The decentralized, simple, concept of bitcoin has contributed to the incorporation of this cryptocurrency in different markets.
One very prominent is the betting industry. The growth of bitcoin casinos has been remarkable in recent years. Easy access to cryptocurrency, its lack of legal control and improved rates are some of the reasons why this model has been so successful.
In addition, the probability that the price of bitcoin increases, encourages users to win in this cryptocurrency. Being such new services, bitcoin casinos usually offer benefits of deposits, bonuses and unbeatable commissions. In this guide we present a ranking of the best casinos and online betting sites.
What are bitcoin casinos?
The technology of the chain of blocks and the cryptocurrencies, you have originated parallel economic aspects. The fact of having a central authority that regulates its operation, its easy access and its decentralized nature, make the bitcoin an attractive option for online gambling and betting.
A bitcoin casino is nothing more than a common casino, which operates or accepts bitcoin payments (BTC).
Some casinos have added bitcoin as one of the options for depositing funds. Others, operate only in this cryptocurrency. Bitcoin is the pioneer and most popular cryptocurrency market. It was born in 2009 and, since its launch, has managed to multiply its value millions of times.
The Bitcoin network is operated by miners around the world. A miner is any person with computational resources who wants to contribute to this technology in exchange for benefits in BTC.
How do it work?
Bitcoin casinos work through automated software. The stochastic nature that well-designed software can provide is also used in bitcoin casinos. Much of the game is controlled by the software itself, and the intervention of people is very minimal.
The group of people who are part of an online betting environment is usually made up of users, regulators and customer service agents.
Most of these casinos create a customized Bitcoin Wallet for each user. You must use the address in this digital wallet to send your funds and recharge your account.
These platforms face the challenge of a lifetime: how reliable is your software? The marketing team of these casinos strives to prove that their sites are legitimate. But the best reference is the opinion of other users.
Of course, there are sites that try to cheat their users. Others are serious companies with experience in the world of betting. Online casinos offer games very similar to those of a real one, the most popular ones include: Texas hold’em poker, roulette and bingo.
Some sites offer free bonuses to start using their services. Generally, you will receive the bonus only if you make a minimum deposit. Certain sites offer fixed bonuses and others multiply their first deposit. Be careful! Review reviews, references and opinions on the site to check if it is safe and reliable.
It is important that you do not install unknown software on your computer either, so you will avoid hosting malware that could steal your information or funds.
When playing online, check the URL of the site and the SSL certificate before placing your username and password.
Are bitcoin bets legal?
This depends on the country from where you access the gaming services. Some countries have regulations that prevent access to this type of platform. In other countries, it is perfectly legal and regulated by the corresponding entities.
However, being a digital currency, it is almost impossible to keep track of who trades with bitcoins. In most countries, there is a legal vacuum in the use of cryptocurrency, so this activity can not be considered illegitimate.
How to buy bitcoins
Do you want to use any of these platforms but you still do not know how to buy bitcoin? Visit our official guide. Remember that, for the purposes of online games, you must buy bitcoins in an exchange. It’s the only way you can send funds to recharge your account. CFD services are something completely different.
Today there are hundreds of platforms that provide safe and reliable services. But there are also sites whose intention is to steal personal information and that do not have any regulation that allows them to operate legally.
When looking for bitcoin casinos, consider the fair play probabilities, regulations and of course, the performance and interface. Bonuses and promotions are also a plus when choosing a betting site.
Remember that the game is addictive and you must be very careful. Consider it a sporadic distraction and prevent it from becoming obsessive.