Gambling with Bitcoins has become a fun way to earn more digital currency but how does it compare to conventional online gambling? Here, we’ll outline why you’ll never want to go back to gambling the old-fashioned way.
Signing up for a casino account using Bitcoin requires nothing more than an email address and password, most of the time. No credit card information, no banking details, just the bare necessities. Your anonymity is pretty much intact and your private details are in no way at risk. Just be sure to secure your e-wallet as per the prescribed methods.
Once you have set up your e-wallet and registered an account with your preferred casino, all you need do is transfer Bitcoins to that casino’s address and you’re instantly ready to play. Some deposit methods such as bank or wire transfers take as long as 3 days for your deposit to be processed. With Bitcoin, playing is just a few clicks away.
Some casinos do not have a minimum or maximum deposit requirement when it comes to Bitcoin players. In fact, some will even offer you a no-deposit bonus as a new player. Here, you are given a small bonus, without you having deposited any funds, which allows you to test out the game and win Bitcoins with no risk to you.
Another advantage is that most casinos do not charge a fee for processing your Bitcoin deposit while charging as much as 2.5% for credit card or other e-wallet transactions.
Your odds are better with Bitcoin. A casino will normally attach the hit it takes with processing fees (for conventional payment methods) to the odds offered to a player. With Bitcoin, there are little to no processing fees, resulting in the casino favouring the Bitcoin player with better odds.
With regards to the withdrawal, it is instantaneous with Bitcoin as opposed to other payment forms, such as credit card or bank transfers, that can take as long as 1-3 days to process. You may also have to pay taxes on your winnings depending on the financial authority that regulates that particular casino, should you be using a conventional form of currency.
As illustrated, it certainly pays to play casinos with Bitcoin facilities which have opened up to a whole new market of people who would rather put their trust in a digital currency provider than a banking institution. They have made earning Bitcoins a form of entertainment with great rewards; modernising the gambling experience for the tech-savvy.