Gambling Bitcoins – Listing Reputable Bitcoin Gambling Sites
Bitcoin gambling continues to change the face of the online gaming industry in a big way. The crypto-currency offers a wide range of benefits to players, especially to those that live in the US. No more credit card declines, no more waiting weeks for a payout. Bitcoin is a solution to many industry old problems that have plagued players for years. Our guide to gambling with bitcoin is going to break it all down in an easy to understand format so players can gain a better understanding of how bitcoin works and which sites are considered reputable and trustworthy.
When bitcoin first gained a surge of popularity, it was widely seen as a method for tech-savvy individual to anonymously pay for goods and services. I’ll be honest, it was intimidating to me at first too. However, it has become much more accessible to people who might not be quite as tech-savvy as the original group of users, and when you combine that increased level of accessibility with the inherent advantages in the crypto-currency, then you get the perfect scenario for regular users who want a safe, secure, anonymous option for making bitcoin deposits and withdrawals for online gambling.
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Types Of Online Gambling Sites That Accept Bitcoin
Bitcoin Casinos – The major software providers are just now starting to integrate the bitcoin cashier into their platforms. These are the sites we prefer to recommend to our visitors since we know they are big names in the industry and have very deep pockets. But most importantly we know these sites can be trusted compared to some fly by night site that opens up shop with the sole intention of stealing your money. Trust me, there are a lot of shady bitcoin casinos on the market. So make sure you play only with sites that have a good reputation.
Bitcoin Sports Betting – Sports betting is a little different since you’re not betting against the house, and you don’t need to worry about rigged games. So the sites we recommend are actually 3 of the biggest and most trusted names in online gambling and feature sports betting, poker and casino action under 1 roof.
Bitcoin Poker Sites – There are not many options when it comes to poker sites that accept bitcoin. However the big sportsbooks found in our guide also feature poker rooms, so there are certainly options available. Plus you get the inherent benefits of playing at a reputable site, much more action at the tables and reliable payouts when you win. There have been many bitcoin poker sites that have folded in recent years, and ultimately ended up shafting players and stealing their funds. You won’t have to worry about these things by playing with one of the sites we recommend.
Bitcoin Bingo Sites – I would say bingo is probably at the bottom of the totem pole in terms of popularity. There just aren’t a lot of options for bingo players who prefer to use bitcoin as their deposit method. However we’ve found a couple trusted sites that we can recommend to our visitors.
Are Bitcoin Deposits and Withdrawals Difficult?
Even if you know absolutely nothing about bitcoin, you can get set up to use it as a method for deposits and withdrawals in just a little longer than it would take to download casino software, sign up for an account and get a credit card or electronic wallet account set up and verified.
It all starts by getting a bitcoin wallet. A bitcoin wallet is essentially a simple file that holds the information needed for the bitcoin that you own, and it’s designed in a way that it works with a wallet program for making transactions. Setting up a wallet takes a few moments, and it’s much like an electronic wallet in the functionality for sending and receiving bitcoin.
All that’s left is getting bitcoin into your wallet. For purchasing bitcoin for your currency or exchanging bitcoin for your currency when cashing out, you’ll want to use one of the reputable bitcoin exchanges that are out there today. The process is very simple, and it’s just like making any other online purchase.
The bottom line is that if you’re worried about it being too complicated, don’t worry. If you know how to make purchases online, use a credit card or use an electronic wallet, then you will have no problem getting started with bitcoin with a minimal amount of a learning curve.
What Are The Advantages of Bitcoin Over Credit Cards?
For a lot of people in a lot of areas in the world, making a deposit at an online casino is as simple as putting in your credit card information like any other purchase. However, it’s not that easy for everyone, and in locations where credit cards don’t always allow online gambling transactions, bitcoin gives players a huge advantage in being able to deposit and request withdrawals without dealing with the hassle of getting your credit card to work for the transaction.
Even if you are from an area where credit cards are accepted right away, it can be a little intimidating to know that there is a paper trail of your online gambling activities out there. This can be used against you in various contexts, and it’s just generally unsettling for those who don’t like other people to know that you like to gamble. For protection against this, you can take advantage of the anonymous nature of bitcoin to protect yourself from prying eyes. Even if you don’t think you have anything to hide, being anonymous can only be an advantage since there is no downside.
Are Bitcoin Deposits Better Than Using Electronic Wallets?
Electronic wallets are the most popular way of making deposits and withdrawals at online gambling sites aside from credit cards. Their two biggest advantages are that they provide a “buffer” between the site itself and your bank account or credit card, and they make it easier to separate your gambling bankroll from the rest of your funds in a separate account while you move funds from site to site. This also makes budgeting for gambling easier.
Bitcoin wallets can allow you to do exactly the same thing with the added advantage of being anonymous. Aside from that, there are also lower fees associated with bitcoin deposits and withdrawals, and that’s a big advantage over the fees that you can get with electronic wallets (or credit cards, for that matter). The learning curve for getting started with bitcoin is similar to that of getting started with an electronic wallet, and once you’re all set up, requesting deposits and withdrawals takes the same amount of time. In the long-run, a lot of people would say that using bitcoin will save you money and give you increased privacy compared to electronic wallets while taking about the same amount of time to use. Bitcoin.org has some fantastic articles that explain the wallets in more detail.
Are There Other Perks of Using Bitcoin to Gamble Online?
Because the overhead costs of a casino, poker room or sportsbook offering bitcoin as a banking method are so low, they’re able to offer wider range of deposit and withdrawal sizes compared to other methods. This means that with all else being equal, you’ll be able to make smaller and larger deposits and withdrawals, which is a big advantage for any type of player.
There’s also less labor overhead for these transactions in terms of verifying your identity and other security measures since those things are built into the bitcoin platform itself. Along these lines, you’ll tend to get faster deposits and withdrawals when you gamble online and use bitcoin as your payment method.
Finally, there is the simple issue of privacy and security. These are very important when it comes to making sure that your personal information and financial details are safe, and because you limit the amount of either that you expose to online gambling sites when you use the bitcoin banking method, it’s easy to understand how it would give players such an increased peace of mind.
Is It Legal To Gamble Online Using Bitcoin?
Yes, it is legal to gamble online using bitcoin This is no different than any other type of gambling and there are no laws in the United States that actually make the act of placing bets illegal from a players perspective. If you were to own a bitcoin casino on US soil, then that would be against the law. But players who want to gamble online can legally do so as long as the site is located offshore and licensed in a jurisdiction that already offers legal online gambling. All of the sites we recommend in our guide meet this criteria.
What Is The UIGEA Law?
The UIGEA stands for the Unlawful Internet Gambling Enforcement Act and was signed into law in 2006. However there is a lot of confusion surrounding what this law actually is and what it aims to accomplish. The UIGEA actually makes it illegal for banks to process any transactions related to online gambling. This pertains more so to credit card deposits and a bank knowingly processing this transaction. This is exactly why bitcoin is a god send for US players. There are no more credit card declines and all deposits are always approved.
The Bottom Line
The bottom line is that there are some major advantages to using bitcoin over other popular banking methods for gambling on the Internet. While the selection of casinos, poker rooms, sportsbooks and other gambling sites that uses bitcoin limited in the relative sense compared to the total number of sites in the industry, the absolute number of them is very impressive, and we have plenty of recommendations of trustworthy, proven gambling sites that accept bitcoin and that you’ll be able to put your faith into for giving you a great experience, solid customer service and reliable withdrawals.