Do Online Casino’s Accept Bitcoin?

| Mar 14, 2019

Do Online Casino's Accept Bitcoin?

Online gambling operators were among the first to accept and wholeheartedly embrace cryptocurrency. The advent of bitcoin sparked mixed reactions but the gambling community quickly saw the upsides of using it extensively. Right from the start, there were a couple of casinos willing to accept deposits in digital currency and their number grew constantly over the years. While the price and the inherent popularity of bitcoin faded in recent months, the virtual coin is used just as much for gambling purposes.

Online Casino Players Cherish Privacy

The main reason for why so many people were willing to take their chances with bitcoin casinos is that they promised enhanced privacy. When it comes to sensitive issues such as online gambling, many prefer to keep their habits private and these casinos were willing to meet them halfway. Transactions are just as fast, simple and straightforward, so there were no obvious downsides. As for the casinos, they were more than willing to offer anonymous services, for the chance of expanding their customer base.

Players from countries where gambling was unregulated saw an opportunity to gamble at online casinos that accept bitcoin. In the regulated markets players will soon be able to use Bitcoin on the best online casino UK sites. Some of the players were also investors in digital money, so they were able to hit two birds with one stone. Meanwhile, the casinos went to great lengths to stand out from the crowd of operators and appeal to players through bonuses and promotions. At the end of the day, players enjoyed the same advantages as they would at mainstream casinos, with the enhanced privacy.

Bitcoin Casinos and Provably Fair Games

An online gambling operator is only as good as its reputation and bitcoin casinos were largely new players in the competitive industry. While they are still working on building a name for themselves, they were able to cut corners and make progress faster. Bitcoin casinos offer games that are provably fair, an original concept that gained a lot of traction with real money players. The prospect of verifying individually the fairness of the games chosen was particularly appealing to undecided gamers.
In order to promote these games, bitcoin casinos are inclined to offer bonuses, ranging from matched deposits to free spins. To compensate for the lack of expertise and a less impressive track record, they usually offer bigger bonuses. The superior quality of their bonus structures is the direct result of more intense competition among operators. Players from the bitcoin community have higher standards, which compels the casinos to rise to the challenge.

Hybrid Casinos on the Rise

The number of bitcoin-only casinos is increasing at a slow but steady pace. Had the price of the digital money kept surging, the number of casinos would’ve probably increased much faster. Today, there are more casinos that accept both traditional and digital money for deposits and wagering, than operators that focus exclusively on bitcoin. Many mainstream casinos have also added cryptocurrency deposits among the accepted payment methods. Players can use alternative financial instruments to deposit and wager these hybrid casinos and then cash out their winnings.

Charles Baxendale (BSc, MSc Mathematics and Computer Science)

Charles Baxendale

(BSc, MSc Mathematics and Computer Science)

A keen researcher in the development of methods and theories for computer sciences. A lover of algorithms and mathematical computation. Consultant to online slots software companies and a player in my spare time.