The gambling industry has also suffered a great loss, like the rest of the industries in the local economy have, because of the measures and changes introduced to combat the pandemic. As it seems, it will continue to suffer if some creative solutions aren’t found soon. One has emerged quite recently, though. Many have introduced digital currencies as a form of payment, to offer more freedom when it comes to gambling to users all over the world. What we can see as a result is that more and more people are becoming interested in cryptocurrencies. At first, many chose to use bitcoin to gain more freedom in gambling, but afterward, as its value started growing overnight (again!), it also motivated people to start investing and trading.
Just a quick reminder. Since it came out on the market, bitcoin value has been on a constant rise in popularity and value. The reasons are connected to its characteristics – it is beyond the control of any government. It’s also immune to most rules and regulations because online bitcoin casinos do not have to apply the same regulatory pattern as the real-time casinos do. Therefore, this currency can be a side solution for skipping some of the government’s limitations regarding gambling, which attracts people to it even more. It became a great tool for both gamblers and casinos.
Now when you know all about the perks of gambling with bitcoin, here are a couple of tips on how to find a reliable gambling site.
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1. Check if it’s bitcoin-only or not
Generally, there are two types of online casinos you can encounter at the moment. Some are the regular, old ones we’re used to playing in, that chose to introduce a bitcoin as a type of payment, but still also accept other currencies, such as CasinoHEX. They are popularly called hybrids. The second type appearing on the market recently, are the bitcoin-only casinos. Obviously, receiving only crypto payments.
There are a couple of things to consider when it comes to both, however, the most important might be the license. As you are already familiar with, online casinos are heavily controlled by the regulations of the states where they are registered, therefore, not every casino is accessible from every state. So, the government of the state controls their activity and issues them the license for their work. Which is a good thing when it comes to the safety of gamblers’ gain and deposits. Crypto is just another type of payment they receive.
Om the other hand, a bitcoin-only casino is kind of an unregulated area, law-wise. Since the currency itself is not controlled by the institutions, these casinos have the freedom o operate wherever they want, regardless of the state rules. It sounds great for casinos, but not necessarily for the gamblers. Therefore, to be able to gamble safe, on a reliable bitcoin casino, do the research and check other people’s experiences in gambling on these platforms. After all, the anonymity crypto gives you, is definitely worth it.
2. Assess the safety
We already started this topic in the previous point, but it deserves further elaboration. Like in every field where money is involved, safety is the primary concern you should think about. There have been many hacker attacks in the last couple of months, aiming to steal the crypto possession of people who trade them. It would not be a surprise if they start growing in the gambling industry as well.
Although regular online casinos, with an issued license, should provide you with ease, regarding safety, there’s always a risk. However, the risk of fraud is a lot less low, to be honest.
In bitcoin gambling platforms, it’s a bit harder to ensure safety through the law mechanism. For the reasons, we’ve already mentioned. This does not mean that they are completely unsafe. It’s a well-developed system. Besides, there are other tools that can be used to ensure safety, such as SSL encryptions. These are standard safety measures used for the websites and guarantee the transactions you perform will be done properly. So, for assessing the safety of the bitcoin casino, do check if the platform uses all the website encryptions needed for the safety of the assets and the gamblers.
In the end, the experience of other people with the platform is a relevant way to check. If there are no bad experiences, no need to worry.
3. Choose the platform, based on the activity
Online gambling is a vast term, at the moment. And it’s growing even more vast, as things start to move online more and more. Since the biggest sports events were canceled this year, sports betting shops had to find an alternative, and offer betting on e-sports. So, who’s to say something else won’t be introduced in online gambling.
Anyways, different platforms offer different gambling options. Some are only for sports (basketball, football, etc.), some only for horse races, and some are for playing classical casino games like poker, slots, and other stuff. So, choose a platform that offers you a variety of games, to make sure you can change your mind.
4. Bonus and promotions
A reliable bitcoin gambling site should have interesting things to offer to gamblers. Like bonuses for the newly registered and those who performed a couple of transactions, and promotions. If it has a loyalty program, that’s promising a great deal of reliability.
A site that invests in being present on all possible devices, should have a decent level of reliability, otherwise, its money wasted. That’s why you should check on how many devices are available, like does it have a mobile version and can be used on both android and iOS. Aside from reliability, mobile versions carry plenty of advantages, such as gambling whenever and wherever you like.
These are more or less the general tips you should consider if you want to gamble safely with crypto. More will be added, as the experience in the field expands.