With the rise of Bitcoin a number of Bitcoin Casinos have appeared, and they are quickly becoming the preferred way to gamble online. So what makes gambling with Bitcoin so attractive?
1. Deposit and Withdraw Time
When you play at a typical online casino it can often takes days, weeks or even months to cash out and receive your winnings. It’s often not the casino’s fault, as your bank and payment processors handle casino transactions differently. Payment processors face massive risk of credit card fraud and are often forced to take extreme precautions with your funds.
With Bitcoin, transferring funds is as seamless since transactions are near instant and irreversible after a short period of time has elapsed. A bitcoin casino can credit your account as soon as it has received your deposit and also send your winnings to you immediately once you decide to cash out. The experience of using Bitcoin for funds is far superior compared to the traditional methods.
With Bitcoin you have the ability to hide your identity while gambling online. Most Bitcoin casinos will offer the ability to create an anonymous account with no identifying information required. Traditional online casinos will often request your name, address, credit card information, and other personal information such as your social security number. This information is needed to reduce fraud in most cases and create a trail to the player. With Bitcoin the only identifying information that is required is your Bitcoin wallet address.
3. Provably Fair
The rise of Bitcoin has created a new method for ensuring game fairness to the player, called Provably Fair. The cryptographic innovations of Bitcoin has inspired and lead to the concept of Provably Fair, first established in 2012 and since adopted by all major Bitcoin casinos. Provably Fair is a cryptographic method that uses hashes and digital signatures from both the player and the casino to ensure that neither the casino software nor the player can know the outcome of the next game being played ahead of time.
When gambling online at a Bitcoin casino that is Provably Fair, you can rest assured that your getting a fair game.
Bitcoin casinos provide immense value to players, often in the form of extremely low house edges on games and generous promotions. Offering provably fair games mean that there is no need to obtain expensive certifications. Savings can then be passed on to the player in the form of better odds and payouts.
The ease of use of Bitcoin often leads to a much better experience and innovate games for the player.
Bitcoin is an open protocol and all transactions can be verified though the global blockchain. The blockchain offers players the ability to follow and see their transactions. Using the blockchain any player can verify that the casino has the funds their reserves and that any bet made can be honored. Many people believe Bitcoin will create a new level of transparency in business with bitcoin casinos leading the way.
Bitcoin casinos go a long way to provide great customer support and transparency. Player trust is important when gambling, if a customer encounters a problem they can often discuss it in the open with the casino operators and other players, this transparency fosters trust and creates a better business in the long run.
Everyday millions of bitcoins are wagered, it is an exciting time for online gambling with Bitcoin leading the way.
If you are looking to get started with gambling with Bitcoin, check out CoinRoyale
CoinRoyale is a Bitcoin casino that offers a diverse set of casino games including Blackjack, Baccarat, Video Poker, Dice, and Roulette. CoinRoyale is an innovator in online casino gaming, providing players with a quality and trusted gambling experience. All games are can be played in the browser without download or registration, and are provably fair.