Until a few years ago, only a limited number of people knew about Bitcoin (BTC) and how it was about to disrupt online and off-line businesses across the globe. One of the biggest domains that Bitcoin is impacting these days is online gambling, an industry which was reportedly worth over $45 billion in 2017 and is expected to cross the $94.4 billion mark by 2024.
Online casinos are witnessing tremendous changes because of Bitcoin. This article will discuss the best Bitcoin casinos in 2021 and key points to keep in mind while shortlisting them.
Our List of the Top Bitcoin Casinos
Various users turn to Bitcoin simply to avoid the cumbersome regulations associated with the conventional online setups. Below is a list of some Bitcoin casinos, along with their advantages and features.
What Is a Bitcoin Casino?
In simple terms, a Bitcoin casino is an online casino which either accepts BTC as the only deposit/withdrawal medium or offers it as one of the payment methods alongside regular fiat currencies. Sometimes online casinos operating with blockchain technology at their core are also referred to as Bitcoin casinos. The main purpose of Bitcoin casinos is to cater to players who require a higher degree of anonymity and swift transactions while gambling on the internet.
Furthermore, Bitcoin gambling sites not only offer a comprehensive range of table games and slots, just like any regular online casino but also provide many Bitcoin-specific games with special features too.
How Do Bitcoin Casinos work?
When it comes to using a Bitcoin casino, you will have to first find one that not only accepts Bitcoin but is also reputed, secured and can be trusted with your money.
Except for the fact that you deposit and cash out funds in the form of BTC, the majority of crypto casinos function the same way as their traditional counterparts. You need to first register with the platform, then deposit funds with BTC, followed by playing the available games. Let’s go through these steps briefly below:
Registration – This step involves registering with the Bitcoin casino and normally takes only a few minutes. You might be asked just for a valid email address or other information too like your name, telephone number, address, identity proof etc. depending upon the KYC compliance measures adopted by the casino platform. The casino might also offer you an additional security layer through Two Factor Authentication (2FA). Please note, KYC-compliant platforms keep anti-social elements at bay and their stringent measures are in the players’ best interests. However, KYC does take away a lot from the anonymity/privacy aspect of the Bitcoin casinos.
Deposit of funds – Once the verification (email and/or otherwise) is complete, you’d need to deposit BTC into your casino account. This can be done by either purchasing Bitcoin directly from the casino platform (with fiat currencies and/or altcoin) or transferring it from your Bitcoin wallet.
Start playing – Once you have Bitcoin funds in your casino account, you can start playing real-money games on the platform. The casino might also have a dedicated section for Bitcoin-specific games.
Are Bitcoin Casinos Legal?
While the easy answer to this question would be a ‘Yes’, unfortunately, things aren’t that simple in the online gambling world! Many countries are yet to formally introduce Bitcoin-related and even general online gambling regulations, thus making Bitcoin gambling somewhat of a grey area. It’s neither officially prohibited nor legalised in most jurisdictions. For instance, it is illegal to run a Bitcoin casino from a US-based server, but many US residents play at online Bitcoin casinos incorporated and run from outside of the US.
It’s generally observed that the laws are stricter for operators than players. Nevertheless, you should refer to the rules in your respective country before proceeding to play at any Bitcoin casino. Additionally, you can check that the casino has been issued a license by a well-known gambling jurisdiction like the United Kingdom or Curacao. If your chosen platform is regulated by any such jurisdiction, it would most likely operate within its legal framework and would be deemed safe to play at.
Are Bitcoin Casinos Profitable?
It’s worth noting that most users have reported that playing at a Bitcoin casino has its own distinct set of advantages such as possible anonymity, reduced transaction costs, reportedly larger pay-outs, possibly better-winning odds etc. which can all potentially impact your gaming strategy and improve your overall cash-outs.
Other than that, just like any casino platform, you can adopt all possible and valid means to win more, for instance, gaming strategies for specific casino games, bankroll management methods etc.
Key Things to Consider when Choosing the Best Bitcoin Casinos
There are some key criteria you can use to choose the best Bitcoin casinos in 2021. Let’s look at some of these considerations below:
Payment terms – First and foremost, the casino should be accepting Bitcoin deposits and withdrawals for it to be called a Bitcoin casino! In addition, if you desire, it should also be accepting conversions from and to fiat currencies. Basically, the payment terms should be as per your requirements.
Provably fair – A Bitcoin casino is said to be provably fair if you can verify the fairness of its games’ outcomes in real-time. The Bitcoin casino will enable you to use blockchain technology to ensure that the Random Number Generator (RNG) of a specific game works as it is meant to.
Regulated and licensed – You should ensure that the Bitcoin casino you have in mind is regulated and licensed by a well-known authority of a reputed jurisdiction.
Customer support – The casino should be offering round-the-clock customer service (preferably) via multiple channels like email, live chat, social media and phone.
Bonuses – Almost all the reputed Bitcoin casinos offer attractive deposit bonuses today. Many even extend bonuses to new signups. Although it’s a healthy criterion to compare casinos on, you should also pay close attention to other aspects like customer service, user experience and customer satisfaction level.
User experience – The Bitcoin casino should offer a wide variety of games from well-known suppliers like Microgaming, NetEnt, Evolution Gaming, Play’nGO etc. Additionally, these games must be constantly updated and the platform must provide the latest offerings from the market as and when they are launched.
Pros and Cons of Using Bitcoin Casinos
Bitcoin casinos are evolving rapidly with time and their future seems bright as of now. Anyone who starts playing at these platforms will notice some interesting and distinct opportunities offered by them. Just ensure that you completely understand what you’re getting into. Users should check all aspects covered above before selecting a Bitcoin casino. To recap, we explained what Bitcoin casinos are, how they work, their legality, profit potential, key points to keep in mind when choosing them, pros & cons and the best Bitcoin casinos in 2021.
Frequently Asked Questions
Yes, there are many Bitcoin casinos that offer games for popular mobile platforms, including iPhones, Android and others.
Yes. Many Bitcoin casinos offer bonuses to new users who register on the platform.
No, the majority of Bitcoin casinos don’t require you to deposit any minimum sum. However, sometimes they might offer attractive bonuses if you deposit a certain amount of money/Bitcoins.
Majority of the Bitcoin casinos operate under the Antillephone license issued by Curacao. There are others that might be licensed by the UK Gambling Commission (UKGC) instead.
You can scroll down to the bottom of the casino’s homepage where you’re most likely to find this information.
Although the majority of BTC casinos accept players from everywhere, there can be some that impose country-specific restrictions. You must check with the corresponding casino platform before depositing any money.
As long as you are making deposits/withdrawals in Bitcoin, the transaction will get completed almost instantly. In case the amount is large, it may sometimes take up to 2 to 10 hours.
Yes, many casino platforms allow you to try out the games before playing them with real money.