Bitcoin gambling is nothing but playing the same casino games online but with bitcoins instead of fiat currency. If you win, you will get bitcoins as a payout. In this article, let us discuss the beneficial factors of gambling with bitcoin.
Benefits of Involving Gambling with Bitcoin
Protection with privacy
If you are using bitcoin to transact with the online casino, even the management could not trace your crypto account and its details. So, no one could use the bitcoins without your permission. You would have stored the bitcoins using some wallets and you alone could use this wallet to send and receive bitcoins. So, your privacy would be greater in a bitcoin or crypto casino. As the receiver himself could not identify the transaction details properly, there are no chances for the hackers to try to loot your cryptocurrency. So, going with a crypto casino would be the best option if you are aware of the online frauds happening frequently. Only an ordinary casino that requires liquid cash in the digital form would let its customers face the troubles of stealing data and money. It will not happen in the best casinos accepting cryptocurrencies.
If you have won a Jackpot in an ordinary online casino and you wish to withdraw the amount, you could not enjoy this money as a whole. Instead, you will get a reduced amount after the deductions from the casino’s end and your bank’s end. For each deposit and withdrawal, your bank will ask you to pay a certain amount. It is unnecessary to pay the bank for spending and receiving your money. However, all ordinary casinos have this practice and you may have trouble due to this. You need not worry anymore about this unwanted deduction from your winnings if you start playing in a cryptocurrency casino. As the crypto world is operated as a separate opensource entity, there is no regulatory body to govern the transactions like the central bank. So, you would only send or receive the money as necessary. There is no transaction fee in between the process of money transfer. So, if you have won $100, you can withdraw the most of it after paying the casino’s fee that is mandatory. Comparing to an ordinary casino, it is better.
Another benefit of using a bitcoin casino is the ability to get your winnings credited to your bitcoin wallet as soon as possible instead of holding the process for three or more days. The delay in the transaction is a common issue in all the ordinary casinos that has led to a misconception that this delay is not even an issue. People think that the banking entities must take three days to process the transaction. However, it is due to the various issues arising due to the intermediary system of having a bank for the transaction between you and the casino. In a crypto casino, you need not depend on the bank or any other related entity to approve the transaction. They will not even know that such a transaction has happened between you and the casino. If you can tolerate the time taken by the casino to approve the withdrawal request you place, you can see the bitcoins getting credited in your crypto wallet as soon as possible.
Some casinos would accept both cash payments and bitcoin payments. If you go with bitcoins to play on the casino, you will get a range of bonuses and rewards that others will not get. Since bitcoin is more valuable than fiat currency, casinos will appreciate people who bring them to play instead of fiat. Also, some casinos will accept bitcoins alone for payment. These casinos will also provide attractive bonuses more than an ordinary casino as it requires to get new customers who are ready to play with the cryptocurrency.
Let us assume that you pay $10 for a game in an ordinary online casino and win $100. Now, your winning to cost ratio is 10:1. However, the return is less valuable as it is just $100. However, even if you win 1 bitcoin in a bitcoin casino, its value will be huge.