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Best Bitcoin casinos
Best Bitcoin Casinos
Bitcoin is the most well-known and highest ranked cryptocurrency in terms of market capitalisation. Therefore, it’s no surprise that many casino brands and new crypto casinos have chosen to use bitcoin as their primary, if not sole, payment method.
Bitcoin is widely available at various exchanges, well understood, popular with those in the younger crypto-demographic and seen with a good deal of trust by those in the space, particularly due to the additional privacy it provides over cash transactions.
Casinos such as Bitcasino.io, BitStarz and FortuneJack, as well as many others, have all taken the best of the traditional online casino experience, replacing cash for bitcoin, as well as other cryptocurrencies, and they have seen considerable success in doing so.
CryptoGamblingNews.com has taken a look at what benefits are to be had when using bitcoin casinos like these, as opposed to traditional casinos or other blockchain or cryptocurrency alternatives.
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Why play at bitcoin casinos?
The igaming sector has seen a considerable change in attitude towards it in recent years. It is seen to be too one-sided by many in its skewed relationship with players in favour of the casino bottom-line and for far too long, players had little power when it came to levelling the playing field.
Fortunately, bitcoin and Satoshi Nakamoto’s vision led to a new order of a private payment that has since allowed for casino users to bring back some control over the house. When betting with bitcoin as opposed to cash, players don’t need to be tracked through the usual, often overly rigorous identity verification and monitoring processes.
Using bitcoin as a payment method ensures no third party is able to access information linked to your identity or source of funds. This may not always be the case with certain bitcoin casinos looking to be regulated, and if they chose to do so, KYC procedures may be more stringent.
Greater privacy using anonymous payment methods like bitcoin also allow players to play from anywhere, at any time. With online gambling only legalised in certain countries around the world, many people are either prevented from gambling and others in greyer jurisdictions can never be sure if their casual gaming habits are allowed by law or not.
For these players, bitcoin is the best option. Banks and other types of payment processors, who are more greatly bound by gambling legislation, will not allow individuals to fund their accounts in countries where gambling is banned. However, with the lack of third-party involvement, and direct relationship between house and player, millions of potential casino users can now find one that suits their needs.
One of the main reasons many players have struggled to trust online casinos in recent years is their chronic inability to pay players out correctly and on-time. All too often casinos take instant deposits but then only return winnings in a few days. Another imbalance that has led to the take-off of bitcoin casinos.
Players can send bitcoin directly, almost instantly to their chosen casino as they would at normal casinos. However, the major difference here is that when you win, and there’ll be plenty of chances to with the games some have on offer, you will be paid back in almost no time at all.
No more ‘three to five days’ of waiting for the casino to accept the withdrawal, the payment processor transferring it, and then your bank accepting it, and that’s forgetting that your bank may not even want to accept certain gambling transactions.
Yes, bitcoin transactions have somewhat slowed in recent years as the popularity of the underlying blockchain has increased. Despite this, we’re still talking minutes rather than days and this is a significant improvement that creates a faster, better casino journey for players.
One major advantage that bitcoin casinos have over smart-contract based alternatives is their range of gaming titles produced by the big-hitting game developers. Tier one online casinos can often have game portfolios of well over 1,000, covering the usual table games, slots and virtual sports.
Decentralised casinos tend to focus on simple, basic games that their blockchains can handle, but this needn’t be the case with bitcoin casinos where the bitcoin is used as a payment method and not the blockchain itself (other than for deposits and withdrawals). Therefore, the overall choice and quality of games at bitcoin casinos is almost certainly far higher than other crypto alternatives.
Bitcasino.io, one of the most popular bitcoin casinos around, currently offers more than 1,500 titles from developers such as Microgaming, Play’n GO and Betsoft. Players coming from traditional online casinos will instantly recognise some of these games and so the transition to betting with bitcoin is far smoother and recognisable with the same gaming experience available.
Similarly, many bitcoin casinos now also offer live casino which is seen as much fairer, as well as engaging to the average player. CloudBet.com are one such example, currently offering more than 25 live table games as well as more novel live games such as Monopoly Live and Deal Or No Deal, both produced by the reputable Evolution Gaming.
Players will notice the similarity between bitcoin casino aesthetics and that of the usual online gaming look and feel. It’s clear that both take the user journey seriously, with clear navigation, a premium colourscape and simple sign-up processes.
This can be an area that decentralised casinos and those more dependent on blockchain smart contracts fall down but players who have signed up to regular casinos will have no issue registering at the many bitcoin casinos around. Funding still requires knowledge of crypto payments and the requirement of a personal crypto wallet, but the casinos we’ve reviewed tend to be informative and educational to assist with setting these up.
Bitcoin casinos do tend to go above and beyond when it comes to rewarding player loyalty and registration. CloudBet currently offer “up to 5BTC” as a welcome bonus provided certain criteria are met. At time of writing this was the equivalent of over $40,000 and definitely raises eyebrows for new players looking for big wins.
VIP services are also common with some crypto casinos actively looking for those who want to stake win to win big. This service can offer dedicated account managers informing their VIPs of the latest offers, the newest games as well as many other high roller perks such as events and tickets.
Are they safe?
It’s always worthwhile doing your own due diligence at every casino you play at, and there’s always going to be illegal casinos around looking to scam using cryptocurrency. However, we feel that it’s pretty clear which are acting on your side and those who may have ulterior motives. Look out for licence logos such as from Curacao, transparent teams who talk openly in the media or on-site, or see what others think about the bitcoin casino you’re looking to play at on forums and sites such as ours.
How popular are they?
Very. Turnover across the bitcoin casino industry is massive. It’s hard to put a single figure on this but annual wagering in BTC is likely in the single digit billions based on various reports. With a new generation of ‘crypto-rich’ able to gamble large sums of money it bitcoin since the crypto boom, casinos are not short of VIPs, but are also targeting more and more casual players who may have lost trust in their previous fiat casino operations.
Bitcoin casinos continue to improve their offerings with experiences that rival tier one igaming companies in terms of games, bonuses and content, but with the added benefit of instant withdrawals and extra privacy, they’re going to become more of a threat as crypto adoption continues in the coming years.