Traditional and Online Gambling Industry
The global gambling sector was valued at around $449 billion in 2018, having grown at a 4.1 CAGR (compound annual growth rate) since 2014. It is estimated to grow up to $565 billion at a 5.9% CAGR by 2022. In 2018, casinos in Las Vegas boasted a revenue of $11.9 billion.
Online gambling is also looking upward. The new market is expected to double by 2024 with a value of around $94 billion. Bitcoin gambling is still a minor yet exotic part of the industry that has taken digital gaming to a different level. With the further development of blockchain technology, it is predicted to gain more popularity and also a major chunk of the market share percentage.
There are around 60 cryptocurrency-based casino sites with players placing 337 bets/second and wagering 3 BTC/minute. The fastest-growing BTC gambling market is North America, while the largest in Europe.
A Brief History and the Impressive Rise of Bitcoin Casino
| Year | Notable Events |
| August 2011 | The first-ever Bitcoin payment in e-gambling was made on the poker gambling site Switchpoker.com. |
| April 2012 | Satoshi Dice was launched; the site accounts for half of all the exchanges on the Bitcoin network. |
| June 2013 | Just Dice became the first-ever crowdfunded crypto casino. |
| July 2013 | Satoshi Dice was sold for $11.5 million to an undisclosed buyer. |
| September 2013 | A player named “Nakowa” won a massive 11,000 Bitcoins ($1.65 million in fiat money) on a dice game; a major landmark in BTC gambling history. |
| February 2014 | The first registered Bitcoin casino Bitcasino.io made its way. It was licensed and regulated by the Curacao Gambling Licensing Authority. |
| August 2014 | Altcoins were implemented in the Bitcoin casino crypto games. |
| July 2015 | Beginning of new play restrictions and regulations around Bitcoin gambling started taking shape thanks to the UK government. |
| August 2016 | The United Kingdom starts accepting BTCs as a payment method for Bitcoin casinos. |
| October 2016 | NetBet becomes the UK’s first government-licensed Bitcoin casino. |
| January 2017 | Monero and Ethereum start gaining acceptance in Bitcoin casinos. |
Since then, Bitcoin casinos are growing at a comfortable pace.
There are seven factors that make an excellent Internet casino:
- Design (load time, action buttons noticeable, easy registration process, easy navigation, interactive widgets, smartphone accessibility)
- Game choice
- Variety of payment options
- Easy deposits and withdrawals
- Live chat, phone, and email support
- Good Promotions, higher rewards, and new bonuses
- Cryptocurrency acceptance
A few years ago, the seventh factor would not have had much value. But, with Bitcoins growing in popularity, it is almost mandatory for any online casino to possess the ability to accept payments in cryptocurrencies.
For gamers, especially the new ones, sites that work with BTCs are associated with high-degree privacy, faster payment processing time, and innovation. To play at an iCasino would mean they could showcase their talent via digital credentials, linking them numerous opportunities in the wider gambling world.
What is a Bitcoin casino?
In simple terms, a web casino that accepts Bitcoins or any other digital currencies as a method of payment to deposit and withdraw assets. BTC casinos operate worldwide and are subject to local laws. Through BTC transactions, these casinos allow gamers to play games from a variety of options including:
- Gambling games
- Casino games
- Online lotteries
- Spread betting
- Sports-based betting
Key Advantages of Bitcoin Gambling
- Anonymous deposit and withdrawal of money (even Bitcoin founder’s identity remains a mystery till date)
- Play with lower amount
- No third parties
- Provably fair gaming platform
- Pay and cash out with BTCs
- Bets are easily placed
- ID verification not needed
- Accessible globally round the clock
- Become operational in just 2 to 3 weeks
- Can be customized with tweaks in the game rules
- Tax-free
Operations of a Bitcoin Casino
Popular and large Bitcoin casinos with a substantial user base run their own gaming software, while smaller operators use either purchased or rented software versions that are customizable.
Human intervention is minimal since the software manages and runs the games. In a few cases, to convince players about the legitimacy of their business, Bitcoin casinos sometimes publicly disclose the workings of their software algorithms in an attempt to establish trust.
For the rest, the uniqueness of the game or peer-to-peer reference works just fine.
Do casinos accept Bitcoin?
Well, it depends on the state. While a majority are yet to open up to Bitcoin casinos, a considerable number does. If online gambling is banned in a country, then chances are Bitcoin gambling is prohibited too. Regulated means regulation of Bitcoin and/or web gambling. Unregulated refers to the fact that BTC is legal but not subject to any laws.
Guidelines are in place in many countries with regard to Bitcoin payment but most need further interpretation. The major exception to this is Japan, whose gambling sector is regulated with an iron hand, and is worth around $15.8 billion (i.e., $4 billion more worth than Nevada’s gambling).
Bitcoin Casino Regulation Worldwide
| Country | BTC Legality | BTC Gambling Legality |
| The United States | Yes (Regulated) | No (Considered legal in only certain states) |
| The United Kingdom | Yes (Regulated) | Yes (Regulated) |
| Australia | Yes (Regulated) | Yes (Regulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| Japan | Yes (Regulated) | Yes (Unregulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| France | Yes (Regulated) | No |
| China | Unregulated and Unclear (BTC trading is allowed but banks are prohibited from bitcoin transactions) | No |
| Canada | Yes (Regulated) | Yes |
| Italy | Yes (Unregulated) | Yes (Regulated) |
| The Netherlands | Yes (Unregulated) | Yes (Regulated) |
| Greece | Yes (Unregulated) | Yes (Regulated) |
| Germany | Yes (Regulated) | No |
| Denmark | Yes (Unregulated) | Yes (Regulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| India | Yes (Unregulated) | Yes (Regulated) |
| Finland | Yes (Regulated) | Yes (Regulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| South Africa | Yes (Unregulated) | No |
| Turkey | Yes (Unregulated) | No |
| Belgium | Yes (Unregulated) | Yes (Regulated) |
| Spain | Yes (Regulated) | Yes (Regulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| Kong Kong | Yes (Unregulated) | Yes (Unregulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| Portugal | Yes (Unregulated) | Yes (Regulated, gamers are allowed to play in foreign online casinos but local web casinos are banned) |
| Norway | Yes (Regulated) | Yes (Regulated, gamers are allowed to play in foreign e-casinos but local web casinos are banned) |
| Poland | Yes (Unregulated) | Yes (Regulated) |
| The Czech Republic | Yes (Unregulated) | Yes (Unregulated, gamers are allowed to play in foreign e-casinos but local web casinos are banned) |
The countries that have completely banned Bitcoin and related activities include Algeria, Bangladesh, Morocco, Ecuador, Nepal, Saudi Arabia, Nigeria, Qatar, Afghanistan, Bolivia, Kyrgyzstan, Columbia, and Vietnam.
Top Regulators of BTC Casinos
The Bitcoin gambling industry has grown considerably in the last 10 years and has witnessed many new e-casinos getting onboard every year since its inception. One of the cardinal aspects of lobbying for casino operators is developing a website that the gambling community trusts.
It is vital that recognized licensing and regulation authorities are set up to monitor the money-spewing market. They are responsible for ensuring all casino operators they license offer games that are secure, fair, and random for crypto gamblers to enjoy. Besides, they also assist in establishing protocols that make sure player assets are always protected.
There are many authorities in the industry but the below given 6 are the most renowned ones.
The UK Gambling Commission (UKGC)
- Regulates all types of betting in the UK except for sports betting
- Oversees remote betting that includes Bitcoin gaming sites licensing
Curacao eGaming (CeG)
- One of the oldest running e-gambling regulators
- Many casino operators choose to run from Curacao due to its quick and cost-effective licensing process and favorable tax laws (the island country charges a meager 2% tax on net profits)
- CeG also provides financial and tech support for BTC casinos
Gibraltar Gambling Commission (GGC)
- Provides licenses for betting, casinos, and sportsbooks
- Conducts fairness checks on the software used by its licensees
Malta Gaming Authority (MGA)
- Regulates many casino operators that benefit from its friendly local financial institutions and generous tax scheme.
ACT Gambling and Racing Commission
- Regulates lotteries and racebooks
- Issues licenses to Australian betting websites
- Despite its high fees and taxes, many casino brands choose to be licensed under ACT as Australians bet more compared to any other country per capita, making gambling a lucrative market for casino operators
Alderney Gambling Control Commission (AGCC)
- British Isles-based
- Levies 0% tax and collects only an annual fee from casino operators
What is the best Bitcoin casino?
Which is the best Bitcoin casino? Answering it is as taxing as finding one. Options abound for new players who may not be familiar with what exactly they want. New casino sites keep mushrooming every week everywhere.
There are four important parameters to be aware of when deciding to play at a Bitcoin casino. The first two are game selection and game play. The selection of games must be large with a wide array of slots, poker, and other regular casino games.
The third and fourth parameters concern money. The former deals with cashing out the winnings the fastest. And the latter and the most vital parameter is legitimacy. Just because an e-casino accepts BTCs does not mean it is a safe platform to play at. Bogus BTC casinos exist as much as genuine ones.
Make sure to pick a licensed and regulated popular Bitcoin casino. Go in for Bitcoin casinos owned by reputed companies such as Direx N. V and mBet Solutions N. V. Most of the e-casinos listed below are owned and operated by Direx N V that controls around 30 active internet casinos.
Direx N V e-casinos are licensed and regulated under Curacao laws and Antillephone N V. Some of the other reputed Direx N V web casinos not included in the list are Gunsbet, Lady Hammer, iLUCKI, Queenspin, Darkslot, Wildlaster, Megawins, Golder Star, Wild Tornado, Bao, and Loki to name a few.
Besides being Bitcoin-friendly, internet casinos also are Ethereum, Litecoin, Monero Dogecoin, Ripple-friendly.
The following table lists the top 10 best Bitcoin casinos where people can wager their crypto funds at.
The 10 Creme of the Crop
| BTC Casino | The Goods | The Not-So-Goods |
| 7Bit | New players get 100% bonus (up to 5 BTC) and 100 free spins on first deposit No minimum deposit Get a 50% bonus and 200 free spins on second and third deposits Get to play from a large gaming portfolio with 2,000 games including slot games, roulette, baccarat, live dealer, and jackpot games Play with BTC, DOGE, Litecoin, and ETH, and fiat currencies Convenient instant-play interface 24/7 live chat support team Cashout in 10 minutes | Several country play restrictions No toll-free number for customer service |
| Bitstarz | Get to play around an impressive collection of slot games, table games, and live casinos with over 2,600 games using regular currencies and over 800 games using cryptos Supports 10 fiat currencies and 6 cryptocurrencies Fast deposits and withdrawals Play free demo Supports multiple languages Convenient mobile gaming that offer live dealer roulette or blackjack Unlimited maximum amount for cryptocurrency deposits New players get 20 free spins Get a 100% bonus (up to 5 BTC) and 180 free spins on first deposit | The UK, US, French, and Spanish players not allowed Few table games New bonuses offered only for certain casino games Wagers on no deposit bonuses cannot win beyond a certain amount of money |
| Bovada | No deposit or withdrawal fees for bitcoins Unlimited deposit frequency for BTC Get a range of games to play from including Caribbean draw, red dog poker, 3-reel classic, 5-reel video, keno, craps New players get a welcome bonus up to $5,000 with bitcoin Get 200% refer-a-friend bonus Play special blackjack weekends and table mania Tuesday programs Live casino games including Super 6 | Bitcoin withdrawals limited to $9,500 Limited payment methods |
| FortuneJack | New players get a first deposit bonus up to 110% ( up to 1.5 BTC) and 250 free spins No deposit bonus with 25 free spins Excellent no deposit and deposit bonuses for Altcoins Four own provably fair games Get to play around 1,492 games with live dealer games and 100 different types of video poker as well Sports betting made available from 2019 February Supports 8 cryptocurrencies | Deposit amount should be wagered twice for a withdrawal request to be approved Bonuses should be wagered 40x to withdraw winnings Free spin winnings should be wagered as well (45x for 25 free spins and 50x for 250 free spins) |
| Syndicate | Mafia-style new online casino that offers a range of games such as pokies, live casino games, table games, and video slots Get new player first deposit bonus up to 125% (i.e., 100 mBTC gives 125 mBTC, so total 225 mBTC) and 200 free spins VIP club program that offers 10 to 100 free spins and 50€ to 250€ chips Get to play around 1,500 games from 20 reputed game providers Support fiat currencies and other cryptos Weekly new rewards and promotions 24/7 support team by phone, live chat, and email (multiple language support) | Design of casino lobby is cluttered Country play restrictions such as the UK and US VIP program needs more clarity and information No threads in crypto forums or social media accounts |
| CasinoFair | Offers 300 to 1,000 FunFair (FUN) and 50% cashback of up to $2,000 deposit Lightning-fast payment processing Blockchain-powered, so fully crypto-compliant New player welcome bonus and cashback do not come with wagering requirements Get 50% cashback even on losing bets for the first 7 days for members Get to play around a wide range of table games including variations of poker, blackjack, and baccarat | Cryptocurrencies must be swapped to FUN before playing Small game portfolio |
| Play Amo | Get to play around 1,874 games including over 160 live dealer games with regular currency from 40 different game providers Play 570 games with cryptos Supports 6 cryptocurrencies New player welcome package worth $1,500 bonus with 150 free spins Get 100% first deposit bonus and 100 free spins and increased free spins on higher levels Get 50% reload bonus with 100 free spins on the Golden Owl game of Athena slot on Fridays Get 100 free spins on Gold Canyon slots or Arcane Reel Chaos on Mondays Excellent mobile site | New bonuses offered only to regular currencies, such as USD or Euros |
| 22Bet Casino | Offers a record-breaking 4,624 games (4,280 slots and 340 casual and table games) from 93 game providers Supports 20 different cryptos and 113 regular currencies New player first deposit bonus to casino games is up to $/€ 300 and to sports betting $/€ 120 Get a nice selection of games to play in sports (Formula 1, NHL, NBA, martial arts) and e-sports betting (FIFA, StartCraft II, DOTA 2) Responsive mobile site | Cryptos have no bonuses A very heavy website with slow loading time |
| Vegas Crest | New player reward up to 200% first deposit (up to $/€1,000 in BTC and 30 free spins) and 300% (up to $/€1,500) second deposit bonuses No deposit for 10 free spins Get to play around 800 games from 10 game providers A wide array of jackpot slots and 3-reel slots to play from Special casual games such as Scratchcard, Keno, and Bingo 24/7 email and live chat help | Minimum withdrawal limit is 100€ A valid ID and a utility bill should be uploaded for withdrawal Wagering requirements are high (99x for free spins and 60x for deposit bonuses) |
| Mars Casino | Space-themed BTC casino that also supports fiat currencies Get to play around 741 games with a decent choice of live casino games including roulette, blackjack, and poker, and specialties such as Heads and Tails, Minesweeper, and Scratch Dice New player bonus up to 100% first deposit ( up to 1 BTC and 50 free spins) Total bonuses are 2 BTC and 50 free spins Over 16 jackpot slots to play from | All deposits should be wagered 3x to make a withdrawal |
For those who are interested in playing particular casino games like slots, check out the top BTC online casinos gamewise. The table includes, but not limited to, some of the highly recommended gambling sites for certain games.
Top BTC Online Casinos for Particular Games
| Bitcoin Casino Games | Gaming Sites |
| Poker | Nitrogen Poker Ignition Casino Poker Blockchain Poker Bit Casino Poker |
| Video Poker | Bitcoin Penguin Crypto Games Emu casino |
| Lottery (lotto-type and raffle-type) | Cloudbet Satoshi Lottery Mbit Casino Betcoin Casino |
| Dice | BetBTC Safedice MegaDice PrimeDice |
| Slot Games | CryptoWild KingBit 1x Bit Diamond Reels |
| Blackjack | Oshi! Cafe Casino Bet Chain Stake.com |
| Roulette | King Billy Joe Fortune Bitvest Betflip |
| Sports Betting | SportsBet Coinbet Jetwin Fairlay |
Are Bitcoin casinos legit?
In terms of legality, Yes, but it depends on two aspects: first, if the user’s country acknowledges Bitcoin as a currency form, and thus the regulations of its use. Second, if the country allows online gambling in general. One positive thing is no rules exist to prohibit the online use of BTC to play table games such as baccarat, poker, and blackjack. So, it is a local jurisdiction-dependent.
On the other hand, it terms of an individual casino’s legitimacy, it depends on player smartness. The Bitcoin gambling industry has had its fair share of illegal operations or scams time and again. Wherever large sums of money are at play, it is natural for rogue activities to luck around the corner.
However, in recent years, leading gambling authorities have come up with new solutions to reduce the swindling ops in Bitcoin gambling.
Bitcoin Casino Legitimacy Check
The Five Warning Signs new players should be aware of.
Licensing
- Should be licensed by a renowned licensing authority (some of them are discussed earlier)
- A licensed casino is bound to follow the basic norms to avoid the risk of getting its gambling license revoked
- Likewise, players have a cushion to fall back on in case a casino’s activities become questionable
Software Providers
- Should be tested and certified by an independent third-party auditing entity, such as TST Labs and eCOGRA, that checks the fairness of the payouts and their compliance with international gaming protocols
- Some of the leading software providers include GameArt, Microgaming, Habanero, NetEnt, Endorphina, and iSoftBet
Community
- Check out for various threads on BTC casinos where players share both their good and bad gambling experiences
- To entice players, new casino sites offer extravagant bonuses and rewards. Read reviews about them, if any, to gauge their legitimacy.
Provably Fair and Security
- Internet casino games should use an RNG (random number generator) that allows players to check results anytime to ensure fairness
- Rogue casinos tweak games in favor of the house or alter their free games to encourage gamers to play lesser fair games
- Also, make sure if the casino site is protected by SSL and TLS certificates and HTTPS protocol
Terms and Conditions
- Know the privacy policy under which the casino operates
- Read the contract terms and conditions to understand what player rights and wager requirements are
- Watch out for red flags such as low withdrawal limits and long periods of cash out
Customer Support
- Responses should be instantaneous to resolve issues
- Should notify about new changes in a company’s norms
- Do not deposit Bitcoins in casinos that either do not respond or take a long time to answer queries
Overall Perks of a BTC Casino over a Regular Casino
- Regulation: Bitcoin casinos can trade anywhere unlike the traditional ones that are subjected to various regulations and rules depending on the state’s gambling laws. For example, in Japan, where online gambling with money is illegal, internet providers monitor the activities of users to track law-breaking sites. However, BTC casinos are exempt from these protocols.
- Interoperability: Assets are interoperable across all BTC games, whereas traditional casinos allow funds to be used only in their own games.
- Financial Transactions: Are faster and instant because Bitcoin casinos are not regulated by banks and payment services. No 2-to-3-day waiting time as with a regular casino.
- Game Portfolio: Offers both traditional games and BTC-only games such as Satoshi Quiz and Bitcoin Flip.
- Cost-Effectiveness: No tax payments, currency conversion fees, and admin charges. Very low deposit and withdrawal fees.
- Investment Safety: Unlike the fluctuating regular currencies, BTCs held in an online casino account gain value at best and remain stable at worst. Of course, crypto volatility is a persistent issue but should not be much of a concern.
- Security: Eliminates the need for personal information such as debit/credit card details and filling out long forms. Safer and harder-to-hack Bitcoin wallets are used for money deposits and withdrawals.
- House Edge: Playing on a BTC casino yields a higher average return than on a regular casino. The average Bitcoin casino’s house edge lies between .5% and 2%.
- Transparency: No dodgy tricks to gain an upper hand in winning or concealing information about winnings from customers. Offers a transparent platform to ensure the odds are clear and legit to players.
- Bonuses and Promotions: Offers rewards that range from 1 BTC to 5 BTC. 1 BTC is equal to 9,418 USD.
Further, behaviors pertaining to the Bitcoin games themselves are related to exciting and enjoyable traits such as the game’s special functions, user interaction, and in-game purchases that make the games fun for users and keep them immersed. Something traditional casinos cannot afford.
A Step-by-Step Guide to Bitcoin Gambling
Buy Some Bitcoin
- Register with a reputed online service
- Open a Bitcoin wallet and buy some BTC
Find a Bitcoin Casino
- Find a reliable e-gambling operator (service that is either BTC-only or any traditional one that accepts BTCs)
- Check out the games offered, support trustworthiness, user interface, mobile version, and other factors)
Deposit and Withdraw Bitcoin
- Make the first deposit. the casino room will give the user a Bitcoin wallet address; go to the wallet; send the desired amount; money will appear in the account
- Same with withdrawal. For cashing out, go to the cashier section of the casino operator. Provide a Bitcoin wallet. Enter the amount to be withdrawn.
- Get money instantly.
Bitcoin Impact on iGambling
From pizza to gambling, Bitcoin is a revolutionary in its own right. Acceptance by the iGaming industry in 2012 was yet another milestone for the cryptocurrency. It was all new and the very first-time people experienced true anonymity while gambling. Nearly half of all BTC transactions come from the casino market. Since 2014, bets in excess of $4.5 billion (3.7 million BTCs) have been wagered.
Daily Bitcoin transactions increased 5-fold following the launch of the gaming site SatoshiDice.com in April 2012. The game brought in a tight circle of early adopters who were partly responsible for the public recognition of Bitcoin gamble.
Mobile BTC Casinos
Most online Bitcoin casinos have their websites designed to be suitable for mobile gaming. They accept all types of cryptocurrencies and offer plenty of games to play from including slots, poker, and a multi-game blackjack roulette craps table. Besides the popular ones, check out below some of the other renowned mobile Bitcoin casinos for some new and comprehensive mobile gambling experience.
- Bitcasino.io (110% bonus up to 1 BTC)
- Betcoin.ag (100% bonus up to 1 BTC with 10 free spins)
- Crypto Slots (111% match bonus)
- Bodog (120% welcome bonus)
- Bitcoin Video Casino—an exclusive app for Android users
A good thing about a mobile Bitcoin casino is the bonus. Mobile Bitcoin bonuses act as incentives to attract gamers using the cryptocurrency to their site. They can be any or a combination of the following offers:
- Reload bonuses for new deposits of Bitcoin
- Zero bitcoin deposit to the site
- Free spins for bonus rounds or for sign up
- Bonus codes or auto-granted Bitcoin incentives
- Commission for referrals
- An exclusive credit system where 1 bitcoin equals many casino credits
- Bitcoin faucet incentives with free time-based BTCs
How Secure is a Mobile Bitcoin Casino?
The parameters are the same as in a web casino mostly because there are hardly any Bitcoin casino apps exclusively for smartphones; leading e-casinos just make their sites mobile-compatible. Therefore, the same set of criteria mentioned previously hold up good for mobile Bitcoin casinos as well. However, keep these pointers in mind as well:
- Keep an eye on the player support services
- Look out for blacklisted operators
- Go through websites that recommend the best Bitcoin casinos for smartphones
- Try out sites that offer demo games before playing for real
Bitcoin Casino Tournaments
Casino tournaments are extremely popular among players as they allow gamers to participate in big-paying competitions while still enjoying other casino games. These tournaments are icing on the cake for any BTC casino experience and an excellent way to fatten up a player’s BTC wallet.
There are several types of Bitcoin tournaments that offer a wide range of games as per player preferences. The tournament payouts are usually big and even include vacations and gifts.
Bitcoin Poker Tournaments
- Hundreds of tournaments take place every minute across the Web
- Bitcoin rewards are big
- Skilled gamers can play in live events with champion players
Bitcoin Blackjack Tournaments
- Follows its own regulations and has 2 to 3 rounds
- Winners from each level progress to the next level. The process is repeated until a winner is announced in the final round of play.
- Players are given the same amount of money, to begin with
- The winner gets the biggest chunk of the prize and the rest are shared as per the fixed reward structure
Bitcoin Slot Tournaments
- Easy to find and play
- Slot games are a great way to make more Bitcoins
Bitcoin Dice Tournaments
- The bigger the play wager the bigger the reward
- These tournaments are a blend of skill, comradery, and luck
- Play single table and multi-table tournaments depending on the casino
Some good examples of Bitcoin tournaments are Slot Wars, Slot Frenzy, Slots Blitz tournament, Table Wars, and Slot Tournament.
Bitcoin Casino Challenges
Regular online casinos trade using regular currencies that have defined regulations. Payments done via fiat currencies facilitate tracking and identifying players, dealers, and casino operators. However, this is not the case with BTC casinos. At times, the BTCs anonymous nature behaves like a double-edged sword.
For instance, Bitcoin exchanges are 100% digital, which poses a challenge to audit and validation. And, since only minimum user details are required, information such as the player’s location and age remains unknown, which further questions the fair business practices of Bitcoin casinos.
On the other hand, though BTC transactions do not involve the transmission of personal details, protocols against KYC rule and money laundering make it possible to ascertain the identity of a person who tries to convert their BTC to fiat currency.
Digital currencies function as a new parallel economy that at times baffle authorities. Although cryptocurrency-based systems are cited for their benefits, casino-based gambling is a tough nut to crack at multiple levels.
Play for Some Excitement
It is inherently desirable to try out new things that offer both excitement and money. And, gambling is big money. The majority, if not all, gamble for the moolah. In general, play online casino games for fun first, and then for the benefits.
If people are not playing for fun, then they are doing something wrong. Running after money only adds way too much stress to the games making them a chore. Something that is meant to be entertainment and escapism will quickly transform into a punishment.
Have a relaxed approach to the game and never invest emotionally. That way, even if something does not go as planned, it won’t impact the mind much. Always view online casino games as another video game. Spend reasonably, and play for fun and play safe.
The Final Say: Cryptos Are Still New to Many
Online gambling, regardless of being operated through conventional currency exchanges or anonymous cryptocurrency exchanges, is a hotly debated topic on ethical grounds. Adding to it, the complexity of BTC transactions poses further challenges to the operations of Bitcoin casinos.
While it is natural to get carried away with shortcut options to making money, users should always keep in mind the risks, legal aspects, and the challenges that are inherent to Bitcoin gambling.
Given the present situation, Bitcoin gambling is likely to experience good growth with more and more players opting for digital currencies to make e-transactions. They certainly do present numerous benefits over the traditional online casinos.
Overall, Bitcoin gaming is a groundbreaking technology that has created new and innovative ways to put e-gaming on a higher pedestal, while enabling players to rake in some moolah when they play for real money.