The whole point in cryptocurrencies (especially Bitcoin) is, quite simply, to do away with physical money once and for all. Is that overly ambitious? Maybe, but that was the stated objective announced by the mythical (and still unknown) Satoshi Nakamoto as he brought the world’s first blockchain network and digital asset online.
So if Bitcoin is going to substitute money, one of the things you must be able to do with it is to gamble. And it’s happening. Indeed, the blockchain industry would probably not be where it is today without online gambling sites powered by Bitcoin. Even in new blockchain networks such as EOS or Tron, the decentralized applications activity is dominated by gaming sites.
If you should think that this is too much of a specialized use case, well, maybe it is. But it’s one of the uses fiat currencies have all over the world and, over the last few years, many Bitcoin casinos have been incredibly successful.
There’s no shortage of Bitcoin-based gaming and gambling platforms. In fact, the number of available websites for this is enormous. In this article, we’ll offer you a bit of context for gambling with Bitcoin, and we’ll tell you about four Bitcoin casinos that w consider to be the best ones so you can choose the one that suits you better.
Also, in the last section, you’ll find a list of Bitcoin dice games which you should try out if you’re interested in gambling at a game in which the odds are closest to being mathematically fair.
Before we start, just a friendly reminder: before you proceed you need to make sure that gambling online is legal in your home country.
What is Bitcoin Casino?
Well, BitCoin casinos are basically just a website, just like any other traditional gambling platform. The main difference with BitCoin casinos is that they allow you to fund your gambling with cryptocurrencies (yes Bitcoin, but some others too in many cases).
As a matter of fact, some of these sites don’t take fiat currencies at all. This is not a dogmatic thing. There are real advantages in avoiding transactions in physical money: cashouts are faster, deposits are faster too, and the whole experience is more seamless in terms of usability.
Additionally, the irreversible nature of payments in cryptocurrencies obviates the “Know Your Customer” (KYC) process which is now the rule in traditional gambling sites and that can be very cumbersome, even a little intrusive.
But you could still need to provide some kind of identity verification, especially if you’re lucky enough to earn some big wins. That being said, 99 out of every 100 users have no problems at all in this regard.
Are Bitcoin Casinos Legal in the US?
Well, it’s not forbidden. The current regulations in the US say nothing specific about cryptocurrency gambling, and most certainly, it’s never been declared illegal at all. Online gaming, however, is restricted and regulated in most states in the union.
Laws haven’t caught up with the times to include the blockchain aspects of gambling explicitly in any way. In the whole of the country, only three states allow for any kind of gambling activity at all. Those states are Delaware, Nevada (home of Reno and Las Vegas) and New Jersy (home of Atlantic City), so no surprises there.
Some of the world’s casinos just play it safe and block most of all of the US IP addresses, but that has everything to do with gambling and nothing to do with digital assets per se. In short: there’s no reason to believe that gaming using cryptocurrencies is illegal in the US so far.
The BitCoin Casinos: are they provably fair?
Let’s start by clarifying what “provably fair game” means. It’s a game in which a third party verifies that the game was fair and that the casino isn’t messing around with users by manipulating the process or the results.
All the casinos in our list have a provably fair game section. If this is a subject that makes you a bit paranoid and you feel that BitCoin casinos are cheating you out of your winnings, then you should choose one of the casinos in which fairness verification is most straightforward.
Why choose a Bitcoin Casino?
There are three excellent reasons to gamble using Bitcoin Casinos. Anonymity, probability, and speed. Traditional online casinos have “Know Your Customer” programs (KYC) in which they require their customers to disclose some critical vital stats and personal information. This is cumbersome, and it verges on the intrusive at times.
You end up giving them all of your payment details and every bit of personal information that can pinpoint you anywhere in the world. Not so with Bitcoin Casinos. These platforms don’t ask you to disclose any personal information at all (few exceptions could apply if you score some big wins)
Then there’s the provably fair game factor. Most Bitcoin casinos offer provably fair games. This is a trend within crypto gambling that seeks to ensure fairness and transparency. You’ll hardly ever find that in conventional betting websites.
And, the other advantage is the speed. Some crypto-based casinos also accept fiat currencies, but if you deal in digital assets only, cashouts are very fast, seamless, painless. You get your money out in minutes instead of days, and you don’t have to keep checking your bank account to be sure you got paid.
So what is the house edge for this kind of casino?
For the casinos in this list, the house edge can be anywhere from 0.5% to 2%. It’s not so much about the casino but about the particular game you’re playing. It’s a remarkably low margin if you take into account that, say, slot machines in Las Vegas take 10%, and traditional poker can take up to 5% depending on the precise kind of card game you want to play.
So the house edge for Bitcoin Casinos is actually quite low when you compare it with conventional casinos. This has everything to do with the fact that they are based on cryptocurrencies. That way the costs to transact payments are much cheaper than in traditional fiat currencies. So that lower overhead in payment handling allows the house to keep its edge much lower.
Dice Games and Cryptocurrency
Cryptocurrency dice games are just a subset of the games offered in online BitCoin casinos. Dice games are trendy because being based on dice (obviously), the odds involved are quite easy to understand. An ordinary dice game can be as simple as this: you pick a number, roll the dice, and if your number comes out, you win. You lose if the result is any other number.
Even in traditional casinos, dice games is where the house takes the smallest edge. In some individual cases, the odds are mathematically fair (which means that there’s no house edge at all). The variety of dice-based games is immense so you can find the one that suits your taste for risk. And some of them allow for a high number of micro bets if you like that kind of thing and try out some kind of a strategy.
Most importantly: most of the games in BitCoin casinos are provably fair (the chances are that all games in crypto casinos are indeed fair), which means that the operation’s validity is valid and you can be100% that the house is not cheating on you.
This article’s final section provides you with a list of interesting crypto-based dice games.
And now, for the list:
The Four Best BitCoin Casinos
In an environment in which almost everything is new, mBit has antiquity going for it (in so far as that is possible for a technology that’s barely a decade old). It’s one of the oldest Bitcoin casinos in the world.
The company is based out of Curacao, in the Caribbean sea, so it follows the gambling restrictions, requirements, and regulations of the island, which, by the way, are quite generous as is apparent from the vast number of casinos based there. It also means that it’s a legal entity. The company’s main selling point is its increasing range of games, live dealer support, and a handsome deposit bonus.
The downside (if you can call it that) is that it accepts Bitcoin only and it has no plans whatsoever to broaden its business by including any other digital asset. That could change in the future, of course, but for the time being it’s Bitcoin or nothing.
This is another Bitcoin gambling platform that has earned respect and a good reputation in the community. It’s unsurprisingly based in Curacao as well. FortuneJack tries to attract as big an audience as possible by supporting hundreds of different games, so there’s something for everyone. As an additional advantage, it also accepts Litecoin and Dogecoin, which gives it a bit of a competitive edge compared to its competitors.
This is the big one. In terms of popularity, this is the biggest BitCoin casino in the world by far. If you haven’t guessed where it’s based, well, let us tell you: it hails from Curacao (are we detecting something of a trend here?).
It features more than a thousand games in its platform, and it keeps adding new ones regularly. It stands out from the rest for several reasons. It supports several altcoins as well as several more traditional payment methods.
While this is a bit eclectic for a so-called BitCoin casino, but it adds to the platform’s appeal and good reputation, as it has access to the traditional gambling markets as well as the crypto-gamblers.
Another exciting feature in BitStarz is their customer support. Its service doesn’t rely on web-based chats and contact forms (which is the painful rule in so many websites of all kinds).
The company takes advantage of social media and even Reddit to give customers the best possible service. Don’t get us wrong. There is good customer support in all of the casinos in the list. But BitStarz takes a more creative and proactive approach when serving clients. It walks the extra mile to make sure your gaming experience is painless and smooth.
It’s been around for years, and it’s built a solid reputation in the industry. It supports DOGE, LTC, BCH, ETH and, obviously, BTC. It features many bonuses and cashback options, and it offers frequent promos in which users can get some free spins. While the selection of games is not as big as in the other casinos in this list, it’s more on the classic side of gambling. Slot games, Poker, Roulette, Table Games, Jackpot games and High Roller are on the menu.
And now, as promised, let’s check out the list for the best Bitcoin dice games in 2019.
Best Crypto Dice Games for 2019
It’s fun and interactive, so if that’s your cup of tea, this is it. DuckDice.io is THE cryptocurrency dice game for this year. It has 500 gamblers at any time of the day, and it’s processed more than 2 billion bets so far. The user interface is very friendly and intuitive, and it has lots of options. If you’re not persuaded yet, the house edge is of 1%.
This is another excellent crypto dice game. It’s very much like DuckDice except that the house edge is even lower at 0.5%. And just like with DuckDice (didn’t we say that?) you don’t even need to open an account to play.
As a matter of fact, you couldn’t give the site your email address even if you wanted to because there is just no way of doing it. It’s a popular site that’s handled more than 200 million bets and flow of 100,000 BTC. The numbers are not as impressive as DuckDice’s, but they’re still outstanding.
BitDice is an excellent crypto dice game as well. It’s different from the previous two platforms in that it offers several other games not based on dice. And they’re quite particular to the site: Money Farm, Blast Boom Bang, Satoshi’s Secret, and Bit Aces, to name a few.
There are also more classic casino games like Black Jack and a Texas Holdem of sorts. It’s not as popular as the other two, but it’s different, and you should check it out if you’re looking for a bit of variety.
It’s a popular platform that concentrates on games that are fast, simple and very popular. Their dice game is quite popular as well, as it processes dozens of bets every second.
The chances are that every bet in this site is 100% fair and you can automate your bets if you’re looking to place many micro bets instead of a single big one. The dice game in this site has more than 2 billion stakes for bitcoin alone! Daily, the number of bets is of about 2.5 million. Also, there’s a chatroom for you to pick a conversation with fellow traders and players.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.