A Guide to Bitcoin Gambling

Gambling with Bitcoin has definitely injected some fresh energy into the online casino industry in recent years with a growing number of casinos and online sportsbooks waking up to the clear benefits of online gaming with crypto and adding it as a payment option. A growing choice of legit casinos accepting Bitcoin is excellent news for players.

Ready to begin Bitcoin Gambling? Here we lay out some basics of gambling with Bitcoin online and answer some common questions that those new to gambling with cryptocurrency often ask.

The 2 Main Reasons to Gamble with Bitcoin

  1. Send funds to a casino with top security and speed. Using the blockchain technology is a very dependable way of moving money and it’s safe from fraudsters who may try and seize your funds or acquire sensitive information.
  2. Gambling with Bitcoin means any wins will result in a boost of your crypto funds. Gamble responsibly at online casinos or sports betting sites and should you strike it lucky with a win you can move earnings over in your chosen Bitcoin wallet.

How do I play Casino games with Bitcoin?

If your a Bitcoin gaming novice then why not read our How to Buy Bitcoin Guide. Moving forward, lets take for granted that you are familiar with purchasing Bitcoins and making purchases and transferring funds. There are a few ways of using Bitcoin to access online casino gambling and sport betting products.

Most often when you make a Bitcoin deposit into an online casino account the casino will convert the funds to FIAT currency and you’ll proceed to play games and gamble with that money. If you land a win and with to cash out then your funds will be converted back into BTC before make a withdrawal.

Some of the leading BTC Casinos have specific BTC Games for crypto gamblers to play. In this instance there is no conversion to FIAT and the games are played using BTC. These games are usually nice and varied and range from BTC Slots to live casino titles, popular BTC table games and much more.

Enjoy Fast Bitcoin Deposits and Withdrawals

A common gripe among online casino players is sluggish and problematic deposits and withdrawals. Sometimes a particular payment method may be unavailable or restricted in one territory or another. Gamers also get frustrated when extra checking procedures last for days and delay the pay out process.

Many of the pitfalls of depositing with FIAT currency can be avoided when playing online with BTC. The fact that Bitcoin is deregulated meaning that the banking industry don’t have a hold over it and neither do governments means that BTC can be used to play from any location on the planet. A Bitcoin payment simply has to be verified through the blockchain for it to clear into your casino account. Depending on the site this can be instant or take up to 10 minutes. Standard casino withdrawals can be even more painstaking but not with Bitcoin. All you need to do is input your BTC wallet address and let them know the amount you’d like to cash out and hey presto!

Use Bitcoin to avoid fees at online casinos

Skip annoying casino fees using BTC casino payments. Fees obviously vary depending on the site and the payment method but by using Bitcoin you can circumvent navigate the third party handling fees that often apply.

 

 

 

Bitcoin-Lottery

We’ve all dreamed of winning the lottery at some time or other. What it must be like to watch your numbers come in and snag a huge win that would change your life forever, we can but dream! That said, winning a lottery though statistically unlikely is still a real possibility and while there’s a chance many of us enjoy the buzz of throwing a few bucks at our lucky numbers from time to time. Nowadays, as well as playing Lotteries with FIAT currencies, the option exists to play  the lottery with Bitcoin!

Bitcoin Lottery

What is a BTC Lottery?

The ability to win a lottery without parting with standard currencies is a real prospect in this new Crypto Casino era. Many Bitcoin Casinos have added Bitcoin Lotteries to their entertainment portfolio and they’ve been proving popular with Bitcoin players to they point where there’s now a wide selection of casinos offering Bitcoin lottery games. There are tales of enormous wins where some lucky gamblers have walked away with as much as a 1K BTC prize purse!! Take a moment to digest that, a BTC jackpot worth in the region of 10 Million dollars!! Those eye watering Bitcoin jackpot wins have caught the imagination of many players and goes some way to explaining the growth in popularity of these games.

How do Bitcoin Lotteries Work?

Playing the Bitcoin Lottery is super simple and that’s probably why players like it so much. You can buy your ticket with BTC or Bitcoin Cash (BCH) and upon making a purchase you must pick your numbers in a similar fashion to a traditional lottery. Numbers can be picked from a list that will usually stretch between 1 and 50 and most commonly you’ll need to choose 6 numbers.

The lottery is drawn by the lottery operator as would happen in a standard game and if your numbers match those drawn in full, book the private jet, your in for a life changing win!! A jackpot win is of course the best case scenario but also the least likely. Smaller wins are also on the cards if you match a lesser amount of drawn numbers with prize values lessening the fewer numbers you match as you would expect.

Different casino lotteries will of course have varying payout procedures as well as their own set of rules of play, terms and conditions. Always take a moment to familiarise yourself with the T&C’s before you buy you ticket for the Bitcoin Lottery you want to play.

Are BTC Lottery Games fair?

It’s perfectly possible and in-fact not particularly difficult for a rouge trader or disreputable casino to create a Bitcoin Lottery. Take time to select a Bitcoin Lottery provider of good standing and firm reputation. Pick a provably fair Bitcoin Lottery that independently verifies the results of their games and proves that they have chosen the lottery winner at random.

The Bitcoin lottery casinos that we list here at Bitcoingambleguide.com are all above board, provably fair, well respected providers of bitcoin lottery games and other online gambling products.

 

Cryptocurrency

Cryptocurrency is entering into a golden era. Earlier it was speculated that the world of digital currency is impossible to visualize but today it has morphed itself into reality. From the time of the inception of the first cryptocurrency in 2009, a lot has changed in the field. Facebook is about to launch its cryptocurrency Libra and Venezuela has its state currency Petro PTR. This has added to the repute of the world of cryptocurrencies where more governments are bringing in regulations to supervise the currency.

Subduing Fiat currency:

When it comes to gambling, Fiat currencies dominate the market but this trend has changed in recent years where a spectacular number of casinos have started to accept cryptocurrency as a mode of payment. Many of the casinos have popped up during these years entirely dedicated to the concept of Crypto gambling. Cryptocurrencies are becoming the favorite for online gambling due to the perks it has to offer.

Subduing Fiat currency

Anonymity:

When it comes to treating our data on the internet, we are hesitant about it, but what happens when we have to make a payment? You need to provide your information. This is where a cryptocurrency comes in the picture and maintains an anonymous image of the gambler. Apart from your wallet address, you no longer need to provide your details. This way there is no risk of compromise in terms of your data security.

Faster:

When you use a Fiat currency, you are liable for certain things. The transactions go through various processes and are slower than the cryptocurrencies. Its extra level of speed in treating the transactions has made it a preferable choice among the gamblers and the gambling operators. There is also a reduced transaction fee as compared to the Fiat currency.

Fiat currency

Decentralized:

Cryptocurrencies are decentralized currencies that means there are no intermediaries between the two parties and the transaction is a peer to peer. This makes it more appealing to the public as there would be lesser time involved and one of the best things is that the transaction can take place 24/7. Whether you talk about cash-out or the security, Cryptocurrency has revolutionized the gambling world.

Blockchain:

Blockchain technology is used to empower these cryptocurrency casinos. Instead of having data stored in a single location, it’s stored in blocks and every block contains the information related to the other block. In other words, it impossible to take down a whole network. In terms of security, it’s top-class. Though the huge number of online casinos still use Fiat currency, the developments in recent years have hinted towards the brighter future of Blockchain and cryptocurrency. Not only that, but technology has also already started help resolve the issues related to cybersecurity.

Blockchain

Conclusion:

There is still much work needed to do in the Cryptocurrency world but as of now, digital currencies are the hotcakes. Be it the Blockchain technology or the anonymity it provides while transacting, cryptocurrency is changing the gambling industry and making it more modern.