When it comes to cryptocurrencies, Bitcoin is the first thing that comes to mind. This digital gold has already a high influence on all spheres of human life, but in the gambling industry, the appearance of Bitcoin made a revolution. It has moved anonymity and security level into a new stage and you can be sure that participation in gambling with bitcoin has no chances of somebody’s involvement in your finance.
It seems pretty obvious that the main users of bitcoin (players who use bitcoin for online gambling) are young people, for whom innovations and high technologies in everyday life are a matter of course. And perfectly understanding the benefits and even the necessity of all of the above, crypto-gambling site managers try to embody the latest advances in modern technologies on their platforms, which makes the industry very attractive in terms of innovation.
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As a result of these two factors, the developers of bitcoin gambling games are always working hard to attract the attention of modern and demanding audiences. One of the results of this hard work is provably fair games, which allow players to check the fairness of the draw (see more details here). In addition to games, innovation has also touched organizational processes.
Those who often was making deposits or withdrawals in online casinos know that you have to wait an inexplicably long time. In addition, the commissions are unreasonably high, and sometimes there is a feeling that payment services take money literally for the air. Due to the absence of the necessity to contact intermediaries, bitcoin online gambling is devoid of this problem, since payments are made directly from your account to the casino account. But as always there is a fly in the ointment, and in the case of online bitcoin gambling, this is a license.
Bitcoin gambling legality and licensing
A gambling license is a stumbling block for any casino. it’s required to open a corporate account with a bank or other financial institution and officially work with electronic payment systems. Also, the license is a guarantee for the players that their interests will be protected. However, a license is always very expensive, which in turn results in high start-up costs as well as ongoing costs for the casino.
For players, this means fewer bonuses, bigger wagering, higher minimum deposits, and rates. However, in the case of bitcoin gambling sites, all payment processing can be performed using cryptocurrency without the participation of banking services, and therefore a corporate account, and it seems that license is unnecessary. Plus, in some countries, there are additional difficulties, for example, in the United States. Since licenses for gambling are issued independently by each state, that means, the particular online casino may be licensed in one state and not have the legal right to operate in another. Because of this, many players face a problem, as they are looking for bitcoin gambling USA, and there are a lot of such sites, but they can’t get access to them. As for advice, we would recommend searching for casinos or sportsbooks according to your state.
As a result, some bitcoin casinos refuse to license at all and work in a gray manner, thus avoiding all of the above problems. But we strongly advise against playing or even making a deposit on such sites. Of course, they will offer the largest welcome packages with minimal wagers and sign up without verification. But at the same time, you run the risk to get on scammers and simply losing your money. In addition, it’s not necessary to rush from one extremeness to another, from bitcoin gambling legal sites to illegal, because there is an alternative option.
The license has two purposes, on the one hand, to check and confirm that a particular BTC gambling site is legal, and on the other hand, to get money for it. But on the part of the player, we are only interested in checking for honesty. Therefore when you choose BTC gambling sites, try to find casinos with proven but not from famous authorities. By the way, websites that get rewarded as the best BTC gambling site of the year, usually have the Curacao gambling license. Obtaining such a document costs much less, but at the same time, the casino site undergoes the same checks as when obtaining more reputable licenses.
Best bitcoin gambling sites
Most gambling bitcoin sites that we recommend are licensed from Curacao, which is an intermediate alternative between expensive white gambling and illegal casinos. Why? On the one hand, in order to get even this license, casinos are being tested, on the other hand, the price for such license is much lower. If we are already talking about choosing a bitcoin gambling site, don’t forget about other factors besides the license. The main of them:
- Safety. Each casino must have reliable online security. Make sure that the casino has SSL protection;
- Fairness. You should play only in such casinos where all outcomes are set out by a random number generator;
- The number of games. The more games available in a club, the better. If you like sports betting, you can find a club with a sportsbook;
- Banking options. Casinos must provide their players with a wide range of different payment methods;
- Customer support. Fast and qualitative service is a very good sign. If you have any problem, the support team will solve it fast.
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Okay, I think we figured out the basic principles of finding a reliable, safe, and at the same time generous bitcoin gambling site. Now let’s summarize all of them as a list with pros and cons and also in the end of the page you’ll find the frequency ask the question.
Advantages and disadvantages of bitcoin gambling
Using bitcoin for gambling bets has both significant advantages and some disadvantages. Let’s dwell on the main ones:
- Fast and convenient registration;
- ID verification is optional;
- The anonymity of the game;
- Ability to play with bitcoin players from all over the world without restrictions.
- Bitcoin price still has high volatility;
- Due to the growing popularity of bitcoin, the governments of many countries have already begun to develop plans to control the finances of bitcoin owners, which means sooner or later all the advantages of bitcoin will be leveled.
Frequently Asked Questions about Bitcoin gambling