Bitcoin Gambling GuideSeveral factors can motivate a player to start gambling with bitcoin. They may have experience in online casinos, but are new to cryptocurrency, or vice versa. They could also have experience in both. Ideally, you should have some expertise in either gambling online or trading bitcoin. It wouldn’t hurt if you’re new in both fields, but it’d be a much longer road to profit.
The good news is, bitcoin casinos aren’t that much different from the regular ones. There are no special mechanics in terms of gameplay and payouts. You’ll only need to get used to the transaction process and the tiny digits on the screen.
Follow these simple steps, and you’ll be on your way to becoming a slick crypto player.
It’s also useful to know a little bit about BTC value and compare it against the average betting range of a casino. One whole coin is worth more or less 10,000 USD, so on a slot machine, you’re obviously not going to bet that entire amount.
Unless you’re an ultra high roller with thousands of bitcoins, you’d be betting in bits. These bits are the equivalents of a mid-range slot (up to $200 per spin).
Bitcoin Gambling SitesWhen looking for the best bitcoin casino, consider your region. Gambling with cryptocurrency is still illegal in the US, but popular in other places. If you live in a restricted area, the operators won’t show up on your search. Even when you do manage to find them, it would have to be under a proxy. Thanks to the anonymity of bitcoin, it’s perfectly sustainable to play that way.
SmartCasinoGuide provides you with the most comprehensive BTC casino list. Here are some of the best bitcoin casinos.
The above are only some of the best bitcoin gambling sites. There are hundreds of bitcoin casinos, each with different offers and bonuses. Keep in mind that regular casinos can also provide BTC payment. Read on to learn how to choose the right website for your wallet.
Choosing The Right BTC CasinoA lot of factors make up a great casino. In most cases, you want to look for a high degree of control over the transactional process. Top bitcoin casinos often have a long list of available cryptocurrencies, including BCH, ETH, and LTC. These units only differ in values and won’t affect what the casino promises to provide.
Welcome bonuses can make or break an online casino. Once you’re past the logistics, this is the threshold that will determine the quality of your experience. Bitcoin casino sites offer the same bonus systems as regular operators. You have the deposit match, reload bonus, etc. The point here is not to look for the biggest package, but the wagering requirements and max allowed bets.
In fact, the higher your bitcoin deposit, the less likely you’ll earn the welcome bonus. Every casino attaches wagering requirements to its bonuses. The requirements for the bitcoin deposit bonus are often very high. If you cash in for 5 BTC and get an extra 5.5 BTC while the betting condition is 35x in 14 days, it would take an unbelievable amount of betting to earn it.
Instead of trying to grab the tantalizing fortune, reach low. The top bitcoin gambling sites always set their wagering requirements at a reasonable rate. Of course, those will often come with smaller bonuses. Still, it’s better for it to be low but achievable than high but impossible.
Another thing you’ll notice when playing at bitcoin gambling sites is how strange their bonuses are. It’s not uncommon to come across rewards like 157% deposit, or 193%, or 105%. The house does this to protect itself against fluctuations. As a player, try to find a bitcoin casino bonus that offers even percentages, or as close to 100% as possible.
One of the strongest aspects of gambling with bitcoin is convenience. To qualify as convenient, a casino must have instant withdrawal for all players on any cryptocurrency. This is different from making deposits. When you first sign up, it could take a while for your BTC to process as there’s some verification to fulfill.
The first withdrawal often takes some time, but it should not repeat the delay in the future. If you find yourself waiting for more than a couple of days every time to withdraw, it’s time to find a new casino.
Pros And Cons Of Bitcoin GamblingGambling with bitcoin is certainly entertaining, but, like all things, there are upsides and downsides. Knowing what they are can help improve your experience in the top bitcoin casinos.
Handling payments with bitcoin is significantly less complicated than with other financial services. Since the bank isn’t involved, you reduce waiting time or identification issues. BTC is also not controlled by the government or banks, so you can use it anywhere and at any time.
Many players like to stay anonymous while gambling online. BTC casinos allow them to do that without extra costs. If anything, you can make a profit in the long run if the market goes up. It is worth mentioning that Bitcoin is not the fastest or the most cost efficient crypto out there. For example, Ripple or Tron are way more faster and their transactions costs less than 0.001 cent.
Players who are familiar with Welcome bonuses know those always come with max allowed bets. These are often pretty low compared to the wagering requirements you have to meet ($5 - 10$). With a bitcoin bonus, the max allowed bets go up, and usually by a lot.
For a bonus condition of around 35x, you can expect the max bets to reach up to 0.002 BTC, which converts to roughly $20. That’s 2-4 times as much as the cash prices. You also get higher max deposits and withdrawals. Depending on the casino, some players can deposit twice as much with bitcoin.
Most bitcoin gambling sites usually give you odd percentages as bonuses, and fluctuation is one of the reasons. That’s an inherent problem when using cryptocurrency. You don’t always know what the market will decide to do. The juicy casino bonus you got today may come out all dried up tomorrow. A good strategy is to keep your deposits low to reduce offset.
As convenient and secure as bitcoin is, it’s still not cold, hard cash. You can’t exactly withdraw your 6 BTC bonus and immediately go buy a car. Crypto is simple, but the conversion process is rather long winded. When starting to play at bitcoin casino sites, consider carefully what you’re willing to commit.
ConclusionBitcoin is definitely revolutionizing the online casino industry. No longer are the days where your every move is tracked by financial institutions and the IRS. It’s becoming more common every day to see a casino with bitcoin payment. Gambling anonymously with cryptocurrency is one of the rising trends among players.
While it’s definitely a great time to start gambling with bitcoin, it’s totally okay to stick with traditional methods. Even the best bitcoin casino won’t guarantee you no risks. You don’t just start playing better or getting luckier because you’re playing with BTC instead of cash.