9 Reasons Why Bitcoin Is the Future of Online Casinos

More online casinos use Bitcoin than ever before. Hundreds, if not thousands, of gaming sites accept this cryptocurrency as a deposit method.

However, many other internet casinos continue rejecting the notion of using this decentralized digital currency. They still haven’t adopted Bitcoin (BTC) due to its controversial reputation and/or other reasons.

Nevertheless, I strongly believe that Bitcoin online casinos will become the future of real money online gaming. If they don’t become the future, then they’ll at least be a much bigger part of the gaming world. The following page covers 9 reasons why BTC will soon be available at even more casinos.

1 – Bitcoin Is Decentralized

Satoshi Nakamoto invented Bitcoin over a decade ago as an alternative to fiat currencies (e.g. USD, GBP, etc). When developing his famed project, Nakamoto ensured that BTC was decentralized.

The latter term refers to how Bitcoin isn’t subject to third-party control. A bank can’t reject your BTC online casino deposits because they don’t have any command over it.

Offshore online casinos initially started accepted this cryptocurrency in the mid-2010s. They needed a way to get around restrictive banking laws (e.g. UIGEA) to connect with players.

That said, Bitcoin’s internet gaming origins aren’t exactly pure. However, BTC does serve a legitimate purpose in the gambling world. If an offshore casino isn’t already accepting this digital currency, they’ll undoubtedly be doing so in the near future.

2 – BTC Features Low Fees

As described above, BTC remains attractive to offshore gaming sites due to its decentralization aspect. But what would make it stand out to regulated online casinos?

A regulated internet casino is one that gains licensing before operating in a market. Gaming sites that obtain licensing from the New Jersey Division of Gaming Enforcement (DGE), for example, are regulated.

These casinos enjoy blue-chip banking options, such as Visa, Mastercard, Neteller, PayPal, Skrill, and bank transfers. They don’t need to accept cryptocurrencies as payment.

Of course, offshore casinos accept some of these same deposit methods. However, banks that issue Mastercard and Visa-branded cards often reject deposits made at unregulated gaming sites.

Back to the original point, regulated online casinos don’t need BTC for its decentralization aspect. They can still benefit, though, when considering Bitcoin’s extremely low fees.

In many cases, you can place a BTC deposit while paying less than 1% of the total transaction. Contrast this to the 3% that major credit card networks take.

You’re not usually the one paying the 3% deposit fee either—the casinos do it as a service. Regulated gaming sites can appreciate this aspect because it would save them serious money.

3 – Deposits & Withdrawals Happen Quickly

Nobody wants to wait on their casino deposits and cash outs. Unfortunately, some banking methods, like wire transfers, take forever to complete transactions.

You don’t usually need to worry about this with Bitcoin. Any BTC deposit or cashout that you make normally completes within less than 60 minutes.

Of course, Bitcoin deposits aren’t quite as fast as instant credit card payments. But the benefit is that you don’t ever need to worry about a Bitcoin miner rejecting your transaction.

The only time that crypto moves slowly is when there’s serious network congestion. BTC became notorious for slow transactions during a bull run in late 2017.

Other than these rare times, though, you don’t need to worry about Bitcoin deposits/withdrawals taking too long.

4 – BTC Is Easy to Use

Some gamblers avoid Bitcoin casinos because they’re intimidated by using a new banking option. They’d rather stick with the comforts of a credit card—even if it means facing a potential rejected transaction.

However, BTC isn’t difficult to use. You just need to get over the initial hurdle of figuring out how to purchase and send it.

Here are the simple steps behind making Bitcoin casino deposits:

1. You must find an exchange that lets you buy Bitcoin with fiat. Coinbase and Gemini are two popular options that serve as fiat onramps.
2. You need to link up a payment option to your account. For example, you might input your bank information and send e-checks to the respective exchange.
3. Next, you want to visit the respective online casino’s banking section and obtain a wallet address. This address will act as the recipient.
4. From here, head back to the exchange and choose the send option. You enter how much you’d like to send to the casino and input the recipient (casino) address.
5. Check and double check the address that you’re sending the funds to. After confirming the transaction, you should receive the funds withing 10-60 minutes.

This process becomes extremely easy after one or two runs. You’ll fund that using Bitcoin is similar to depositing with e-wallets. If you need any more help with BTC casino deposits, then you can check this guide out.

5 – More Online Casinos Are Accepting It

Bitcoin online casinos are becoming much more common than they were five years ago. In fact, most offshore gaming sites now take the world’s leading cryptocurrency.

Offshore casinos run into the problem of restrictive laws and a lack of banking options to offer their customers. They can accept major credit cards and e-wallets, but they can’t always guarantee that transactions will go through.

That said, the unregulated gaming industry will eventually be filled with BTC casinos. The latter are wise to adopt a currency that’s not controlled by any bank or government.

Of course, no regulated gaming site has crossed the Bitcoin bridge yet. They don’t feel the need to accept BTC right now.

Furthermore, these online casinos would likely need approval from their respective jurisdiction before moving forward with crypto. They may not receive this approval in the immediate future due to Bitcoin’s sketchy reputation.

Again, though, BTC does offer lower fees than most payment options. Some regulated casinos will likely push for it when they get tired of covering high credit card processing fees.

6 – Bitcoin Is More Anonymous than Other Options

Not everybody appreciates gaming deposits showing up on their credit card or bank statement. Maybe they want to enjoy online casino games without being judged by a significant other.

If you fall into this category, then you’ll appreciate how anonymous BTC is compared to other payment options. The Bitcoin network only identifies you by your wallet address (this applies if you set up a wallet or just use an exchange account).

Going further, any transaction you make shows up as a long string of numbers and letters on the network. Contrast this to bank and credit card statements, which lay all of your details out there.

Bitcoin isn’t 100% anonymous. The FBI has determined individuals behind BTC addresses with a concentrated effort. Without FBI assistance, though, your significant other isn’t cracking the code and figuring out your wallet address.

7 – You Can Earn Special Bonuses

As previously explained, online casinos don’t cover as large of fees with Bitcoin deposits. Therefore, they often encourage you to use this payment option through special bonuses.

For example, an online casino might offer a 100% match bonus worth up to 0.1 BTC. At the time of this writing, 0.1 BTC is worth over $1,300.

You can find casino sites that provide bonuses even larger than this. However, such examples are rare in the gaming world.

Beyond these massive deposit bonuses, you can find other unique deals involving Bitcoin. That said, you should consider crypto for the lucrative bonuses alone.

8 – BTC Doubles as an Investment Tool

You obviously enjoy gambling if you play online casino games. Perhaps you’ll like the double gamble of treating BTC as an investment tool.

Ever since Nakamoto launched Bitcoin in 2009, it has gone from being worth $0.01 to nearly over $15,000 at the time of this post.

Unfortunately, you can’t build a time machine and go back to the days when Bitcoin was a penny. But you can still speculate on it now.

I can’t validate predictions that Bitcoin will reach $1 million at any point in the next decade. However, I wouldn’t be surprised if it reaches $100,000 by 2030 or before.

The Current Value of Bitcoin

9 – Volatility Is Lowering

The downside to Bitcoin’s investment potential has always been its volatility. If you invested in Bitcoin during its first 5-7 years of existence, you may have felt like you were playing a slot machine.


Even when merely gambling with BTC, you had to worry about how much your bankroll would be worth the next day.

The good news, though, is that Bitcoin fluctuations aren’t quite as crazy these days. You’ll still see the occasional 10-15% increase or decrease in a day.

But you’re unlikely to see any 40-50% daily fluctuations very often. If these drastic changes do happen, they’ll be extremely rare.

Institutional buyers and more holders have helped even everything out. That said, you needn’t worry about your gambling bankroll dropping too much from day to day.

Conclusion

Bitcoin is undeniably a large part of the online gambling scene today. Many offshore gaming sites now accept this leading cryptocurrency.

However, I firmly believe that it will become even more mainstream in the gaming world. Regulated internet casinos might even start accepting BTC at some point.

Of course, more time is needed before this becomes a reality. But I certainly won’t be surprised if most/all casino sites throughout the world take Bitcoin in 5-10 years.