In this guide we’ll discuss the pros and cons of gambling with Bitcoin, as well as taking a look at the ways you can gamble on everything from poker to casino games with this currency.
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Is it Better to Gamble with Bitcoin?
In truth, it’s all a matter of personal preference. We’re not going to tell you that it’s better to use Bitcoin than another method, because while it might be better for us or for the next person, it won’t necessarily be better for you.
It’s all a case of weighing up the pros and cons of Bitcoin gambling against other forms of gambling. In most cases, if you have Bitcoins and you trade in them, then it’s much more beneficial for you to gamble for real money with Bitcoins than to gamble with some other payment method. If not, then it may be easier to stick with PayPal when gambling online.
Hopefully this guide can help you to make up your mind.
Benefits of Gambling with Bitcoin
The main benefit of Bitcoin gambling is the fact that it is completely safe and anonymous. If you hear the word “anonymous” you might think that it doesn’t benefit you and only benefits those who have something to hide.
But you’re thinking about it the wrong way. When you deposit using a credit card or debit card, you’re giving sensitive financial information to someone, and with that information they could take all of your money and even your identity. With Bitcoins, this is not possible.
That’s why it’s so beneficial and why many people prefer gambling with Bitcoins.
Playing Slots with Bitcoin
The most common form of Bitcoin gambling is online slot machines. These are available in their droves and can be found on all of the biggest Bitcoin online casinos.
You will find many of your favorite slots from the likes of Playtech and Microgaming, but you’ll also find slots from the likes of BetSoft and Net Ent. Simply put, if you can play it with PayPal then you can play it with Bitcoin as well.
Playing Table Games with Bitcoin
Table games tend to be fewer in number than slot machines. But there are still many of them out there and you can play a lot of these with Bitcoins.
Most Bitcoin casinos have at least 1 variant of blackjack, roulette, craps, poker and Pai Gow, as well as many other popular games. You’ll also find some unique games that are exclusive to those casinos.
Unlike non-Bitcoin casinos, these gambling sites tend to offer something that you won’t find anywhere else. This is a great way for them to appeal to a highly competitive market and to help them to standout. It also ensures that the players they attract stick around and remain loyal, which is something that other online casinos struggle with.
Playing Poker with Bitcoin
There are very few online poker rooms out there that accept Bitcoin as a deposit or withdrawal method. They do exist, but you have to avoid the biggest poker rooms, and it’s a slippery slope once you begin to do that.
However, there are many poker variants available on Bitcoin casinos and these are often the best option. The most popular of these is Three-Card Poker. This is a very simple variant, and one that you can find on most online casinos. It is played against the house, as opposed other players. But just like any other game of poker it can be beaten if you know what you’re doing.
If you prefer to stick with games that you know from card halls and poker rooms then try your hand at games of video poker instead. These follow more familiar formats such as Five Card Draw, Texas Hold’em and Stud.
Video poker is not played against other players, but it’s technically not played against the house either. You are certainly paid by the house, but you’re not actually playing against them. Instead, you’re simply on a quest to get cards worthy of big wins. There are set payouts for all common poker hands, and the better they are, the more you can win.
Many of these games don’t pay for anything less than a pair and some of them pay a huge jackpot if you get a royal flush.
Sports Betting with Bitcoin
Bitcoin sports betting sites are even less common. The biggest sports books are the ones that have existed for decades, and the goal of these sports books is to appeal to as many players as possible. Because Bitcoin is not an easy option to offer, and because it’s just not very common, these sites don’t offer it.
There are a few specialist Bitcoin sports books out there. Just like all other Bitcoin gambling sites these tend only to deal in the cryptocurrency and don’t offer any other options. As a result, they tend to be very niche, but they are also growing bigger and bigger as Bitcoin becomes more popular.
Getting Bonuses on Bitcoin Gambling Sites
There are many bonuses available on online casinos. This is how they attract players and how they standout in a very saturated marketplace. For a normal online casino, they often have the same games and the same platform as hundreds of competitors, so bonuses are the only way they can make their product unique.
Bitcoin casinos are different. They are more unique already, as are the games and platforms. However, despite this, they still offer many big bonuses. In most cases, the bonuses you will find on Bitcoin casinos are actually bigger than the ones you will find on non Bitcoin casinos.
The most common bonus comes in the former of a matched deposit. This essentially gives you an extra percentage of your deposit amount for free. On most casinos the average matched deposit is 50% or 100%, returning $50 and $100 respectively from a $100 deposit. But on Bitcoin casinos it can be between 200% and 500%, turning that $100 into $300 and $600.
Using Bitcoin to Deposit
If you want to make a deposit with Bitcoin then the first thing that you need to do is download a Bitcoin wallet. This simple application needs to be stored safely on your computer and you should make a note of the unique Bitcoin Wallet ID that you are given when you download it.
Your next step is to purchase Bitcoins. There is no official source to speak of and you need to purchase them through an exchange, similar to the ways you would trade in other world currencies. You simply give them money in your chosen currency, give them your wallet ID and then wait for the money to be sent your way.
Once you have the Bitcoins then you’re good to go. Just signup to your Bitcoin gambling site of choice, make the transfer and then wait for that money to be converted into credits.
Using Bitcoin to Withdraw
With most payment methods it is very easy to deposit and a little more complicated to withdrawal. With Bitcoin, it’s the other way around. There are a few steps involved with depositing, as mentioned above, but when it comes time to withdraw you just need your wallet ID.
Once they have that they they know where to send your money. So, make sure you get this ID right. Double and triple check it.
You may also want to wait for a time when the value of Bitcoins is quite high. The price fluctuates all of the time, so keep an eye on it and then withdraw when it is high. That way you can essentially increase your winnings without playing anymore games.
Other Deposit and Withdrawal Options
On Bitcoin casinos there are usually no other methods available, just as there is no option for Bitcoin on casinos that have a number of available options. So, be prepared to use Bitcoin and Bitcoin only if you join one of these casinos.
Still have some questions about Bitcoin casinos and Bitcoin gambling in general? These frequently asked questions should be able to help. There is a lot to learn, a lot to discover, but we’ll try and help you as best we can.
Is Bitcoin Gambling Safe?
Bitcoin is one of the safest payment methods available. In fact, Bitcoin is the only common payment method out there that is also completely anonymous. When you use a credit card, a debit card or any other popular method, you leave a paper trail a mile long.
Not only can someone trace that payment all of the way, but if anyone accesses the payment or the payment details, then they can use them to steal money from you and even to steal your identity. This is becoming increasingly common in the modern age, but it’s something that you don’t need to worry about with Bitcoin.
Is Bitcoin Gambling Fair?
Whether a casino is fair or not doesn’t really have anything to do with the payment method being used. But Bitcoin casinos abide by the same rules and regulations as other casinos, which means that as long as they are regulated and licensed then you’ll be okay.
Just make sure you that you check whether or not the casino you’re dealing with is regulated and official. You should also make sure that the casino is audited and that you read the audit report. This will tell you how fair the games are, as well as other details about the casino.
Are Limits Imposed?
As with all casinos, there are limits when using Bitcoins. However, these tend to be much less restrictive than the limits you will find on other online casinos.
You will typically struggle to deposit very small amounts, such as €5 or €10, as the minimum amount is often a little higher. But at the same time, you are not restricted by low maximums or by limited withdrawals.
I’m a High Roller. Can I Get More Benefits?
Many of the benefits you can receive as a high roller on Bitcoin casinos are the same as the ones you will receive on other online casinos. These include loyalty schemes that reward you with everything from cash back to prizes and online tournament tickets.
However, with Bitcoin casinos you can also benefit from faster payments when dealing with larger amounts. Very high deposits and withdrawals are often subject to certain restrictions on online casinos. They may be held in review, they may be rejected altogether if the member is new.
On Bitcoin casinos that is not the case. There are higher minimum and maximum deposits and there are higher minimum and maximum withdrawals. There is also very little waiting time. Even if you win a large amount of money then it should still be in your bank account within a few days.
Can I use Bitcoin Gambling Sites on my Smartphone?
You may need to make a deposit on your desktop, but once you have money in your account then there will be nothing stopping you from playing a Bitcoin casino on your smartphone.
Bitcoin casinos, just like other casinos, have all jumped on the mobile bandwagon. There are now more people using the internet with their mobile device than with their desktop, which is why so many developers and casinos have turned toward the mobile market.
The best way to play Bitcoin casinos on your mobile device is to go directly through your mobile browser. This way you are guaranteed compatibility and won’t have any issues regardless of whether you’re using an Android, Apple or Windows smartphone.
Can I use Bitcoin Gambling Sites on my Tablet?
Bitcoin casinos and other Bitcoin gambling sites can also be played on your tablet device, whether it’s a Samsung Tab, an Apple iPad or one of the many other devices out there.
As with smartphones, you may be better off going through a mobile browser than downloading an app. This tends to be less of a problem with Bitcoin sports books, which are better suited for apps, but it’s definitely the case for Bitcoin casinos.
If the experts are to be believed then Bitcoin is the currency of the future. If that’s the case then now is the time to invest in Bitcoins and to make the switch to Bitcoin gambling sites.
Not only is this a great way to gamble, but if Bitcoin does reach the lofty heights that are expected of it, then it could also be a great way to invest for the future.