Even if we go back just a couple of decades, all casino players usually needed to go to a real physical location to wager and play with real money. As cryptocurrencies came into the picture, they changed the way the gambling industry works, right on its head. Over the past few years, as the value of Bitcoin increased dramatically, people slowly started to make more transactions using it and became more confident about it. It gave the gambling industry the chance to shift its focus towards the concept of online casinos. Virtual betting took off, and soon enough, the gambling business started reaching astronomical heights, something that it could never have even dreamed of in the past. A few of the brightest minds in the industry kept tinkering with the latest technology trends like the blockchain.
Even though all of the crypto casinos are great innovations that the mainstream media simply can’t get enough of, it is the humble bitcoin casino that is the real ‘game-changer, with Bitcoin being the most popular among all the cryptocurrencies. So, let’s take a look at what Bitcoin Casinos are and if they are really worth all the attention that they enjoy at present.
What Are Bitcoin Casinos?
Bitcoin casinos refer to online casinos where Bitcoin is the only accepted form of currency. They have a whole variety of bespoke games and services on offer for players looking to transact in Bitcoin instead of regular fiat currency. The thing with Bitcoin casinos is that they will also provide you with all the traditional casino fairs like roulette, blackjack, slots, etc. On top of that, these casinos also allow you to explore other great stuff like sports-based betting, online lotteries, or even spread betting. This proves that even though Bitcoin casinos are not much different from other types of casinos, they stand to offer you a whole lot more. The only big difference that you will find at a Bitcoin casino is that you will be offered an in-house cryptocurrency (Bitcoin) wallet that you must use to store all of your Bitcoin.
You can place a bet by using the money in your wallet, and just like all of the other gambling models, you will either lose or win on the basis of how you fare in the game(s). In case things do not go your way, you will lose your bets. However, in case you win, your gains are sent directly to your in-house cryptocurrency wallet. Owing to the fact that the transactions are digital (both deposits and withdrawals), there is no delay or complications, like transactions blocked by banks. After that, you can then move your money to your private wallet, from the in-house one, whenever you wish to. In general, this private wallet is regulated and independently owned by you. A few of the Bitcoin casinos have a fixed withdrawal limit that prevents you from cashing out all of your winnings in one go.
The Features That Make Bitcoin Casinos So Popular
As seen before, it is undeniable that Bitcoin Casinos come with their set of drawbacks, albeit a few. Also, there is always a chance that Bitcoin will lose its entire value at some time in the future. Having said that, Bitcoin Casinos still enjoy huge popularity amongst the digital gambling community. Here are the reasons why –
- Private and Secure
Bitcoin casinos feature anonymous, secure, and private transactions that allow for all the players to bypass third parties like central banks and other such intermediaries. Since there are no strict requirements, it is quite simple to play at Bitcoin casinos. This is due to the fact that you just transfer Bitcoin to the casinos’ designated wallet(s) and then enjoy ‘real-money” casino games. The only trace of your activities that would be left would be your Cryptocurrency address. There is also no requirement for divulging sensitive personal information, including age, ID documents, utility bills, or any of your banking information. This means that the users are protected from the identity theft other gambling models are often plagued by. All you need is a functional VPN and burner email. Your passwords will remain protected, and you’re free to explore Bitcoin casinos with maximum privacy and no fear of data theft.
- More Control
Bitcoin casinos offer players more control over their funds, making them even more popular among users. This means they are spared from the hassles and delays that emerge with the use of traditional monetary systems for making deposits. All of these are possible thanks to the presence of the Blockchain Network. You gain more control since you’re at the helm of your transactions, and you need not pay any surcharges while you play.
- No Geolocation-based Restrictions
Geolocation-based restrictions can become an important factor when it comes to online gambling. It is one of the biggest flaws when it comes to the online casino model. Fortunately, players on Bitcoin casinos do not have to worry about facing this issue. The Bitcoin casinos are designed to bypass all of the regulatory constraints that are imposed by the authorities. So, you are free to enjoy all your favorite online games, no matter where you may be located on the planet, as long as you possess a stable internet connection and some Bitcoin for wagering.
- Great Bonuses
Once you have met their wagering requirements, Bitcoin Casinos offer you a huge variety of generous bonuses when playing there. Depending on each bitcoin casino website, you stand to get bonuses like redeposit bonuses, or multi-deposits bonuses, or matching deposit bonuses, or free spins, and others.
Final Thoughts
It is important to keep in mind that there will be issues that you must be careful about regarding Bitcoin Casinos. For example, several of the Bitcoin Casinos will not have any welcome bonuses for the new players who make their deposits in cryptos. A few others will attach a set of strict rules and regulations that will reduce your chances of winning, like reduced odds, forfeited winnings, etc. However, having said all that, the benefits of Bitcoin Casinos far outweigh their cons. Players have the freedom to engage in online gambling from any given location on the face of the earth and enjoy a plethora of bonuses, absolutely securely.
