Cryptocurrency gambling is becoming more and more common across various online casinos these days. Most gaming sites started off only offering bitcoins but as there are new cryptocurrencies popping up all the time, there is increased demand for some of these to be introduced as well. It seems online casinos are only too happy to oblige.

Hence, these days there are sites accepting everything from bitcoins and Ether to FunCoins, Lite coins, and pretty much any other crypto you can think of. No matter what way you look at it, it is clear that cryptocurrencies have taken their hold on the world of online gambling. So, what does the future have in store for them?

Bitcasino is one of the most popular Bitcoin casinos

More Casinos Turning to Cryptos

For the time being, a majority of online casinos still combine things, allowing people to use fiat currencies and cryptocurrencies. Only a select few are focused on cryptos only, but this might change going forward.

Of course, this will be greatly dependent on whether the financial market continues down the current path, with cryptocurrencies becoming stronger all the time. If there are enough people using any of these on a regular basis, casinos will have every reason to offer crypto versions of their games, primarily slots.

People playing in cryptocurrencies are likelier to play higher stakes on average, which works to casinos’ advantage. At the same time, from the players’ point of view, it is easier to deal with cryptos if you already have them readily available.

Bumps Along the Way

Of course, before any of this happens, there are certain issues cryptocurrencies need to address. As of right now, the blockchain technology is relatively slow with processing requests and it doesn’t have the power of more traditional payment processors such as Visa or MasterCard. Although the waiting time of 10 or 20 minutes doesn’t seem long, it is still much longer than with e-wallets and credit cards, which are basically instant.

This is one of the biggest issues cryptos will need to face moving forward if they want to pick up more traction and become truly competitive.

Another problem is implementing system for various cryptocurrencies. Unlike fiat money, where you can use traditional methods to deposit regardless of the currency, cryptos are tied to particular wallets, so you can’t deposit Lite Coin with a bitcoin wallet. Adding solutions for all of these different types is quite a task, especially since it is hard to say which ones will become popular on a large scale.

All this being said, the odds seem stacked in favor of cryptocurrencies moving forward. The online gambling industry has been keen on adopting them and they don’t seem to have any intention of going back. There are issues that need addressing, but these will be resolved along the way and more and more online casinos will offer various cryptos as banking methods.

Lately, we’ve been seeing more and more online casinos introducing bitcoins as one of their banking methods. In fact, there are quite a few sites out there these days that focus only on bitcoins and don’t even offer other traditional methods like credit cards or e-wallets.

Bitcoin gambling has been on the rise due to a number of factors. Some of them have to do with the anonymity of the users and the possibility to keep their gaming habits private. Others are related to the general popularity bitcoin has been experiencing, with more people wanting to get involved with this original cryptocurrency.

However, some believe that popularity of bitcoin might be its downfall as well. A couple of years ago, it seemed to be a perfect alternative to fiat currencies, in the gambling market and numerous other markets. But, with its value skyrocketing, is bitcoin still accessible to us, mere mortals?

Bitcoin & Gambling

The online gambling industry was one of the first to start widely accepting bitcoins as a legitimate alternative to traditional currencies. After the initial period of doubt, players started to realize they could put their faith in this cryptocurrency and not dread what could happen to it overnight. Clearly, it was there to stay.

We could go as far as to say that it was the gambling industry that gave bitcoin the initial and much needed push to get it started on the path to success. Once it was accepted by one of the largest industries in the virtual world, there was no other way for bitcoin to go but up.

As of today, 2017-12-25, 13:19 CET, the price per Bitcoin is $14 303,60

Too Much too Soon?

There is hardly any doubt that those who enjoyed playing in bitcoins also liked, to some extent at least, the volatility of this cryptocurrency. Yes, there was some risk involved, but your gambling bankroll could double in value by the time you had had a good night sleep.

That said, what we’ve been seeing over the past year could be a bit too much too soon. The incredible surge in value has helped create quite a few bitcoin millionaires. In fact, this unexpected jump has made many insiders worried, as they suspect bitcoin is experiencing a bubble that’s bound to burst soon.

For an average player, this could be a bit more than they are willing to deal with. If the bubble theory is true and it happens to burst, it will happen suddenly, without too much warning, and the bitcoin value could experience an unprecedented nosedive.

Time Will Tell

For the time being, many online casinos still offer bitcoins as one of the deposit and withdrawal methods, and quite a few of them let players maintain their accounts in bitcoins. However, should such time come where the bitcoin value is seriously threatened, it could create panic among players and operators alike.

Should this come to pass, it wouldn’t necessarily mean the end of cryptocurrency gambling, as there are many other cryptos players can choose as an alternative. However, the whole idea of bitcoin gambling could be seriously jeopardized.

Top 3 Bitcoin Casinos

Interested in trying out Bitcoin casinos? Here are our top 3 list of the best and most secure Bitcoin casinos.

1. Bitcasino.io

This is a pure Bitcoin casino that only lets you deposit and withdraw through bitcoin. They also offer total anonymous play, which is great. Take a look at our Bitcasino.io review for more information.

2. Loki Casino

At Loki Casino you can play with both fiat money and bitcoin. A great thing about this online casinos is that they offer Provably Fair Games. Check out Loki Casino.

3. BitStarz

BitStarz take the third spot. You can play with both fiat money and bitcoin. Their games are also provably fair and  they offer 20 free spins upon registration so that you can try out their casino for free. Go to BitStarz for more info.

One of the biggest concerns most players have when playing at an online casino is if the games they wager their hard-earned money on are fair. Most of us are perfectly aware that the casino always has an edge in every game, be it slots, blackjack, or roulette. That’s the edge we agree to and the price we pay for the entertainment and the chance to get lucky and win big. But, how do we know that a casino hasn’t done anything to push this edge a bit more in their favour?

Every casino will, naturally, claim their games are fair and completely in line with what’s being advertised, but how can we be certain of it? And, first of all, what is it that makes casino games truly fair and random?

This is where “provably fair casino games” comes in hand. This basically means that a player can verify each Roulette spin, blackjack hand or slot spin to ensure that it was fair. More on this later.

How Do Online Casino Games Work?

If you’ve ever wondered what the foundation of online casino games is, then here’s the answer for you. All electronic games, from slots to computerized table games, are operated by a Random Number Generator. This is an algorithm that runs behind the scenes, ensuring that results of every spin of the reel and every blackjack hand are completely random.

The Random Number Generator (RNG) takes a number of different starting points as the basis for its operation and uses these strings to produce a pseudo-random number, which is then converted into the result displayed to players.

You’ve probably noticed the word pseudo before random. That’s because nothing in this world is truly random – RNGs will take its starting strings from various outside sources, such as time of the day, date, etc., but at the end of the day, someone knowing what these starting points are could potentially tamper with the results.

Ensuring the Randomness with Provably Fair Games

So, it isn’t enough that casino games are run by RNGs. The possibility of tweaking games to increase the house edge still exists. But, beyond believing the casinos, what other resource do players have to protect themselves?

Understanding the need for players to feel safe and also realizing a potential threat of allowing casinos to run the show in any way they see fit, some Bitcoin casinos has made their games provably fair, meaning that you as a player can literally go back and check if your latest spin/hand was indeed fair and not rigged. It’s a bit technical, but there’s a very good explanatory article at Bitstarz.com. Once you’re on their website, just search for “Provability Explained”.

Where Can I Find Such Casinos?

More and more Bitcoin casinos are subjecting themselves to make their games provably fair in order to prove to their users that nothing fishy is going on and that they can fully trust the online casino.

Loki Casino is one such operator, offering hundreds of provably fair games by some of the leading suppliers, such as NetEnt, Microgaming, Betsoft, Endorphina, Nyx Gaming, Pragmatic, and Amatic. The casino is licensed by the Government of Curacao and also offers a very nice welcome bonus with plenty of free spins.

Another provably fair casino that we can recommend is BitStarz. Their RNG has been independently tested and verified, so players can rest assured any games they play will be in line with the officially advertised player returns. BitStarz Casino offers games by NetEnt, Betsoft, Ezugi, Amatic, and SoftSwiss.

Bitcoin casinos are becoming more and more popular as the interest for this digital currency continues to increase among ordinary people. With Bitcoins becoming mainstream, people are slowly getting rid of their fears, starting to understand there are certain advantages to using Bitcoins over fiat currency, especially when it comes to online gambling.

Bitcoins offer several advantages over using traditional money. First and foremost, certain online casinos will let you gamble anonymously, without having to reveal any of the personal information. Further, Bitcoin deposits and withdrawals are very fast and reliable thanks to the underlying blockchain technology.

To use Bitcoins for gambling or any other purposes, all you need is a Bitcoin wallet, which is very easy to obtain, and some Bitcoins. These can be purchased at any of the number of Bitcoin exchanges or you can have someone send some.

If you’re considering gambling at a Bitcoin casino there are certain things you should know to avoid any surprises. There are three different types of Bitcoin casinos and your choice will depend on your particular needs.

Full Bitcoin Casinos

If you want to deposit in Bitcoins and actually keep your cryptocurrency, then you’ll need to find a full Bitcoin casino. These online casinos only use Bitcoin, which means there’ll be no conversions and all wagers are made using the digital currency. Of course, this also means that you’ll be susceptible to any value fluctuations, so the actual value of your casino bankroll can go up or down with the market.

Completely anonymous gambling is only possible at these full Bitcoin casinos, where you’ll only need to enter a minimum amount of information, such as your email, username, password, and, sometimes, your date of birth.

Bitcasino.io is one such place, where all games are done completely in Bitcoins and you don’t need to send in any sensitive information. The casino features a nice selection of games by NetEnt, Betsoft, and Quickspin, as well as a range of table games and Live Dealer tables.

Regular Casinos Accepting Bitcoins

Some of the regular online casinos have started to introduce Bitcoins as one of their accepted payment methods. With these casinos, you’ll be able to use your crypto currency wallet to deposit, but the funds will be automatically converted to the fiat currency in your cashier. In this case, Bitcoins are just another banking method, but you’ll still need to provide the full information and send in the required documents to verify your account. Some good and reputable online casinos accepting bitcoins are Slotsmagic and PlayOJO

Hybrid Bitcoin Casinos

The third type of online casinos accepting Bitcoins are hybrid Bitcoin casinos. Here, players have a choice of keeping their funds as Bitcoins or converting them to a fiat currency. Usually, there are two different sets of games, one for regular gaming and the other for Bitcoin gambling.

In most cases, the Bitcoin section has fewer games, but the best of the best do offer two almost identical sets of games, catering to both player groups. A good thing about these hybrid casinos is that you can take your pick, so if you aren’t feeling comfortable about Bitcoins at a particular moment, you can easily deposit and play with traditional money. When the digital currency seems stable and thriving, the other option is on the table as well. The most recommended hybrid bitcoin casino is Loki Casino.

Lately, we’ve been witnessing a sharp rise in bitcoin gambling. Online casinos left and right are introducing bitcoins as one of the payment alternatives, looking to cater to the growing base of bitcoin users. Once only an obscure concept, bitcoin has certainly become a mainstream thing and a legitimate payment method, so it is only natural that the online gambling industry is looking to be a part of the boom.

However, opinions on what future holds for bitcoin and online gambling seem divided. Some believe it will take over and completely take over the industry, while others are convinced that the bitcoin craze will go away as fast as it had appeared. The question is, who’s got it right?

Upsides of Bitcoin Gambling

There are certainly quite a few upsides to playing slots and various casino games using bitcoins. The first one that comes to mind is the increased anonymity provided by bitcoin transactions. Quite a few online casinos allow players to join, deposit, and play without revealing any of their personal information. In the world where there is a growing fear of excessive government control, this is an important consideration.

Casinos employing blockchain technology beyond just processing payments will be able to offer provably fair games, thus addressing players’ biggest fears. Instead of having to put their trust with eCogra or whatever other third-party, they’re able to see the results of every spin and every card dealt.

Potential Pitfalls

However, there is the other side of bitcoin gambling that isn’t as favorable to the players. One of the big issues are excessive fees often connected to transactions. Players were never to keen on paying any fees when gambling, and with bitcoins, these can sometimes be quite substantial.

The processing speed might be an issue as well. While bitcoin transactions are processed fairly quickly, it usually takes a few minutes for the money to become available. Compared to traditional methods like e-wallets and credit cards, this isn’t too impressive. When you deposit with Visa or Skrill, money is available instantaneously.

The bitcoin volatility could be another thing to deter casinos from moving to the next level of cryptocurrency gambling. We’ve seen bitcoin going up and down like crazy over the past few months and this is probably a kind of risk not too many operators are willing to take. To be able to operate a large-scale bitcoin operation, they need a substantial amount of crypto available to them, and if there is a risk of a sharp drop in value without a proper warning, serious companies might choose to stay away.

Will 2018 Be the Year of Bitcoin?

When all these reasons are weighed, it is still impossible to say with certainty. It is safe to assume, though, that bitcoin will need to achieve some degree of stability before it is widely accepted by big online gambling operations. Without that, the risk is simply too big and that single negative could easily outweigh all the positives.

Interested in trying out Bitcoin Casinos? Check out our list of the most trusted and most popular Bitcoin Casinos: https://www.crispygamer.com/bitcoin-casino/