Casino Games

Each successive year, there are more and more options for BTC casino gamblers. It is no fringe industry. Bitcoin casinos offer the same games as traditional online casinos, except with much better odds and free deposits and withdrawals. Bitcoin casinos have only been around for a few years, but they have already surpassed traditional operators in a number of areas.

Slots

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Casino gamblers love slots, and the BTC casino industry has them in large numbers. The best bitcoin casinos have dozens of slots on offer, with a host of options for players, including progressive jackpots. However, what should draw slot players to bitcoin casinos are their payout percentages.

The vast majority of bitcoin slots offer payout percentages higher than fiat-based online casinos and make land-based slots look like legalized robbery. Some sites offer payouts as high as 99% on some of their slots. For slot gamblers, there is no better option than bitcoins.

Blackjack

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Blackjack, the second most popular game behind slots, also is well represented in the bitcoin casino market. Players can choose from many variations of the game and, once again, will receive better payout odds than just about any fiat-based (online or offline) casino in the world.

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Roulette

One of the simplest games to understand, roulette is the most played table game behind only blackjack. BTC casinos offer many variations of the game, including American and European roulette. I hate to beat a dead horse, but again, players will be getting the best odds and will have as many or more options compared to fiat-based sites.

Live Dealer Casino Games

Bitcoin For Online Gambling

Live dealer casino games have exploded in popularity in the past few years. The trend has also made its way over to bitcoin gambling markets. Games like blackjack, roulette, and baccarat are available for live casino wagering at a number of bitcoin casinos. Live casino games will allow players to get right into the action with authentic casino environments that are being streamed live. It’s also a fun way to socialize with other players.

Other Games

The above games are the most popular choices for players, but bitcoin casinos don’t stop there. They offer the full assortment of casino gambling options, including video poker, three-card poker, craps, casino war, and a long list of other games. Dice and lottery games are also extremely popular and available at a large number of sites.

Provably Fair

Provably fair casino gambling is a breakthrough for not only BTC gambling but also gaming in general. It allows players to prove that they are getting fair odds on each and each and every bet or transactions. Using cryptographic hash technology, players can verify that the casino has no control of the random outcome of the wager.

Each game calculates provably fair differently, but the concept is becoming widespread across most major bitcoin casinos. Players can verify that a game is provably fair by entering bet ID numbers and other information that varies depending on the site.

Provably fair gaming is a revolutionary way for determining fair play because it is instant and foolproof. Players immediately know if they’re getting a fair shake, and every bet can be independently verified.

Contrast this to fiat-based online and offline casino games, and you’re looking at a night-and-day difference when it comes to verifying fair play. Gaming compliance studies and verification can take weeks or months when it comes to wagering with traditional currencies. Tens of thousands of hands need to be analyzed from each game. It’s a long and arduous process that takes plenty of time and money.

With Bitcoin and provably fair, game integrity can be instantly verified. There is no process or study that needs to be conducted on each site. You’re either getting a fair shake, or you’re not, and you will know immediately.

Bitcoin Gaming Licenses

Those who have bet online for years are used to seeing licensing seals on many of their favorite gambling sites. Depending on where the site is located and the countries they operate in, licensing requirements can vary wildly. Some regulatory authorities have strict requirements while others are merely interested in collecting licensing fees and offer little oversight.

Licensing is extremely common when it comes to fiat-based casinos, but few bitcoin-based casinos are currently licensed. This is more of a reflection of how new bitcoins to online gambling markets rather than the sites not being safe enough for regulation.

Licensing also isn’t as important as most players think. In many jurisdictions, there is little that can be done by regulatory authorities when there is a dispute between a site and a customer. In most cases, players are at the mercy of casino operators.

Even highly regulated authorities end up failing in their quest protect players. In 2011, after the US DOJ indicted PokerStars, Full Tilt Poker, and Cereus (Absolute Poker & Ultimate Bet) for UIGEA violations, they were forced to refund players’ deposits almost immediately.

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PokerStars processed the withdrawals in less than a week, but Full Tilt and Cereus had several delays before they were later found to be insolvent. At the time, Full Tilt was the second most populous poker site in the world and was licensed by the prestigious Alderney Gambling Control Commission.

In the end, players did receive their funds from Full Tilt (albeit nearly three years later), but those who had money at Cereus were out of luck. However, this goes to show you how even some of the best gambling bodies drop the ball.

There are going to be bad apples in every industry, and the same goes for bitcoin casino gambling. Players should do their research before transferring bitcoins into a bitcoin casino. Well-known sites with a long track record are crucial. Longevity is everything in this industry; licensing requirements mean little.

Bitcoins Casino Checklist

To help you pick an online casino to play at that lets you deposit and play using Bitcoins we have put together our easy to follow checklist below, simply make sure the Bitcoin casino you are playing at offers you most of the following and then you can play with complete confidence at that particular site.

Licensed – As mentioned above you should look for a Bitcoin casino that holds a full online gaming license, this is usually displayed on the casinos website, and whilst checking this look out for who has certified the casinos games. More and more bitcoin casinos are getting licences, but unfortunately a lot of them are still unlicensed. The fact that they do not hold a licence, doesn’t necessarily mean that they are not safe to play at. Read our recommendations on this site and you should be certain that you are playing at a safe and secure casino that accepts bitcoin.

Software – By sticking to the better known Bitcoin casino software platforms then you will be assured of fair games, ideally the Bitcoin casino should have a flash suite of games, a mobile casino site and even a fully downloadable casino platform, if it does then you will know that have made a large financial investment in their casino and as less likely to pull any stunts! As bitcoin gambling is evolving, more and more software opportunities are arising. As a result, you can now play with coins at some of the worlds highest rated and most popular software providers, including Playtech, Aristocrat Gaming, Softswiss, Microgaming and Betsoft.

Reputation – An online casino is only ever as good as the reputation it has acquired, and this is where often it will pay for you to research the Bitcoin casino you are thinking of playing at very carefully. Do a Google search for that site to see if any players have been messed around with that site. Also, check out our bitcoin casino reviews, as we research, test and write unbiased reviews of online casinos that accept bitcoin currency. Also, be sure to visit the bitcoin gambling section over at Bitcointalk.org for first hand experiences and reviews by the players themselves.

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Gamble Responsibly – Online gambling is meant to be fun, entertaining and possibly rewarding. If you ever feel that you are playing too much or losing control, or maybe just want to take more control over your gaming activities, we recommend reading our article on responsible gaming.

Understand Bitcoin – Before you just jump into playing at Bitcoin casinos make sure you are fully aware of how the Bitcoin system works and operates. You may need to spend some time researching it – learning how to buy and sell, using exchanges and bitcoin wallets, but when you do you will see for yourself just how reliable it is and how it is a perfect fit for online gaming.

For casino gamblers, the use of bitcoins is a game changer. Not only can they deposit and withdraw freely with near anonymity and without any government interference, but the odds available are the best on the planet. Throw in provably fair games to assure players that they won’t be cheated, and it’s easy to see why bitcoins and online gambling are a match made in heaven.