With the rise of both online casinos as well as cryptocurrency adoption, it was only a matter of time before the two integrated. Players from around the world can now dabble in the highly entertaining and rewarding world of Bitcoin casinos regardless of where they reside or what payment services they have access to. In fact, there are a number more advantages to enjoy, discover them for yourself in this ‘How do Bitcoin casinos work’ piece.
What Are Bitcoin Casinos?
Since traditional casinos transitioned to the online space in the mid-90’s, the online gambling scene has taken off fast and furiously. While Bitcoin was launched in 2009, it wasn’t until 2014 that Bitcoin casinos started really establishing their space in the market. Since then, more and more crypto casinos have been launched, while more software providers have been creating Bitcoin specific games and platforms. Today, you can find a vast array of options within the Bitcoin gambling scene. So what are Bitcoin casinos exactly? They’re online casinos that allow players to use Bitcoin to gamble. Some casinos are built on blockchain technology and utilise smart contracts, while others merely accept Bitcoin as a payment and wagering option. We refer to both these types when we talk about Bitcoin casinos.
What Are The Advantages of BTC Gambling?
The innovation of BTC casinos has brought many exciting new features for players to enjoy. Playing with Bitcoin not only allows you to play anonymously, but also lets you play from wherever in the world you might be (note that some countries have not legalized crypto gambling, always ensure that you check in your area). Other advantages of Bitcoin casinos include:
- Faster transactions, no more waiting for third party payment methods to verify your deposit or withdrawal.
- Lower fees, Bitcoin’s transaction fees are minimal compared to fiat payment services.
- Smaller bets, BTC casinos allow players to bet in smaller amounts, attractive for beginners.
How Do Bitcoin Casinos Work?
Similar to a traditional online casino, the platform offers a range of games for players to choose from. The only difference is that instead of allowing players to play with fiat currencies like the US dollar and Euros, the platform allows players to deposit, play with, and withdraw BTC.
When registering, the casino will create an internal wallet as part of your account set up, and this will reflect the amount of money in your account. When depositing, players are given a unique BTC wallet address to send their deposit to, and when withdrawing will need to present the wallet address to where the funds must go.
To ensure that all games and outcomes are fair, many BTC casinos utilize a transparent system that illustrates the gaming outcome of every game, known as being Provably Fair. Players can usually find a link to this in the footer of the Bitcoin casino, or in the Help / Settings.
Examples of Bitcoin Casinos
While the crypto casino industry is packed with great online gambling platforms, here are 4 of the top Bitcoin gambling sites offering a secure, entertaining, and exciting platform. These are all provably fair Bitcoin casinos:
Launched in 2014, this top online casino not only accepts Bitcoin, it also allows players to play with Bitcoin Cash, Ethereum, Dogecoin, Litecoin, and several fiat currencies. Offering a huge range of 2,600 games from top software providers, BitStarz is not only highly entertaining, but trustworthy too.
New players are welcomed with 20 free spins just for registering, followed by a 100% deposit match up to 1 BTC plus 180 free spins.
Also established in 2014, FortuneJack is one of the most visited Bitcoin casinos to date. The platform offers an exciting variety of over 1,500 games as well as a sports betting option. FortuneJack is a crypto only casino, offering players the choice of playing with Bitcoin, Bitcoin Cash, Litecoin, Zcash, Dogecoin, Monero, Ethereum, Tron and Dash.
Offering 25 free spins to registered players (no deposit necessary), FortuneJack’s Welcome Bonus is up to 6 BTC plus 250 free spins over 4 deposits.
With a range of 5,000 games including a live casino, 7Bit is a very popular and well-liked Bitcoin casino. The platform allows players to play with fiat currencies and Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, and Tether. Also operating since 2014, 7Bit knows how to entertain their following!
New players can cash in on their 4-deposit Welcome Package, with the first deposit bonus of 100% match plus 100 free spins.
Another fantastic casino, also launched in 2014, is Betchain. Owned and operated by industry powerhouse Dama N.V, the platform offers over 2,300 games and a wide range of currency options. Accepting both crypto and fiat currencies, players can choose from Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Litecoin.
Dive Into The Exciting World of Bitcoin Gambling
Now that you have an understanding of how Bitcoin casinos work, you might like to test some crypto gambling out for yourself. Always check that the casino you’re playing on is Provably Fair (meaning that you can check the outcomes of games) and that it is legal to gamble crypto in your country. Then jump in and enjoy the many wonders of wagering (and hopefully winning) cryptocurrency!