With bitcoin firmly in the daily news cycle it seems like a good time to dig deeper into the rising popularity of bitcoin casino gaming. Online casinos are already hugely popular all over the world. Instead of visiting your local gambling room or a big casino resort, you can play slots, blackjack and roulette wherever you are. If you are already an online casino player you will have noticed more and more sites are now offering bitcoin as a deposit and withdrawal method. So with that, we ask the question – what is a bitcoin casino? And what advantages do they offer players?
The bitcoin casino experience
Bitcoin casinos offer users all the same entertainment of an online casino, and at the same time they provide anonymity to players. They offer online casino players an identical experience in terms of what kinds of casino games they can play. The game suite includes live dealer casino games, video slots, video poker, punto banco, blackjack, roulette and more. However, bitcoin users will be able to deposit much more, usually claim bigger bonuses, and withdraw their winnings much quicker than conventional banking methods. A casino might take up to a week to process your withdrawal normally. With crypto it might only take a few minutes. You will need to provide much less data in order to create an account at a bitcoin casino. This is also very appealing to many users. Especially those who are playing in jurisdictions where gambling is not permitted. In summary, you get the same great online casino experience, but without limits. You’ll also get lower fees and more simple transactions.
How to find a bitcoin casino
Many online casinos offer fiat and crypto currencies. Some specialize in purely crypto. Almost always this will include bitcoin. Crypto casinos often accept Ethereum, Litecoin, Monero and Dash. Naturally you’re not just looking for an online casino that supports crypto. You also want to be sure they have a great selection of games, fair gameplay, good promotions and helpful customer service. To make sure you don’t sign up with a rogue casino it’s best to check a major bitcoin casino review site for recommendations.
The rise in popularity of bitcoin casinos
Bitcoin cryptocurrency has been adopted by many investors and players. Everyone is aware of it and probably by now has a basic understanding of what it is and how it works. This digital currency has no central control and is not regulated by banks or governments.
Over the last 10 years online gambling rules have changed. Regulation in some markets has seen tighter restrictions imposed on casino operators and players. Some of these regulations impose limits on how much a player can deposit. Others require players to prove where their gambling funds are derived from. These restrictions have driven some players to move away from mainstream sites. They have opted to seek out alternative options for making their casino deposits. Bitcoin casinos and other cryptocurrency casino sites offer players a way to keep their transactions away from the banks. It also means players can deposit much higher amounts without being restricted. Bitcoin casinos are becoming more popular not only because more people have crypto wallets and bitcoin funds, but because they are seeking an alternative, untracked and unrestricted way to play casino online.
Volatility & online casino gambling
We talk about volatility a lot in casinos, especially when it comes to slot games. Some players love the thrill of a high volatility game. Crypto investors are holding on tight to this ride too. Bitcoin has been in the news almost constantly since the covid pandemic. During this time many small time investors or day traders started getting in on the action. In turn this helped push the price up, Bitcoin has showed a record high value of $68,000 in November 2021. However, recently the crypto crash of 2022 has brought bitcoin down to $20,000. Some are forecasting a return to $10,000 and others tout that bitcoin will climb back up to $52,000 by 2023. This article will probably not date well since market predictions vary so wildly!
Those that enjoy the volatility of crypto trading may also find excitement in online casinos. Whilst the market is extremely bearish, traders may not find much opportunity. Playing at a bitcoin casino is one way to potentially increase the value of your bitcoin wallet. However, we strongly urge all players to only gamble for entertainment. Bitcoin casino gambling is not a way to earn revenue and should not be used to chase one’s losses.