Welcome Bitcoin Bettors
If you like gambling, you gotta love Bitcoin! Apart from its exhilarating price movements, the extra security and anonymity it brings to the table are something every gambler should embrace. Bitbettors arms you with all the resources you need to start enjoying your Bitcoin gambling games in a state of the art environment.
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We at Bitbettors not only understand the complexities of trying ascertain what cryptocurrency gambling is and how the underlying technology could be advantageous to the player, but also the difficulties of choosing the best Bitcoin gambling sites. That is why we have taken a completely impartial approach, to ensure you have a full understanding of how everything works.
By engaging with the Bitbettors platform, you will be provided with a wealth of knowledge, including Bitcoin casino reviews, comprehensive guides on the many benefits that blockchain technology brings to the industry and up-to-date news on everything Bitcoin casino related. Ultimately, if you are looking for a non-biased and highly critical arena in your search for the best Bitcoin gambling sites, look no further than Bitbettors.
When Bitcoin burst on to the scene in 2009, nobody could predict how much of a revolution it would cause. The technology allows people to transact on a peer-to-peer basis without needing the services of a third party intermediary. Instead, transactions are verified and confirmed in a decentralized eco-system that functions on the art of cryptography – hence the name cryptocurrency.
As a result, Bitcoin is not controlled by any single authority, nor is it backed by any central bank or nation state. On the contrary, access, auditing and validation responsibilities are distributed to the online community, subsequently creating an equal playing field to all.
Moreover, as Bitcoin’s underlying technology utilizes the blockchain protocol, each and every transaction that has ever occurred in the system is publically viewable for all to see. These transactions cannot be altered, amended or changed by any single person or group, making the entire network immutable from both internal and external malpractice.
Security features also extend to the users’ private wallet, which acts much in the same way as a personal bank account. The key difference is that unlike a bank account, a Bitcoin wallet affords the user complete control over their funds. As a result, nobody has access to a wallet, other than the holder of the private keys – which is like an online banking password. This makes it significantly more secure than a bank account, as the funds are not held on a centralized server.
Ultimately, although Satoshi Nakamoto’s blockchain innovation changed how society views money, it has also created a sea-change in multiple industry sectors too. The online casino industry is not immune from this ideological transition, with the benefits of depositing, staking and withdrawing funds using Bitcoin far outweighing its fiat-currency counterpart.
The first ever Bitcoin gambling site was SatoshiDice, which allowed players to bet on the outcome of a cryptographically generate dice. This meant that no matter what the outcome, the result could be independently verified for its fairness, something that main-stream casinos could not provide. The game was very simple, insofar that users would simply need to guess what number the dice would fall on, and by depositing Bitcoin directly in to the SatoshiDice wallet, transactions were both fast and transparent.
While numerous casino operators offer games from well-established gaming providers, a handful of startups are even building their own game engines. This huge leap makes it possible for casinos to offer a 100% decentralized gaming environment. Besides transactions, also the random number generator, gameplay, and internal transactions will all be on a blockchain. Although it is still early days for completely decentralized gambling, the future looks bright fur pioneering casinos.
Bitcoin gambling sites have come a long way since the days of SatoshiDice, with dozens of new operators now offering a complete suite of games. As one would expect, the likes of roulette, blackjack and baccarat are available across most platforms, however certain operators now offer a full range of slots, as well as live dealers and sports betting. As a result, it is now difficult to ascertain which crypto-casino to choose. That’s where Bitbettors comes in, as we analyse, evaluate and then subsequently review the best Bitcoin casinos, allowing you to make an informed decision based on your individual needs.
It is important to understand the specific advantages of using a Bitcoin gambling website, as opposed to a traditional fiat casino. First and foremost, gameplay transactions are completely trustless, as a Provably Fair protocol that is most commonly installed by crypto-casinos ensures that the games you play are fair. Essentially, every spin of the roulette wheel or dealt hand of blackjack, for example, is cryptographically guaranteed for its fairness. This means that you do not need to fear that the casino isn’t playing fair.
When it comes to opening an account, there is far less, if any, red tape to consider. When you sign up at a fiat casino, you will need to go through an extensive account opening process, which will demand a range of personal details such as your full name, full address, date of birth and sometimes your ID number. On the contrary, the best Bitcoin casinos that we review do not ask for the majority of this. You will probably need to submit your email address, but other than this the information required is minimal. This also means that you do not need to upload sensitive documents such as a passport or bank statement, which provides a platform for an anonymous gambling experience.
A further advantage of gambling with Bitcoin is that transactions are significantly faster, especially with regards to withdrawals. When using a traditional fiat casino, you will often have to wait days, sometimes weeks, before your money is returned to your bank account. This is normally because the security department will need to verify your identity through document submission and then you will be at the mercy of banking refund delays, which normally takes 3-5 working days.
The underlying technology of Bitcoin also allows operators to offer more competitive odds on their games, as they do not need to install hugely expensive risk departments. Furthermore, transaction costs are minimal when using Bitcoin, which is in stark contrast to that of a fiat casino, who must absorb expensive transactional fees and charges that are imposed by the respective card issuer. They also have to make provisions for potential chargebacks, something that is impossible on the Bitcoin blockchain.
The trustless nature of the protocol also provides a far smoother barrier of entry for new casinos to enter the market, as crypto-casinos fall outside of the remit of domestic and regional regulations. Competition is good, as it forces the casino to offer tight spreads, as well as competitive welcome bonuses to attract new players.
When attempting to ascertain the strengths and weaknesses of the best Bitcoin gambling sites, our evaluation process is highly stringent. Most importantly, we ensure that our reviews are impartial and non-biased, something that is paramount for our readers to get an independent review. To ensure we are able to do this in the best way possible, we open a player account with each and every Bitcoin gambling site that we review. Without doing so, it would not be possible to give you a fully accurate representation of the entire gambling experience.
Once we have tested out the platform, including the complete deposit, stake and withdrawal process (which includes methods, times and limits), we then have an additional set of criteria that we must critique before the review goes live. This will include the user-friendliness of the platform, how good the software is and how many cryptocurrencies it supports. We also make a high-level judgement on the Bitcoin casinos’ security levels, which will look at whether they have a SSL certificate and/or a Provably Fair protocol installed. Moreover, we also enquire about if and what licenses the casino holds.
When it comes to the overall player experience, we also let you know what games are available to play and whether this includes a live dealer experience, as well as other features such as a sportsbook. Bitbettors will also advise what the customer service department is like, alongside the available contact methods such as live chat or email. This is an integral part of the decision making process, as there is nothing worse than running in to an issue and not having access to a reliable support option.
Finally, we will also enquire about the availability of bonuses on offer at the best Bitcoin gambling sites we test out. This includes welcome offers for new players, such as matched deposit bonuses and free spins, as well as for existing players, which might include weekly re-load deposits. Ultimately, Bitbettors leaves no stone unturned, and if you think we do, you can always contact us to let us know.
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Bitcoin Gambling Sites 101
The cryptocurrency craze has taken the world by storm, in what many people thought would be nothing more than a bubble. However, society as a whole are now starting to become aware of the many benefits of not just cryptocurrencies per-say, but blockchain technology in its entirety. One industry in particular that is in a state of transition is the online casino sector.
With more and more operator’s specializing exclusively in Bitcoin deposits and withdrawals, the future is looking bright for Bitcoin gambling sites. But why? Ultimately, it is a collective combination of increased privacy, ultra-fast withdrawals, transparent gaming outcomes and most importantly – all of this can be achieved in a trustless environment.
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