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It is becoming more and more common to find online casinos that accept Bitcoin for gambling such as bitcoin blackjack. Bitcoin and other cryptocurrencies can be a good choice for the online gambler that wants to preserve some anonymity. Using Bitcoin can also be good for players from the United States who may not be able to make fiat deposits at offshore casinos.
We receive many emails from those who have questions about Bitcoin gambling online. This Bitcoin casino FAQ was designed to answer most of those questions. If you have a question that has not been answered on this list, please feel free to contact us directly or by posting a comment below so that we can add it to the Bitcoin casino FAQ below.
Online casinos make their own determinations when it comes to accepting US players. Most offshore casinos that accept Bitcoin welcome players from the US with open arms. American players should always check with their local jurisdiction to determine the legality of online gambling, but playing at an offshore casino with Bitcoin is an option for most US gamblers.
This amount varies from casino to casino, but many players like to make a minimum deposit of 1 BTC. However, most casinos will allow players to deposit less than one full Bitcoin. The amount of Bitcoin one deposits is generally calculated at the current exchange rate. It can often be to the player’s advantage to deposit at least a full Bitcoin because many online Bitcoin casinos will match the player’s first deposit up to a certain amount. Read more on Bitcoin Casino deposits here.
The provably fair model of Bitcoin casino gaming is becoming the standard among all licensed casinos. In this type of casino the software that is used to provide the random results of online casino games can be examined to determine fairness. The algorithms of the software are made available for online casino players and regulators to view. Anyone can look at the results of previous games to see if the results are fair.
Would you give a bank or institution your hard-earned money without being informed about the credentials the bank possesses? The same can be said for an online casino. You do not want to do business with a Bitcoin casino online that is not fully licensed. You have every right to check the licensing of the casino, and you can also pay close attention to the reviews that a casino has received from former players.
BTC is the designation for a full unit of Bitcoin. The mBTC designation is given to a millibitcoin which amounts to 1/1000 of one Bitcoin. This is generally indicated by the 0.001 BTC number. Likewise, the uBTC is 1/1,000,000 of a BTC and is represented as 0.000001 BTC. These fractions are used by many online Bitcoin casinos so that players can deposit less than a full Bitcoin.
Responsibility in any type of online gambling ultimately rests with the player. Some Bitcoin casinos have measures in place to assist those who think they may have an issue with problem gambling. A player can often receive resources to help with their gambling addiction by asking the casino to provide the number to a helpline or other service. A Bitcoin casino may also allow a player to place themselves on a banned player list. At the end of the day, you should seek help if you have a gambling addiction.
The blockchain is the digital record of all Bitcoin transactions. When you use Bitcoin to make a wagering deposit at a Bitcoin casino, a record of your transaction will be preserved on the blockchain. That is where the blockchain’s involvement with the Bitcoin casino ends. The Bitcoin that you deposit at the online casino is generally converted to fiat currency before you begin to wager. Likewise, your withdrawal will be converted back to Bitcoin when you are ready to take out of the online casino.
Bitcoin casinos offer some of the best bonuses to be found in online casinos! Some of these casinos will match your Bitcoin deposit one for one up to five Bitcoin! That is a very large amount of bonus money that you can use to play all of your favorite online casino games like blackjack, roulette, and baccarat. There is generally a wagering requirement that casinos ask you to complete before you can withdraw the free bonus Bitcoin money.
Some Bitcoin casinos are now accepting other cryptocurrencies such as Ethereum, Litecoin, and Ripple. As cryptocurrency becomes more popular throughout the world it is expected that online casinos will begin to accept different kinds of tokens. If you have other types of cryptocurrency and you would like to play at a Bitcoin casino, there is no problem. All you need to do is use a cryptocurrency exchange to swap your other tokens for Bitcoin.
Using Bitcoin to gamble online does help to reduce the paper trail that is created with other deposit methods. It can indeed be more difficult to tie you to a Bitcoin transaction than it is to link you to a credit card or debit card deposit. Still, you should know that most online Bitcoin casinos will require you to provide some types of personal information before you create an account. It is possible that your Bitcoin wallet could be linked to those details.
Most online casinos are adding Bitcoin to their list of deposit options as an alternative. The more ways players can make their deposits at online casinos, the better it is for the casino. It is unlikely that online casinos will ever completely eliminate credit or debit cards from their list of options, but there may come a day when a Bitcoin-only casino becomes a reality.
There are many BTC casinos which offer free versions of their online casino games. Players can play blackjack, roulette, or other games without having to risk any real Bitcoin. Of course, free-to-play online Bitcoin casino games do not allow the player to win real money. They only award credits that players can use for other games.
The registration process at an online Bitcoin casino is very simple. It involves providing a few personal details and an email address. You will then be asked to verify the email address before you can log in with the username and password that you have chosen. A Bitcoin casino may ask you to verify your name and address before you are permitted to make withdrawals. Some online casinos may want you to provide a copy of an ID. In some other cases you will be allowed to sign up without this type of verification. You will then make your Bitcoin deposit to use for playing online casino games.
Bitcoin (BTC) can be broken down into smaller units including millibitcoin (mBTC) and microbitcoin (uBTC) which equate to 1/1000 and 1/1,000,000 of a BTC respectively.
Bitcoin casinos often use a provably fair model where the algorithms providing random game results can be examined by players and regulators, ensuring fairness.
Bitcoin transactions are recorded on a blockchain. However, the involvement of blockchain ends there as deposited Bitcoins are usually converted to fiat currency for wagering
The legality of Bitcoin casinos varies, and while some offshore casinos accept US players, it’s advised to check local jurisdiction laws regarding online gambling.
Bitcoin casinos may offer deposit bonuses, matching your deposit up to a certain amount, although wagering requirements may apply before withdrawing bonus funds.
Some Bitcoin casinos offer self-exclusion options or other responsible gambling measures to assist players in managing their gambling behavior.