Why Bitcoin Casinos are Better Options than Traditional Online Casinos

Bitcoin casinos and hybrid casinos that accept Bitcoin have become more and more popular over the last 5 to 8 years. The popularity of using crypto currencies like BTC, but also others such as Litecoin, Dogecoin, Ether, etc… made their way into online sportsbooks and casinos with great success.

So, what is it about Bitcoin Casinos that make them a better place to place wagers, gamble, and play your favorite casino games? Well, there is a list of pros and cons below that reflect the reasons most gamblers around the world prefer to use BTC over fiat (or hard) currency.

Pros

• Payout Rates are Better

Online Bitcoin casinos tend to offer higher payouts since their site has fewer costs than regular hard-currency gambling sites. There are no costs needed to obtain gambling licensing, for example.

• Legal Aspect

Bitcoin (BTC) is not an official currency, so gambling and playing games of hazard is not directly illegal. The U.S. and other countries sometimes have gray areas where Bitcoin gambling is concerned — so, while online gambling is illegal in this jurisdiction, Bitcoin gambling is not and there is virtually a zero percent chance that you will get in trouble — this is mainly due to the next positive aspect most players love about Bitcoin casinos.

• Anonymous Transactions

The anonymity of Bitcoin casinos are one of the most popular aspects of these cryptocurrency casinos — this is a huge strength that offers players an anonymous option to gamble online and use BTC as currency without having to enter any personal information or banking information.

In addition, a strength of Bitcoin is present in the casino transactions as well. You can deposit and cashout via e-wallets and transfer your BTC easily, instantaneously, and without fees.

Not all Bitcoin casinos are completely anonymous with their signups, so take a look at the registration process in our reviews on this website or when heading to a new Bitcoin casino, take a look to see what information they require upon signup.

Anonymous gambling via Bitcoin is most popular among players from typically-restricted countries like the U.S. and U.K., where gambling with traditional currency online is prohibited. Bitcoin gambling offers a way around this.

• Faster Transactions

Bitcoin transactions occur very quickly, and this is a huge bonus to BTC gambling websites. When depositing and withdrawing your funds, online Bitcoin casinos can get you gambling quicker and cashing out instantaneously. Alternatively, traditional fiat/hard currency gambling sites can take days and days to set your account up with money, and a lot longer to allow you to withdrawal your funds — processing times become tedious in traditional casinos — with Bitcoin casinos, transactions are instant in nearly all cases.

• No Transaction Fees

Costs for deposits and cashing out are non-existent. Rather than having to pay fees as you typically do with traditional online casinos, Bitcoin casinos use e-wallets to transfer BTC into your account. This process is immediate and you don’t have to wait. It is also safer and since you are not using your debit or credit card, there is no chance that your funding could be rejected because it comes from a gambling site.

• No Tax Issues

Regardless of where you reside, your government will not and cannot tax you, even if they magically had this information and wanted to. This is because you don’t need to set your real name when opening for a Bitcoin casino account and in many cases, you don’t need a name at all — just an email address. Also, Bitcoin is anonymous and your e-wallet is safe from prying eyes — including the governments.

Most traditional hard-currency online casinos ask for bank account information, personal information, official ID, a copy of credit cards, and even passports. No thanks! Bitcoin can save you from this.

Cons

As with anything, there are always potential cons, depending on if these issues matter to you as an online gambler.

• Lack of Regulation

With Bitcoin casinos, there is less regulation — no one is observing everything that is happening when it comes to any Bitcoin-based business. Since there is less regulation, it is up to you to read unbiased reviews, keep an eye out, and make a decision about an online casino yourself. Take care in choosing the right BTC Casino for you. Only try your luck on reliable, stable, and online casinos that have a good track record of paying out to players. Also check the “Blacklists” which have up-to-date information on casinos to avoid and to watch out for.

• No Official Gambling License

Since there is less regulation and just about no standards on Bitcoin gaming, there may be platforms out there that may try to cheat you. This is why it is important to check recent Bitcoin Casino Blacklists, check their reputations online yourself, read reviews, and see what other players’ experiences have been before you play on their platforms and deposit money.

Source: www.bitcoin-gambling.net

The Real Differences Between Online Casinos and Bitcoin Casinos

 

If you are new to gambling of any type but are interested in gambling online, you have likely already looked on the web for different casinos and sportsbooks you can play at. If you have found this article, you have searched well — but with hundreds of options out there, you probably need a little help deciding.

One of the most important decisions is whether you want to gamble at a traditional online casino or a Bitcoin casino. As a Bitcoin review and informational website, we can definitely tell you that the safest way to gamble is via Bitcoin. If you don’t have any Bitcoin (BTC), don’t worry — it isn’t as difficult as it may seem to acquire some to gamble.

First things first: Bitcoin casinos are far safer in terms of transactions, both when depositing and cashing out. At online casinos that use cash, your bank could decline your transaction due to online gambling laws. And your winnings could be confiscated if you are caught gambling via hard (fiat) currency.

However, with Bitcoin, your gambling is anonymous and your funds are never tied to you by name. Nor is your account if you choose the right Bitcoin casino. Using a Bitcoin casino means you can curtail the online gambling laws that exist in places like the U.S., U.K., Australia, and so on — this means Bitcoin gambling is legal (well, it’s a grey area, but no one can take action or take your Bitcoin — they couldn’t anyways since your name and information are never attached to your Bitcoin).

Let’s take a look at more differences between traditional online casinos and Bitcoin casinos to see which is the best fit for you.

Currency

As we just went over a bit, one of the main differences between online casinos and Bitcoin casinos is the types of currency used to make deposits and withdrawals. Bitcoin casinos are the best bet since they only process deposits and withdrawals using BTC; where online casinos only use credit cards and bank transfers to use hard cash (e.g., USD, GBP, EUR, and so on). Bitcoin casinos only deal in Bitcoins (BTC) for a variety of reasons.

First, there aren’t any transaction fees when you deposit or cash out using BTC. When you gamble on traditional online casinos with other forms of currency, you likely will end up paying transaction or processing fees every time you deposit or withdrawal.

Secondly, processing time for Bitcoin is instant in nearly all cases — but for regular currency, you will wait at a minimum of hours (but more likely days) to process. Many forms of cashing out (like checks) can take weeks. Playing at Bitcoin casinos means that transactions are instant because the deposits and withdrawals simply go directly to and from your anonymous Bitcoin wallet.

Finally, Bitcoin casinos are far safer options to gamble, both in terms of your identity remaining secret and your Bitcoins being safe. Bitcoin transactions are anonymous and highly encrypted, so it is virtually impossible for anyone to steal your Bitcoins. Online casinos, however, are not anonymous and many forms aren’t secure. This makes you more vulnerable to scams or straight out thefts (especially if you use a credit or debit card online).

Advantages of Gambling at Bitcoin Casinos

When enjoying a Bitcoin casino, you have the ability to win additional Bitcoin with your earnings. Even if traditional online casinos allow you to make transactions via BTC, they will also only offer you the ability to withdrawal with cash only in exchange for the use of Bitcoins.

If you have been taking a look at the value of Bitcoins lately, you will know that its value continues to skyrocket. This means that if you hit jackpots and earn bonuses in BTC rather than other forms of currency, you are winning more money at a Bitcoin casino than you would be at a traditional online casino.

Withdrawal limits — traditional online casinos often have rules that limit the amount of winnings you can actually cash out per day. The processing time for transactions at online casinos also vary. Players at Bitcoin casinos, however, never have to worry about withdrawal limits and all of the transactions are instant (no waiting).

These are two huge advantages for players who want to win jackpots or high rollers who want to make large wagers without any house restrictions.

Conclusion: Bitcoin Casinos are Simply the Better Choice

These are two huge advantages for players who want to win jackpots or high rollers who want to make large wagers without any house restrictions.

Waiting for funds or your winnings are not fun. Nor is paying fees just to make a transaction — you can avoid waiting and fees by using Bitcoin to gamble. Also, as the value of Bitcoin rises, the BTC you have yet to deposit ends up being valued more than regular currency, which means you end up gambling and winning more money.

There are many differences between traditional online casinos and Bitcoin casinos, but one of the more important parts of BTC casinos (for most players) are: the instant transactions and the anonymous nature of gambling and using Bitcoin at these casinos.

Gambling in Bitcoin: The Perspective of Bitcoin Casino Owners

 

There’s no denying that the digital currency Bitcoin, has become more relevant as trade on virtual platforms continues to grow and expand. While Bitcoin does have its ups and downs, just like any other currency that is at risk of inflation and devaluation, it is still considered the future of currency. One of the most positive aspects of Bitcoin is its role in online gambling. This cryptocurrency is beloved by gamblers and online players due to the anonymity it allows and its ability to fluctuate in the market (potentially leading to greater value). Online gamblers who play at Bitcoin casinos have the advantage of receiving promotions that cash players cannot, as well as the benefit of of easy deposits and cash outs. 

Thousands of businesses around the world now accept the cryptocurrency. It took a while for this to occur, as Bitcoin had to shed its former image as a currency used as payment for illegal goods online. When Bitcoin was introduced, the anonymity was taken advantage of by individuals who used it online in a less than reputable fashion. However, the current Bitcoin usage has finally taken its legitimate foothold on the online currency stage as a popular and safe way to make transactions online.

In fact, reputable e-commerce businesses are beginning to accept Bitcoin as payment, including suppliers of Etsy, WordPress, Overstock, and Amazon. This only lends additional faith in the future of Bitcoin, which is great news for those who prefer to gamble online using Bitcoin. 

Gamblers and Gamers: Concerns Relieved

It is after all of the growth Bitcoin has gone through to get to its legitimate place in e-commerce that has finally allowed individuals to feel safe using it online. Nobody wants to put their hard earned money in an account and gamble it if they are unsure they will be paid properly and securely. Since BTC has legitimized itself on selling platforms that are trusted by the public, such as Amazon and Overstock, more and more people have invested in this cryptocurrency with complete faith in its value.

So now gaming firms such as Bitcoin Casinos, are making a killing for themselves and their players, by the use of Bitcoin despite the recent bad press it had received such as the bankruptcy of Mt. Gox, the whole Silk Road investigation with the FBI, and the more recent $72 million bitcoin heist in Hong Kong. Despite a few bad apples out there, Bitcoin is safer to use than traditional currency, which is often hacked and stolen online. 

BetChain and the Confidence in the Bitcoin Market

For Nick Garner of Oshi Casino, he is betting on Bitcoin because the cryptocurrency is something that is integral to the way the internet is going.

Mr. Garner has a front row seat to the online use of Bitcoin, as he utilizes it in his Oshi Casino (a Bitcoin casino) himself. Mr. Garner has said that Bitcoin remains to be the most transparent commodity since “[…] each transaction trace is left in a public ledger known as Blockchain.” What this does, essentially, is helps prevent people from spending the Bitcoins themselves more than once. Think of it this way: if you purchase something online, the equivalent of Blockchain would be your Banking Institution that holds your money — they prevent you from spending the balance in your account more than once by keeping track of your transactions. The best thing about Bitcoin and Blockchain is that they can still do this using unique codes for each BTC and still maintain your anonymity.

Garner also pointed out that Bitcoin transactions are faster and quicker. And they certainly are.

“But anyway, there’s a whole bunch of reasons why bitcoin was interesting, but underneath all that is just the basics of running a casino […] And the bitcoin is really important, because it’s been a niche for us so we find a little spot and we are able to go.”

-Nick Garner, Oshi Casino

Citing his experience as an operator of bitcoin casino, Garner said customers value what he call a “trust footprint.” He pointed out that they have invested heavily in gaming providers in order to assure their players that they are valued.

What the evolution of Bitcoin has done is to hold accountable the users of Bitcoin and to assure Bitcoin gamblers that if gambling on a Bitcoin Casino site such as Oshi Casino, that they know real people are there to help if there is a problem. They do this by using big providers and companies such as MicroGaming and NetEnt. As Garner has stated, these are “not cheap assistant(s), we can’t fiddle around with the RNG numbers on the back end of their games cause we can’t.”

This makes the fundamentals of trustworthiness sprout — you will get a return to player of between 95 and 97.5 percent.

Conclusion

Bitcoin has come a long way from its journey as the new cryptocurrency on the block into a legitimate and widely used source of real currency online. With every month comes additional securities, assurances, in-house oversight, and other methods that are keeping Bitcoin out on the market as the best alternative to traditional cash available.