Bitcoin is the daddy of all cryptocurrencies and it is the most widely accepted digital currency in all industries, including the online casino industry.
So, read our guide to find the best BTC gambling site for you, find out how to get started and all the pros and cons of using Bitcoin to spin the reels of your favorite games.
Benefits of Bitcoin Gambling Sites
Technology is advancing at the speed of light – and this includes the online gambling sphere. This has seen Bitcoin sites gaining popularity every day because there are so many benefits associated with this method of play. Here we will look at how Bitcoin casinos compare with fiat casinos and the advantages associated with BTC casinos:
Fiat vs Crypto
One advantage cryptocurrency casinos have is that it’s completely anonymous – unlike fiat currencies which are traceable by banks and governments. Bitcoin casinos give you more privacy.
However, on the flip side, fiat currency is much more well-known, trusted and easily accessible to the majority of players. Despite the many benefits attached to Bitcoin casinos, they won’t ever be as popular or readily available as traditional online casinos until people become more familiar with them. People tend to stick with what they know – and for most, this isn’t Bitcoin.
That being said, Bitcoin payments are much quicker than fiat currency transactions. Withdrawing with traditional currencies can take up to 7 days in some instances. Bitcoin transactions are usually done in under an hour.
Although the proof of work system means that more Bitcoins are being mined, fiat currency is still more readily available. Most cryptos have limits on their supply – for example, there are only 21 million bitcoins available and to date, almost 19 million have already been mined. The supply of fiat money is unlimited.
One of the biggest advantages of Bitcoin gambling compared to fiat currency gambling is that fewer transaction fees are involved. As a decentralised currency, fewer resources are used meaning lower costs. Overall, it is also safer than fiat currency gambling, meaning you can have more confidence in your BTC online casin
Decentralisation = Less Restrictions
Bitcoin is decentralised, which means it doesn’t need any third party intermediaries such as banks, credit card companies or other financial institutions. This in itself makes it great for online gambling.
Credit and bank cards weren’t originally meant to be used online but Bitcoin was. As a decentralised coin, you have direct control over your money. No one else can freeze your account or dictate how and when you can spend your money… The only limits on your account are set by you.
Safety and Transaction Speed
If stored correctly in the right wallet (a cold wallet) then it is one of the most secure cryptocurrencies. Make sure you keep your coins stored offline and ensure that they are protected with strong passwords and private keys. As long as you do this, you won’t have to worry about the coins being stolen.
However, if you look at a website storing your bank or PayPal details, any hacker that successfully manages to hack the site could potentially gain access to your details. Fiat currencies are also more susceptible to phishing scams etc. As long as you don’t give someone your private key or wallet password, your Bitcoin should remain safe.
Gambling isn’t accepted in every part of the world and is stigmatised still in certain countries. People often have preconceptions about people that gamble. For example, if you were to apply for loans or mortgages that require a credit check, should they see gambling transactions on your bank statements, this may negatively affect your chances.
Anonymity means that no one can see how much you spend on gambling, so no stigma at all.
Fast Payouts and Greater Limits
Although Bitcoin is one of the slower cryptos due to its Proof of Work technology (as opposed to the more efficient Proof of Stake), they are still much faster than standard currency transactions. Most Bitcoin transactions take just minutes – a couple of hours at the most. On the other hand, a bank transfer can take upwards of 5 days, so there’s no comparison.
If using a reputable Bitcoin gambling site, you can get your winnings immediately.
As well as being faster, it is also cheaper than fiat currencies, usually just a fraction of bank costs or credit card payments. This benefits both gamblers and the BTC casino owners – as you both get to keep more of what you earn.
Bitcoin Gambling Sites Reviews
We have made sure that all of our Bitcoin gambling sites reviews cover everything you need to know. There are a series of factors that need to be considered when deciding whether or not a casino should be added to our list of Best Bitcoin Casinos.
Firstly, we look at the registration process and how quick and easy it is. We look at the selection of payment options and the processing time. Following this, we look at the welcome bonus and other casino bonuses – how fair they are and how generous.
We then spend a bit of time using the site – playing the games, navigating our way around and contacting customer support. It should be quick and easy for both old and new players. We also check their licensing, security and industry reputation.
Before you even think about simply opening a Bitcoin casino and starting to play, read our top tips for using Bitcoin in online gambling:
- Click on the reviews of our Bitcoin gambling sites reviews and read through them carefully so you know which one is best for you.
- Research and compare different Bitcoin wallets and choose one that is safe and secure.
- Look at the BTC rate and see when is best to buy and where to get the best rates.
- Look at the banking page and see what terms are attached to BTC payments and BTC bonuses.
Follow these rules and learning how to gamble with BTC will be very straightforward.
A Short Guide to Crypto Gambling
So, you know how to gamble with Bitcoin, now you need to get going. In this part of our Bitcoin gambling guide, we will walk you through the steps:
See Our List of Bitcoin Gambling Sites
We have spent a vast amount of time creating our Bitcoin casino reviews and rating them, so you can be sure that all our recommended sites will be:
- Licensed and regulated by a highly reputable governing body
- Fair and transparent
- Filled with generous and fair Bitcoin bonuses offers
- Filled with lots of great casino games and Bitcoin games from the best providers
- Excellent for customer support
- Fast for withdrawals and deposits
- Highly respected in the industry.
So, read the reviews, pick your favorite and open a new account.
Choose and Buy Cryptocurrency
Before depositing, you will need to buy Bitcoin. There will be many different exchanges that will sell you Bitcoin, so you need to shop around. Look at the different options, see their rates, check out their reputation and know their fees.
You will then be ready to transfer your funds to your Bitcoin wallet.
Set Up Your Bitcoin Wallet
If you have not yet got a crypto wallet that accepts Bitcoin, you need to get one. You should look for a Bitcoin wallet that is convenient for you to use. However, you should also make sure that it is completely safe, especially if you will be holding large funds of money. Make note of your Personal Wallet Number and keep your password and private key locked away.
Deposit Bitcoin to the Gambling Site
If you have a Bitcoin wallet with Bitcoin and a favorite Bitcoin casino, you just need to deposit the money into your account.
- Open your casino account and open the cashier area.
- Select deposit and choose BTC as your chosen method.
- Take note of the casino’s Personal Wallet Number.
- Open your BTC wallet, enter how much you want to deposit, then enter the casino’s PWN and click on confirm.
- Wait for it to come through, claim your welcome bonus and start playing.
How to Find the Best Bitcoin Gambling Site?
Before getting started, you need to know – can you gamble with Bitcoin in your country? If not, you should consider alternative options.
However, if it is and If you want to look for your own Bitcoin casinos, you need to make sure you know what to look for. In this part of our BTC gambling guide, we want to help you to understand how to choose the best Bitcoin gambling site for yourself.
Does the Crypto Gambling Site Support Your Country?
Bitcoin is the most widely available crypto in the world, but is gambling with it legal? Before starting, you need to find the answer to: Is Bitcoin gambling legal in your country? If so, you then need to make sure that the Bitcoin casino is regulated in your country. Look at the licensing closely to confirm this.
Bitcoin Gambling Site Trustworthiness
In our BTC gambling guide, we will only ever recommend trustworthy sites – but there are scam Bitcoin casinos out there that you need to avoid. Check for yourself that it has been licensed and regulated by an online casino governing body such as the UK Gambling Commission, Malta Gaming Authority or any other internationally recognised authority.
Support Team (Native Language?)
Customer support is essential and you should expect the best. It should be available whenever you need it, preferably by email, Live Chat, phone number and even social media platforms. However, also check that you can contact the support in your native language, especially if it isn’t English.
Transactions and Fees
The reason many choose to play at a BTC online casino is because of fast transactions and low fees. You need to be sure that the casino supports this. Often, the delays you get with Bitcoin gambling are a result of the casino, so check transaction speeds, processing times and maximum withdrawals.
Offers, Promotions, Bonuses
We would expect a good BTC gambling site to offer a generous welcome bonus. However, you should also check the small print to ensure that terms, such as the wagering requirement are fair as well. Some scam BTC casinos offer great-looking bonuses with impossible and unfair terms.
Also, make sure that there are other bonuses for new and existing players such as a Bitcoin no deposit bonus offers, VIP program, loyalty program, reload bonuses and cashback etc.
Should You Consider Gambling Online Using Bitcoin?
As with all different cryptocurrencies, there are pros and cons associated with gambling with Bitcoin
It is decentralised – more control over your wallet.
Higher security if using a secure wallet.
Anonymous – no personal information attached.
Fast transaction times.
Low transaction fees.
Not affected by inflation as much as fiat currencies.
Sometimes not taxable (depending on local laws).
Volatile: Price fluctuates depending on whether it’s a Bull market or Bear market.
Still a work in progress with ongoing changes.
Not as accepted as fiat currencies.
You have to buy the currency and have access to a crypto wallet.
Being untraceable means it is more likely to be associated with fraud.
Find out even more about Bitcoin in our Bitcoin Academy!
Bitcoin Gambling Sites FAQs
Are Bitcoin Gambling Websites Legal?
As long as crypto gambling is legal in your region and as long as you are playing at a fully licensed Bitcoin casino then yes. Make sure you check the Bitcoin casino laws and regulations where you live before playing.
Can I Gamble Completely Anonymously with Bitcoins?
Yes, because it works on blockchain technology and is decentralised, all transactions are anonymous. You simply need to enter your PWN number to deposit and withdraw and not your personal or financial details.
How Long do Bitcoin Withdrawals Take?
Because it operates on a Proof-of-Work mechanic, it is one of the slower cryptocurrencies. However, depending on how busy the blockchain is, it could be instant, 30 minutes – but never normally slower than an hour. This is much faster than standard fiat currency withdrawals.
What Cryptos Should I Consider for Online Gambling?
Other than Bitcoin, there are alternative tokens and altcoins popular for online gambling including Ethereum, Dogecoin, Litecoin, Binance Coin and Ripple. These are all becoming much more widely accepted online now.
With 8+ years in the iGaming industry, Tomek has a wealth of experience in building and improving online casino platforms. Fascinated by the intersection of crypto technology and iGaming.
He has been involved in crypto since 2016, writing about free web (3.0), crypto (d)apps, and blockchain safety. Based in Malta, Tomek is a specialist in live casino games, one of his favorites – live roulette.More by Tomek Jedrak