Bitcoin casino employs the use of digital currencies known as bitcoins (BTC). Bitcoins have dominated the market since 2009 when they were first introduced. The bitcoin currency is unlike the flat currencies that include dollar or Euros. It is not linked to any bank including the central bank. Thousands of businesses have resulted to the use of bitcoins in conducting online retail services. The period beginning 2014 saw billion-dollar companies such as Dell (computer retail) and Overstock.com (online furniture) adopt the utilization of bitcoins.
Bitcoin Online Gambling
It is through bitcoin addresses that users can get the chance to transfer bitcoins. The addresses include a series of numbers and letters. The characters range from 27 to 34. The transactions are conducted free of charge. Unlike the bitcoin casinos, players cover the cost of transactions in other casinos. The processing fees are not only burdening to players but to the sites as well. The websites have to create bonuses and promotions to continue attracting customers.
Types of Bitcoin Casinos
Bitcoin-only sites specialize in the use of bitcoins to process online transactions. Moreover, there are still other casinos that strictly accept traditional forms of flat currencies such as the dollar or Euro. These sites will require a user to register using an address and a specific name for verification of identity. They will have to send a copy of their utility bills. Bank statements are also a requirement. Thirdly, hybrid casinos take bitcoin deposits but convert the bitcoins into a flat currency that is chosen by a user.
Bitcoin Casino Games
Bitcoin casino games come with luxurious odds as well as free deposits that are better than traditional online games. Slots -is one such bitcoin game that is most loved by gamblers. It gives payouts and other jackpots. It is followed by blackjack which has variations that can be chosen by users. It also has better payouts and is better than flat currency games. The roulette is another common game that has better odds for players.
Casino gambling known as provably fair is an innovative venture in casino gaming as well as in gambling. The gamblers are allowed to ascertain whether they are getting the right odds on all their bets. It is foolproof to enhance fair play. It is compliant to all gaming procedures and it allows verifications. It is rigorous process since it requires analysis by various hands.
Bitcoin Gaming Licenses
Gambling sites have various licensing seals to ensure their authenticity. There are some regulatory bodies that work to collect fees from the gambling sites and offer minimal oversight. However, the main requirement for gambling sites is that they maintain longevity.
Bitcoin Casino Checklist
Bitcoin casinos are marked by various items. They should be licensed to gaming. They should also have original bitcoin software for gambling. Sites with authentic software prove their credibility. They should also have a good reputation. Player reviews help to show how other players have performed. There should also be a guide that encourages gamers to play responsibly. They should be trained to understand bitcoins.