What is a Bitcoin Casino?
A Bitcoin casino, as the name implies, is an online or mobile casino that accepts Bitcoin transactions. Due to the fact that Bitcoin is a fairly recent development, several casinos have been slow to embrace it citing concerns about safety and anonymity.
There are two types of Bitcoin casinos: those that accept all ordinary currencies, including Bitcoin, and those that accept just Bitcoin payments. Either way, the casinos look and feel similar, they offer more or less the same category of games, similar bonus offers, and other features. The only significant distinction lies in which payment options are available at the disposal of the players.
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There are a few points to note about Bitcoin casinos, some of these may apply to traditional casinos as well:
- Bitcoin casinos have authentic games sometimes exclusive only to Bitcoin gamers, these may not be found in most traditional gaming sites
- The games run on random number generators and are hence provably fair
- Bitcoin casinos will offer exclusive Bitcoin bonuses to their players
- In general, Bitcoin transactions are inexpensive or free in terms of transaction processing fees
- Bitcoin transactions are lightning-fast, be it a deposit or a withdrawal
- There is no rule set in stone as far as licensing is concerned
- Players get to enjoy real money gambling services in a private and anonymous manner
Not sure how Bitcoin & business via bitcoins works? Click to learn more about Bitcoin
Bitcoin Casino Bonuses
It does not matter if a casino is a Bitcoin-only casino or it accepts other traditional payment systems such as credit cards and e-wallets, you are bound to get plenty of bonus offers. Some of the standard types of Bitcoin casino bonuses we have come to see and expect across the iGaming industry are listed below.
No Deposit Bitcoin Casino Bonuses
The no deposit bonus is a relatively new sort of online casino incentive in which the casino awards a player merely for signing up for an account. Such bonuses are useful in increasing the casino's user base while also providing gamers with a fantastic start to their gaming experience free from the risk of financial loss.
These incentives are frequently known as no deposit crypto casino bonuses, and they are available at crypto casinos. At these casinos, there are a variety of no deposit bonuses to choose from. The following are examples of some available bonuses:
- Standard no deposit bonuses where the player may receive some BTC for free upon sign up
- No deposit free spins bonuses that award you a certain number of free spins to utilize on particular games as defined in the bonus terms and conditions
Deposit Bitcoin Casino Bonuses
Deposit casino bonuses come in different forms and they are available to new players as well as existing, funded players.
- Welcome bonuses: a quintessential example of a deposit Bitcoin bonus applied exclusively to new players making their first or one of their initial deposits after registration
- Referral bonuses: Players may receive incentives when they refer another player and that other player makes their first deposit at the casino
- Match bonuses: These deposits bonuses are where the casino matches a certain percentage of your deposit amount (or the entire amount)
- Cashback bonuses: Cashback bonuses are generally issued to players who have been playing for a while. Typically, the player receives a certain percentage of their losses over a defined period back in the form of a cashback bonus.
No Wagering Bitcoin Casino Bonuses
Wagering requirements are a standard bonus condition that determines whether or not a player may withdraw bonus earnings. In a nutshell, it specifies how much money a player must deposit and wager before being entitled to withdraw bonus payments. Naturally, the smaller the wagering restrictions, the higher the bonus value for the player.
Some crypto casinos, on the other hand, take things a step further and provide crypto bonuses with zero wagering requirements. The player can withdraw bonus funds without having to gamble any of their own money in this situation. No wagering bonuses are certainly not found in abundance, but a good one comes along every once in a while.
Reload Bitcoin Casino Bonuses
A reload refers to any deposit made by players after they have exhausted their welcome bonus. So, if the welcome package includes match bonuses on the first 3 deposits, then any deposit made after the third deposit is considered a reload. Sometimes, the casino will offer bonuses even for reloads, and at Bitcoin casinos, these are known as reload Bitcoin casino bonuses.
Loyalty Rewards at Bitcoin Casinos
Most Bitcoin casinos may feature a loyalty rewards program. While each casino has a unique program, it’s most often based on the accumulation of loyalty points. These points enable you to move up the levels in the program and receive an increasing number of personalized rewards along the way. Loyalty points are offered with every bet and are based on the bet value. For example, if you bet R100 you may receive 2 loyalty points for the bet value.
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- mBitCasino is a bitcoin casino that was launched in 2014.
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- It is powered by CoinGaming software
- There are over 1500 exciting casino games at mBitCasino.
- It accepts payments in Bitcoins and also Euros.
How to Deposit and Withdraw Funds at Bitcoin Casinos
Contrary to what most players think, making a deposit and requesting a withdrawal in Bitcoin is actually really simple and cheaper and faster than traditional payment options. To make a Bitcoin deposit into your online casino cashier, you are going to need a couple of things:
- A functional crypto wallet
- Some BTC
To make a Bitcoin deposit:
- Go to the casino's cashier tab.
- Select Bitcoin as your mode of payment.
- Fill in the amount of Bitcoin you'd like to deposit into your account. (This can be much lesser than 1 BTC expressed in decimals).
- Follow the on-screen instructions and click to confirm your payment.
- Your Bitcoin will be deposited into your casino account.
To withdraw winnings in Bitcoin:
- When you've finished filling out the form, click the Withdraw button.
- The public key address of the Bitcoin wallet to which you're making a withdrawal.
- In the space provided type or copy and paste the alphanumeric string of the address or
- In Bitcoin casinos that offer this feature, scan the address as a QR code.
Confirm the transaction to see your Bitcoin instantly deposited into your wallet.
Most Popular Games at Bitcoin Casinos
Bitcoin casinos are known for offering thousands of games across a myriad of in-demand game categories. Most Bitcoin casinos are multi-vendor casinos and their game library is a compilation of games from several of the world’s top game providers. While Bitcoin casinos sometimes offer a dedicated ‘Bitcoin Games’ section, the other game categories offered are pretty similar to what we see at any modern online casino.
If the player is keen on playing games where the in-game currency is BTC, then they can snoop around under the Bitcoin Games category. However, if you are only concerned with using Bitcoin for payments and withdrawals and you are ok with gaming in fiat currencies, then there are going to be a lot of gaming options available at your fingertips. Some of the most popular types of games at Bitcoin casinos are listed below.
🎰 Slots: For a large number of gamers in various nations, online slots are the ultimate appeal. One of the best things about slots is that you don't need any prior expertise to play them. They are meant to be as basic as possible, with an emphasis on fun. The only thing to do is set the reels in motion and hope for a streak of luck.
🃏 Table Games: Slot games may be incredibly easy to play and based purely on luck. However, there are some classic casino table games that are much more appealing to players since they have a much lower house edge than slots and there are is an element of skill involved. Some of the most popular types of table games include blackjack, roulette, baccarat and poker. At Bitcoin casinos, players will find a large number of versions of classic table games.
📱 Video Poker: There are many types of video poker games commonly offered at Bitcoin casinos, some of the noteworthy ones include Deuces Wild, Joker Wild, Double Bonus Poker, Loose Deuces Wild, etc. These games are easy to play and like table games, they offer a high return to player percentages and have an element of skill to them. If you just want to play for fun, video poker is easy to play and good fun as well.
🚀 Progressive Jackpots: A progressive jackpot slot is one in which the prize grows by a modest amount each time any player places a bet on the game. The jackpot will keep growing until someone wins, at which point it will reset to a specified amount. The reason it is so popular at Bitcoin casinos is very obvious, these games offer players a chance at winning big, sometimes 6 or even 7 figures.
🏨 Live Dealer Games: With the introduction of the live casino mode, online casinos have come quite close to replicating the full casino experience. Playing live dealer games allows you to experience the ambience of the top casinos around the world in the comfort of your own home. Some popular types of games manned by live dealers at Bitcoin casinos are live blackjack, live roulette, live baccarat, live poker and even game shows such as live monopoly, live dream catcher, etc.
How to Choose a Bitcoin Gambling Site or Casino
Choosing the right Bitcoin casino is crucial for having fun and most importantly, enjoying a safe online Bitcoin gambling experience. When it comes to Bitcoin casinos, they are not one size fits all. There are so many different types of Bitcoin casinos that have different strengths and weaknesses. A player should choose a casino that fits their requirements, gaming preferences and is available in their jurisdiction, amongst various other factors.
Having said that, there are a few things that are crucial to consider when sizing up a Bitcoin casino, these are:
A recognized online gaming regulatory organization must license the casino. Unregulated and unregistered casinos should be avoided by players since they can be a hotbed of potential scams.
If you’re playing at a Bitcoin casino, this entails that the casino accepts Bitcoin payments. However, it does not necessarily mean that it’s the right one for you. You must also check whether Bitcoin is supported for both withdrawals and deposits. You must also consider what the minimum deposit amount is and whether the daily, weekly and monthly withdrawal limits are agreeable for you. Additionally, you should check the fees for Bitcoin deposits and withdrawals and make sure they fit the bill.
Some of the questions to consider when assessing if a Bitcoin casino is safe include:
- Does the casino use SSL encryption to protect your sensitive data?
- Are games provably fair?
- Does the Bitcoin casino offer responsible gambling features and help?
Online casinos are known to offer loads of bonuses. However, they are rife with restrictive terms and conditions which players usually aren’t aware of until it comes time to claim bonus winnings. Such fine print often leads to bitter disappointment and this is why it is important to not just take the bonus for face value as marketed by the Bitcoin casino, but instead to read through the bonus terms and conditions and ensure that they are reasonable.
Customer service, or the lack thereof, may be the difference between a great and terrible online casino gaming experience. As a result, we cannot emphasize enough the significance of selecting sites where customer service is a top priority for the operator and where you may contact the support team around the clock.
The casino’s support operational hours should be 24/7, preferably. There must be various modes of contact including live chat, email and phone. The languages in which support is dispensed obviously matters too.
In this day and age, not many people have the time, patience or attention span to sit in front of a desktop computer for hours on end playing online slot machines. Most of us have busy routines and are constantly on the move as well. So, to get your casino gaming fix, mobile compatibility is of utmost importance.
Even if the Bitcoin casino you like does not offer a mobile app, it should at least have a mobile-friendly website that is responsive and will work when accessed from a mobile browser. This way, you can play from anywhere and at any time right from your smartphone as long as you have internet connectivity.
Online Casino Software Providers that Accept Bitcoin
As we’ve touched upon already, most Bitcoin casinos are multi-vendor casinos. This means that they get their games from multiple game studios. This allows the casino to boast of a vast, eclectic and alluring game catalogue. There are a few known game providers that make games that support BTC as the in-game currency.
A few noteworthy game providers that offer such games are:
- Netent: NetEnt isn’t just one of the best Bitcoin game software providers, but one of the best software providers in general. The company has been around for over two decades and supplies some of the most iconic slot games, table games and more to the biggest and best online casinos around the world.
- Realtime Gaming (RTG): Players based in the US that are looking for Bitcoin games should look into games from Realtime Gaming. This software provider not only supplies some great BTC-friendly titles but is one of the few game providers licensed to operate in various US states. Even for players based in other countries, RTG is a top-notch provider offering all kinds of games except for live dealer options.
- Microgaming: Microgaming will forever be known as the game provider that developed and offered the first-ever functional real money online casino. With over 700 games and counting in the catalogue, Microgaming is known for its slots and high-value progressive jackpots. The game studio also gets extra credits for being one of the first providers to open up its game library to the community of online Bitcoin casino players.
Pros of Bitcoin Gambling
There are several pros of gambling with Bitcoin. We have touched on some of these below.
✅ Privacy and anonymity
When you make Bitcoin payments and accept Bitcoin withdrawals from online merchants, you can do so without divulging any of your personal information. You only ever have to deal with wallet addresses and that is sufficient to process the transactions. This way, your identity remains anonymous and since you aren’t sharing any personal information, there is no threat of that information being sold or shared with data mining companies without your consent. Needless to say, players who are into real money online gambling generally tend to prefer being private and anonymous.
✅ Peer to peer transactions
Apart from the wallet service provider, there are no middle parties involved when you make a Bitcoin payment. Contrastingly, when you make a payment using a traditional payment method such as a credit card, you will invoke your bank and also the bank of the merchant for approving and processing the transaction. This makes the transaction take longer and also more costly. In fact, banks in certain countries may even decline transactions that are directed towards merchants offering online gaming services.
✅ Low transaction costs
As mentioned above, Bitcoin transactions are peer to peer which means there are no banks involved. When there are no banks involved, there are also no bank fees involved. Your Bitcoin wallet may charge some nominal fees for certain transactions, but there are many Bitcoin wallets completely free of such charges. Likewise, while some Bitcoin casinos may charge fees for withdrawals, there are several that process Bitcoin withdrawals for free.
Depending on where you live and the laws in effect in your jurisdiction, your Bitcoin winnings may not be subjected to any taxation whatsoever. This means that you can profit fully from any money that you win while playing your favourite casino games at your Bitcoin casino.
✅ Transaction speed
As compared to standard banking methods like credit cards, e-wallets, and bank wire transfers, which are often used for online gambling, crypto transactions are lightning quick. Deposits are quick, and withdrawals are practically immediate once cleared.
Cons of Bitcoin Gambling
A number of cons exist when gambling with Bitcoin.
The fact that cryptocurrencies are highly volatile is not something that bodes well with everyone, whether they use crypto for online gambling or not. Even BTC which is one of the most stable crypto coins is subject to considerable value fluctuations in short periods. So, as a crypto holder, your Bitcoin could be much more valuable overnight but it could also depreciate as well.
❌ Chargebacks not allowed
Once a Bitcoin transaction is approved and the funds have left your account, there is no reversal of the same transaction. This means that if you have any issues or disputes with the casino and would like to file for a chargeback, the option simply doesn’t exist. If the casino must refund you, they should do so in good faith and via a separate transaction altogether. This is one of the reasons why it is very important to choose and play with reputed Bitcoin casinos only.
📲 Mobile Bitcoin Casinos
Online casinos that support Bitcoin are certainly keeping with the technologies and trends of the times. Therefore, the fact that virtually any Bitcoin casino is mobile-friendly is fairly expected. Many of the most established Bitcoin casinos with huge numbers of users have the resources to publish dedicated mobile apps for Android and iOS. However, most Bitcoin casinos decide not to publish a dedicated mobile app since their websites are mobile-friendly anyhow.
Even if your Bitcoin casino does not offer an app for the mobile operating system you use, you can always simply visit the casino’s website from any modern smartphone or tablet, log in to your account as usual, and get playing.
Players may play their favourite games on their smartphones or tablets in real money or practice mode while using the mobile edition of a Bitcoin casino. Basically, you may play your favourite game from anywhere with a safe Internet connection. Additionally, since most Bitcoin wallets are available in the form of mobile apps, you can integrate your casino cashier with your Bitcoin wallet app seamlessly and make/receive Bitcoin payments with ease.
🔐 The Safety of Bitcoin Gambling
Because of Bitcoin's crypto decentralized nature, it might be argued that Bitcoin casinos are safer than regular casinos. Although cryptocurrency hacks and theft are prevalent, it's important noting that they're mostly limited to crypto exchanges and a major breach at a Bitcoin casino is not something that has been reported yet.
Bitcoin transactions are encrypted and validated many times throughout the network. The private keys used in transactions are extraordinarily long, making them incredibly difficult to decrypt and, therefore, potentially safer than using a credit card.
Given the multitude of Bitcoin casinos accessible, it's worth doing your homework to ensure you choose one with which you're entirely at ease. Proper licensing by a recognized gambling regulatory commission is the first thing to look for at a Bitcoin casino.
⚙️ Provably Fair Bitcoin Casinos
Aside from choosing a Bitcoin casino that is licensed by a reputed gambling commission, players should also do their due diligence in terms of reading through reviews of the Bitcoin casino website and checking online casino forums to see if the casino has any serious complaints or has been blacklisted for any reason. When choosing a Bitcoin casino or any online casino for that matter, it is important to choose a casino that’s certified ‘provably fair’.
This certification entails that the casino uses a random number generator algorithm that determines the results of all games in a way that is not directly controlled by the casino operator, thus making the results luck-based and fair. The ‘provably fair’ stamp further entails that the RNG algorithm itself has been subjected to third-party review and testing and has passed all quality checks.
👝 Bitcoin Wallets Available to South African Users
Choosing the right Bitcoin wallet can be a bit overwhelming given the abundance of choice that is out there. However, as long as you know your requirements and guardrails, picking the right wallet is not rocket science.
Some of the best options for South African online casino players when it comes to Bitcoin wallets and exchanges are:
These wallets have different strengths and drawbacks each, a little research about the wallet and knowing what you need from a wallet is key to finding the right match for you.
💰 Bitcoin Casino Sites with a Faucet Feature
So, what does it mean when a website offers a Bitcoin faucet? It is a pretty simple concept – the website will reward you with BTC (albeit very nominal amounts) for completing certain assignments. This could range from completing a certain number of captchas to watching advertisements from start to finish or providing your feedback on certain products, completing random surveys, etc.
Each time you complete a task, a small about of Bitcoin drips from the website into your Bitcoin wallet. There are a few Bitcoin casinos that are offering Bitcoins in exchange for you completing certain tasks, some noteworthy websites are Bitvest Casino, BetFury Casino and TrustDice Casino.
🚦 The Official Stance on Bitcoin in South Africa
South Africa recognizes cryptocurrencies as an investment and taxable income. South Africa has a number of different laws enforced to regulate crypto and thwart fraud, money laundering, etc. via crypto. The bottom line is that cryptocurrencies are legal for trading as well as online casino gaming at licensed casinos within South Africa.
Frequently Asked Questions (FAQs)
Yes, as long as you choose a Bitcoin casino that is licensed, trustworthy and reputed, you are in safe hands. In fact, since Bitcoin offers anonymity, privacy and have a cryptographic nature, they are even safer than other modes of online payment.
This will depend on where you live and the laws of the land. In South Africa, Bitcoin gambling is legal so long as you do it at licensed/permitted online casinos.
A Bitcoin casino no deposit bonus is when a Bitcoin casino rewards you with a small amount of BTC or a certain number of free spins when you register an account with the casino. A deposit from your side is not required to receive this type of bonus.
There are many perks to playing at Bitcoin casinos, this includes but is not limited to – fast transaction speeds, low processing fees, superior privacy and anonymity, etc.
Yes, many Bitcoin casinos offer their games in free or demo mode and you can play such games for free.
Getting a Bitcoin e-wallet is simple.
- You do not have to download it to your computer or mobile device.
- You can buy a bitcoin e-wallet.
- There are a large number of them available for free as well.
- Sign up with the e-wallet by providing the required information.
- Set a password to access the private key; it is as simple as that.
Summary: Final Word (Personal Author Experience with Bitcoin Casinos)
Personally, as a fan and owner of cryptocurrencies, playing at Bitcoin casinos has been a great experience for me. In fact, going back to non-Bitcoin online casinos and traditional modes of payment seem so cumbersome now that I’ve got a taste for the speed and privacy of Bitcoin casinos.
Having said that, it is important to choose the right Bitcoin casino and safety should be your number one priority when choosing a Bitcoin casino. Check out their licences and reputation to make sure you're playing at a Bitcoin casino that's both safe and fair.