Bitcoin and Online Casinos

Casino gambling is not new and has been in vogue since the middle ages when the first gaming hall was created in Germany. Slowly it spread through Europe and America. Today, Las Vegas with its glittering, modern operators is attracting people from all over the world.

Evolution of the online gaming industry

In 1990 however, the gambling scenario changed with the introduction of online gambling and people preferred to chance their luck from the comfort of their homes rather than visit traditional casinos. In the year 2009, the Bitcoin, a cryptocurrency that has created quite a buzz all around, gained acceptance as a virtual currency. It entered the portals of online casinos, and ‘Bitcoin-only’ casinos began to emerge, and the only way to make deposits and withdrawals was by using Bitcoin. The online casino industry is looking to exploit this fact, and some online operators are encouraging players to play more games using Bitcoin. They allow players to deposit, play games in and also withdraw using Bitcoin. Other online operators began to accept Bitcoin in addition to usual payment methods such as electronic wallets and credit cards.

Anonymity preserved in Bitcoin

On the surface, it doesn’t look as if there is very much to choose between Bitcoin and online casinos. Those who are into online gaming know that playing in a casino that accepts Bitcoins has many advantages that can impact the gaming experience. Most online Bitcoin-only casinos offer anonymous accounts- which means no crucial personal information need be revealed. For those who like their privacy and prefer security, this is important. Online casinos don’t work that way because of unusual regulatory and banking laws that are in place. Of course, there are some logistic issues that have to be overcome before players feel comfortable playing in Bitcoin-only casinos, but none of them is insurmountable.

Faster payments in Bitcoin

Many online casinos require that you receive to pay the same way you used to deposit money- if you used a credit card to collect money, then the winnings are also added to the card. Although you can load money quickly into your account, sometimes it takes a long time to get your hand on your winnings, and this can be very dissatisfying. In Bitcoin-only casinos, players can get their money right away. They accept Bitcoins as payment and payout using Bitcoins. The more flexible online casinos allow players to keep their balance either in the form of bitcoins or in the form of the local currency- whichever they prefer.

What games online operators offer?

Online casinos can offer a variety of preys- slot machine games are the all-time favourite and these are invariably accompanied by graphics and sound effects to simulate real slot machines. Poker and Blackjack give players an opportunity to make a lot of money quickly. Sometimes online casinos require players to go through ID checks and also face other issues. Bitcoin-only casinos also cater to most of the favourite table and slot games and players usually find the game that they’re looking for. Also, the bonuses are huge in these casinos, which means that a single big bet can earn big money for you. So what can be better than getting ‘instant winnings’, a chance to win big bonuses and playing your favourite game from the comfort of your home?

bitcoin online casinos 2018

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Today, Bitcoin and online operators exist side by side, but with Bitcoin’s value spiralling upwards, casinos that pay Bitcoin and accept it as a form of currency are becoming very popular. If the Bitcoin bubble holds out, virtual currency may well spell the future of the entire online gambling industry.