We've prepared here everything you should know before you venture into the exciting world of Bitcoin gambling. So, are you ready to start?
#1 Bitcoin gambling has evolved.
Bitcoin was introduced in 2008 and not long after, people began playing proprietary casino games online using Bitcoin. But over the years, much has changed in the iGaming space. More Bitcoin casinos and sportsbooks are now available, as well as more fiat-money gambling sites have started accepting Bitcoin for deposits.
With this, when we say Bitcoin gambling, it now pertains to all online casinos and sports betting sites that accept Bitcoin as payment. Included are gambling sites that accept Bitcoin for deposits only and those that allow players to also withdraw using the cryptocurrency.
#2 Bitcoin isn’t the only one.
Part of the evolution we’ve just talked about is the fact that Bitcoin isn’t the only cryptocurrency widely accepted in the world of iGaming. As you may probably know by now, there are other popular cryptocurrencies on the market, like Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), Tron (TRX), Bitcoin SV (BSV), and Dogecoin (DOGE), among many others. Looking for perfect examples? Check out FortuneJack or Stake.com.
While not all Bitcoin-accepting casinos may accept altcoins, you can expect that you will now find several sites, be they online sportsbooks or casinos, that accept a number of fiat payment options while also accepting selected cryptocurrencies. Most of the time, operators use third-party payment gateways like CoinsPaid that makes cryptocurrency deposits and withdrawals possible.
#3 Website security is key.
But although Bitcoin gambling may have already come far, there is still that security risk that is common is online gambling sites. This is the reason why even Bitcoin casinos nowadays have amped up their security efforts and measures. Some casinos even let you add another level of security by allowing you to enable two-factor authentication. This is of course on top of the need for an effective website encryption that you can easily spot by looking at the web address. For this, make sure that you play only in betting sites with web addresses starting with HTTPS.
#4 Licenses do matter.
Even in the world of Bitcoin gambling, licenses matter. Why? Because even if the license is issued from Curacao, it gives players the semblance of how serious the operators are with their iGaming business. Remember the old adage that if a casino isn’t licensed, then it probably is a scam? Well, it does still apply at present. This, however, shouldn’t discredit unlicensed Bitcoin casinos that are built on the trust and praise from the players in the Bitcoin gambling community. But if you’re on the fence of choosing a casino, you may want to go for those that have one or two online casino licenses.
#5 Customer support is a must-have.
Got casino-related problems? Then your best bet is to contact customer support. There are various ways you can reach the team nowadays. Of course, there is the traditional email support complemented by the live chat support function now added to most online betting sites. But as social media continue to harness its power, some casinos and sports betting sites now even provide 24/7 assistance via Telegram. And yes, even Bitcoin gambling sites offer reliable support through any of the methods we’ve mentioned.
#6 Scam casinos exist.
If we haven’t stressed yet, your security is of prime importance because scam casinos unfortunately still do exist. This is prevalent in the fiat-money gambling space, and has expectedly trickled down to the Bitcoin gambling sector. But if you have been taking notes, you should be able to save yourself from falling victim to scam casinos online. If anything, we’ve written before ways on how to choose a safe Bitcoin casino.
#7 On-chain gaming is a thing.
One of the wonders of Bitcoin gambling is that you get to experience playing games on the blockchain. Remember SatoshiDice? It was only the first successful Bitcoin dice game that introduced on-chain gaming. This basically means that you’re betting on the blockchain per se, wherein if your bet wins, you instantly receive the reward in your Bitcoin wallet. There are fewer casinos that feature on-chain betting these days, but do keep in mind that this is a feature you can look forward to experiencing in Bitcoin gambling.
#8 Games can be provably fair.
Provably fair gaming is unique to Bitcoin gambling. This simply means that you as a player can manually check the fairness and authenticity of every outcome of your bet. If you’re playing dice at Primedice, for example, except that you can check and prove the fairness of every dice roll. But do keep in mind that provably fair gaming is no longer available only in Bitcoin casinos. Thanks to BGaming, you can play provably fair slots in casinos whose operators opt to enable the said feature. But if you want to try other provably fair games with other cryptos, then feel free to play Doge dice and make everyday Doge Day!
#9 Bonuses largely depend on casinos.
We know just how tempting casino bonus deals and promotions are. Join a casino and you’ll get a welcome bonus and free spins? Of course, who wouldn’t be tempted to sign up? But you should know that not all brands accepting Bitcoin offer huge bonuses. This really depends on the type of casino you’re playing at. Most of the time, casinos accepting fiat money and Bitcoin are the ones offering tons of bonuses and free spins. But there are also some standouts that accept only cryptocurrency. Take mBit Casino as an example. This casino accepts selected crypto but offers exciting bonus deals to new and existing players.
#10 Player anonymity is possible.
Player anonymity is a privilege you get to enjoy when you sign up in cryptocurrency casinos. While they do comply with KYC/AML policies for banking transactions, many Bitcoin casinos allow you to create an account anonymously. And if you’re playing in blockchain casinos, then you may be able to enjoy full player anonymity using only your wallet address as an identifier.
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Want to know more about Bitcoin casinos? Read our Is It Worth Playing in Bitcoin Casinos? article.
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