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Although online gambling has been around since the mid-1990s, the Bitcoin casino space is still in its infancy. This makes sense when you consider that Bitcoin was only launched in 2009.
With that being said, there are now heaps of established Bitcoin casinos active in the online gambling scene, each of which offers a number of benefits that traditional operators cannot rival.
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- Deposit funds with a debit/credit card, Paypal, or bank transfer
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This includes the ability to deposit and withdraws funds instantly, without a need to upload any sensitive ID documents. Moreover, Bitcoin casinos typically offer highly lucrative bonuses to those that are yet to open an account.
As such, if you’re keen to explore whether or not a cryptocurrency gambling platform is right for you, be sure to read our in-depth Best Bitcoin Casinos Guide. Not only will we explain how the crypto-gambling arena works, but we’ll also list our top three Bitcoin casino picks of 2023.
Table of Contents
What are Bitcoin Casinos?
In a nutshell, a Bitcoin casino is an online platform that allows you to gamble from the comfort of your own home – or via your mobile device. This includes traditional table games like blackjack and roulette, slots, progressive jackpots, video poker, and even sports betting.
In this sense, Bitcoin casinos operate much in the same way as a traditional fiat casino. However, this is where the similarities end. As the name suggests, Bitcoin casinos accept cryptocurrencies, and only cryptocurrencies as a means to deposit and withdraw funds.
By not dealing with fiat currencies like the US dollar or British pound, Bitcoin casino sites are able to bypass much of the regulatory red-tape that the traditional gambling scene must comply with. At the forefront of this is the ability to deposit and withdraw funds instantly.
Ordinarily, online gambling sites average 24-48 hours just to process a withdrawal request. Moreover, Bitcoin casinos do not ask for any personal information when you first sign up, meaning that you have the capacity to gamble anonymously.
What are the Pros and Cons of Using a Bitcoin Casino?
The Pros
- Deposits and withdrawals are processed instantly
- Gamble anonymously
- No requirement to upload ID documents
- Thousands of casino games to choose from
- Sports betting and live poker also supported
- Software games are backed by regulated developers
The Cons
- Bitcoin casinos are not regulated
Bitcoin Casinos vs Traditional Casinos
If you’re yet to use a Bitcoin casino and you’re wondering whether or not to make the transition, below we have outlined some of the main benefits that crypto-centric platforms offer.
✔️ Account Opening
First and foremost, the account opening process at a Bitcoin casino takes just a few seconds. All you need to do is choose a username and password, and enter your email address.
On the contrary, traditional casinos ask for a wealth of personal information at the registration stage. This includes your full name, home address, and date of birth.
✔️ Deposits and Withdrawals
When it comes to making a deposit at a Bitcoin casino, the funds will be credited as soon as the underlying blockchain validates the transaction. If using Bitcoin, this takes no more than 10 minutes. This is one of the few metrics that traditional casinos supercede that of a crypto-casino, not least because debit/credit card and e-wallet deposits are instant.
However, it is the withdrawal process that makes all the difference when using a crypto-centric gambling site. This is because the withdrawal will be processed instantly by the casino, meaning you’ll have the funds in your private wallet in just a few minutes. On the contrary, traditional casinos take significantly longer.
For example, you will need to wait between 1-2 days just for the withdrawal to be processed by the casino. Then, you need to wait for the respective payment issuer to process the transfer. If opting for a debit or credit card, this usually takes an additional 3-5 days.
✔️ KYC
Know Your Customer – or simply ‘KYC’, is a major battleground for players in the traditional gambling scene. For those unaware, the KYC process requires online casinos to verify the identity of all the players on its site. This needs to be done before the casino can authorize the player’s first withdrawal request.
To do this, players must upload a copy of their government-issued ID (passport or driver’s license), and a proof of address (for example a bank statement or utility bill). In contrast, the KYC process does not exist in the world of Bitcoin casinos. As such, there is no requirement to upload any documents at all.
✔️ House-Edges
As we have noted throughout our guide thus far, the traditional online gambling industry is fraught with regulatory red-tape. With so much bureaucracy to comply with, online operators are forced to utilize valuable resources to meet these regulatory demands. These ever-growing costs are ultimately passed on to the player in the form of increased house-edges.
At the other end of the spectrum, Bitcoin casinos are not bound by the same regularly demands as the traditional space. This is because they have no relationship with fiat currency and thus – legislation does not apply. As such, Bitcoin casinos can pass these cost-savings on to their players in the form of a reduced house-edge.
What Games do Bitcoin Casinos Host?
Bitcoin casinos typically use the very same software developers as found in the traditional gambling scene. This allows platforms to benefit from highly experienced and well-resourced software providers, without needing to worry about developing games themselves.
Crucially, most software providers active in the online gambling space are regulated by bodies such as the UK’s Gambling Commission or Malta Gaming Authority. This means that the games go through a stringent testing phase before they reach the online space and thus – you can be 100% sure that the games are true and fair.
Here’s a breakdown of some of the casino games that you’ll find at a Bitcoin gambling site.
🥇 Table Games: Roulette, blackjack, baccarat, etc.
🥇 Slots: Video slots, bonus slots, themed slots, classic slots, etc.
🥇 Progressive Jackpots: Slot games with multi-million pound jackpot prizes
🥇 Live Dealers: Classic table games facilitated by real-world dealers
🥇 Video Poker: Heaps of video poker titles
🥇 Virtual Games: Scratchcards, keno, and virtual sports
🥇 Sports Betting: Thousands of pre-match sports betting markets
🥇 Live Betting: Bet on sports while the game is still being played
🥇 Poker: Live poker rooms across cash tables, sit and go, and tournaments
How do I Choose a Bitcoin Casino?
So now that you know the many benefits of using a crypto-centric gambling site – as well as the types of games you can play, you now need to start thinking about choosing a platform. Although there are heaps of Bitcoin casinos active in the market, no-two platforms are the same.
As such, you need to assess whether or not the casino is right for your individual gambling needs. To help you along the way, below we have listed some of the main factors that you need to look out for prior to joining a new Bitcoin casino.
🥇 Reputation
As the vast majority of Bitcoin casinos operate in an unregulated manner, you need to evaluate the reputation of the site before signing up. A good starting point is to spend some time searching the internet for customer reviews.
This will allow you to gauge whether or not the platform is credible, and crucially – whether your funds will be safe.
🥇 Gaming Suite
You also need to explore the extensiveness of the platform’s gaming suite. If you’re looking to play a certain game – such as live blackjack or Bitcoin dice, check whether or not the casino supports it.
Additionally, if you’re the type of player that likes a bit of variety when gambling online, make sure that the platform hosts heaps of game types. This should include table games, slots, live dealers, and video poker.
🥇 Autonomous Withdrawals
One of the most attractive aspects to using a Bitcoin casino is that you will benefit from instant withdrawals. However, this might not be the case with all platforms, so check this out before opening an account.
Ultimately, you should only choose a Bitcoin casino site that processes withdrawal requests as soon as they are made.
🥇 Security
As a decentralized currency, Bitcoin does not benefit from a third-party security safeguard such as those offered by banks. In other words, if your Bitcoin was lost or stolen, you would not be protected and thus – the funds would likely be gone forever.
As such, you should only use a Bitcoin casino that offers cutting-edge security controls. This should include 2FA (two-factor authentication) at a minimum. This ensures that you, and only you, are authorized to perform key account functions like withdrawals.
🥇 Bonuses
With the Bitcoin casino space getting more and more competitive, platforms are having to find new ways to attract players to their site. This usually centres on offering highly lucrative bonuses to those that are yet to open an account.
With that being said, you should opt for Bitcoin casinos that offer generous bonuses to new players. It is also notable if the platform offers ongoing bonuses to those that already have an account.
🥇 Customer Support
In-line with the borderless nature of Bitcoin and the underlying blockchain protocol, we prefer crypto-casinos that offer customer support on a 24/7 basis. In the vast majority of cases, this will come in the form of live chat.
Bitcoin Casino Bonus Offers: What you Need to Know
As we briefly noted in the section above, Bitcoin casinos will usually offer a welcome package to those that are yet to open an account. This is with the view of enticing you to their platform. Although the Bitcoin casino might lose out in the short-run, they hope that you will remain at the platform once the initial bonus has been consumed.
Think of it like a high street bank offering you money to open an account with them. While this does come at a cost, banks hope that you will remain a customer for many years to come.
As Bitcoin casino bonus offers come in a range of shapes and sizes, we’ve listed the main bonus types below.
✔️ Matched Deposit Bonus
This is where your first deposit is ‘matched’ by a certain amount. For example, let’s say that the Bitcoin casino offers a 100% welcome bonus of up to 1 BTC. If you were to maximise the promotion by depositing 1 BTC, the casino would match the deposit with an additional 1 BTC.
As such, your opening balance would be 2 BTC – even though you only funded your account with 1 BTC! Some Bitcoin casinos will offer multiple matched deposit bonuses when you first sign up. For example, while your first deposit might be matched by 200%, the following two might be matched by 50%.
✔️ Free Spins
If you’ve come across a promotion that reads “Bitcoin Casino Free Spins Bonus”, this means that the platform will award you a number of slot machine spins when you first register an account. For example, let’s say that the casino offers 20 free spins. Upon making your first deposit, you would then be able to use the 20 spins without needing to risk any money.
In some cases, crypto-centric platforms will also offer a “Bitcoin Casino Free Spins No Deposit Bonus”. As the name suggests, this means that you will get a number of free spins without needing to deposit any money. Although much rarer than a traditional matched bonus, no deposit bonuses do show up from time-to-time.
How Does a Bitcoin Deposit Bonus Work?
If you’ve never claimed an online casino bonus before, then it’s crucial that you understand the ins and outs of how they work before depositing funds. This is because you will be required to meet certain conditions before a withdrawal is permitted.
Below we have listed the main conditions that you need to look out for when claiming a Bitcoin casino bonus.
🥇 Wagering Requirement
The wagering requirement refers to the number of times that you need to gamble the bonus before you can make a withdrawal. This will always be stipulated as a multiple, such as 10x, 25x, or 50x. The higher the multiple, the more difficult it will be to turn your bonus funds into withdrawable cash.
For example, let’s say that you claim a 0.2 BTC bonus, with a wagering requirement of 20x. This means that you would need to gamble at least 4 BTC (0.2 BTC x 20) before you can withdraw your bonus winnings out.
🥇 Time Limit
Most Bitcoin casino bonuses will also come with a time limit. This is the amount of time that you have the meet the wagering requirement. If you don’t manage to do this within the stated timeframe, the bonus funds will be revoked by the casino.
You normally get 30 days to meet your wagering target, although some Bitcoin casino bonuses come with an expiry date of just 7 days.
🥇 Eligible Games
Upon claiming a deposit bonus, the Bitcoin casino will likely state that the bonus funds cannot be used on certain games. This usually includes progressive jackpot slots. Most importantly, certain games will also contribute less to the wagering requirement.
For example, table games like roulette and baccarat will often contribute just 10% of the amount being staked. As such, a £100 bet would only wipe off £10 from your wagering target. With that said, just make sure you check the terms and conditions to assess what games you can use the bonus funds on.
How to Join a Bitcoin Casino in 5 Minutes
Ready to get your Bitcoin casino journey started? Follow the steps outlined below to get set-up in just 5 minutes!
🥇 Step 1: Choose a Bitcoin Casino Site
First and foremost, you’ll need to choose a Bitcoin casino site that meets your needs. You can either perform your own research by following the guidelines discussed earlier in our guide, or go with one of the three recommendations listed below.
🥇 Step 2: Open an Account
You will now need to open an account with your chosen Bitcoin casino. In most cases, this merely requires a username, password, and email address.
🥇 Step 3: Deposit Funds
In order to fund your newly created Bitcoin casino account, you will need to transfer some funds from your private wallet. You’ll find your unique Bitcoin deposit address within your casino account portal.
🥇 Step 4: Gamble Responsibly
Once the funds have been credited by the casino (which should take no more than 10 minutes), you’re then ready to play your favourite game. Just make sure that you gamble responsibly. It might be wise to install betting limits to ensure your gambling endeavours remain under control at all times.
Best Bitcoin Casinos 2023 – Top 3 Recommendations
If you like the sound of what Bitcoin casinos can offer for your long-term gambling requirements, you will now need to choose a platform to sign-up with. Below we have listed our top 3 recommendations for 2023.
However, it is important that you still perform your own due diligence on the casino prior to signing up. This is to ensure that the casino is right for you.
1. FortuneJack – Best All-Round Bitcoin Casino
Founded in 2014, FortuneJack has amassed an excellent reputation in the Bitcoin casino space. The platform lists thousands of casino games - both in the form of software and live dealers. This includes table games like blackjack and roulette, slots, dice, video poker, and scratchcards. Moreover, you can also access heaps of progressive jackpot slots.
Some of these slots pay prizes of £1 million and more, as they form part of a much wider progressive jackpot network. FortuneJack is also a notable option if you want access to thousands of sports betting markets. This covers most major sports, both pre-match and in-play.
Crucially, all deposits and withdrawals are processed instantly at FortuneJack, and there is no requirement to upload any documents. In fact, you won't need to provide the platform with anything other than your email address. FortuneJack offers a huge welcome package for those of you with an account. This amounts to a matched deposit bonus of up to 5 BTC, alongside 250 free spins.
- All deposits and withdrawals are processed instantly
- Launched in 2014
- No requirement to upload any ID
- No requirement to upload any ID
2. mBit Casino – Trusted Bitcoin Casino With Huge Gaming Suite
mBit is one of the most established Bitcoin casinos in the space. In a similar nature to FortuneJack, mBit allows you to deposit and withdraw funds instantly, and there is no requirement to provide any supporting documentation. As such, you can gamble 100% anonymously. mBit stands out because of its huge gaming suite.
This includes more than 2,000 games across most casino products. For example, you'll find heaps of slots, table games, virtual games, and Bitcoin dice games. On the flip-side, there are no sports betting facilities at mBit, although this could something that the platform decides to add in the future. In terms of the fundamentals, all new players are offered a highly lucrative welcome package.
The platform has gone toe-to-toe with FortuneJack in this respect, by offering a huge 5 BTC matched deposit bonus. With that said, mBit goes one step further by adding 300 free spins. Finally, we also like the social aspect to mBit, as the platform offers an in-house chat facility that allows you to talk with other players!
- One of the most established Bitcoin casinos in the space
- Instant deposits and withdrawals
- Gamble 100% anonymously
- No sports betting or live poker facilities
3. 1xBit – Largest Bitcoin Casino Bonus of All Time
If your main priority is to target Bitcoin welcome packages, look no further than 1xBit. The platform's sister company - 1xBet, is well-known in the traditional gambling space - not least because it advertises heavily at a number of Premier League stadiums. Nevertheless, those that are yet to open an account with 1xBit will be able to claim a welcome offer of 7 BTC.
At the time of writing, this amounts to a real-world equivalent of just under £50,000! In terms of the platform itself, 1xBit offers a highly comprehensive casino suite. This includes heaps of variations to classic table games like blackjack and roulette, slots, and even live dealers.
In-line with its presence in the offline sports advertising scene, 1xBit also offers a fully-fledged sportsbook. This covers thousands of betting markets - both pre-match and in-play. While the odds on offer are reasonably competitive, 1xBit is known to offer small betting limits on less popular markets, so do bear this in mind.
- Largest Bitcoin casino bonus of all time at 7 BTC
- All player accounts are anonymous
- Withdrawals processed instantly
- Small betting limits on less popular sporting markets
Conclusion
If you’ve spent the time reading our in-depth guide from start to finish, you should now have a firm grip of what a Bitcoin casino is, how they work, and what you need to look out for before choosing a new platform. While we have also listed our top thee Bitcoin casino recommendations for 2023, we would suggest performing your own research prior to parting with your money.
This is to ensure that the platform meets your individual gambling needs – and should include key metrics such as reputation, withdrawal times, customer support, and the gaming suite itself. Finally, we have also discussed the ins and outs of Bitcoin casino bonus offers. As lucrative as some of these promotions are, just make sure you read through the terms and conditions before claiming the offer.
8cap - Buy and Invest in Assets
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Buy over 2,400 stocks at 0% commission
- Trade thousands of CFDs
- Deposit funds with a debit/credit card, Paypal, or bank transfer
- Perfect for newbie traders and heavily regulated
FAQs
How do I deposit funds at a Bitcoin casino?
Unlike traditional casino sites - which typically support debit/credit cards, bank transfers, and e-wallets, Bitcoin gambling platforms can only accept cryptocurrency deposits
What is the minimum deposit at a Bitcoin casino?
As Bitcoin casinos are not charged transaction fees when they process cryptocurrency deposits, there is usually no minimum deposit amount.
What is a Bitcoin no deposit bonus?
If your chosen Bitcoin casino offers a no deposit bonus, this means that you will receive the bonus without needing to deposit any funds. This is usually in the form of free slot machine spins.
Are Bitcoin casinos regulated?
As Bitcoin casinos do not have a relationship with fiat currencies, most platforms operate in an unregulated manner.
What customer support channels do Bitcoin casinos offer?
In the vast majority of cases, Bitcoin casinos offer live chat on a 24/7 basis.
Do Bitcoin casinos really offer instant withdrawals?
Most Bitcoin casinos will process your withdrawal request automatically. This means that the funds will be transferred to your Bitcoin wallet instantly and thus - it should take no more than 10 minutes to receive your winnings.
What is a Bitcoin casino bonus wagering requirement?
To prevent players from simply withdrawing bonus funds straight out of the casino, platforms will install a wagering requirement. This is the minimum amount that must be staked at the casino before a withdrawal will be permitted.
