Where and How to Gamble With Bitcoin?

Cryptocurrencies today are firmly integrated into the online gambling industry and Bitcoin gambling is a new trend. The craze for electronic peer-to-peer payment systems in this area began a couple of years ago and before that only a small number of gambling services. Cryptocurrencies as a digital means of payment do not require the provision of personal data, allow to make payments much faster, do not limit the amount of the transaction, significantly reduce the lower threshold of payments.

Many professionals in this field, including owners of large gambling services, predict that soon cryptocurrencies will completely absorb the online gambling industry. This is also due to the fact that, in addition to the above features, cryptocurrencies and blockchain technology weaken the influence of regulators. They make their role less and less relevant for gambling services, freeing them from the impact of various government decrees, including those that block payment systems.

The advantages of cryptocurrencies and BTC betting in the industry are obvious, and more and more major players in this market are beginning to consider the use of this digital means of payment within their services on a permanent and mandatory rather than optional basis. Such a trend could not but lead to the emergence of various projects in this area.

Bitcoin gambling is a relatively new thing in the online casino industry. It is considered to be completely legal and unregulated in most parts of the world, thus making it a perfect option for players from all around the globe.

Recommended casinos for BTC gambling

We have compiled a list of the best crypto casinos for Bitcoin gambling. Have a look at these casinos and if you are interested in more click the “Read More” button.

BitStarz

BitStarz Review – Is This Casino Good?

Deposit Bonus

100%

Sports Betting

No

Free Spins

150

Games

9/10

Vip Club

Yes

Unique Feature

Giveaways

mBit

mBit Casino Review – Top BTC Casino

Deposit Bonus

110%

Sports Betting

No

Free Spins

300

Games

9/10

Vip Club

Yes

Unique Feature

mBit races

Rabona

Rabona Review – A Nicely Polished Casino

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

Yes

Games

8/10

Vip Club

Yes

Unique Feature

Card Collection

PlayAmo

PlayAmo Review – A Perfect Global Crypto Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

200

Games

4/10

Vip Club

Yes

Unique Feature

PlayAmo App

CloudBet

CloudBet Review – The Best of The Best?

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

9/10

Vip Club

No

Unique Feature

60+ Markets in-play

FortuneJack

FortuneJack Review – A Pioneering BTC Casino

Deposit Bonus

110%

Sports Betting

Yes

Free Spins

300

Games

9/10

Vip Club

Yes

Unique Feature

FortuneJack Coin

BAOcasino

BAO Casino Review – 1500+ Games!

Deposit Bonus

100%

Sports Betting

No

Free Spins

130

Games

8/10

Vip Club

Yes

Unique Feature

Drops & Wins

7bit

7Bit Casino Review – Things to See and Games to Play

Deposit Bonus

100%

Sports Betting

No

Free Spins

100

Games

8/10

Vip Club

Yes

Unique Feature

Welcome Race

TrueFlip

TrueFlip Review – Classy Dolphin Casino

Deposit Bonus

150%

Sports Betting

No

Free Spins

50

Games

9/10

Vip Club

No

Unique Feature

TrueFlip Token, TrueLab Games

Betchain

Betchain Casino Review – A Casino With The Most Partners

Deposit Bonus

100%

Sports Betting

No

Free Spins

200+

Games

9/10

Vip Club

Yes

Unique Feature

4 Back-to-Back Bonuses

Bitcasino.io

Bitcasino.io Review – Licensed and Reliable BTC Casino

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

100

Games

6/10

Vip Club

Yes

Unique Feature

5 Coins

Black Chip Poker

Black Chip Poker Review – A Top Rated Poker Room

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

4/10

Vip Club

No

Unique Feature

11 Bonuses

Unique Casino

Unique Casino Review – Is It Really That Different?

Deposit Bonus

100%

Sports Betting

No

Free Spins

20+

Games

9/10

Vip Club

Yes

Unique Feature

Bonus on every deposit

King Billy

King Billy Casino Review – Awards Galore

Deposit Bonus

100%

Sports Betting

No

Free Spins

200

Games

7/10

Vip Club

Yes

Unique Feature

Multilingual Platform

Intertops

Intertops Review – Is This BTC Poker Room for You?

Deposit Bonus

200%

Sports Betting

Yes

Free Spins

25

Games

6/10

Vip Club

No

Unique Feature

Free Software

Stake

Stake Review – 40+ Sports to Bet On

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

8/10

Vip Club

Yes

Unique Feature

Weekly Jackpot

Bitcoincasino.us

Bitcoincasino.us Review – A Place Designed for Americans

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

75

Games

2/10

Vip Club

No

Unique Feature

3 Welcome Bonuses

ThunderPick

ThunderPick Review – Competitive eSports and Sports Odds

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Gift Card Giveaways

YaPoker

YaPoker Review – Paradise for Latino Americans

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

No

Unique Feature

Multilingual Support

Bspin.io

Bspin.io Review – A Fully Bitcoin Powered Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

60

Games

2/10

Vip Club

No

Unique Feature

Bitcoin Value Weekly Cashback 

CasinoFair

CasinoFair Review – A Blockchain-Friendly Platform

Deposit Bonus

200%

Sports Betting

No

Free Spins

No

Games

1/10

Vip Club

No

Unique Feature

FunFair games, FUN token

22BET

22Bet Review – A Place for BTC Bettors

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

10/10

Vip Club

No

Unique Feature

Multiple Payment Options

Sportsbet.io

Sportsbet Review – BTC Sportsbook Welcoming Americans

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fantasy Sports

KingBit

KingBit Casino Review – A Fully Crypto-Powered Casino

Deposit Bonus

110%

Sports Betting

Yes

Free Spins

No

Games

3/10

Vip Club

Yes

Unique Feature

Virtual Sports

CryptoThrills

CryptoThrills Casino Review – A Small But Worthy BTC Casino

Deposit Bonus

255%

Sports Betting

No

Free Spins

112

Games

1/10

Vip Club

No

Unique Feature

Daily Deal Bonus

Betcoin.ag

Betcoin Casino Review – A Casino and Sportsbook in One

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

10

Games

1/10

Vip Club

Yes

Unique Feature

Sportsbook

Betonline.ag

Betonline.ag – BTC Casino for USA Players

Deposit Bonus

Yes

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fast Deposits

TeleVega

TeleVega Casino Review – A Self-Proclaimed People’s Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

250

Games

6/10

Vip Club

Yes

Unique Feature

VIP Program

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Why Gamble With Bitcoin?

Bitcoin gamblingFor those who have never used Bitcoins before, you may be wondering and most likely you will have a question: why gamble with Bitcoin and replace fiat money such as dollars or euros with some incomprehensible currency, which can not even be felt? It is a very legit question, because like paper money Bitcoin and other cryptocurrencies exist only digitally. So what makes them so unique and attractive to customers? You may also ask why you would use Bitcoins for gambling.

These are reasonable questions, and we will try to explain them as best as possible.

 

Easy to Buy

bitcoin online gamblingBitcoins can be purchased for a fiat currency, such as the US dollar, as well as for any other cryptocurrency. A lot of people think it is very difficult. it may seem intimidating, but it’s pretty easy to buy it anywhere in the world.

The easiest way to buy Bitcoin is to use an online exchange that supports a credit card payment and/or bank transfer. Naturally, it is recommended to use a reliable platform, before you start gambling with Bitcoin but there are many others if a particular service does not meet your needs.

Registering a Bitcoin wallet is an important thing. Most of the users use the Blockchain wallet because of its simplicity and authority. Registration is simple, and you can also use the mobile app available on Google Play for Android devices or in the App Store for Apple devices. So purchasing does not require a lot of effort.

Decentralization and Anonymity

online bitcoin gamblingAnother important reason for interest in bitcoin is its decentralization. It does not depend on any government body, organization, or bank. In fact, bitcoin is completely anonymous.

Each transaction you make contains only information about the sender’s and recipient’s addresses. The address in this case is just a set of numbers and letters, it in no way discloses the user’s data. This means that when you gamble Bitcoin no one but you will know about your money and will not be able to tell you how to use it.

 

Fast Transactions

It’s the fastest currency to use when gambling, this is especially true when you want to withdraw as it takes a few minutes with BTC, while it may take days with traditional money.

online gambling bitcoinThe speed of transactions depends on several factors. It should be taken into account that all transactions should receive confirmation from miners in the Blockchain. If there are too many transactions in the check queue, your transaction may not be in the current block.

The speed of transactions is also affected by the size of the blocks. Currently, the size of blocks in the Bitcoin protocol can not exceed 1 MB, although many are trying to find a way that would allow circumventing this restriction. However, Blockchain gambling is another thing that protects users.

Each block can contain only a limited number of transactions. As a result, it takes longer to obtain confirmations, and the entire network slows down. Sometimes the speed of transactions depends on the blockchain operator you use.

Most Common Crypto

online gambling with bitcoinSince its inception in 2009 Bitcoin managed to gain a foothold as the world’s most popular and used cryptocurrency. This in its turn had a direct impact on online casinos. Every crypto casino supports Bitcoin, making it the most versatile. Plus there are sometimes promotions for BTC deposits.

A lot of people wonder why BTC is still the most popular cryptocurrency in the world. What distinguishes Bitcoin and other digital assets? First of all, it is the first crypto in the world that revolutionized the financial market. Before 2009 none of the cryptocurrencies existed in the world and Bitcoin said “the first word” in the cryptocurrency market and online Bitcoin gambling. Furthermore, the use of blockchain technology and the opportunities provided by BTC make this digital currency a leader among crypto enthusiasts until now. In addition, the high value of this asset is of interest to people working in traditional markets.

How Does Gambling With Bitcoin Work?

At first gambling with Bitcoin may seem alien to a lot of people who are involved in the online casino industry. It is natural because the essence of crypto gambling carries a lot of peculiarities and features that are very hard to catch at a first glance.

Basically, there is no huge difference from the usual casino games. Everything works the same way but we should also note that the speed of transactions is visible. You do not have to wait for a lot of time for your funds to be available on your account.

We are going to talk about the main points concerning online gambling with Bitcoin which are:

  • Deposits
  • Withdrawal
  • Exchange

Deposits

Depositing on your crypto casino account is a simple job. Some people think it is a hard task to accomplish but nothing is very complex and all you have to do is to follow instructions.

First of all, you need to have a crypto wallet. It could be either hot or cold. Hot wallet cryptocurrencies are wallets with an active online connection i.e. the one that is directly connected to the Internet. A cold wallet is a wallet unconnected to the Internet.

The next step that is essential to do is depositing fiat money, which as we have already mentioned above is traditional money. It could be exchanged for BTC. In most cases, the commission fee does not exist, which means that you do not have to pay extra for conversion.

The next thing is copying a QR code or the BTC address of the casino. Of course, it is different in Bitcoin gambling sites. So you should pay thorough attention to this.

The final step is sending the payment and providing the verification ID. The steps that we have mentioned above may seem complex but once you do this in practice everything becomes simpler.

Withdrawals

Depositing and withdrawing into a bank account takes up to three business days, and the bank can block the payment if it links it to the gambling site. But processing the transaction in cryptocurrency will take less than a minute. This is another huge advantage that Bitcoin gambling provides to customers. You do not need to wait for your money to be available in your wallet for a lot of time. Everything happens instantly.

To withdraw your Bitcoin earnings all you need to do is to have a verified Bitcoin wallet. As has been mentioned above it could be any wallet that you trust the most. BTC gambling sites can also offer their ones. Keep in mind that there are a lot of wallets that are dishonest and do not provide any kind of security.

Exchange

Some casinos allow you to deposit BTC, but then expect you to exchange it into either their local token or into mBTC. It’s usually no commission to exchange. Because of the fact that numerous cryptocurrencies are created every time online casinos allow their customers to exchange them for the currencies that they want. It is not a surprising fact. Cryptos are very volatile and they change all time. Keep in mind that withdrawals will still work in BTC regardless.

At the same time, it is always a good idea to stay away from exchanging your currencies. Bitcoin is the most popular and prevalent cryptocurrency that exist in the world at the present time. It has the highest value. Always keep and maintain it as your main currency for BTC online gambling sites, even though you might want to exchange it for another currency

Pros and Cons of Gambling with BTC

Of course, there is no such thing in the world that has only a positive impact. Gambling with BTC has its own advantages as well as disadvantages. Like in traditional money there are certain things that you should always keep in mind and we will explain them in details:

Pros Cons
Fast and Efficient Transactions Riskier Than Fiat
Lots of Games Low Variety
Potential to Make More Than with Fiat Potential Unsafe Options
Counts as an Investment

Pros

For the pros, we can say that it is the speed of transaction, the possibility of earning more, and a wide array of different games. We will go each one step by step.

Transactions

Sending BTC requires access to open and closed keys associated with the required number of Bitcoins. When we say that someone has Bitcoins, we actually mean that that person has access to a pair of keys consisting of corresponding to it a unique closed key that authorizes sending somewhere else BTC, previously sent to the aforementioned open key.

Open keys, also called Bitcoin addresses, are a random sequence of letters and numbers that works in the same way as an email address or username on a social network. The concept is the same for Bitcoin online gambling. They are public, so you can share them with others without fear. In fact, you should give your Bitcoin address to others when you want them to send you BTC. A closed key is another sequence of letters and numbers. However, private keys, like passwords to email or other accounts, should be kept secret.

It should be said that when we talk about Bitcoin transactions they’re fast and they’re cheap. Usually, transactions do not require an additional commission fee and everything is safe.

Games

It is not a novelty that casino game developers make thousands of games. The competition is huge so there is always a race among developers to create a game that will surpass another. This is also the case for Bitcoin games. Even though their number is significantly lower than their regular counterparts step by step we also see an increase in this regard. When we talk about online gambling Bitcoin and games’ variety it is usually about Bitcoin slots, because this is the game that has the highest amount of players.

At the same time games like poker, blackjack and roulette are also offering players the chance to gamble with Bitcoin. They also own variations and a player is free to choose any of them.

Furthermore, a lot of Bitcoin games are so well-designed that their gameplay excels the one in traditional online casinos. The gameplay is another factor for choosing Bitcoin games and with time more games are anticipated to be created primarily for Bitcoin.

Making More

The cryptocurrency market is famous for its volatility. Undoubtedly, it is this trait that makes it so attractive for all people to get a quick and solid profit. Casino players are no exception in this regard but little do they understand how much they can earn with Bitcoin.

Besides other advantages in gambling Bitcoin, the latter also is a very volatile cryptocurrency – like the other ones. Volatility is something that has both its pros and cons – depending on the situation. Usually, Bitcoin has a tendency of going up most of the time. When it comes to crypto gambling, players can be sure that they are likely to earn more. For example, after like a week of gambling, the crypto exchange can go up and the players can make even more without realizing it.

To put it simply, let’s just provide an example. Imagine you deposited Bitcoin worthy of $100 into your account. You are gambling for a month and suddenly realize that the $100 you deposited now equals $1000. This means that while you were gambling, not only you managed to earn more, but also the exchange went up and the money rose 10 times more.

With traditional money, unlike BTC gambling you cannot do so, because they remain the same. It is the essence and huge advantage of Bitcoin that encourages a lot of people to try crypto casinos.

Investment

BTC has the potential to grow a lot and can act as an investment even after gambling. In the world, the attitude to cryptocurrency is ambiguous. Despite the high profitability, assessing the investment qualities of bitcoin requires a balanced approach.

The price of 1 Bitcoin as of December 2020 exceeds $20,000. And it shows no signs of slowing down. Even though in 2020 it had a difficult period and at some point fell below $4,000 the situation is different now. Even if a person abandons gambling and decides to use it as an investment tool it is a perfect choice. Bitcoin is the money of the future, an asset that will only conquer the financial industry more.

We can say the same about other cryptos as well, but none of them come closer to the power of Bitcoin. And the latter is truly recognized as the king of cryptocurrencies.

Safety

Another thing that sometimes is a problem in traditional online casinos is the security service, which can block your account at the slightest suspicion of fraud. Sometimes it is enough to accidentally get to the same table with fraudsters who launder the money obtained by criminal means to permanently lose access to the account. Security will block your account and freeze (in favor of the casino) funds on it.

In cryptocurrency casinos, the probability of blocking your account due to suspicion of the origin of funds is negligible. Thus, one of the key properties of Bitcoin works perfectly in crypto casinos – the user’s money belongs only to player and no one else.

Cons

One of the main risks of Bitcoin gambling is a high risk, limited choice of websites and potentially unsafe operators.

Risk

One of the main disadvantages of Bitcoin gamble is the fact, that it carries a lot of risks when we compare it to fiat money. Because of its volatility, the value of the cryptocurrency can change by 15-20% per day. Therefore, the player or casino may find themselves in an imbalance regarding fiat money. That is why some gambling operators prefer more stable currencies.

The cryptocurrency market is unstable because it is in the formative stage. It requires special knowledge and skills that are often incomprehensible to players. While high volatility may seem attractive to customers, there are many gaps in this entirely new area.

To explain things easy we can imagine a situation when person put for example 1 BTC on his account. If he keeps it too long there is a probability the price of the cryptocurrency will fall after some time. And he will actually end up losing money gambling with Bitcoin. If it is $1000 and turns $900 then it is a losing situation.

In contrast everything is easy and simple with fiat money. You are sure that if you deposit $100 it will not lose its value – at least for one month. But with crypto 1 month is a really big period.

Low Variety

Bitcoin casinos as we have already mentioned does not have much experience. The first licensed Bitcoin casino in the world was created back in 2014. So it has been in the arena for 6 years, which really is not a long time. After that period more and more casinos started showing up and the competition is high.

Even though there are lots of Bitcoin casinos, there are more fiat casinos, so the variety is much lower. If you were to compare both of them, you could clearly notice the difference. It is 2-3 years since casinos started adopting Bitcoin gambling. The main part of online gambling establishments still accept traditional money and it is extremely difficult for Bitcoin casinos to compete with them.

However with proper research customers can find a lot of trustworthy and reliable casinos in the industry, in spite of the fact their number is low. Limited choice in crypto casinos frequently hampers players.

Potentially Unsafe

Bitcoin has long been a subject of regulation from various governments. Even though some of them managed to get some legal framework, in most of the parts the cryptocurrency is still unregulated. We can say the same about Bitcoin gambling as well. The latter is not very clearly regulated, so there may be some dangerous websites looking for customers to dupe. You may find out the license issued by Curacao government but in most places, such regulations do not exists.

As for websites, you might end up being deceived by a fraudulent company. Bitcoin has been in the existence for almost 12 years. It is still a fresh thing, as well as, gambling with BTC. Most Bitcoin casinos try to disguise themselves as authentic ones, but actually, when you decide to withdraw your earning, there could be problems regarding it. So when we say unsafe, we basically mean not being deceived by such entities.

However, nothing is as dreadful as it might seem at first glance. We have a large list of best Bitcoin gambling sites operating in this field. One of such casinos is PlayAmo, which is well-known in the industry with its modern approach, numerous games, and customer-oriented system. You should always check reviews by high-authority websites as well as read reviews to make sure you are choosing the right one.

The Bottom Line

Bitcoin is rapidly growing and it is easy to use. Bitcoin is fairly considered the money of the future. It is destined to replace traditional fiat money sooner or later. Furthermore, if it is a crypto casino, then you can be sure that it will accept Bitcoin. Hundreds of casinos have already adopted Bitcoin as a method of payment.

Bitcoins are the safest form of online payment in the world. All transactions are 100% protected from hacking or identity and financial data theft. At the same time, any person always maintains anonymity during gambling with the help of crypto.

Bitcoin is a very volatile currency and it changes all the time. It gives players the potential to earn more money in the future. Apart from gambling with BTC, it is like an investment tool that is gaining a foothold in the casino industry.

Bitcoin can be withdrawn without additional commissions. Transactions are instant and you do not have to worry about the execution. Also, the minimum deposit in cryptocurrency online casinos is only 0.0001 BTC;

Bitcoin is a decentralized currency. Only the owner of a bitcoin wallet can control his crypto assets. The government cannot tax you.

As time goes more and more online casinos are adopting various cryptocurrencies to their platform. Some are entirely focused on playing with Bitcoin but also the ones that accept fiat money are determined to bring forward playing with cryptocurrencies to their users, which is a good trend

Developers are making more games that feature crypto and this is another huge advantage. These games have nice gameplay, a good atmosphere, and what’s more ease of using Bitcoins.

Bitcoin gambling allows you to play and receive winnings only in cryptocurrency. No other payment funds are allowed – only Bitcoins. However other cryptos are also becoming popular in the field of online casinos.

FAQ on Bitcoin Gambling

How does Bitcoin transaction work?

To send bitcoins to anyone, you need two things: a Bitcoin address and a private key. It is not necessary to draw analogies between a bitcoin address and a bank account – there is little in common between them. In particular, there is no need to fill out a pile of papers and provide any documents identifying you to open a bitcoin address. In fact, they are created arbitrarily and are a random sequence of letters and numbers. A private key is also a sequence of letters and numbers, but unlike your bitcoin address, it is kept secret.

Your bitcoin address can be presented as a transparent deposit cell. Anyone can look into it, see what’s inside, but only those who have a private key can open and pick up the contents.

Is Bitcoin gambling legal?

Yes! Most countries allow Bitcoin gambling without any issue. There are no countries that ban Bitcoin gambling specifically, but some may have laws against gambling in general, which then subsequently affects crypto gambling.

The legality of Bitcoin casinos should be determined by operating such factors:

  • The legality of Bitcoin-gambling in the territory of a particular state.
  • The ability to organize game locations in the chosen country.

As for Bitcoin currency itself, virtual money is allowed in all countries where the gambling market is thriving (more than a hundred countries). The use of electronic currency is strictly prohibited only in Pakistan, Bolivia, Macedonia, Bangladesh, Algeria, Vietnam, Saudi Arabia.

We should note that as we speak about Bitcoin gambling, we cannot neglect Bitcoin casinos. Licensing of any form of business activity is carried out in order to process transactions involving banking systems. Since the bank does not participate in Bitcoin casinos as an intermediary, permission for such entities is not necessary. However, there are a few “buts”:

  1. First, the legality of bitcoin casinos does not raise questions only if the system uses only virtual currency in operation (any other currency to pay bets and withdraw winnings are not allowed). In fact, such an institution is not controlled by any of the existing banking institutions and other specialized institutions. Services that use bitcoin as an additional means of payment do not fall into this category and are subject to a standard licensing procedure.
  2. Secondly, the legality of bitcoin casinos is a demonstration of the status and reliability of the institution, as the leading providers of gambling content cooperate only with officially licensed enterprises.
  3. The legalization of bitcoin casinos can be carried out in any of the existing jurisdictions issuing gambling licenses.
What are the signs of the best Bitcoin gambling site?

There are few things you should take into account that makes Bitcoin gambling site a prominent one:

  • Variety of games – Bitcoin casino is great if it offers to customers a wide range of gaming options. The more famous developers and their products are available on the website – the better for a customer.
  • Bonuses – Players love bonuses. They are one of the most pivotal factors for choosing a Bitcoin casino. Whether it is a deposit or a no deposit bonus (even though customers prefer the latter) – if it is available and players get something more when they deposit cryptos, then a casino is worth your attention.
  • Customer support – Resolving client’s issues, when they are dealing with problems should be a number one priority for every Bitcoin casino. This service, in the ideal case, should work all the time.
  • The simplicity of withdrawal – There have been cases where players had problems withdrawing their money. It should not be complicated and a casino should offer the opportunity of different wallets.