Bitcoin Casinos

One of the biggest problem areas for players at online casinos has been the time taken for withdrawals to reach them. The arrival of Bitcoin changed all that. Bitcoin, unlike regular fiat currencies, is a cryptocurrency. It is a virtual currency, which means you can only use it online. It is not regulated by any government or financial institution. And the biggest advantage: because it isn’t regulated, payments are instant.

The numerous advantages that Bitcoin provides over traditional fiat currencies have resulted in online casinos readily accepting it as a currency for payment.

As the name implies, a Bitcoin casino is any online casino that accepts payments and pays out in Bitcoin. The casino need not be exclusively crypto. Bitcoin and other digital currencies may be options, in addition to conventional e-banking methods. However, all a casino needs to do to be classified as a Bitcoin casino is to have the digital currency as one of the payment methods.

Online casinos have been slow in adopting cryptocurrencies, but times are changing. There has been a surge in cryptocurrencies and some online casinos only accept and pay in cryptocurrencies. Operators are trying to give a new dimension to crypto gaming. Some operators even publish a few strategies, which suggest that playing with them would give them a winning edge.

Here are a few salient features of Bitcoin casinos:

• Bitcoin casinos often have lobbies of games, which can be played only with Bitcoin. Some of the games may not be found at non-Bitcoin casinos.

• Many Bitcoin casinos actively promote the use of cryptocurrencies with bonuses, which can be claimed only through Bitcoin deposits.

• Bitcoin transactions carry nominal or no processing charges

• Bitcoin transfers are instantaneous, be it inward or outward remittances

• Bitcoin networks are decentralized, so players enjoy a high degree of anonymity

Bitcoin Casino Bonuses

Online casinos rely on heavy promotional activities to attract new members and keep them active on the site, and Bitcoin casinos are no different. The bonuses are the same for Bitcoin and fiat currencies, but if you are a Bitcoin user, you can benefit from the bonuses by playing with Bitcoin. You still have to abide by the rules of each bonus, so read the fine print carefully.

Here are some of the different types of bonuses offered by online casinos, including Bitcoin venues.

No-Deposit Bitcoin Casino Bonuses

Not many Bitcoin Casinos offer no-deposit bonuses, but those that do, use it to attract new members. No-deposit bonuses are generally given to new members just for opening an account. The bonus does not involve a deposit and can come in the form of free spins or free Bitcoin chips.

The casino expands its user-base, while the new member can play for free with a chance to earn real money. There are certain restrictions when it comes to withdrawing winnings from a no-deposit bonus:

You may only withdraw any winnings from a no-deposit bonus after making at least one deposit at the casino. Winnings from a no-deposit bonus generally have a withdrawal ceiling.

Bitcoin Casino Deposit Bonuses

Deposit bonuses are a percentage of your deposit, which is added to your balance by the casino. The bonus boosts your playing budget. Deposit bonuses are those that can be played after you have played out your welcome package, or not played with it at all. Here are some things to consider about deposit bonuses at Bitcoin casinos.

• The welcome bonus is a typical example of a deposit bonus, though the latter is only for the 2nd deposit onwards

• Deposit bonuses can be complemented with a number of free spins, to be played on designated games, the casino wants to promote

• Deposit bonuses are also called match bonuses since the casino ‘matches’ your real money deposit with a percentage of its own.

No Wagering Bitcoin Casino Bonuses

All casino bonuses must be wagered a number of times, as specified under the bonus rules before any monies can be cashed out. This does not apply if you’re willing to only get your deposit back. Casinos have wagering requirements to prevent misuse. Players can use the bonus, withdraw the money, and just skip to the next casino and a new bonus.

However, sometimes operators will allow bonuses and winnings to be withdrawn without playing them through as a special, temporary promotion.

Bitcoin Casino Reload Bonuses

Reload bonuses are the same as deposit and match bonuses. They are only offered subsequent to the initial deposit, usually with the welcome bonus. Reload bonuses are so named as you are required to ‘reload’ your account balance with a deposit, and have the casino add a percentage of it. It is also called a deposit booster, as the casino ‘boosts’ your deposit.

All of these bonuses are offered daily, or weekly, or monthly. Reload bonuses can also have multiple percentages depending on the deposit amounts.

Loyalty Rewards at Bitcoin Casinos

The majority of Bitcoin casinos feature loyalty programs, where members are rewarded for frequent play, and staying loyal to the casino. Loyalty programs are modelled around the premise that the more you deposit, the more you are rewarded.

Members get loyalty points with every deposit on qualifying games. The points may be collected and exchanged for cash or bonuses. Most loyalty programs feature a multi-level VIP Club, which brings more benefits and privileges.

All successive levels of the VIP Club have higher points thresholds. And every level you rise to bring successively higher privileges, as mentioned. Your points to cash ratio improve at each level. Other benefits include special bonuses, VIP tourneys, a VIP host, express cashouts, paid vacations, etc.

How to Deposit and Withdraw Funds at Bitcoin Casinos

Making deposits and withdrawals at Bitcoin casinos may seem a bit challenging to new adopters. The registration and identity verification processes may seem overwhelming. However, using Bitcoin is really simple once your BTC wallet is set. Bitcoin transfers are lightning-fast and, in some cases, free of cost. To start, here is what you should do:

• Register at a BTC exchange or wallet

• Purchase some Bitcoin with fiat currency

To Make a Bitcoin Deposit

• Log in to your Bitcoin casino account

• Head to the ‘cashier’ and click on ‘Deposit’

• Select BTC as your mode of payment

• Enter or copy/paste or scan the QR code of the address of your BTC wallet

• You may have to confirm the address

• Enter the deposit amount in BTC

• Click on a bonus, if available

• Submit the transaction

Your Bitcoin deposit will be added to your casino balance in seconds, along with the bonus money, also in Bitcoin.

To Withdraw Winnings in Bitcoin:

• Log in to your casino account, once again

• Go to the ‘cashier; but this time click on the withdrawal tab

• Again, select BTC as your payment method

• Enter or copy/paste or scan the QR code of your BTC wallet address

• Enter the BTC amount you want to cash out

• Submit the cashout request

You will immediately receive a mail confirming receipt of your withdrawal request. After your account is duly verified, your funds will be released and will land in your wallet within seconds.

Most Popular Games at Bitcoin Casinos

Punters play casino games to win, but they also want to be entertained. The size and diversity of the games catalogue is an important aspect of a Bitcoin casino. Gaming studios strive to outdo each other in graphical sophistication, mathematical innovations in slots, extra diversity in live casino games, etc.

Games libraries of the first casinos were populated by single vendors who created games in all casino categories. Gradually, the number of providing studios increased, and now Bitcoin casinos can have games from 50 to 100 of the most sought-after gaming studios. Modern Bitcoin casinos now feature games in the thousands. Most Bitcoin casinos allow you to play virtual games in demo mode.

Here is some additional information about the various games categories.

Slots

Slots are the most popular category of casino games; they are no-brainer games of chance. Classic fruit slots were all the rage in physical casinos, but the digital age unleashed a slots revolution. Studios started churning our video slots in themed narratives, scintillating graphics, and player-friendly bonus features. There are no more reels, rows, and mathematical innovations in paylines.

Slots are the bread and butter of online casinos, Bitcoin or otherwise. They have a higher house edge than all other categories, which is why operators promote slot games in their promotions. Many slots have multiple fixed jackpots, while others have large progressive jackpots. The winnability of slots games is measured in the return to player (RTP); the average RTP of slot games is 96%.

Table Games

Card games and roulette have their own appeal. They have been around for centuries and are the games around which the first land-based casinos were built. The games have set rules, which allow players to strategize and develop skills. Thus, table games are games of chance, which can be turned in one’s favour with patience, and by playing with strategy.

Since table games have set rules they do not lend themselves to multiple variations. That is why lobbies of virtual table games are relatively smaller. However, as long as they contain card games and roulette versions, which are played universally, there is little to complain about. At online casinos, table games are played against the system dealer, which may be become tiring, which is where live casino comes in.

Live Casino

It took over one-and-a-half decades for live streaming technologies to seamlessly beam live games from remote studios on players’ devices. Live dealer games are now a standard feature in Bitcoin casinos generally. These games simulate the excitement of real casinos with live dealers and real props. Players can interact with other remote players, instead of playing by themselves against the system.

If you notice, live games come in multiple variations, even though the rules of the games are the same. This is because the focus is on providing multiple real casino experiences, rather than creating game variety. Apart from popular card games, and roulette fixtures, live casino games also include games shows inspired by TV shows, board games, and popular slot titles like Gonzo’s Quest.

Video Poker

Video poker is 5-card poker played on slot-like consoles. Video poker was developed at the height of the video game boom of the nineteen seventies and soon became a popular casino category. Video poker reached the peak of its popularity when live poker tournaments enriched players. Since results are randomized, you don’t need poker skills, but if you have them, you can do really well.

Video poker has the lowest house edge, and each title can be played in single and multiple hands. The more ambidextrous you get, the greater your winning edge. In the present, the category’s attraction has diminished somewhat. Many modern casinos do not feature video poker at all, and those that do, club them in the table games section, or the poker lobby, if there is one.

Progressive Jackpots

Progressive jackpot games are networked locally (single casino), domestically (state or country) or globally. Worldwide systems have thousands of players bet on these games simultaneously from wherever the games are available. A part of the wagers is collected in a separate pot, which keeps ticking into hundreds of thousands and even millions.

While a majority of progressive jackpots is set in slot games, they are also found in card games, roulette, and casual games, though the latter are rare. Many Bitcoin casinos display the total values of their games; you can know whether the jackpots are part of a local or global network. Many of them also display the values of individual games, so you can decide when to join the betting fray.

How to Choose a Bitcoin Gambling Site or Casino

Choosing the right Bitcoin casino can be a tricky proposition. Preferring one Bitcoin casino over another may be a matter of personal choices. It can also depend on your location. However, there are certain things that a reliable Bitcoin casino must offer.

Ultimately, it boils down to personal experience, which is usually through trial and error. But before you open an account, make sure the casino under consideration is even worth a try. Some research can help. You can read professional reviews or visit some gaming forums.

Casino License: The first thing to look out for in your future casino is its license. The golden rule of iGaming is to play only at licensed casinos. Some regulators carry more weight than others. Even a relatively weak regulator offers more protection than an operator who is not answerable to authority.

Bitcoin Support: A Bitcoin casino supports BTC, but you must check whether it supports your Bitcoin wallet. For safety reasons, it is desirable that you make deposits and withdrawals through the same wallet. If you can easily change wallets, fine. Otherwise, look for a casino that supports your BTC wallet.

Security: Read the terms and conditions and the Privacy Policy. Check what kind of security firewalls is used; the industry standard is SSL encryption. The games should be regularly checked for the Random Number Generator (RNG). Also, see whether the casino offers tools to prevent excessive gaming.

Bonus Offers: This is not a good yardstick to check the desirability of a Bitcoin casino unless you love to play with bonuses. However, you risk becoming trapped in an endless cycle of wagering. Look for a self-assured Bitcoin casino, which does not have to rely on bonuses to keep things active.

Customer Support: You will require customer support at a Bitcoin casino. Ideally, customer care should be available round-the-clock via live chat, e-mail, and preferably a toll-free phone. You can test the responsiveness of the casino by asking a few questions through live chat before registering.

Mobile Compatibility: It’s very desirable that your chosen Bitcoin casino be compatible on Android and iOS devices. However, this is the age of gaming on the go, so online casinos are obliged to have a separate mobile platform. It may be in the form of a downloadable mobile app.

Online Casino Software Providers that Accept Bitcoin

As mentioned, the majority of modern casinos, including Bitcoin casinos are multi-vendor venues, and there can be anywhere from 30 providers to more than 100. Many studios feature BTC as an in-game currency, so players can quickly decide how many BTC bets to play with and keep an eye on the BTC balance. There are many leading studios, which have BTC is displayed on the game consoles:

Games Global (formerly Microgaming): Games Global is reputed to be the first gaming studio to populate the first functional online casino. The studio has always been an industry trailblazer and has pioneered several developments, including recognizing the potential of Bitcoin. The studio was the first to include Bitcoin in its games, and display the crypto-currency on game consoles.

Real Time Gaming: Like Games Global, RTG is an industry pioneer that can populate entire casino libraries. Real Time Gaming was also one of the earliest gaming studios to understand the gaming potential of cryptocurrencies. Bitcoin is the market leader and RTG was quick to adopt it as an in-game currency.

NetEnt: NetEnt makes games in all casino categories, but is mainly celebrated for its slot games. NetEnt pioneered many gaming trends, including features, bonuses, and math dynamics. The game studio has created some of the most iconic, branded slot games. It is one of the most prominent brands at Bitcoin casinos, where players bet on the studio’s games in BTC, which is one of the currencies displayed on consoles.

Pros of Bitcoin Gambling

🔐 Privacy and Anonymity: Bitcoin transactions do not have you submitting any personal information. All you have to provide is the physical address of your BTC casino. Hence, your identity is not revealed; Bitcoin transfers confer a high degree of confidentiality. Many gamers like to remain anonymous. Since personal data is not involved, there is no risk of it being sold or shared with data-mining companies.

🔄 Peer to Peer Transactions: Bitcoin transactions take place directly between the sender and recipient. There are no external parties involved, like credit card companies, and banks. The BTC wallet does not have the power to interfere with the fund transfer in any way. For example, there is no way the transfer will be blocked, or reversed. This also reduces costs, as you will see.

💰 Low Transaction Costs: Since Bitcoin transfers are peer to peer, and there are no intermediaries, there is no one to charge significant processing fees. The BTC wallet needs maintenance, but the cost is negligible. Certain Bitcoin wallets charge no processes at all.

📋 Taxation: Many countries discourage the use of cryptocurrencies like Bitcoin. However, the upside is that Bitcoin is not considered a taxable asset, which can be taxable. That means Bitcoin winnings do not constitute taxable income. You can enjoy all the benefits of Bitcoin without having to pay the taxpayer.

🚀 Transaction Speed: Bitcoin transactions are completed in a matter of seconds. In sharp contrast, conventional e-banking methods take anywhere between 1 to 5 days. Once a Bitcoin releases your BTC funds, they reach your bank instantaneously.

Cons of Bitcoin Gambling

📈 Volatility: Crypto-currencies are volatile, they can grow and decrease in value frequently, and considering their values in fiat currencies, the impact can make or break lives. This is one of the reasons that individuals and governments are both hesitant about adopting and regularizing Bitcoin and other cryptocurrencies.

❎ Chargebacks Not Allowed: Once a Bitcoin withdrawal has been approved by the wallet, and the funds leave your account, the transfer cannot be reversed. If you have any issue with the casino, and the deposit amount needs to be refunded, you have to make a new cashout request, and the casino would have to transfer the money in good faith. That’s why it is important to play at a trusted Bitcoin casino.

Mobile Bitcoin Casinos

This is the age of gaming on the go, where even software studios focus on mobile-first games. Mobile compatibility is no longer an issue since no Bitcoin casino worth its salt neglects mobile gaming. If you suffer from unreliable connectivity, see whether there is a downloadable app that can allow you to play offline. If it’s an instant-play platform, check the mobile website’s functionality.

The majority of mobile casinos are miniature versions of the PC platforms in layout and design. However, the main links are usually clubbed into hamburger menus to save space. Load the casino on your browser and navigate it. Play the games in demo mode, and check how fast they load. However, all mobile platforms have JavaScript and HTML5 mobile interfaces, so there’s not much to choose from.

If the Bitcoin casino allows you to play games in demo mode, you can play them on mobile as well. Your account at the casino is the same irrespective of whether your play on your desktop or while on the move; you can use the same login credentials. The HTML5 mobile interface restructures to all sizes of mobile screens allowing you to enjoy the games in original audio-visual quality.

The Safety of Bitcoin Gambling

Bitcoin transactions are not subject to the supervision of a central authority, so they offer relatively more security than conventional e-payment methods. Bitcoin transfers are encrypted and validated throughout the network. The keys used are incredibly long, making them difficult to make sense of. Thus, it’s virtually impossible to hack Bitcoin and make fraudulent transactions.

Bitcoin casinos have their own safety considerations, which have been covered in an earlier section. It cannot be overemphasized that you should not simply play at an unlicensed casino, even if it is a Bitcoin establishment. Other methods to stay safe include storing your login credentials in a safe place, and remembering that gaming is a mode of entertainment; you must play only what you can afford.

Provably Fair Bitcoin Casinos

It’s important to verify whether your Bitcoin casino has provable fair games. It is easy for unscrupulous operators, even if they are licensed, to undermine the integrity of games results, and tamper with them. This can result in players losing a lot of money. This is why the software of casino games is regularly vetted for the presence of the Random Number Generator (RNG), an algorithm that triggers chance results.

Many Bitcoin casinos have the logo of the RNG auditor on the footer of their websites. Dig a little deeper and you can see their certificate, which verifies that the casino games are ‘provably fair’. The stamp also ensures that the RNG software itself has been subject to audits and independent reviews. This fully demonstrates to the authorities that all games results of the Bitcoin casino are fair.

Bitcoin Wallets Available to South African Users

New Bitcoin wallets crop nearly every day; all of them tout themselves as the most secure and the confidential, etc. Of course, you can’t take their word for it, but you can check their claims, and pick a wallet that resonates with your needs. You may need to trade off certain features against those that are more beneficial for you, like being friendlier towards South Africans. Some prominent Bitcoin wallets for players from the Rainbow Nation are:

• Coinbase

• Binance

• Exodus

• Luno

• MyCelium

• eToro

• CoinCorner

• Electrum

• Gemini

Bitcoin Casino Sites with a Faucet Feature

Not many players know about the Faucet feature of Bitcoin casinos. The operator pays you nominal amounts of Bitcoin for doing small tasks like completing captchas, taking surveys, providing feedback on certain games, watching advertisements, etc. The ‘faucet’ is opened, and a drop of Bitcoin is added to your account balance.

Examples of such casinos are Bitvest Casino, BetFury Casino, TrustDice Casino, etc. However, the Faucet feature may play only a small part in choosing a Bitcoin casino.

The Official Stance on Bitcoin in South Africa

South Africa is Bitcoin-friendly. The country recognizes crypto-currencies, including Bitcoin as a taxable asset. There is comprehensive legislation to regulate the use and trade of Bitcoin to prevent money laundering and fraudulent transactions. Bitcoin is legal both for regular use, and gaming at licensed online casinos providing their services to South African players.

Bonuses at Bitcoin Casinos

One of the things that make Bitcoin casinos so popular among players is that you get the same promotions as at any other online casino. The added advantage is a super-fast payout timeframe. All the usual bonuses are there, and some casinos even offer special bonuses for opting to pay in Bitcoins.

The following are some of the bonuses you get at Bitcoin casinos.

No deposit bonuses:

At quite a few Bitcoin casinos you get cool no deposit bonuses. All the standard no deposit bonuses are there at these casinos:

Standard no deposit bonuses:

You get a nominal amount of money, usually up to R300, as a bonus on signing up. You do not have to even deposit funds to claim this bonus.

Free spins no deposit bonus:

You get a specific number of free spins that you can use to play a specific slot or range of slots. The slot(s) covered by the bonus are mentioned usually in the promotional information.

Deposit Match Bonuses:

All players at Bitcoin casinos get deposit bonuses. New players get them as part of the welcome bonus package. The casino matches your deposit with one of its own. The match deposit is offered usually on the first deposit. An example of this kind of bonus can be seen at mBitCasino, which offers a welcome match bonus of 110% up to 250mBTC/1.5BCH/3ETH/15 LTC/450,000 DOGE/€2500.

However, nowadays a number of Bitcoin casinos are offering it across multiple deposits, usually up to the first 3 or even 5 deposits. A good example of this is Yebo casino, which offers a welcome bonus of up to R12000 on the first 3 deposits.

Some Bitcoin casinos go one step further by offering the match deposit bonus in combination with the free spins bonus. The casino matches your deposit and also gives you a specific number of free spins on a specific slot or range of slots. You see this kind of bonus at 24VIP casino: the welcome bonus is a 100% match up to R10,000 and 240 free spins – 24 free spins a day for 10 days post the completion of the match bonus.

Reload Bonuses:

These are deposit bonuses that are offered to a player once he has run through his welcome bonus package. They are ideally match bonuses of anywhere between 25% and 100% or even higher. Sometimes a free spins component is attached along with the deposit bonus.

Cashback Bonuses:

They are offered as appreciation of a player’s loyalty to the casino. A cashback bonus allows a player to recover some of the losses incurred through wagering for real money over a specific period. A casino can offer it once a month, weekly or even daily.

Referral Bonuses:

Casinos offer referral bonuses to players for referring their friends. The bonus is available once the friend the player has referred signs up for real money play and makes his first deposit.

Payments and Withdrawals @ Bitcoin Casinos

Bitcoin casinos are great because they offer one of the quickest ways of depositing and also withdrawing funds – by using Bitcoins as currency. Bitcoin transactions are fast and anonymous. Since Bitcoins are not regulated by government authority or financial institutions, it is all yours to use as you want. There are no transaction fees involved, except a minimum fee. That is one of the main reasons why, in a country like South Africa where gambling laws are still vague in many areas, Bitcoin is rapidly becoming a very viable solution for players.

Making payments with Bitcoins is easy: you sign up with the casino and choose Bitcoin as the currency for payment. You are then provided a Bitcoin address. Once you make a payment you are required to confirm it, which takes a maximum of an hour. Once the payment is confirmed the money reaches your account; it is that quick.

Basically there are two things you need to make a Bitcoin payment: Bitcoins and a Bitcoin wallet. The Bitcoin wallet is where you can store your Bitcoins. There are a number of different Bitcoin wallets available online; you can download one of them to your computer, laptop or mobile device. There are also online wallets that you can use by opening them directly from your computer or smartphone.

One of the most reliable is Blockchain; it cannot see your balance or even transactions regardless of the number of transactions you make. Another kind of Bitcoin wallets are the hardware wallets; these are highly secure.

A Step-by-Step Guide to Bitcoin Payments

To make payments with Bitcoins just follow the steps listed below.

1. Log in to a Bitcoin casino. If you don’t have an account yet you can sign up by clicking the Sign Up or Register Now button at a Bitcoin casino of your choice.

2. Once you have signed up/logged in, click the Banking or Cashier tab.

3. Select Bitcoin as the preferred currency for payment from the list of payment methods provided.

4. On the resulting screen, enter the amount of Bitcoins you want to deposit.

5. Follow the instructions on the subsequent screens and finally click Submit to confirm the payment.

The Bitcoins get transferred to your casino account instantly.

The process for withdrawing using Bitcoins is more or less the same as it is for depositing. There is just one additional step: once you have filled in the details required and clicked Withdraw, you have to enter the public key address of the Bitcoin wallet to which you are withdrawing the Bitcoins. You can do this by one of the following steps:

• Type in the alphanumeric string of the address in the given field. You can also copy and paste the address.

• Scan the address as a QR code. This is possible only in those Bitcoin casinos that have this option.

Once you have entered the public key address, confirm the transaction. The Bitcoins are transferred to your Bitcoin wallet instantly.

In my opinion, Bitcoin gaming offers more advantages than the opposite, as we have seen throughout this review. Bitcoin is the most popular cryptocurrency and can be a very good investment. Yes, there are limitations in terms of conversion to fiat currencies and country-wide restrictions. 

However, in countries where it is legal, like in the Rainbow Nation, Bitcoin gaming can be very convenient, while you keep getting richer; except for brief periods, Bitcoin has only gone up in value against fiat currencies. Whichever way, you look at it Bitcoin gaming has a good future.