An Overview of Bitcoin Casinos
Bitcoin casinos are online casinos that accept the digital currency Bitcoins when it comes to player deposits. Withdrawals are also performed using Bitcoin and this makes the whole process faster as there is often a small waiting period when players use traditional currency at their favorite online casino.
As transactions made using Bitcoins can be performed anonymously, it is becoming a growing trend for online casinos to accept them. The use of this digital currency appeals to those who don’t like the idea of using their credit or debit card for online gambling. They enjoy being able to stay anonymous and can often deposit and withdraw money without the state they live in being made aware that they are. This is important because in many states online gambling and casinos have been outlawed.
The odds of winning at any casino are never as high as players would like them to be. Yet players will find that they have better odds of winning when they bet at a Bitcoin casino. This is due to the fact that payment processing costs for regular online casinos are high, but there is no cost associated with Bitcoin casinos since the transactions are immediate. Since Bitcoin casinos aren’t spending money on these processing costs they have more money to give to players in the forms of beneficial promotions and bonuses.
“As far as promotions go, Bitcoin casinos work the same as non-Bitcoin casinos.”
As far as promotions go, Bitcoin casinos work the same as non-Bitcoin casinos. Those players who use the digital currency to make their deposits will get the same promotions and bonus money that players using traditional currency get as well.
Another huge benefit of playing at a Bitcoin casino over a non-Bitcoin casino is that the former boasts games that are provably fair. This means that it is impossible for any of the casino’s games to be rigged to prevent players from winning. Reputable Bitcoin casinos are equipped with a built-in tool that confirms to players that a game’s outcome is random 100% of the time. The tool cannot be overridden by players or by casino operators. When searching for a Bitcoin casino players should be sure to determine if it uses provably fair games. If the answer cannot be found on the casino’s website, communicating with its customer service department will help players find out whether or not the casino offers these types of games to its members.
Unlike other online casinos that have to be licensed in order to operate legally, Bitcoin casinos are not required to, as Bitcoins are not regulated by the government as traditional currency is. Those Bitcoin casinos that are unlicensed are still required to obtain the games they offer players, through reputable gaming providers known for creating Bitcoin friendly games.
While not all Bitcoin casinos have to be licensed, some casino operators choose to obtain the proper licenses anyway. They often do this so that players know the casino is trustworthy and will provide them with a quality online gambling experience. It opens the casino operators up to being able to work with bigger game content and software provider companies that wouldn’t work with them if they were unlicensed. In the case of Bitcoin casinos that primarily use stand-alone scripts and proprietary software, industry experts advise against the casinos becoming licensed.
Time will tell if, in the future, all Bitcoin casinos will have to be properly licensed. Countries such as Spain have already enacted a rule requiring Bitcoin casinos to be licensed as any other online casino is. Other countries may or may not follow Spain’s example and begin to require online licensing.