Casinos that accept Bitcoin
The introduction of Bitcoin and its acceptance as a payment method at casinos has gone a long way in creating a better online gaming experience. The ability to make fast, secure and anonymous payments is something every gambler looks out for when embarking on their online adventure.
In additions, Bitcoin has offered a ready solution to players who are in countries that strictly regulate the financial systems and subsequently limiting methods of transferring funds to casino accounts. However, it is still advisable that before you start using Bitcoins you should take some time to research and understand how the entire system works. This will help you prevent future difficulties with your money and also put the right security measures in place when setting up your wallet. Information regarding the usage of BTC currency is available and you will learn that in next part of the guide, but first let's introduce you to the best Bitcoin sites in 2017 that successfully passed our checklist.
|DEPOSIT BTC: Fee Time Min limit Max limit
Free Instant 0.001 No limit
|WITHDRAWAL BTC: Fee Time Min limit Max limit|
Free Instant 0.06 No limit
|DEPOSIT BTC: Fee Time Min limit Max limit
Free Instant 0.00001 No limit
|WITHDRAWAL BTC: Fee Time Min limit Max limit|
Free Instant 0.00001 20
|DEPOSIT BTC: Fee Time Min limit Max limit
Free Instant ≈ 0.0237 ≈ 5.91
|WITHDRAWAL BTC: Fee Time Min limit Max limit
Free - ≈ 0.2366 ≈ 5.91
|DEPOSIT $: Fee Time Min limit Max limit
Free Up to 10 minutes 10 1,000
|WITHDRAWAL $: Fee Time Min limit Max limit
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What is Bitcoin?
Digital currency Bitcoin has changed the money markets and how people go about their daily business.
The idea of this P2P system was conceptualised in 2008 by Satoshi Nakamoto, but it was until 2011 when it really hit the mainstream markets and began being adopted as a conventional means of payment. Current estimates predict that it will reach the number of 5 Million unique clients until the end of this decade. Being a virtual currency, it means that it is not printed or regulated by a Central Bank like conventional currencies such as dollars and euros. Technically Bitcoin is considered a cryptocurrency. This in simple terms means that the creation of new units of the currency is based on a system of solving complex mathematical problems, a process known as Bitcoin mining.
The idea of mining is premised on the basic concepts of supply and demand. For fiat money, regulation of the supply is the job of the central banks. Bitcoin is based on a peer-to-peer system that ensures new money is only generated as a reward to the miners who confirm the peer-to-peer transactions. The entire process is internet based and makes use of state-of-the-art software to ensure utmost security. Just to note that 1 BTC consist of 1000 mBTC, and the reason we mentioned this is because mBTC abbreviation is common at casino sites for setting transaction limits.
How to acquire Bitcoins?
To use Bitcoins in online casinos, the players first need to understand how they will go about acquiring the digital currency. As mentioned earlier, new coins are basically introduced to the market through the process of Bitcoin mining. The process will require you to have sophisticated computer hardware and a high level of skills in computing. For those with such abilities, this is one method to acquire your Bitcoins. However, for gamers with limited knowledge in computer cryptography, this might sound like a very complicated process and therefore fail to find the convenience promised by use of BTC.
You do not need to worry about understanding complex computer codes since you can easily acquire Bitcoin from online exchanges and marketplaces. This is basically the same process as one would go through when you want to exchange, for example, dollars for pounds; it's as easy as that.
Before you begin your currency exchange process, you will need to set up a Bitcoin wallet. This works in a similar way with a bank account, an e-wallet or your ordinary paper wallet. The Bitcoin wallet will store your coins for easier access whenever you want to use them.
A number of types of wallets are available to choose from. They are basically categorised based on the security features they have. The three main types are explained in the next part.
- A software wallet – this is the simplest form and widely used for everyday payment. For this all you need is some software downloaded to your computer and the Bitcoins will be saved on your computer hard-drive. For this type of wallet, you will need to have regular backups made in case your PC gets corrupted.
- An online wallet – here your Bitcoins will be held in a web-based wallet. You will benefit from a number of high-level security features, but you will also need to put in place your own protective measures such as passwords. Also, you have to trust the one it holds them.
- An offline wallet – this is where you will acquire a personalised hardware that will function as your "vault" for the Bitcoins. This is considered the most secure form of storage and can be in two forms; a paper wallet or a small hardware device the size of a flash drive.
After you have selected and set up your wallet, you can now go ahead and make your currency exchange to acquire those Bitcoins for use in your gambling. Depending on your geographical location, a number of companies offer such exchange services and will actually help to hold your online wallet. Such a service would be convenient for avid gamers who need a constant access to their wallets for regular gaming. Some of these services have extended versions for mobile use and can be downloaded as Android or iOS apps.
The currency exchange service provider can accept payments from other e-wallets, credit or debit cards, bank transfers or even in hard cash. The payment method available is contingent on both the company's policies and government regulations in your country concerning money transfers. Some exchange service providers are even making it easier by accepting MoneyGram, money orders and Western Union transfers. You can also check out if there are local sellers in your area and have a face-to-face transaction.
Bitcoin ATMs, though relatively new and in limited use, also provide a convenient way to load funds to your wallet by depositing hard cash.
Difference between hybrid and Bitcoin-only casinos
Although Bitcoins are increasingly gaining widespread usage, they are still lagging behind other conventional payment methods in online casinos. However, this doesn't mean that it will be hard to find the sites accepting this type of payment. Through a simple internet search, you will come across numerous sites accepting Bitcoin as a deposit and also withdrawal method. You will likewise notice that there are two main types of casinos out there.
Hybrid type- These are casinos that will accept deposits and withdrawals in Bitcoins but then go ahead and make an in-house exchange to fiat currency. This means that when you make your BTC deposit, the money you will use to make your bets will be in the form of a fiat currency such as pounds, euros or dollars. When withdrawing your winnings, the money will, however, be sent back to you in the form of Bitcoins. Such casinos will ordinarily accept a variety of other payment methods.
Bitcoin-only type- Unlike the hybrid type, the Bitcoin-only online casinos will carry out their transactions exclusively in Bitcoins. After the usual casino registration process, players can go ahead and start playing without first having to worry about currency exchanges. When making your withdrawals, the payment is processed within minutes and the longest it could take to complete the payment is about 12 hours. This is one of the major advantages that a Bitcoin-only type has over other online casinos operating using fiat currencies. In addition, you as the customer will have complete anonymity and the email address requested by the casino is usually for account recovery purposes only.
NOTE: Some casinos such as BitStarz belongs to this group, but they have gone one step further and offer additional currencies and appropriate payment methods for them.
Choosing a Bitcoin site that offers gambling services
After understanding the nitty-gritty of Bitcoin, it all comes down to choosing the right casino for you. We will help you out by listing below a checklist of the all the important aspects to check out for before registering and betting your valuable Bitcoins.
This is the most important factor to check out for in any casino that you are about to join. A good number of rogue operators are out there to defraud players. You should, therefore, ensure that the Bitcoin site you are playing in is registered and licensed to operate. It is, however, necessary to note that most casinos in this category currently do not hold licenses. This should not be misunderstood as rogue casinos because it merely reflects the fact that technology is still relatively new and in the process of completing several legal hurdles in various jurisdictions.
This factor is as important as the license, particularly for Bitcoin operators that are yet to be issued with their licenses. The reputation a casino have is very important. You can get such information from reviews done by other players and get to weigh out the opinion of other seasoned gamblers.
The gaming software used in any online casino goes a long way to determining the quality of graphics, audio and general gaming experience. When choosing your Bitcoin gaming venue, you should first understand the types of software platforms available and the quality each offers. The names to look out for when searching for your casino include Microgaming, Betsoft, Aristocrat Gaming and NetEnt. A good Bitcoin site should offer their games coded in HTML5 and have a responsive design for players on mobile. This will help you have more convenience in your gaming. You should also ensure that casino offers a complete suite of games meaning that you will not be missing out on some of the new titles being released in the market.
Advantages of Bitcoin friendly casinos
As it may have already been obvious to you, gaming at this type of casinos holds a number of advantages for not only the gamers but also the operator. Here we break down for you the numerous advantages that you will enjoy.
- Cheaper and faster transactions – payments made through Bitcoin are usually completed instantly. Very few fiat currency payment methods can offer such fast transactions and where it is that fast, large service fees are charged sometimes adding up to 10% of your transaction. With Bitcoin, the transactions are usually free and you will not need to worry about any hidden charges. This is not only advantageous to the player but also the casino operator who will incur lower operational costs and therefore offer better bonuses and promotional deals.
- Better odds – Odds are generally favourable than at ordinary casinos. This means that betting with your Bitcoins will have a higher probability of better returns. This is a major advantage since anyone who is out gambling is basically looking for risks with better odds.
- Provably fair gaming – This is a revolutionary technology that has given players the ability to verify and prove that the games at a particular casino are fair and not tweaked in favour of the operator. Bitcoin sites have gone a step further and given customers this ability through the use of cryptography. Here players can be sure that the results at their favourite slot, card or table game is completely random. This system offers a better solution to the traditional checks conducted by gaming regulators which could take days or even months to complete.
To prove it you must match the hash and it can be done by using some third party hash calculator such as QuickHash or HashCalc. Just copy both "Result" and "Secret" fields from the game you played and paste into the calculator, choose algorithm SHA-256 and it will generate the hash that must match the hash casino stated before you started playing. That's all.
Products you can expect on Bitcoin sites
Bitcoin sites are making every effort to ensure that they attract a larger patronage in comparison with standard casinos. For every player, a major determining factor in choosing their online casino is the variety of games offered. Sites that accept Bitcoin transactions strive to ensure that their services are better and offer an amazing array to choose from.
Live games- In a bid to recreate the traditional environment, online casinos have introduced live dealer game. These games create a virtual reality casino environment with a forum where you get to interact with other gamblers as you enjoy your daily dose of popular games and even a 3 Card Poker. Bitcoin websites have brought on board this concept and allow their clients to take part in the thrilling live action unfolding on their screens.
Slots- They have become a mainstay at every online casino and will usually record their highest number of visits. BTC sites are not lacking in their offering of online slots. You will find a vast array of games from some of the world renowned gaming software companies. The distinguishing factor, however, is the payout rate of Bitcoin slots which record an average payout rate of between 97% and 99%. With such statistics, every gamer with a taste for these games should check out our top list.
Roulette- This game is equally popular and you will find some roulette action going on in almost every lobby and casinos presented on this page offer some of the industry's best odds at their table games. You will find the complete variety of roulette including the most popular American and European versions.
Blackjack- All sites offer this very popular casino game. Blackjack is one of the traditional games commonly played even in brick and mortar casinos, so Bitcoin sites also offer a wide selection of variations that usually come with better odds.
Other games- Sites offer a similarly complete library of games which include popular titles such as video poker and dice games like craps that will ensure you a complete gambling experience. You can also find a number of mini-games and lotteries being offered.
Other products- Bottom line is that when offering to gamble with Bitcoin a casino not only offers a convenient and cheap payment method but the complete gaming experience one would expect at other fiat currency sites. So, in addition to mentioned games, you will also be able to place a sports bet. If even sportsbooks are not your thing majority of the sites listed in this guide also offer poker so you can play a few hands.
Benefits of playing with BTC in casino
The online casino industry, just like other internet based businesses, is taking note of new and innovative money transfer and payment options being offered. In the recent past, Bitcoin has seen an increased usage in online casinos as gamers look for alternatives that offer more secure and faster transfers. Conventional payment methods such as credit and debit cards have for long been prone to cybercrime and many online gamers have lost real money to identity thieves. Bitcoin comes in to assuage such worries and ensure a secure online gaming environment.
In addition, fiat currencies are prone to regular asset freezing by governments in several countries. This has largely affected the gaming industry especially in countries where online gambling is heavily regulated or even considered illegal. In such situations, gamers will have a really hard time finding a convenient method to make their casino deposits and withdrawals. Where such a method is available, it is heavily charged a service or transactional fee. Actually in some countries such as the USA, you cannot be allowed to gamble with funds in your credit card or even make a direct bank transfer to a gambling account. It in such situations that Bitcoin has largely helped.
Since it is unregulated by any government, it allows holders to make payments and transfer however and whenever they please. This means that even players in countries such as the USA can conveniently make BTC deposits and withdrawals. The level of anonymity offered by these transactions also means that any payment you make cannot be traced back to you.
The benefits of using in the online gaming industry are not limited to only the players. Operators also have a lot to gain, or save, by processing payments through the Bitcoin system. Processing funds transfers, whether during deposits or payouts, usually attracts very high service charges. In addition, when a player decides to make a withdrawal through conventional means such as bank transfers, e-wallets, and credit or debit cards, a transactional fee is charged. Most, if not all, online casinos will offer to cover these transactional costs in a bid to attract more patronage and also ensure more money is gambled at their site.
All these costs will subsequently have an effect on the overall revenues of the operator and therefore leave a relatively small profit margin. This perhaps explains why BTC deposits are increasingly being adopted by casino sites.
Another benefit is that all that casino need is to ensure they have your Bitcoin address and money transfer is processed fast and with no extra charges for you.
Also, the use of BTC does not require any identifications information and therefore assures utmost anonymity. This is also beneficial to operators since the online casino does not need to worry about losing your personal banking information and identification details in the event of a cyber attack.
Spending your winnings on e-commerce sites can be also considered as a benefit. Since the introduction of Bitcoin in the mainstream money markets, it has gradually gained widespread usage. This is an important fact for casino players because the majority of us like to shop online. With increased awareness of the conveniences, more and more online retailers are accepting payments in the form of virtual currency. This success can be attributed to Bitcoin main features such as anonymity in transactions, secure transfer protocols and lower transactional fees. In addition, processing transactions is relatively faster compared to conventional payment methods such as wire transfers that could take days to complete.
Companies such as Bit-X are offering Bitcoin debit cards that can be used to make payments just like ordinary ones. This makes it even much convenient since you do not have to access a Bitcoin exchange or your PC for every purchase you want to make. Also, mobile apps have been developed to make it even easier to use it in everyday transactions.
With all the benefits we mentioned it looks like that Bitcoin currency will have a bright future, and as we believe that more sites will add it as a payment option make sure to bookmark this guide and check it from time to time for updates.