Advantages of Gambling With Bitcoin

Posted by Chris Spencer . Last updated:

Gambling with bitcoin is getting more and more popular for a reason. For many reasons, actually. From faster payout speeds to increased reliability, gambling with bitcoin is quickly becoming the currency of choice for today’s players. Below are just a few of the many advantages of online gambling with bitcoin.

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Bitcoin logo illustration with blue and orange

Security illustration with padlock on a fileReliability

The last thing you want when you’re looking to play a casino game is a declined credit card transaction. As traditional payment methods become less and less reliable, Bitcoin is making the process of depositing and withdrawing at your casino simpler, faster, and much more dependable.

Depositing with Bitcoin is easy and fast. You simply send your bitcoin to your casino’s public bitcoin address, wait a few minutes for the transaction to process, and then start playing.

There are a couple of things to keep in mind when depositing with bitcoin. The first is that bitcoin transactions are not reversible—once it’s sent, it’s sent. So always double-check that you’re sending bitcoin to the right address. The second thing to keep in mind is that while transaction fees are typically much lower than with traditional payment methods, there are fees for buying and withdrawing bitcoin—these fees incentivize Bitcoin “miners” to confirm your transaction quickly, which is related to the second big advantage of gambling with bitcoin.

Illustration with bitcoin logo and dollar sign being switchedFaster Deposits & Payouts

If you have done any form of online gambling before, then you know how frustrating casino withdrawals can sometimes be. With traditional currencies, withdrawals can often take anywhere between 1–7 working days, and sometimes it can be delayed by weeks. The reason why fiat transaction confirmations are so slow is because of the number of intermediaries involved. You are never really directly transacting with the casino—you’re dealing with banks and third-party payment processors.

Cryptocurrencies like Bitcoin, on the other hand, allow you to transact with the casino directly. Rather than storing your Bitcoin in a bank, you store it in your Bitcoin wallet or on an exchange, to which you have direct access. Without the intermediaries of traditional currencies, you can often complete deposits in 30 minutes or less and you can receive payouts in as little as 15 minutes.

Pile of coins with bitcoin logo onBig Bonuses

Online Bitcoin casinos have begun offering bigger and better bonuses for bitcoin players, and you’ll want to select a casino that provides you with the best bonuses. Some casinos are even offering welcome bonuses up to $7,500.

What kind of bonuses can you expect to see?

  • Welcome bonus: This is the bonus that you get when you register your account in a casino. It is usually a 100% match or a doubling bonus on your first-time deposit. Meaning, if you have a 0.5 Bitcoin deposit, they will double it and leave your account with 1 Bitcoin.
  • Deposit bonus: Some casinos give you a bonus every time you deposit into your account. These bonuses will be at a lower rate than your welcome bonus. For example, If a casino has a 15% deposit bonus, every time you deposit 1 Bitcoin to your account, you will get a 0.15 Bitcoin bonus.
  • Free spins: This is a bonus which is available in most Bitcoin casinos. The free spin bonus is excellent because it increases your chances of winning big. Some casinos give out a large number of free spins during special occasions, while some give them out all day.
  • Referral bonus: You receive the referral bonus every single time you successfully invite a friend to join a casino. While some casinos set limits on the total number of referrals, others give you unlimited invites.
  • No deposit bonus: A no deposit bonus can be thought of as a small preview of the casino. The casino gives a free bonus to your account, which will let you play some of the more popular games. In short, it gives you a brief tour of the casino experience.

Illustration of bitcoin logo and upwards arrowsHigher Limits

Many casinos and online gambling sites have begun to offer higher deposit and withdrawal limits for Bitcoin players. While traditional payment methods are often limited to deposits of $1,000 or less, on many sites Bitcoin players can deposit up to $5,000 or even $10,000.

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