Bitcoin Casino’s Faucet – How does it work?
There is often a misunderstanding regarding crypto-casinos and player bonuses. Although in comparison to their fiat counterparts they are minimal at best, there are a number of ways to get your hands on free casino bonuses. This ranges from a 100% matched deposit for new players, free spins and even a complimentary entry in to the monthly jackpot! However, have you ever heard about a Bitcoin faucet? This article will discuss exactly what a faucet at a Bitcoin casino is, how it relates to crypto gambling and why they are so beneficial to you – the player!
What is a faucet?
According to the Oxford dictionary, a faucet refers to a tap. Once you have read our guide from start to finish, you will understand the reference! In a nut shell, it is a way for websites to get people to use their products and services by offering them free coins as a reward for their engagement with the platform. This can be in the form of Bitcoin or any other cryptocurrency and it is not reserved just for crypto-casinos.
Handing out free Bitcoins to everyone just for using your website is not a business model that is always going to be sustainable long-term, so to help pay for this generosity, faucet providers sometimes place advertisements on their platform.
At this stage of the article I hope you are not getting too carried away of thinking that you are going to be getting rich from the faucet system? Unfortunately, the amounts are generally very small and will vary from a hundred Satoshi’s to a few thousand.
How and why do crypto-casinos use a Bitcoin faucet?
Fiat casinos are notorious for offering new customer highly favorable sign-up bonuses, in a move to entice players to their platform. However, although at first glance this might sound tempting, they often have to cost for these excess freebies by increasing the house-edge on their games or tightening the odds on their sportsbook.
Crypto-casinos are still a relatively new breed, so although they are still very keen to attract a new consumer-base, they instead choose an alternative, long-term strategy. This is almost in reverse to their fiat counterparts, as they prefer to offer long-term value through minimal house-edges. However, this means that they often do not have the resources to offer similar high-value sign-up bonuses. To counter these restrictions, Bitcoin casinos will offer their players a faucet reward system.
Although these amounts are normally very small, they have one fundamental purpose – they allow new players to test out their platform without having to risk too much of their own money. Bitcoin casino faucets are also really handy for players who are happy with the crypto-casino they are registered with, but they want to test out a specific game that they are not too familiar with.
Online gambling operators are of course in the game of making money, so it is hoping that the incentive of free coins will subsequently lead to the player depositing their own real-funds. In this sense, it is potentially a win-win situation for both the casino and player alike.
The distribution of free Bitcoin’s can be determined in a number of different manners, with each crypto-casino having their own preference. For example, a common method is for the crypto-casino to release new coins at a pre-determined time-frame, say every 15 or 30 minutes. Some platforms might specify that you need to play a certain amount of games to qualify, or even wager a minimum amount. Even more bizarrely, while some operators state that you must have balance to qualify for the Bitcoin faucet, other demand that your balance is zero!
So where can I earn free money using a Bitcoin faucet?
This is the golden question, as faucet promotions come and go! To point you in the right direction, here are some of the best arrangements going.
Stake casino, the provably fair platform that was launched as recently as 2017, has quickly grown the ranks as a major crypt-casino. Recognizing that it is still in its early days, Stake.com has a very reasonable Bitcoin faucet program in place. This type of reward system is based on the amount you wager and the level of your account, starting at a minimum of 100 Satoshis.
Launched as far back as 2014, CryptoGames.net are an altcoin casino that offers a variety of traditional games through their clean, basic and simple platform. Their faucet program is one of the best in the industry, with new coins being distributed every three minutes! The amount you receive is based upon your gambling activity, which means the more you stake, the more you receive.
FortuneJack are one of the largest crypto-casinos for market activity, and with good reason. Launched in 2014, the platform caters for a good number of altcoins and are even supported by a Provably Fair protocol. They also have one of the largest gaming suites on offer, which includes all of your traditional casino games and a significant amount of slots.
When it comes to their Bitcoin faucet bonus, they like to do things slightly differently. Unlike the aforementioned programs offered by Stake and Crypto-Games, FortuneJack distribute coins to those with a 0 balance. In fact, you don’t qualify for the free money bonus unless you have a 0 balance!
Although the bonus is relatively small at just 523 Satoshis, this will at least allow you to try out their plethora of games.
The Verdict about faucets?
We understand that the monetary values of the faucet bonuses being distributed by online crypt-casinos are quite minimal, however you have to look at the bigger picture. These Bitcoin freebies are exactly what they say on the tin – free! Ultimately, they give you a great opportunity to test out games before you get stuck in properly!