Bitcoin has morphed from a little known payment tool to an asset the organizations stove to own because of its innate feature as a means of storage. In this beginner’s guide to gambling with Bitcoin, we shall see how to utilize this payment tool in gambling.
What is Bitcoin?
This is a peer-to peer payment instrument that practically eliminates the need for third-party services. It is easy to transfer from one person to another, it is also divisible and can be used as a store of value as well as a payment tool. These are all the features of money. The implication is that Bitcoin (BTC) can be used as money to transfer value.
Features Desirable for Gambling
Bitcoin Casinos have some features that have endeared it to the gambling industry. This is why many online casinos now support the use of the cryptocurrency to play games.
Anonymity
Bitcoin transactions are nearly anonymous. In fact, you would need an active blockchain analysis to track the origin and history of a coin. If such has not been linked to an individual through an exchange, it would be an even tougher job tracking the owner.
There are many gamblers that are not eager to reveal their identities, especially by using the more obvious conventional payment methods. This makes BTC an ideal form of payment for such players.
Low Fees
Everyone wants to save money. This is even more apparent when they make regular transactions that demand commissions and fees. We all know that these fees add up. Bitcoin eliminates the need for third-party payment processing platforms. This saves the users more money. For the casino and the player, this is a win-win situation.
Transparency
Transactions made on the Bitcoin network are transparent. This means that with the transaction ids it is possible for anyone to check the authenticity of any claims of payment.
The technology behind Bitcoin which is the distributed ledger technology (DLT) can also be used in tracking the fairness of the games available in a casino.
This is a confidence-building feature that gives the players the assurance that the games they’re playing have not been intentionally rigged to favor the house.
Speed
Bitcoin transactions are fast and easy to track. When a transaction is made, the receiving party can receive the coins instantly. When there is a transaction delay, the receiving party can easily check on the blockchain to know if the fund has been sent.
What Games Can You Play With Bitcoin?
There are many online casinos that support the use of BTC for gambling. These casinos would let you play available games if you have bitcoins. Some of the games that you can play with BTC are:
Bitcoin Crash
This game enables you to guess how high the multiplier goes. Guess correctly and win.
Bitcoin Baccarat
You can bet on the player, the banker or a tie in this card game.
Bitcoin Craps
This classic dice game gives you a lot of betting options and opportunities to exploit a low house edge.
Bitcoin Poker
Strive for a higher hand in BTC poker and win some good rewards.
Bitcoin Video Poker
Take the frustrations off poker by playing the BTC video poker version, which effectively is a more relaxing version of poker.
Bitcoin Sports Betting
Bet on your favorite teams in different leagues using Bitcoin.
Bitcoin Keno
This is one of the most exciting games. The same keno is available to be played with bitcoins.
Bitcoin Scratch Cards
This game enables you to reveal concealed prizes and win what you scratched.
Bitcoin Lottery
Everyone likes the lottery, even though few win. This allows you to play it with BTC.
Bitcoin Sic Bo
This dice game is strictly for you if you’re feeling lucky.
Bitcoin Rummy
Not ringing a bell, but Rummy is another exciting game to be played with BTC. Just know the right card to discard.
Bitcoin Bingo
Bitcoin also brings its excitement to the bingo game you already know. You could play the various versions of the game in BTC casinos.
Bitcoin Table Games
These are collections of the games you play on the table in the casino, now available with Bitcoin.
Bitcoin Live Dealer Games
Feel the connection with real people instead of playing with a machine. Live dealers give you the sociable feeling and still isolate you from the one-on-one contact.
Bitcoin Hilo
Predict that the outcome is either high or low and win on Hi-Lo with BTC.
Bitcoin Minesweeper
Navigate through the minefield safely while clearing them. Minesweeper has been monetized and available to be played with BTC.
Bitcoin Plinko
This ball game enables you to cascade and get the best of scores based on the slot your exit from at the base of the pyramid.
Bitcoin Slots
The one-armed bandit is well-known. You can even win the jackpot on it.
Bitcoin Dice
With 1% house edge, you can try your luck predicting the outcome of rolled dice.
Bitcoin Blackjack
Compare your card value with the dealer’s and win if you’re closer to 21 that they.