Bitcoin Only Casinos
With the proliferation of online gambling over the past decade, the number of internet gaming sites continues to expand at a rapid rate. Online gambling has now taken over all platforms across the world, including mobile gaming. Online casino gambling has become a multi-billion dollar industry worldwide.
The vast majority of online casinos deal exclusively in fiat currencies like the US dollar, Euro or the Pound Sterling, but that is beginning to change. Gamblers now have the ability to wager their hard earned cash exclusively in Bitcoin. Online casinos that deal entirely in bitcoins have unique advantages over their fiat-based rivals.
Advantages over Traditional Online Casinos
One of the biggest edges that Bitcoin casinos have over their rivals is operational costs. Fiat currencies cost operators a lot of money in deposit and withdrawal fees. Not only that, but since the casino may have a extensive inventory of deposit options, they will need to employ a large service staff that is proficient in each of these choices to help players. This costs even more money.
With increased overheads, online casinos that deal entirely in Pounds, Euros, or Dollars are already a step behind Bitcoin casinos. Since they are forced to spend more money on payment processing, banking, and customer service staff, they are already spending significantly more than Bitcoin casinos.
At non-Bitcoin casinos, these additional expenses come at the cost of the customer. Whether that is a reduction in the odds of their slots or tables games, or charges for withdrawal requests. While attaching fees to withdrawals is almost nonexistent in the regulated online casino market of Europe, US players are regularly forced to pony up some of their winnings when they request a payout.
Another factor is payout speed. Bitcoin offers much faster withdrawals than traditional online casinos. Even the fastest fiat-based online casinos take 24-48 hours to process payouts. Many customers in unregulated markets have to wait several weeks or over a month to receive a check or bank wire. Also, don’t forget that they also being charged anywhere from $25-$100 per transaction depending on their withdrawal method.
Bitcoin casinos can process withdrawal requests sometimes instantly, but in almost all cases players are not waiting longer than 10-12 hours for their coins to be sent back to the address they have specified. Best of all, there is never a fee for depositing or withdrawing when playing at a Bitcoin casino.
Same Professionalism with Better Odds
As a currency, Bitcoin is no longer in its infancy, but it is now a global force. As I mentioned above, Bitcoin casinos can operate at a lower cost in comparison to their competitors. Casinos operating entirely in Bitcoin have grown drastically in recent years. Many of these casinos are worth $10 million or more. Though that isn’t much when compared to the billion dollar companies that use fiat currency, it is not something to be ignored.
When it comes to comparing the number of betting options and games, Bitcoin casinos are on par with some of the world’s biggest online casinos. Popular table games, such as Blackjack, Roulette, Craps and Baccarat are all available for wagering and along with numerous variations. There are dozens of slot choices and plenty of video poker options.
One of the top Bitcoin casinos online is BetCoin Casino, which offers a long list of options including three different types of roulette. BitCasino.io is another premier Bitcoin outfit that has more than 50 casino games available for customers.
These casinos, along with others have a professional design, excellent game graphics, rewards programs and deposit bonuses. Their sites and game selection are just as good if not better than fiat-based casinos.
Depending on what casino game is played, the casino’s advantage is usually much smaller than any brick n’ mortar casino or online casino that uses traditional currency. Bitcoin casinos rarely have edges higher than 3% and some payout as high as 99%. An average payout percentage for slots and other dice games is almost always between 96 – 99%.
These improved odds may not seem like a huge difference from a casino that pays out between 90 – 95%, but in the long run this small difference in percentage will cost gamblers thousands of dollars. To put it simply, Bitcoin casinos offer players the best chance to come out ahead against the house.
There is a large community that surrounds the Bitcoin gambling industry that does some superb self policing. These sites are secure and encrypted and players’ coins are usually backed up in an offline wallet for security purposes. Also, any site we recommend here has been reviewed and checked for fairness and reliability.