After the new cryptocurrency became mainstream it was not long before the first Bitcoin Casinos were launched. It has enabled a new gambling experience and created its own niche which is now starting to compete with the traditional operators. The transaction volume continues to grow every month and this does not look like it will be stopping soon. With the financial crisis starting to get worse many people are moving their capital into the crypto space and the blockchain for safe keeping.
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What are BTC casinos?
There are hundreds if not thousands of available digital currencies available. Bitcoin was the first and is the most popular. It was designed by Satoshi Nakamoto back in 2008 and since then it has flourished. The main difference that cryptocurrency is that it is a digital peer-to-peer payment system which cuts out the middleman. With banks in a complete financial crisis and needing public bailout money along with quantitative easing to stay afloat, storing your own money yourself seems the sensible options.
There are thousands of casinos that deal exclusively in Cryptocurrency which the larger established bookmakers are all considering adding it to their systems. It has taken the big powerhouses in gambling a while to catch on to the huge advantages it has for casino operators. It has given time for smaller operators to take a large share of the market space. As soon as the big boys fully commit to offering Crypto, the industry will be one of the most competitive online.
When Bitcoin Casinos were first released the graphics were poor but the playability was enjoyable. It was like play gaming that was designed in the early 1990`s. Since then they have moved forward at great speed and offer more games, better graphics, and better terms than traditional casino sites.
You can play BTC casinos anywhere in the world and they are subject to the local laws. There is a vast variety of games to play such as; Bitcoin Dice, Bitcoin Baccarat, Bitcoin Blackjack, Bitcoin Slots, Bitcoin Video Poker and more. If you want to see the latest developments you should check out Bitcoin 3D Casinos which really bring the games to life.
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Like with any online game the software running it is the key to its success. The top Bit Casino sites design their own software so they can develop games exclusive to their site. Smaller operators rent or buy already proven versions. The best software available for Crypto casinos allows its users to customize it so that it fits into their websites model.
All bitcoin software runs automatically with limited human intervention required. For games that need the role of a dealer, the software takes that role and deals with all the human players at the table.
Bitcoin Casinos use the blockchain and software which allows the users to check the fairness of the site. With the top BTC casino sites they will have a page which shows transactions in real-time. Websites that offer this are called “provably fair” due to their complete transparency. To find out more on how the Bitcoin P2P network works, you can read Satoshi Nakamoto paper here.
The most popular BTC casino game played online is Bitcoin Dice. It is super addictive due to its simplicity and fantastic odds. Most operators have a 1% edge which means they only make 1% on all transactions played on average. Players have made a fortune with this game as all you need to do is to guess if the dice will roll higher or lower than the last roll.
Will Bitcoin Casinos Continue To Grow In Popularity?
If recent trends are to continue within a few years Bitcoin Casinos will catch up to the traditional sites. It will not be long before the large powerhouses will have to offer Cryptocurrency options for their players or they will be left behind.
One of the growing concerns online is privacy mainly due to the Edward Snowden revelations. When gambling at traditional casinos your bank statements will show that you have used your money for gambling. The financial industry is less risk averse when it comes to their general bank customers. They would rather gamble trillions on the markets then help the people they were first designed to look after. If you are thinking about taking out a mortgage or loan, using a traditional casino could damage your application, as a person that gambles is seen as a risky loan.
Bitcoin Casinos Sites
Using Bitcoin Casino websites you can avoid this as all transactions are completely anonymous. It means if you do want to apply for a mortgage or loan you will not be rejected due to having gambling transactions listed on your banking statement.
The biggest advantage and why all the powerhouse gambling companies will start to add cryptocurrency to their systems is down to the financial transaction costs. With Bitcoins, the fee for sending and receiving it are almost zero and that covers sending cryptocurrency anywhere in the world. Casinos are all about making a profit and they can greatly increase their profit margins by using crypto against digital FIAT currency.
One of the major complaints about casinos is the time it takes to withdraw their money. Even with the big players in the industry, it can take days to receive money which is rightfully yours. Switching to a crypto-based casino enables instant deposit along with withdrawals. With most operators, there is also a no minimum payout policy, which means you can deposit or withdraw no matter how small or large the amount is.
Bitcoin Casinos presently do not have to follow the strict guidelines that traditional casino operators have to go through. It has allowed designers to think outside the box and offer games which would otherwise be impossible to make. It has helped to increase the popularity of BTC gaming.
Why Use Bitcoins At All?
Bitcoin Gambling with either type of currency will always be under the spotlight. Rules change regularly with regards betting sites so beware that things can change fast. One advantage with cryptocurrency is that nobody owns it, so it makes it very difficult for Governments around the world to regulate it. This is important as if you store your money on the blockchain securely, in a situation like what happened in Greece and Cyprus, you would not be blocked from getting your hands on the money you own. Additionally in the case of Cyprus, money was taken from accounts over a certain amount to bail out the banks. Using Bitcoin you are not at risk over your money being stolen due to your bank failing.
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A Bitcoin Casino Welcome Bonus are a way for operators welcoming new players with a reward for joining their site. Again there are a number of offers and promotions for these types of rewards for Bit gaming players. Many offer free spins along with a set amount of cryptocurrency.
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Once you have found your favorite site and game, you can use Bitcoin Casino Matched Deposit Bonus codes to improve your odds against the provider. BTC Casinos will in some cases match deposits up to 300% or more, so it is vital that if you want to beat the house, you need to use these bonuses.