Bitcoin Gambling

There are estimates which indicate that roughly around 50-60% percent of all transactions using bitcoins fall into the gambling category, primarily because costs for Bitcoin transactions are exceptionally low or nonexistent, and payouts are performed instantly, anonymous and without any hassle.

Some suggest that Bitcoin will someday rule the gambling industry because of the many benefits that Bitcoin users enjoy. Read about some of the benefits in this article, and see what types of Bitcoin gambling there are.

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Benefits of Bitcoin Gambling

Many significant advantages make Bitcoin gambling sites more attractive compared to conventional gambling sites. One crucial factor is that Bitcoin involves very quick, immediate, anonymous and most of all secure transactions that can be extremely small, unheard for the gambling industry today (a single bitcoin can be divided even to the smallest fraction of 0.000000001).

We mentioned in the introductory text that half or more Bitcoin transactions today make up gambling purchases, and some predict a wider use in the future, extending more to sports betting compared with today. This is because Bitcoin players and sites can easily avoid restrictive jurisdictions that have caused many problems nowadays.

These are just some of the benefits of using Bitcoin gambling sites. Below you can read about the primary benefits that have made Bitcoin the perfect currency for online gambling around the world.

Legality of Bitcoin

Bitcoin is perfectly legal because there are no regulations for it, and no country has made efforts to recognize it and has proven useful for US players that are unable to fund their accounts at conventional gambling sites.

Free Transactions

Bitcoin transactions can be performed freely, as opposed to traditional gambling sites where players pay transaction fees, whether to the site itself or to some bank. There are no fees, or are extremely, infinitely small. You can make even 20,000 transactions with years of Bitcoin gambling behind you and still pay only a total of $30 in fees during all of those years.

Anonymity

Bitcoin gambling and betting sites won’t ask you for any personal details when registering, just choose a username and password and you are set. Some may ask you for your email, but generally that’s it.

Traditional online gambling and betting sites can be difficult when making payouts. With Bitcoin sites all payouts are within seconds, and totally anonymous.

Bitcoin Sports Betting

Traditional sportsbooks can be too much restrictive for regular players, since they may not accept players from many different regions, and tend to offer bonuses only to players from a handful of selected countries. So what alternative do players have?

The alternative is Bitcoin sportsbooks. They accept all players from around the world and due to the nature of the Bitcoin currency Bitcoin sportsbooks can offer way bigger bonuses. Moreover, you can wager on the same sports markets as in traditional sportsbooks.

What’s even better is that Bitcoin sportsbooks don’t charge fees for transactions of bettors, or if they do, they are insignificant. Money saved in transaction fees by the operators have been used to give bigger bonuses to players as mentioned above, but higher payouts too. There are Bitcoin sportsbooks that work for profit margin of only 2%, which is much lower than regular.

Bitcoin Casino

The convenience of using bitcoins for online wagering extends to casino gambling too. Since online gambling is illegal in most parts of the world, Bitcoin came as the new savior of this past-time activity. Casino players can reap the same benefits as sports bettors, poker or Bitcoin Dice players.

Bitcoin casino games, just like at traditional casinos, are audited for their fairness with a special technology called Provably Fair. With this technology players are ensured fair and random outcomes of the games offered at Bitcoin casinos using mathematical algorithms based on the provided data by the casino or the player. This makes it impossible for both the player and the casino to cheat or tamper with the outcomes.

Also, today’s Bitcoin casinos can offer much smaller house edge on their games, and the great thing is that Bitcoin casinos offer the same types of games as traditional ones. Usual games offered are:

Bitcoin Poker

This is another area of gambling where the Bitcoin currency has been gladly embraced. Now poker players can play poker online without worrying that they are breaking any laws pertaining to online gambling, since ultimately bitcoins cannot be tracked.

The main advantage that Bitcoin poker sites have compared to traditional ones, are the rake backs. A traditional poker site employs transaction fees, while Bitcoin poker sites pass those fees onto poker players and offer exceptionally low rake charges as low as 2.5%.

If you are new to gambling you may not know about the Black Friday in the USA in 2011. It was a day when poker sites were shut down and all funds of poker players that had accounts at those poker sites were seized. Since that day, Bitcoin poker sites have gained even bigger momentum.

Bitcoin Dice

Bitcoin Dice games, being extremely simple and easy to learn, have become one of the most famous Bitcoin gambling games, with the first game introduced with the SatoshiDice platform, one of the first and more popular Bitcoin gambling sites.

It’s based on the simple concept of throwing dice and wagering on the outcome. These are very fast games, and don’t require any skill. Just pick a number based on the odds for each number, wait for the computer to “roll” the dice, and see if you’ve lost or won. Your winnings are determined based on the odds.

This concept is completely automated process and regarded as completely fair, safe and transparent. There are several similar concepts of Bitcoin Dice games, and each is slightly unique compared to the other. These games have the lowest house edge in the gambling industry, and can go as low as only 1%, or as high as almost 2%.

Conclusion

All aspects mentioned here attract more and more operators and players each day to take this new and revolutionary path, a new avenue that massively leads them to the most liberating online gambling experience, with no legal obstructions, fees, or pending days for payments to arrive. Moreover, Bitcoin makes gambling as anonymous as it gets. if you’re looking to gamble with bitcoins, consider out top rated bitcoin gambling sites above.