Best Bitcoin Casinos in 2022 – The Biggest Bitcoin Casino Guide
The Best Bitcoin Casinos are enjoying an unprecedented wave of popularity, given Bitcoin’s current bullish run that defies all odds. Frankly, no one on earth would have predicted the rise that the cryptocurrency has seen in the past year.
With more mainstream acceptance and Elon Musk diving in, it’s all the way to the mars for Bitcoin. It’s no wonder that Bitcoin casinos are topping it off with some amazing bonuses and lucrative deals. If you have never gambled online in Bitcoin casinos, now’s the time. People are making a killing out there folks. That’s people who have never gambled with crypto before.
Wait. Did we jump the gun a tad? I think we did. As unbelievable as it sounds, a large part of the population does not know how Bitcoin casinos work. We figured that this was a great time to shine some light on it and add our two cents as well.
So here goes. If you are new to Bitcoin casinos, then strap in and enjoy the ride (read).
What are Bitcoin casinos?
Bitcoin casinos are just like regular online casinos, with one key difference. They accept Bitcoin and other leading cryptocurrencies as payment, in addition to normal Fiat currency like USD, Pounds, Euro or any other government-issued currency.
A lot of people think that Bitcoin casinos are a reasonably new idea, especially as compared to normal online casinos. But the fact is that it’s been more than a decade since Bitcoin was created. The first few Bitcoin currencies started as early as 2011.
But we all know how cryptocurrency was looked upon back then. The usage was limited to a few tech junkies and computer nerds. The occasional dark web user had a few Bitcoins that they mined at home and used to buy drugs.
Cut to today, Bitcoin has gone mainstream, and so have Bitcoin casinos. It’s no longer an unknown technology that’s spoken about in whispers. It’s here and it’s going to stay.
When it comes to gambling, it offers a lot more advantages as compared to conventional Fiat.
How do Bitcoin casinos work?
A bitcoin casino is no different from a regular casino. If you have ever gambled in an online casino, you’d be familiar with how the games work. It’s a software-controlled system where you can play slots, table games like blackjack and baccarat, video poker and specialty games like Keno, Bingo and roulette.
The best bitcoin casinos have their proprietary, customized version of the gaming software, which is what separates them from the rest. Smaller bitcoin casinos may have a more generic version of the software available on a subscription model.
No matter what game you play, the software controls and runs the entire game. There’s absolutely no human intervention, which means that there’s no chance of the game being rigged.
- You can play against the software, in which, the game is completely automated.
- If there are more human players involved, the software assumes the role of the dealer and conducts the game.
As is the case with any digital operation, Bitcoin casinos are often looked down upon by skeptics, who fear manipulation in the software.
To this end, most of the best Bitcoin casinos offer a complete review of the software algorithm, which should suffice to convince most users. Also, there has been a progressive improvement in security protocols, stability and flexibility, which makes these casinos a much safer bet than they were in the early days.
What are the top Bitcoin gambling sites?
All said and done, which are the top Bitcoin gambling sites that you can safely gamble with? Well, given the popularity of cryptocurrency, there has been a sudden surge in the number of casinos that have set up shop.
Not all of them are cut from the same cloth though. If you are looking to place your first bet in a Bitcoin casino, then here are the top 10 casinos in 2022.
- Roobet – Top rated Bitcoin casino that offers a very user-friendly interface. Accepts both BTC and ETH and offers a variety of games like Blackjack, Baccarat, Roulette, Mines and Dice.
- Stake – One of the biggest gambling sites on the internet that lets you bet on anything under the sun. (Not literally). From sporting events to proprietary games, you have options galore. Stake enjoys a great reputation among the gambling community.
- Bitcasino.io – One of the oldest Bitcoin casinos on the block, Bitcasino.io was set up in 2014. It accepts a wider range of cryptos than some of the other casinos, and it has consistently been awarded certificates of trust by accredited organizations.
- 7BitCasino – 7BitCasino is one of the most reputed Bitcoin casinos in the world. It offers more than 4000 games, including free spins that let you win free crypto and daily cashbacks. Also lets you withdraw funds in cryptocurrency.
- Gam Dom – This is a reasonably new casino with a very fast-growing user base. Offers a variety of games and is quite transparent with the algorithm reveal. Also offers a neat $50 USD signup bonus.
- Cloudbet – Cloudbet is hands down, the oldest Bitcoin casino in this list that was set up in 2013. It allows you to play with complete anonymity with Bitcoin and other cryptocurrencies. Probably one of the only casinos that offers no-limit betting. Also offers a 100% deposit cashback up to 5 BTC.
Pros and cons of Bitcoin casinos
Despite all the obvious perks of gambling with cryptocurrencies, it’s still a relatively unknown domain for a lot of online gamblers, who continue to place bets in more conventional gambling setups.
But what if you want to wet your toes in Bitcoin casinos? What are the pros and cons?
Let’s find out.
The advantages of betting in Bitcoin casinos
- Anonymity – The entire Blockchain technology is built on the premise of anonymous, untraceable transactions. Therein lies the biggest appeal of Bitcoin casinos. Any cryptocurrency that you deposit into a Bitcoin casino, and any subsequent winnings that you make are completely off-the-grid, and anonymous. They are not taxable, like conventional Fiat winnings are. This means that even if you were to win a sizeable jackpot, of say, $1 Million dollars, which is a very real possibility given Bitcoin’s current value, you will not have the IRS breathing down your neck, ever. You can securely transfer the winnings into your Bitcoin wallet and encash it anywhere in the world.
- Provably fair: One of the fundamental principles of Blockchain is that it’s designed for fair play. Any user in a Bitcoin casino can verify whether the game was rigged, or manipulated, or whether it was accurately decided on the basis of a random number. All that it takes is the Bet ID number and some other easily-accessible information. You can track all details of every specific bet placed on the site.
- Transparency: The verification of the Blockchain ensures that every game, no matter how small or how large the bet, is completely fair. The Bitcoin casino never tampers with the results, or regulates the bet. The algorithm is open source and the casino probably has more to gain by being fair, than trying to rig the game. We will explain this in the FAQ.
- Zero transaction fees: One of the biggest advantages of Bitcoin casinos is that most casinos have zero transaction fees, and no limits to the number of daily transactions. Most conventional casinos have limits on both.
- Minimal User details: Adding to the anonymity that we mentioned earlier, most Bitcoin casinos do not require extensive user details. Most often, it’s just an email and a login name, which allows you to stay anonymous, just the way a lot of gamblers prefer to be.
- Fewer legal hassles: Depending on the country that you reside in, gambling may or may not be legal. If it’s illegal, and are still looking to gamble online, you will probably have to find a way by which you can deposit funds into your casino, without using your bank. It’s not impossible, but definitely not easy either. Subsequently, any winnings you make will also have to be transferred through other means. In some countries, this is flagged as err…money laundering. With a Bitcoin casino, you have none of these hassles. Everything is completely anonymous. Secondly, a lot of countries do not consider cryptocurrency to be real money yet. So your winnings may not even be taxable in the first place.
Let’s take a look at a few potential disadvantages now.
- The value: Bitcoin is on a bull-run currently. But given the volatility of the cryptocurrency market, a correction can be on the way. This might be as severe as 30%. But we have seen much more dramatic crashes in the past. There’s always a risk that the monetary value of your winnings might deplete pretty soon. A possible way to avoid this is to swap your cryptocurrency winnings for real Fiat money every now and then.
- The risk of the internet: No matter how secure a bitcoin casino is, it’s still on the ether. Anything that’s on the internet is subject to the obvious risks that we all are aware of. It can be hacked into, your crypto can be stolen and you will have to jump through hoops to try and get a refund.
The Complete Bitcoin Casino FAQ
In case you still have niggling doubts in your mind about how Bitcoin casinos work, then here’s a brief FAQ that answers some common questions that first timers usually have.
Are bitcoin casinos legal?
Let’s start with the biggest question that probably every gambler wants to know more about. How legal are Bitcoin casinos? Well, it depends. In most countries, it’s neither restricted, nor allowed. So it’s floating around in a perpetual gray area with no clear consensus. The biggest legal advantage, if one can call it that, is that no government around the world defines Bitcoin as ‘real’ money. So any regulations that apply to real money should ideally not be applicable to Bitcoin casinos. But in countries like the United States, Iran, Netherlands and Australia where online gambling is prohibited, authorities may persecute Bitcoin casinos, as well as people who bet with cryptocurrencies.
What laws are Bitcoin casinos governed by?
Most bitcoin casinos operate in off-shore countries and are typically regulated by the laws of those countries. For instance, Stake is licensed and governed by the e-gaming laws of Curacao, so is Roobet. 7Bitcasino on the other hand is licensed in Curacao, but is based in Cyprus. To know more about the governing laws for the top bitcoin casinos, we recommend that you read the detailed reviews.
What is bitcoin casino no deposit bonuses?
No Deposit bonuses are a great way to get started with Bitcoin gambling. It’s essentially free money that the casino gives you through free spins or some other feature, like a sign-up bonus. You do not need to make any deposit into the casino wallet to be able to win the bonus. The caveat is that they typically have some minimum wagering requirement before you can withdraw the bonus. For instance, 7BitCasino offers 20 Free Spins with a minimum wagering requirement of 45x. Let’s say you win 0.001 BTC (hypothetically) in a Free spin. You will have to wager the 0.001 BTC at least 45 times to be able to withdraw the bonus. Once you meet the wagering requirement, you can also withdraw any subsequent funds that you win from that bonus. For instance, if you were able to multiply that 0.001 BTC into 0.20 BTC by wagering it 45x in different games, you can withdraw the entire 0.20 BTC into your wallet. In a nutshell, you just won 0.20 BTC without investing a dime in real currency.
How to stay safe while Bitcoin gambling?
All this incessant talk about rules, regulations and legalities can make one wary of gambling in Bitcoin casinos. The fact though, is that Bitcoin casinos are generally quite safe. There are some rules of thumb that you can use to ensure that you and your cryptocurrency is protected.
Always play in a licensed Bitcoin casino
There have been horror stories in the past of Bitcoin casinos going defunct overnight, which is a fancy way to say that they disappear with user deposits and cryptocurrencies. So, always play in trusted Bitcoin casinos that have an active gaming license. Read reviews. Check their reputation. If they have been online for 3-4 years, chances are that they are safe to deal with.
Ensure that it’s Provably fair
Provably fair is a tech solution that’s been integrated into Bitcoin casinos to ensure fair play. We will describe it in detail below.
Refrain from sharing sensitive information
The golden rule of anonymity on the internet applies to Bitcoin casinos as well. Never share sensitive information with anyone on the internet. Most casinos now have interactivity features such as chat rooms, which can be a hotbed for scammers. If someone offers you a kickback, or a deal that sounds too good to be true, skedaddle.
Don’t use public computers
Enough said. You don’t want a keylogger malware to record the password to your casino account and paste it all over the internet, do you?
Be smart about your bankroll
Do not store all your cryptocurrency in any one casino wallet. Always diversify it and ensure that you have the backup keys to the wallet where you have stored the cryptocurrency.
The allure of online gambling often leads newbies into betting more than what they can afford to lose. Start slow and learn the ropes. Always keep a check on your bets, and stay within affordable limits.
You can further increase your anonymity with VPN software. But some casinos prohibit the use of VPN. So ensure that you read the terms before you use them.
How to deposit and withdraw Bitcoins?
There are plenty of resources that describe how to purchase your first Bitcoin in great detail. But when it comes to depositing and withdrawing Bitcoins from a Bitcoin casino, there are three simple steps to it.
- You open a hosted Bitcoin wallet with any reputed Bitcoin trading platform, such as Coinbase for instance. The process to sign up and start an account is very similar to starting a PayPal account. You use your credit card or your bank account to buy your first cryptocurrency, which will then be added to your Coinbase cryptocurrency wallet. You can then transfer this cryptocurrency to your casino cryptocurrency wallet using the wallet address. This is a series of 26-35 alphanumeric characters and the most important part of transferring cryptocurrencies to and fro. As long as you copy-paste this accurately, you should be able to receive your crypto without any problems.
- Congratulations. You are ready to start gambling with crypto.
- Once you win some cryptocurrency, it will automatically be added to your casino wallet, which can then be transferred back to the Coinbase wallet mentioned in Step 1. This wallet can be used to convert the Bitcoin into Fiat money and subsequently be transferred back into your bank account.
Alternatively, if you already have a bunch of cryptocurrency in a cold wallet, then you can just plug that to your computer, transfer it to any software wallet and then follow the same procedure above to start gambling.
What is provably fairness in Bitcoin casinos and why is it so important?
Provably Fairness is a technological solution that’s set in place to ensure fair play in Bitcoin casinos. It may sound a little technical. The result of every bet in an online casino has to be decided on the basis of random numbers. This is made possible by a Random number generator (RNG), which generates two separate seeds of numbers, which are then combined to come up with the winning number. The exact way in which the seeds are combined varies from one casino to the other. You can check the casino algorithm to know more about this.
Before you place the bet, the software will encrypt the two seeds and send you a cryptographically hashed version of your seed. This hash is virtually unbreakable. Once you receive this hashed version, you go ahead with the bet. When the results are declared, you will receive a non-encrypted copy of the seeds. You can verify the randomness of the results with the bitcoin hash that you receive.
Most online gamblers do not know that provably fairness also exists in regular online casinos that use real money. However the process to acquire the RNG details and verify it is painstakingly cumbersome. Most customers will find themselves chasing shady gaming commission reps and unscrupulous third party regulators.
With Bitcoin casinos, the entire process is fast, easy and transparent.
How to get started at a Bitcoin casino?
We have already mentioned the steps to buy your first cryptocurrency and to transfer it to your casino wallet.
Once you have money in the casino wallet, here are a few steps for first timers.
- Take time to browse through the games. If you have gambled before, then you might be aware of the rules already. But many Bitcoin casinos add a unique twist to some games that make it more lucrative. At times, more challenging. For instance, there are single-player games as well as Multiplayer ones. Most games require you to wager before it starts. But there are a few games that let you practice, like slots. Take your time to read the rules. Can you cash out in the middle of a game or do you have to wait till the entire game ends? It’s more enjoyable when you know what you are betting against.
- Start with games that you are familiar with. If you have played Baccarat before, go for it, rather than experimenting with games that you have never played.
- Check out the promotions and bonuses. There are ways to level up, earn cashback and earn crypto as well. A lot of casinos allow high-stakes gamblers to join a VIP club, which is where the big boys typically bet.
- If you are unsure about anything, reach out to customer support. Most reputed Bitcoin casinos offer Live Chat support. This is also a great way to get to know how responsive the customer support team is.
How to choose the best bitcoin casino?
All said and done, how do you narrow down on the best Bitcoin casino out there, especially when most of them look identical and offer the same bunch of games and features?
Here’s a short primer on Bitcoin casino selection.
Reputation – Read reviews! We cannot even emphasize on how important reputation is in the online casino business. We have listed out detailed reviews for all the top casinos. How long have they been operational for? Are they provably fair? Are there horror stories of withdrawals getting stuck? That’s a huge red flag. While reading reviews, don’t get swayed by negative reviews left by disgruntled gamblers who lose money. As long as it’s provably fair, you are good to go.
Bonuses – When there are six to eight places vying for your attention, you can afford to be choosy about who earns your dollar. Look at the bonuses on offer and also the minimum wager requirements. Some casinos offer staggering bonuses to attract new customers, which are flashed in bold letters. But the minimum wager requirements can be equally high. A casino which offers a $20 bonus and has a 20x minimum wager requirement is certainly better than one that offers $100 but requires a 110x wager. Some casinos also enforce a minimum wager requirement on the deposit. Just be aware of the rules before you transfer.
Customer service – It’s a good practice to test the customer service before you make your first Bitcoin deposit. Do they have a Live Chat service? How professional do they sound? Do they reply fast?
In the end, go by how you feel. If a casino is reputed, has been around for a while, has a great selection of games and has a responsive customer support team, go ahead and make your first bet.
Enjoy Bitcoin gambling!