Anyone with an internet connection is presumably familiar about online gambling in today’s world, but what a lot of netizens are discovering for the first time is bitcoin gambling. In the wake of bitcoin’s explosion in collective public consciousness recently, the form of gambling involving cryptocurrencies is experiencing increased traction.
Online gambling is a multibillion enterprise with a massive scope for further expansion, and bitcoin gambling is its one of the biggest niche markets. The betting sites dealing in cryptocurrencies have proliferated because of an increased public awareness and improved infrastructures easily accessible to masses.
Bitcoin’s adoption in the gambling industry comes as no surprise when looking at all the other businesses bitcoin has managed to permeate.
What is Bitcoin?
Bitcoin (BTC) is a global digital currency as it is circulated and accepted only on the Internet. Bitcoin has no material representation and is generated by billions of computers around the globe.
As bitcoin is being widely accepted now, it can be easily used for buying and selling goods, services, commodities etc., just like any other fiat currency. Bitcoin is also traded on stock exchanges and can be freely exchanged for other currencies.
What distinguishes bitcoin from other fiat money is that it is decentralized and has no bank or any other official governing body controlling its emission and circulation. There are no regulations imposed on the circulation and exchange of bitcoin in any way and is completely free.
Bitcoin enables monetary transactions with minimal commission fees and is for everyone as anyone can access the initial code and launch a script for mining (or generating) bitcoins.
Advantages of Bitcoin Casinos
Gambling with Bitcoins is easier, faster and much more lucrative than with any other fiat currency. Bitcoin deposits and withdrawals are practically free and the processing free incurred on bitcoin transactions, nominal. It also safeguards against chargebacks and the speed of processing payments is much faster.
Finally, it is the feature of offering complete anonymity to gamblers while placing bets and still maintaining a completely transparent system which further helps the case for online bitcoin gambling. In other words, Bitcoin casinos offer quick, safe and anonymous gambling options.
Bitcoin casinos are comparatively new and yet have grown to enjoy a massive user base. The options for casinos dealing in cryptocurrencies are plenty, making it a little difficult for the gamblers to choose one out of many.
To solve this problem, there are many information portals that have cropped over the years. There are numerous portals that provide information like poker rules, poker room reviews etc. to help gamblers make an informed choice. Some portals also offer additional features like no deposit poker bonuses and 888 poker free 88 dollars, for a better understanding of which you can hop over to this website.
Best Online BTC Casinos
Bitcoin casinos, like their traditional counterparts, offer a wide range of first-class casino games – from old classics to the top-notch video and 3D games. Some bitcoin casinos feature special games in which all transactions are made only in BTC.
Listed below are some of the best bitcoin casinos around the world:
Cloudbet is one of the few online casinos which accepts only bitcoin payments. Established in 2013, the casino is reputed amongst gamblers and sports bettors alike. With a generous first deposit bonus (5 BTC), fast withdrawals and a collection of more than 1000 diverse games, the casino stands as one of the best in the business.
Launched in 2014, BitStarz is famous for its state-of-the-art graphics and sound effects. BitStarz offers around 600 high quality casino games, including video games and special BTC games. The casino also features a live gambling room with live dealers and real-time gameplay.
BitStarz offers various payment options but bitcoin is the only option which does not involve any transaction fee.
7Bit Casino was launched in 2014 and is a reliable and safe gambling establishment. 7Bit Casino is also one of the first online casinos that started accepting BTC. The casino offers rather high welcome and deposit bonuses in BTC and features over 500 top-notch games with stunning graphics and high-quality sound effects.
Coin Palace is a reliable and fair bitcoin casino with an intuitive interface and user-friendly services. The casino is a small establishment and offers a total of 70 classical casino games, but the quality of their games is ensured by SoftSwiss – one of the world’s leading casino software providers.