What is Bitcoin gambling?
What it says on the tin: gambling with your bitcoins. The increasing popularity of bitcoin combined with its anonymous spending capabilities has made it very attractive for the world of online gambling. Various platforms are allowing users to deposit bitcoins and use them to gamble instead of ‘normal’ fiat currencies.
How do Bitcoin gambling sites work?
Bitcoin gambling sites work like the regular gambling sites, only that they accept payments in bitcoin instead of fiat currency. Some sites only accept only bitcoin, whereas others will accept a number of payment methods with bitcoin included. Usually, you will need to create an account and transfer bitcoin from your wallet, just like with a regular gambling site.
What different ways can I gamble with my bitcoin?
- Online casinos. You can sign up to an online casino that support bitcoin and use your bitcoins to play the available games such as blackjack, slots, poker, lottery, satoshi/bitcoin dice, faucet games, and many more.
- Betting sites. You can bet on almost anything with bitcoin, from sports to politics, from the economy/stocks to the weather. There are sites for just about anything.
- eSports betting. Bitcoin is making big inroads into eSports betting. You can use your bitcoins to bet on eSports such as League of Legends (LOL), FIFA, Call of Duty (COD), and World of Tanks, among many others.
- Bingo. Lots of bitcoin bingo halls have sprung up online. You can use your btc to play bingo, keno games, and other games with varying number of balls in many online casinos.
- Poker. Using bitcoin when playing poker has been one of the currency’s most popular uses because it enables secure peer-to-peer exchanges. You can engage in tournaments and play many different varieties of poker with your bitcoins online now.
- Extra games. There are many games that have developed specifically around Bitcoin, such as bitcoin dice, lottery games, and many ‘faucet’ games (in which you complete tasks to earn tiny fractions of bitcoin that can be used to test out games).
Find gambling bonus codes and free bets
Most bitcoin gambling sites offer unique bonuses and free bets to both new and existing users. Some will reward you with a bonus upon your first deposit, often doubling your deposit up to around 1 btc. Others will give you chances to take free spins/bets, allowing you to keep/withdraw all your winnings. Check out our table and reviews for the best platforms to use for the best bonuses.
Is depositing and withdrawing faster with Bitcoin gambling?
Yes. One of the main advantages of gambling using bitcoin is that your transactions will be processed almost instantly. This includes both depositing and withdrawing. The exact withdrawal and deposit speed will depend on your chosen site, but generally these actions are faster on bitcoin gambling sites than regular ones.
Are there limits on Bitcoin gambling sites?
Yes, the vast majority of sites have both withdrawal/deposit and betting limits. In bitcoin casinos there will usually be a range of different limits for each game you wish to play; with sports or other bets the limit will largely depend on the site. Most bitcoin betting sites do not list their betting limits due to the fluctuations in the price of bitcoin, but it’s common for limits to be around 5BTC per bet.
When it comes to withdrawal and deposit limits, again it’s heavily site dependent. There are sites that allow you to withdraw up to 50BTC a a day and have minimum withdrawal/deposit limits around 0.001BTC. As with betting limits, minimum and maximum withdrawal limits are often not listed due to fluctuations in the price of bitcoin.
What are the transaction fees?
It’s common for there to be no transaction fees, but some casinos charge you a flat fee for withdrawals. This fee is not much (commonly as low as 0.0001BTC), but as usual, it depends on the site you use.
Is Bitcoin gambling available on my phone?
Yes, but usually not through apps. You can access many sites through internet browsers on mobile phones, but bitcoin gambling apps are not yet commonplace.
Is gambling with bitcoin legal?
This depends on where you are located. In the UK, gambling with digital currencies such as bitcoin is completely legal. However, only gambling platforms that hold a license by the UKGC (UK Gambling Commission) are permitted to provide bitcoin gambling to UK customers. Our reviews will explain the regulatory status of all our recommended bitcoin gambling providers.
If you are not based in the UK, be sure to check with your local legislation to ensure that you are being compliant with the law.
How do I know they’re not rigged?
They’re not. This is where bitcoin casinos have an advantage over regular online casinos. By disclosing their software algorithms on a blockchain, which is accessible to anyone, they can prove the fairness of their game. This is referred to as being ‘provably fair’. Our comparisons will help you find a reliable gambling site.
How do CryptoSuper.market’s reviews work?
Good question. Our team meticulously researches both new and existing Bitcoin casinos, narrowing them down in terms reliability, fees, user experience, value for money, and the range of games on offer. We only review the sites that have passed our quality check.
And what are the risks?
Frankly, very few. One factor worth considering is the fluctuation of bitcoin’s value. If the prices shoot high, you could end up gambling more than you want to. However, if you are not planning on exchanging your bitcoins for fiat currency, this is irrelevant. Other than that, the other risks are the regular issues related to online gambling in general, such as scam websites. Our reviews will help you avoid those and deliver sites that are probably fair.
What are the advantages of gambling with bitcoin?
For starters, there’s the ability to gamble anonymously. With bitcoin, you can often gamble online without having to submit your personal information to a site. On top of this, transaction fees and speeds tend to be much lower than on ‘normal sites’.
Should I gamble with bitcoin?
It’s up to you. If you want to gamble anonymously and with lower or no fees charged, then bitcoin gambling could be the best way to go.
How do I get started?
That’s the easy part. Browse our selection of sites and reviews and find the right casino for your needs. Remember to gamble responsibly.