Once bitcoin and other cryptocurrencies came into existence, it didn’t take long for people to figure out how to gamble with them. Online bitcoin casinos operate very much like traditional online casinos, including the use of no deposit bonuses.
Bitcoin casinos, like traditional currency online casinos, may offer a no deposit bonus. A small amount of bitcoin will be given to the gambler simply by signing up. The purpose is to give the gambler a “free trial” of the casino. The rules for using this bonus vary, and may include wager requirements or withdrawal restrictions.
Gambling doesn’t come without risk, and bitcoin casinos are no exception. In this article, we’ll dive into the risks involved specifically with no deposit bonuses, as well as the broader risks inherent to gambling with bitcoin.
No deposit bonuses are typical of both traditional online casinos and bitcoin casinos. At the surface level, it’s a pretty simple concept. Casinos typically offer two types of promotions to get patrons through their digital doors: a deposit bonus or a no deposit bonus. Here’s the difference:
In both cases, the casino gives the gambler “free” bets, but the no deposit bonus does not require a gambler to fork over any of their own crypto-currency… yet. To paint a clearer picture, consider the high-level process by which bitcoin gambling works.
Every online gambling platform requires an account. Most of the allure of bitcoin casinos is anonymity. Typically, the only credentials you need to provide to open up an account are an email address and a username. No age verification or location verification.
Once you have an account, it needs to be linked to your crypto wallet… in this case, a bitcoin wallet. There are various ways to fill your wallet with bitcoin, most commonly by buying some on an exchange.
Just like at a live casino where you fork over cash in exchange for chips, this transaction online just looks like moving bitcoin from your wallet app to your casino account. It’s worth noting the importance of verifying the credibility of the bitcoin casino here. The nature, and to many, the appeal of bitcoin is that all transactions are untraceable. So, naturally, it’s nearly impossible to regulate a casino that operates using bitcoin.
Before depositing funds, make sure that the casino you are using is well-established and trustworthy.
Gamble until your heart’s content… or until you’re out of crypto. In this regard, bitcoin casinos are virtually the same as any other traditional-currency online casino. As you win, bitcoin will be held in your casino account until you decide to withdraw it.
In a live casino, you’d triumphantly walk up to the cashier’s desk and dump a big pile of chips on it. In a bitcoin casino, all you do is click the “withdraw” button. In most cases, your winnings (in bitcoin) are transferred back to your bitcoin wallet. There is some level of risk involved here due to the volatility of the bitcoin exchange market. More on that later in the article, but first, let’s hammer home the nature of the no deposit bonus.
A no deposit bonus is a small amount of bitcoin given to you by the casino just for signing up… no bankroll deposit required.Their goal is to let you try out their games without risking your own bitcoin, and their intent is that you’ll like them enough to start gambling with your own money. This differs from a regular deposit bonus, where the casino may offer some percentage of “cash back” on top of the bitcoin you are depositing.
The term “no deposit bonus” refers to the step in the gambling process where the gambler sets up their account and deposits bitcoin to their bankroll. These promotions will offer a small “bonus” amount of bitcoin to the gambler just for creating an account at their online casino.
Free spins are one of the most common no deposit “bonuses” that online bitcoin casinos offer. Three bitcoin casinos offering free spins and allowing gamblers from the United States are:
Winaday is offering a $30 welcome bonus for new players as well as a 250% deposit bonus. The free 30 dollars worth of spins comes with a minimum wager playthrough of 25x ($750) before any winnings from bonuses can be cashed out. And the maximum cashout limit on winnings from the bonus spins is $100.
Winaday, of course, supports gambling with Bitcoin, so if that is your currency of choice, all the values above would be converted based on the current exchange rates.
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Treasure Mile is one of several casinos in the Genesys group. Grand Eagle, Wizbet, Mandarin Palace, and Lucky Creek are all a part of the group. The casinos have quite distinct themes. The Treasure Mile is open to everyone, no matter where they are located. If you live in the U.S., you do not have any restrictions on depositing bitcoins here.
Use the bitcoin casino bonus code FREEMILE when registering for the first time and earn 25 free spins. Keep in mind that this is for first time account registration only.
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Crypto Thrill Casino was created in 2019 and is an online betting service that allows anyone to bet around the globe. Betting with cryptocurrencies like Bitcoin is the specialty of this platform.
Crypto Thrills offers some pretty sweet free spin deals for existing gamblers. Two to be exact:
The happy hour deal is pretty solid. Contact support to claim free spins for happy hour, and you can use up to 100 during the “happy hours” of 6am to 10am daily. And if you do that seven days in a row, you could qualify for additional bonuses.
Free Spins Wednesdays take place on, you guessed it, Wednesdays. Deposit and wager at least 2 mBTC between Sunday and Tuesday to qualify for complimentary spins on Wednesdays.
We have secured an exclusive no deposit bonus promotion from CryptoThrills for our visitors. You can claim via the banner below 4 mBTC for free by using the bonus code: BIGWIN4
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Free spins aren’t the only metric by which to measure the quality of Bitcoin, or any online casino. Things like proven fair games and excellent customer service. Among the best that allow US-based players are:
The most technologically advanced blockchain crypto casino currently in the marketplace is Bet Spider. It is powered by a unique token called SP that is only available to those that make bets. It can then be staked to earn dividends in dividend pools powered by EOS or TRX.
What makes this EOS/TRX casino so impressive is that it gives players a choice to take part as the banker. It provides a way so that players can choose if they wish to gamble or enjoy the perks of being the HOUSE and share in the profits.
There are regular events that take place each month where players will be provided with free bonus token coins. Information about these promotions from Bet Spider can be found under the promotions tab or by clicking the button below.
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Many bitcoin casinos are adopting blockchain based gaming platforms to develop games that are inherently fair and transparent. More on this in a bit, but Trust Dice is one of the casinos doing that. They provide dice and crash games that are completely based on a secure, decentralized blockchain platform.
They also offer a plethora of other games and promotions that you would expect at a casino. Live casino games, sports betting, and bitcoin deposit bonuses can be found here as well.
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Slotland has been around since before Bitcoin. They’ve been building their track record since 1998, so they aren’t at a loss of credibility. To keep up with the times, they support instant Bitcoin transfers from your crypto wallet.
As the name suggests, they offer plenty of slots to play. You can also find video poker and keno here.
You can claim $30 free in BTC when you use the Slotland bonus code: FREE30BTCC. To activate the bonus, you must be a new player and sign-up for an account via the link below.
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Online casinos are very much an international business, including crypto casinos. We’ll get into the legality of bitcoin casinos later in this article, but for now, what needs to be known is that not all bitcoin casinos allow gamblers with United States IP addresses.
BitStarz (bitstarz.com) is an online casino licensed in Curacao. Scroll to the bottom of their homepage and you’ll find a link to their provability explanation listed under help. It’s in a casino’s best interest to not only deal fair hands, but to prove to players that they are using fair and untampered game algorithms.
BitStarz does this by offering a lengthy explanation of their provability for:
They disclose the game algorithms used and provide instructions for checking your game results either on their site, or through a third party hash verifier.
Bitstarz standard welcome bonus includes 20 free spins with no deposit requirements. We have managed to secure an additional 5 free spins for our visitors that can be redeemed via the link below. No bonus code is required.
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Fairspin (fairspin.io) is probably, as the name suggests, one of the fairest online gambling platforms out there. This isn’t just because they put “Fair” in their name, either.
Fairspin gains a lot of credibility by using the DApp platform TruePlay.
It’s the first online casino to implement the TruePlay platform, which brings the benefits of the blockchain to the actual gaming algorithms themselves, and not just the cryptocurrency being wagered on. Let’s break that down a bit, shall we?
When Bitcoin first debuted, there was a lot of excitement surrounding the crypto currency and the technology that powered it, known as blockchains. Everyone was swept away by the nature of the blockchain’s decentralized computing and the resulting security it provided for Bitcoin holders.
Cryptocurrency is by no means the only application of the blockchain, and TruePlay is proof. Another huge potential of the blockchain is its ability to securely maintain a record of contracts. This has applications in industries like medical records, property records, and, you guessed it… online gambling.
While maintaining player anonymity, the TruePlay platform continually updates a decentralized list of every wager and result that takes place on the network. This ledger is fully transparent to every computing node (read: your computer or phone) on the network.
So, the technology behind the security that draws people to Bitcoin is also implemented directly into the online games available at Fairspin.
To sample one of the most technologically advanced online blockchain casinos, you can take advantage of the 30 free spins on offer without depositing requirements.
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Bitcoin.com is a pretty popular crypto wallet platform. While it’s not solely a casino, it does have a casino linked to it. Some players may actually find this to be more legitimate, having the casino tied back to the actual wallet and exchange platform.
Either way, you’ll find the same slots and table games as other online casinos. On top of that, Bitcoin Games are fully anonymous, keeping your personal information out of the picture. For the latest Bitcoin Games promotions, click the button below.
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A lot of international online casinos have “blacklisted” regions, usually for whatever reasons local laws in the state they are licensed define. Below is a list of Aussie-friendly Bitcoin casinos.
Crypto slots is a casino open to those from Australia. All of the games offered on their site are provably fair, and they include:
As we mentioned, Australian IP addresses are welcome here. In fact, have a look at their terms and conditions and you’ll find no regional restrictions based on any nation.
You will not find any free spins or no deposit bonuses available at Crypto Slots, but you can play the games in demo mode if you do not want to risk any of your funds. If you do wish to gamble, there is an attractive 177% welcome bonus available.
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EarnBet.io is a decentralized crypto casino that is powered by the BET token. Players can buy BET tokens using other cryptocurrencies such as Bitcoin and Ethereum to place bets. The users of the platform have the option to hold onto the tokens and earn a share of the profits generated.
There is a wide variety of blockchain provably fair games available, with house edge rates as low as 0.5%.Players are also rewarded each time they place a bet as Bet Tokens are paid out for each bet placed.
This Bitcoin casino welcome bonus provides new players with $50 in free BTC. To claim the promotion, players are required to sign up for a new account which takes only a few moments. There is no password required as your account links directly to your crypto wallet, which makes registration fast and simple.
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If you’re an Australian gambler looking to play at 7Bitcasino, be sure to check the Terms and Conditions Page before creating your account. You’ll be able to play, but access to some games (NetEnt) will be restricted.
Also, despite this being a Bitcoin heavy article, it’s worth pointing out that regular currency gambling with a Visa card is not supported for Australians (among many other countries).
The bitcoin casino welcome bonus at 7Bitcasino offers a 100% matched deposit that includes 100 free spins.
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The casinos below allow players with IP addresses placed north of the border.
The CryptoWild Casino Welcome Bonus provides new players with an amazing 4 BTCs in the form of a four-tier matched deposit bonus. Take a look at their terms and conditions and note that no restrictions on Canada are in place. While this is not a popular casino, you can still play provably fair games like bitcoin slots and roulette here.
The welcome bonus provides new players with up to 4 BTC for free in the form of a four-tier matched deposit bonus.
The first of these deposits offers the highest payout, with a 150 percent match (up to 1 BTC) and 150 Free Spins for all qualified players. The other deposit incentives are 50% matched and similarly have a maximum of 1 BTC.
As a signup bonus, we have secured a 20 free spins no deposit bonus requirement for players who join through the banner below. It is a great way to see if this is the best crypto gambling platform for you or not without risking your funds.
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BitCasino.io was one of the first online casinos to specialize in bitcoin gambling. It was designed from the ground up to cater to the new form of crypto gambler. It is popular all over the world and is available in 11 different languages. Due to its Curacao gambling license, however, players from the United Kingdom, Australia and the United States are not allowed.
There are lots of great promotions available at BitCasino, but the best is our exclusive bonus we have secured for our visitors. The bonus provides players with 200 free spins when they wager a minimum of 5 mBTC. For further information about the promotion terms and conditions, click the “Claim BitCasino Bonus” button below.
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The inventory of over 5,000 casino games means you’re assured of receiving your money’s worth, no matter what kind of game you’re interested in. Fiat and cryptocurrency are both options for both depositing and withdrawing.
A bitcoin welcome bonus will be given to players as soon as they register. Players who make a deposit of at least 0.00044 BTC will get the amount matched up to 5 BTC plus 100 free spins included.
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Europeans may already be aware that they are fortunate, since other locations, like the United States, have more laws when it comes to online casino gaming. If you are based in Europe and looking for a good online casino that accepts bitcoin, the three platforms listed below are an excellent choice.
Everything can be traced and verified when it comes to hash system gateway games. Recently, but very quickly, gamification has incorporated a large variety of suppliers and games. It was revived in a fresh light while retaining its iconic foundations. It allows Gamdom to cater to both old and new gamers. The community component is also quite essential, with an active conversation and a level structure that allows you to gather bonus chests.
The site is unique in the online casino market and it is always trying to improve the platform. Gamdom holds a gambling license issued in Curacao under Company Registration No. 141727.
To claim a free bonus chest at Gamdom, enter the coupon code: ndb.
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Konung is a pretty comprehensive online casino offering both Bitcoin and traditional currency as well. All new players who make their first deposit at Konung-Casino receive a 100% bonus up to €300, as well as 50 FREE SPINS to use on the Brave Viking slots.
One thing you need to be conscious of is that if you win more than €10,000, the casino reserves the right, until the total amount is payable, to divide the payoff into monthly payments of up to €10,000.
In order for you to be able to try the platform without making a deposit, we have secured 10 free spins. There are no bonus code requirements as the free spins are added to the player account after email verification. Withdrawal using this bonus can not exceed 25.00 EUR, 25.00 USD, 230.00 NOK.
There are a few European countries that can not access this casino:
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Joo casino offers a bunch of games, and, as of recently, sports betting. They also offer a welcome deposit bonus of 150 free spins. The bonuses have the same terms and conditions in the welcome package for all deposit bonus types. In particular, you have to make a qualifying wager of €20. There is a 14-day expiration period, and both free spins and bonus deposit money must be wagered 50 times before they can be withdrawn.
The maximum wager size per wager is €5 for an active bonus. In addition to the first deposit bonus, players have three other alternatives. These include a 50% 2nd deposit bonus of up to €100 and a 75% 3rd deposit bonus of up to €150. Last but not least, the 4th deposit bonus adds up to a 100% cash bonus up to €100. You also receive 50 free spins for the fourth deposit.
We have secured an exclusive promotion from Joo Casino that our visitors can redeem via the button below. New signups will get 10 free spins with no deposit requirements added to their account on successful registration.
However, if your IP address resides in one of the countries below, you won’t be able to gamble at Joo.
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Much of the allure of Bitcoin and the blockchain comes from its inherent anonymity. And while there is more privacy at a Bitcoin casino than a traditional online casino, not all of them are totally anonymous.
This is something that can be checked in a casino’s terms and conditions. In most cases, all a casino needs to set up an account is a valid email address. However, some have a Know Your Customer policy, or KYC. They may require a driver’s license or other ID when issuing no deposit bonuses to make sure people aren’t setting up multiple accounts for extra free spins.
There are some Bitcoin casinos that do support fully anonymous gambling, though. Here are a few of the top options.
Bitcoin Casino US boasts total anonymity for its players, and offers a comprehensive selection of games. At first glance, it is a truly anonymous operation. All you need to do to create an account is enter a valid email address and check a box saying that you are older than 18 years.
However, digging into their terms and conditions you will find this:
“The casino reserves the right to ask for THE proof of identity and in case The player has not reached the legal age to play, access to the website will be denied.”
So, they do technically have the right to ask for an ID if they suspect a user is under the legal age to gamble. But as long as you are over 18 and don’t give them a reason to suspect you aren’t, you won’t be asked to provide identification.
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OneHash is another anonymous crypto casino, and they operate in a similar fashion to Bitcoin Casino US… except they don’t allow players from the USA.
All transactions are anonymous, and all you need is an email account to sign up. However, the casino reserves the right to know their clients in high risk situations, cases of suspected fraud, or abuse of the casino’s policies.
They reserve the right to verify any user’s identification, and they spell it out in their terms.
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Hop onto the Bitvest platform and it feels like one of those web pages from the early days of the internet. It literally takes one click to set up an “instant account” username, which can later be converted to a full account.
Even then, though, no email address is required. Just enter a username and create a password. You’re set.
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Many, but not all Bitcoin casinos offer sports booking services. Below are a couple of the best options for sports betting with your crypto wallet.
Sportbet One is the most sophisticated and technologically advanced sports betting site in the world. It is the world’s first decentralized betting platform to be built on the EOS blockchain. The platform links directly to your crypto wallet, so it eliminates the requirement for identification verification and deposits.
All you need to be able to gamble anonymously at Sportbet One is an EOS wallet or metamask. The betting amounts along with any winnings are paid out by smart contracts to the players’ EOS wallet, ensuring no human error or refusal to pay winnings.
SportBet ensures anonymous, transparent betting and direct payouts to the user’s EOS account.
SBET is the token that powers the Sportbet One ecosystem. Token holders can choose to take a stake in SBET to receive dividend payments and earn even more.
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This is where gambling on live sports happens. SportsBet is even officially partnered with a number of football clubs, including Arsenal and Southampton FC.
Place bets on everything from common sports like football or basketball to obscure sports like handball and water polo. Even wager on video games.
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Stake.com’s betting offers include over 35 categories. You may wager on the results of presidential elections held across the world, on the sports stars of the year, and on a variety of other unusual wagers.
Esports betting is available for games such as Counter-Strike: Global Offensive, Dota 2, League of Legends, StarCraft, and others. There are also several sports you may not be familiar with, such as Gaelic Football, and Floorball.
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No deposit bonuses will either come in the form of free spins, cash, or free chips. Either way, all are used in the same way, to bet on them. Some casinos offering free chips are listed below.
Red Stag is a terrific alternative for slot fans, as it provides over 130 slot games for your casino pleasure. There are additional promotions that allow for greater pleasure when it comes to playing casino games. One of the reasons we and a large number of other online players enjoy this casino so much is the ongoing special Bitcoin bonuses. The first Bitcoin deposit made by a player will be matched 300 percent up to $600 in value.
The Red Stag casino offers a number of bonuses, one of the newest ones is a no deposit bonus free chips. Claim this bonus, by joining the site and using the code: FIVESTAGS.
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One of the reasons why gamblers love RooBet is the wide variety of blockchain likely fair games. These have much lower house edge rates than found at traditional casinos, giving punters more of a chance to win in comparison with non-blockchain powered games.
The RooBet faucet works differently than other similar platforms. To be able to claim free rewards, players can click on the Promo button found in the menu and then complete surveys in order to gain points that can be exchanged for gaming credits. You will also find daily rakeback, weekly cash back and monthly bonuses.
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BetFury is a brand new concept that uses the blockchain to provide benefits that are not possible at traditional online casinos. It is a social crypto gambling platform that is powered by its own token called BFG.
The BetFury casino does not have a traditional faucet attached where players complete a captcha to earn free crypto. It has improved on the concept and introduced the BetFury BOX system where players open boxes to receive free BTC. Players can complete daily tasks along with staking BFG tokens to earn a passive income without the need for gambling.
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A bitcoin faucet is defined by bitdegree.org as:
“a program (website) that pays users small amounts of Bitcoin (the before-mentioned satoshis) for different tasks. It’s essentially free money when you think about it.”
So in the case of a casino, a bitcoin faucet would simply be a game with ads that consistently pays out a small fraction of a Bitcoin. Some casinos known to have Bitcoin faucets are:
Go to the bonuses page of BC.Game and the first one on the list is their task faucet. The faucet pays out in terms of a gambling bonus, not straight Bitcoin.
There are “Newbie tasks” like verifying your email and saying “hi” in the chat room, and there are daily tasks like running scripts. Very simple tasks that ultimately benefit the casino, so they pay you something for them.
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Rocket Run is a demonstration of the top-level inventiveness and individuality that one may have. An entertaining, proprietary, and provably fair casino for Bitcoin/cryptocurrency holders that features their favorite games. Even if you’ve previously played other casino games, you’ll notice a difference when you play at Rocket.
Rocket Run has it’s own crypto chips called Space Dollars, or SPD. They have a number of user benefits, including an SPD fountain.
They have particular games with faucets that can be used up to 15 times a day, and small payouts are given just for trying.
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The Luckyfish platform is akin to other crypto casinos, but they have a unique feature that is, in our opinion, underappreciated. A full Crypto Faucet with no limits. To be fair, each faucet grab is only a modest sum, but the opportunity it offers is enormous. You can still try to win cryptocurrencies if you are unable or unwilling to deposit money into a casino.
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Any casino, be it bitcoin or traditional currency, will always attach terms and conditions to their no deposit bonuses. This just makes sense, otherwise they’d be run out of business by loophole-seeking crypto-junkies.
So, while the bonus is “free” in the sense that you don’t have to exchange any money for it, there are still things you have to do and requirements you need to meet in order to claim your bonus. Common examples include:
That’s quite a few strings attached! Every casino will have these tied to their no deposit bonuses. They are there to protect them from going bankrupt. Most of the rules above are pretty straightforward, but the minimum bonus wagering requirement and the game contribution percentages can use a little more explanation.
The casino term to get familiar with here is playthrough. This is the amount of bitcoin a gambler has wagered during their time in the casino. It doesn’t matter how many of those wagers have been won or lost, what matters is how much money has been put on the line.
For example, if I had placed ten 1 BTC bets, my total playthrough would be 10 BTC. (which, on today’s Bitcoin exchange, would be a cool $370,000).
Now, let’s look at an example of the minimum bonus wagering requirement, maybe with some numbers more familiar to the casual gambler. Say a casino is offering a 0.0005 BTC bonus with a 50x wager requirement. Your playthrough will need to be 0.025 BTC to claim that bonus and any winnings generated from it.
To put that into terms of USD, you’d need to wager nearly $1,000 to earn your $20 bonus… Not the most promising ROI. Just remember, casinos don’t actually want to give you free money, they want you to gamble at their casino.
This condition is pretty straightforward, but it never hurts to hammer things home with a simple example.
Say the game is Blackjack, the game with the best odds for the gambler. This game may be eligible to contribute to your bonus playthrough, but the casino would rather you play games that have a higher house advantage.
So, in this example, we’ll say the contribution limit is 10%. This means that for every dollar you bet, only ten cents is applied to your playthrough.
Games with a higher house advantage, like bitcoin slot machines, are typically the ones with a 100% playthrough contribution. This is simply a ploy used by the casino to mislead gamblers.
It’s quite common that bonuses will come in the form of free spins. A casino may offer a no deposit bonus of 100 free spins, instead of just crediting your account with a small amount of bitcoin.
These spins are typically good for use in slots and have a small monetary value, on the order of $1 cents. The spin value is applied to the playthrough, and any winnings generated from free spins can not be cashed out until the wager requirement is met.
Time limits are another thing to look out for when reading the terms and conditions of a bonus. In almost all cases, free spins must be used within a few days of registering and earning them. Possibly up to a week.
Time limits also tend to go hand-in-hand with the minimum wager requirement. Once you receive a no deposit bonus, you’ll typically have a window in which you need to meet your playthrough requirement.
There are many promotions out there that offer a “cash back” type bonus whenever you deposit your own bitcoin. These promotions are usually there to keep gamblers with existing accounts coming back.
When considering the terms and conditions of casino bonuses, deposit and no deposit bonuses are typically very similar. The only real differences are:
Both bonuses are the same in that they come in the form of Bitcoin to gamble with or free spins, and the size of the bonus is usually dependent on the amount you deposit. However, in addition to being subject to all of the previously mentioned regulations, making a deposit with your own money is one of the requirements for obtaining and clearing the bonus.
Deposit bonuses are also targeted at returning gamblers. They are a tool that casinos use to encourage existing customers to return, whereas no deposit bonuses are typically reserved for new players only.
Casinos will likely ask for a government issued ID when delivering no deposit bonuses. This is to prevent a single gambler from creating multiple accounts just to get multiple no deposit bonuses… makes sense.
Most Bitcoin casinos offer deposit bonuses, some examples are:
Now, back to the topic of no deposit bonuses, here are some Bitcoin casinos offering them in 2021.
The casino you’re thinking of is not on the list above? Not to worry, the casinos make it easy to find out what bonuses they’re giving out. Once on your casino’s lobby/home page, it shouldn’t be hard to find their “promotions” tab.
There, they will list all the bonuses they have to offer, and they expect most of them to be deposit bonuses. Not all casinos will offer a no deposit bonus. How do you tell which is which? Check the terms and conditions.
Each bonus deal will have the terms laid out clearly. The first condition listed is usually the one that states whether a deposit is required or not. Check out this example from the bitStarz free promo code:
“Sign up and get 25 free spins, no deposit or bonus code required.”
The words “no deposit required” (obviously) or “sign up bonus” typically indicate that the bonus is a no deposit deal. So, just check the casino’s promotions page. Each promo will have a clearly spelled out list of terms, and somewhere in there will be the deposit requirements.
Note that if you’re having a hard time finding the terms and conditions of an advertised bonus, the casino you’re in may not be all that credible.
It’s only been 12 years since the first Bitcoin was mined, making crypto-currency a very young technology. In its short lifespan, it’s excited those in the tech industry and jostled those in the financial industry.
In terms of gambling online with Bitcoin, there’s virtually no difference when compared to online gambling with regular currency at the surface. However, what some consider general benefits of Bitcoin tend to carry over into gambling with it as well.
One of the biggest benefits of Bitcoin is the high level of financial privacy. The key term here is decentralization, made possible by a technology called blockchain. The key here is that there is no central “Bitcoin bank.” Rather, all bitcoins in circulation exist on a digital ledger. This ledger is a list of all Bitcoin transactions.
Each transaction is called a block, and it contains info such as:
As transactions occur, blocks are linked together in a chain. However, decentralization is made possible because this ledger (blockchain) is distributed to every computer on the network. Every time a transaction occurs, the block is added to everyone’s ledger, and their computer has an application to verify it with everyone else on the network. In this case a Bitcoin wallet app.
So, this is secure in that all the information is distributed and cross checked, making it an elegant security solution. Whereas a traditional, centralized bank would have all their financial information on one central computer or server. A sitting duck for hackers.
Keep in mind that each block in the ledger is encoded, and all the blockchain network is doing is verifying the codes of the previous and next blocks in the chain. Only the sender and receiver can access the encoded data, i.e. the amount and to/from whom it goes.
The ledger is not a list of transaction details for all to see. Instead, it’s the trail of block ID codes, known as hashes, that are constantly being checked. The key is that it’s impossible to tamper with a block’s transaction details without changing it’s hash, and when that happens, the peer-to-peer nature of the network will pick up on the discrepancy and invalidate it.
Ok, let’s get back to gambling. Another benefit of Bitcoin (or any other cryptocurrency for that matter) is the instantaneous nature of transactions. When working within the blockchain network (i.e. using a Bitcoin wallet app), there is no waiting for the transaction to process.
Let’s compare withdrawing bitcoin winnings vs. withdrawing online USD winnings to an online banking account. It could take up to 10 days to process a withdrawal from a traditional currency online casino!
No one likes waiting for their hard earned (or luckily won) money. With a Bitcoin wallet app and an account at a Bitcoin casino, withdrawing winnings is as simple as copy+pasting a link into your browser. Seriously, here’s how the transaction goes.
After checking to make sure you’ve cleared your bonus, the withdrawal process is 3 easy steps.
The transaction will be instant.
The process described above is for a casino that accepts Bitcoin wallet transactions. Some casinos will support gambling with Bitcoin, but they will only support deposits and cash outs in traditional currency.
They do this by using a Bitcoin exchange. This best parallel to draw here is the currency exchange at an airport. You’ve just arrived in a new country (the Bitcoin casino), and you’d like to exchange your currency for theirs (Bitcoin gambling “chips”).
This adds a layer of complexity, and to some, unwanted risk due to the volatile nature of the Bitcoin exchange market. Just like trading Forex, there is a chance the Bitcoin you started playing with will be worth less at the time you cash out.
The other side of the coin is, there’s a chance it could be worth more when you cash out. To the extra enthusiastic this is almost another bet within the casino.
Due to the new and unfamiliar nature of Bitcoin, the legality of Bitcoin casinos is commonly questioned. In short, Bitcoin casinos are legal. Before we continue, please note that this article is for informational purposes only, and should not be taken as legal advice. If you plan to gamble in a Bitcoin casino, be sure to check the local and federal laws on the subject where you live.
In the United States, it is not legal to host an online Bitcoin casino (or traditional online casino for that matter). So, you will not find any American owned Bitcoin casinos operating on American soil. However, it is not entirely illegal to use online casinos, it just depends on where you are geographically situated as state laws throughout the U.S.
We’ve also mentioned above that some Bitcoin casinos restrict use from certain regions. This typically has to do with their licensing. So, while it may not be illegal for a gambler to place bets in online casinos located outside the US, it may still be illegal for the casino to accept bets from someone within the U.S. based on their local laws.
Wise guys may consider using a VPN to circumvent restrictions placed by a casino on their region or country. While VPN’s are perfectly legal for most transactions online, it is definitely illegal to use a VPN to gamble with real currency (crypto included) at a Casino that does not accept bets from your country. It does not matter that the VPN is in a different, allowable country, what matters is where the gambler is.
Remember that, while no deposit bonuses are technically “free,” they are designed to entice you to gamble with your own money in an online casino. The chances of a person walking away with a net positive in bonus winnings alone are extremely slim. Casinos are in the business of making money, not giving it away for free.
Gambling involves risk and there is certainly no guarantee of free money to be had. Always remember to gamble responsibly. If you or someone you know is struggling with gambling issues, please reach out to the National Gambling Problem Helpline.
Below are some of the most common questions regarding bitcoin casinos.
Yes, most online Bitcoin casinos offer free spin promotions like their traditional currency counterparts.
The easiest way to find bonus codes is by checking the casino’s promotions page. The link is usually easily found on the website’s homepage. Most casinos list out the terms and conditions of each bonus there, as well.
It is not legal to host an online Bitcoin casino from servers located in the United States. However, it is not illegal for US based players to gamble at Bitcoin casinos. Unless of course, the USA is on a specific casino’s blacklist.
Be sure to check a casino’s general terms and conditions for a list of restricted regions.
A Bitcoin casino is an online casino where Bitcoin wagered. Typically, casinos that accept Bitcoin will accept other types of cryptocurrencies.
A crypto casino is an online casino that accepts many forms of cryptocurrencies for wagering.
A blockchain casino is an online casino whose games operate on a blockchain platform. This enables provably fair games backed by the security of a decentralized gaming ledger.
Many Bitcoin casinos will accept deposits and exchange them for Bitcoin in house. Be sure to check the casino’s terms and conditions for limitations or restrictions on credit card use.
Almost every Bitcoin casino will offer a “free” bonus offer just for signing up. This may look like free spins or a free chip bonus on your first deposit.
Bitcoin casinos will have the same games you would expect to find at a traditional online casino.
One of the biggest benefits of Bitcoin casinos is the instantaneous withdrawals. This only works if you are using a Bitcoin wallet app.
Yes, at some Bitcoin casinos you will find live casino games where you can interact with the dealer and other players in real time.
Yes, Bitcoin casinos require a license to operate. Many of them are licensed in Curacao.
Most Bitcoin casinos do not require a minimum deposit to play. In fact, many offer no deposit bonuses to new players so they can play without depositing any money. Keep in mind the specific terms and conditions, though. Some casinos may have a deposit requirement for claiming winnings from bonuses.
Nearly all Bitcoin casinos reserve the right to require KYC verification, though they don’t usually require it unless they have a reason to do so. Most commonly, KYC will be enforced when claiming no deposit bonuses. This is to protect the casino from users looking to abuse the bonus systems.
Yes, some Bitcoin casinos offer no deposit bonuses that include free spins. Be sure to check the particular casino’s promotions page, as well as their terms and conditions.
Yes, most games provided by Bitcoin casinos are provably fair. Bitcoin casinos usually publish their provability on their site, as well as instructions for checking game results.
Provably fair is becoming more common and secure as game providers are using blockchain platforms like TruePlay and FunFair.
It depends on the casino. Some may, although the best way to deposit and withdraw funds from a Bitcoin casino is with a Bitcoin wallet.
Gambling is restricted in the USA. Several states that include New Jersey and Pennsylvania allow online gambling to persons over 21 years. Land-based casinos are legal in most states. Know your limits when gambling and stay within your budget. If you have a problem with gambling make sure you ask for help. Copyright © Bitcoin Casino No Deposit Bonus 2020 - All Rights Reserved