Bitcoin casinos have become exceedingly popular over the past couple of years. Obviously, this is down to the fact that Bitcoin has been in the news a lot recently. People have made a significant amount of cash selling their bitcoin on. As a result, more people are looking to get their hands on this currency. This has resulted in many online casinos opting to offer it as a deposit method. Owing to the popularity of Bitcoin, I figured I should take the time to put together a guide on getting started with using bitcoin at an online casino. We have a lot to cover here!
Choosing an Online Casino
This is the first thing you will need to think about. I have written plenty of guides on choosing an online casino in the past, so I am not going to dwell on this too much, but there are a couple of points that I wish to cover here.
Firstly, you will want to make sure that the casino that you select is licensed to operate in your country. I am going to assume that you are based in the United Kingdom. This means that you should be selecting an online casino which is licensed by the UK Gambling Commission. This is going to be especially important when you are gambling with Bitcoin. The problem with that while Bitcoin is popular, the lack of accountability when you buy and sell the currency means that the industry is ripe with scammers. If the casino is not licensed (it is illegal to offer gambling services in the UK without being licensed, by the way), then there is a chance that you could lose the cash that you deposit or, perhaps, you could run into other issues.
There are a few online casinos which only accept bitcoin as a deposit and withdrawal method. I am sure that these online casinos are great and all, but I am not a massive fan of them. When I select an online casino, I want to know that there are several different ways in which I can deposit money into my account. After all, Bitcoin is volatile. You do not want to stop gambling at a particular site because the value of Bitcoin has plummeted a lot, right? So, the more options available, the better!
When I am getting started at a new Bitcoin casino, I also like to check the average price that they offer for the Bitcoin I am depositing, but I am going to cover that in the next section!
Game selection is also going to be a massive factor when it comes to your choice of Bitcoin casinos. What you must remember is that while you may have plans to play a very specific game at the moment, you are likely going to want to play something else eventually. You really do not want to put the time and effort into tracking down a completely new casino, so it is nice to just have plenty of games available. One thing that you should really be on the lookout for here is the amount of live dealer games available. This is something which is going to be exceedingly popular in the future and something that you are likely going to want to check out. Honestly, it is probably one of my favourite ways to gamble at the moment.
The one issue I have with many bitcoin casinos at the moment, particularly those which only accept Bitcoin, is the fact that they tend not to have the greatest welcome bonuses in the world. Now, if you are sensible, you probably are not only going to focus on welcome bonuses when you sign up to an online casino. You will want to focus on whatever else the online casino brings to the table, but you should still consider what incentive you are getting for signing up to the casino. You should also focus on the loyalty bonuses which have been designed to keep you playing there. The better the loyalty bonuses, the more likely I am to stick around with the website.
Getting Started With Playing
I am going to assume that you already know how Bitcoin works i.e. how to buy it, Bitcoin wallets etc. If you do not, then that is out of the scope of this guide. You will need to put your research in elsewhere. If you do know how Bitcoin works, then you are ready to start gambling at some of the top online Bitcoin sites.
For starters, you need to remember that when you gamble with most Bitcoin casinos, you will be asked to ‘sell’ the bitcoin to the casino. You will not actually be gambling with the bitcoin. Instead, the bitcoin casino will buy it from you and give you some money in the local currency of that site. This is likely going to be in pounds. You will want to ensue that the online casino is giving you a fair amount of money for what you are depositing into the account. Reviews should set you straight on this one! You do not want to get ‘scammed’, after all!
Unless you are gambling at a dedicated Bitcoin casino, it is unlikely that you are going to be able to withdraw the money you have deposited in Bitcoin either. Instead, you will be withdrawing it in your local currency. This is actually one of the main reasons as to why people gamble with Bitcoin. In theory, if the Bitcoin currency is plummeting, then you can sell it to the online casino, gamble a bit and, even if you make heavy losses, you may still end up withdrawing more cash than the Bitcoin would have given you if you had sat on it for a while!
The online casino should make it easy to play with the cash, so have fun! Remember; make sure that you are gambling responsibly. It will make playing online that much more fun for you.