Bitcoin blackjack serves as an alternative to playing online blackjack with traditional payment options. It allows you to enjoy mobile blackjack through the most-popular cryptocurrency.
As famous as Bitcoin (BTC) is, though, you may not have used it to try online blackjack yet. If so, you might wonder if BTC blackjack is worth your time.
I’m going to discuss both the benefits and drawbacks of playing Bitcoin blackjack. I’ll also cover how to play the BTC version if you’re new to it.
How Does Bitcoin Blackjack Work?
For the most part, BTC blackjack works just like the regular version. However, you may find some notable differences when playing it—especially regarding the banking.
Get Bitcoin From an Exchange
You can’t play Bitcoin blackjack without the Bitcoin. That said, you’ll need to visit an exchange and purchase BTC.
Plenty of exchanges allow you to buy this cryptocurrency with fiat (e.g. USD). Coinbase and Kraken are among the most-popular options.
No matter what exchange you choose, the process for buying Bitcoin is relatively the same. You sign up for an exchange account, enter your payment information, and input how much BTC you’d like to purchase. After confirming the transaction, you just need to wait for the crypto to arrive.
Deposit at the Casino
Armed with BTC, you’re ready to make a deposit at the blackjack casino of your choice. You start this process by visiting a casino’s banking section.
Once here, you select the Bitcoin option to generate a wallet address. You then copy the wallet address and head back to the exchange.
At the exchange, you select BTC and choose to send some of your funds. You enter the casino’s wallet address in the recipient area and confirm the transaction.
Wait times vary on when the funds will arrive. Normally, though, you can expect your deposit to go through within a few hours.
Wagers Might Be in BTC
Some Bitcoin casinos see you deposit with BTC and wager in fiat. The same gaming sites typically accept a variety of other payment options, such as credit cards, e-wallets, and bank transfers.
Other BTC casinos require depositing and playing with Bitcoin. In this case, your wagers will be represented by millibitcoin (mBTC).
An mBTC is equal to a one-hundredth of a Bitcoin. Here’s an example on how much your bets will work with mBTC units.
- MBTC is worth $50.
- You bet 0.25 mBTC.
- 50 x 0.25 = 12.5
- Your wager is worth $12.50.
Request a BTC Cashout
Assuming you do well on the cyber blackjack tables or just want to cash out, you’ll be doing so with Bitcoin. If you’re comfortable with making deposits, then you won’t have any trouble with the withdrawals.
You start the cashout process by visiting your original exchange. You copy your BTC wallet address at the exchange and head back to the online casino.
Once at the gaming site, you use the exchange wallet address as the recipient. The final step is to confirm the transaction at the casino and wait for the funds.
Why Is Bitcoin Blackjack So Popular?
BTC blackjack has drawn many fans in recent years. Here are the main reasons why people enjoy playing blackjack with Bitcoin.
Simple Banking Process
If you’ve never used Bitcoin before, then the process might seem intimidating. However, it’s actually quite easy once you get the hang of it.
Exchanges have made buying BTC really easy. If you’ve ever used an e-wallet like PayPal or Skrill, you won’t have much trouble with an exchange like Kraken or Coinbase.
Of course, you can always set up your own Bitcoin wallet as well. This way, you have full control over your cryptocurrency.
No Dealing With Third Parties
The main reason why Satoshi Nakamoto developed Bitcoin was due to a lack of faith in banks and governments. The BTC network is decentralized and not controlled by any single party.
It relies on miners solving computational problems to facilitate transactions. They can’t see or judge what your payments are for.
That said, you don’t have to worry about a bank rejecting your online casino deposit or a credit bureau docking you points for online gambling.
Huge Potential Bitcoin Blackjack Bonuses
Due to the rapid surge in Bitcoin’s price, BTC casinos offer some of the gaming industry’s biggest bonuses. Even a 0.1 Bitcoin bonus is highly valuable.
At the time of this writing, a single Bitcoin is worth over $56,000 (below we have included a live tracker for the current price of Bitcoin so you can see where you stand at the time of reading). This valuation means that 0.1 BTC is worth $5,600.
Current Price of Bitcoin
Normally, a $1,000 online casino bonus is impressive. Having the ability to earn $5,000 or more through a casino bonus is amazing.
Provably Fair Games Are an Option
Bitcoin runs on blockchain, which makes for the possibility of probably fair gaming. The latter refers to how you can check your results to ensure fairness using blockchain technology.
Contrast this to standard online casinos, which don’t provide any chance to verify results. Instead, you need to put your faith in the gaming sites and developers.
Most online casinos and game developers are reputable operators. Even still, it’s nice to guarantee fair results yourself—or at least have the option to do so.
Low Fees
You don’t have to spend much to move Bitcoin to and from online casinos. You simply need to pay a fee to the miner who validates the transaction.
This fee is usually less than 1% of the total money being moved. Contrast this to e-wallets or credit cards, which take around 3% of the total amount.
That said, you won’t burn much of your bankroll when making BTC online casino transactions. Instead, the fees are much less notable.
Any Downsides to BTC Blackjack?
I can’t discuss the good things regarding Bitcoin blackjack without also bringing up potential downsides. Here are some additional points to ponder before diving into BTC gaming.
Learning Curve
As covered earlier, cryptocurrency exchanges aren’t difficult to use. Instead, you can figure out how to buy BTC and send it in a relatively short amount of time.
The thought of learning how to use a new currency, however, might keep you from wanting to play blackjack with BTC.
After all, you do need to figure out the wallet address aspect. You must also learn how to send Bitcoin to and from exchanges.
Weird Betting Denominations
The betting denominations are the biggest adjustment to playing Bitcoin online blackjack. Again, some BTC gaming sites list your betting denominations in terms of millibitcoin.
For Example:
If you’re used to gambling with dollars or euros, you’re going to find it quite strange when a single betting unit is worth $56—or whatever mBTC is worth when you’re reading this.
Of course, casinos allow you to bet in fractions of millibitcoins. You will, however, need to make mental adjustments when wagering in these denominations.
Regulated Online Casinos Don’t Currently Accept Bitcoin
More and more states and countries are regulating online gaming. Regulation is good from the standpoint that it offers more protections for players.
However, one downside to regulated markets is that they don’t take BTC. Instead, they only accept traditional payment options, such as credit cards, bank transfers, and e-wallets.
You may be perfectly fine if you like using credit cards and bank transfers to deposit. But if you enjoy using Bitcoin, you don’t currently have that option in a regulated state.
What’s the Overall Verdict on BTC Blackjack?
Bitcoin blackjack is great for when you live in an unregulated market and don’t have reliable payment options. After all, some payment processors reject deposits made at offshore casinos. You won’t have this problem with BTC, though, because no third party has control over it.
Bitcoin Is Also Great for Avoiding the High Fees Associated With Certain Other Payment Methods
You won’t pay 3% of the overall transaction like with some banking options. Instead, you’ll only be paying around 1% or less in miner fees. You can also look forward to lucrative Bitcoin blackjack bonuses. Many gaming sites feature huge BTC deals thanks to the high value of this cryptocurrency.
Of course, you’ll go through a slight learning curve when using Bitcoin at casinos. You also might need to place wagers in BTC rather than fiat. Provided you get over these small humps, then you should enjoy Bitcoin gaming sites.
Conclusion
BTC blackjack is only getting bigger as more players become comfortable using cryptocurrencies. That said, you should have ample opportunities to play blackjack with Bitcoin.
The thought of learning how to buy BTC and deposit with it might seem intimidating. Once you learn this aspect, though, then you won’t have any trouble with it in the future.
Afterward, you’ll benefit from the low banking fees and big bonuses that BTC casinos have to offer. You might even become interested in provably fair gaming sites.
Bitcoin blackjack is also great because the BTC network is decentralized. Therefore, you can deposit and cash out without dealing with any interference from banks, credit card networks, or e-wallets.
Michael Stevens
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. …
