Bitcoin Bitcoin Gambling - What's your take on it?

Bitcoin gambling has been taking over quite a few sites and has provided a way for new sites to pop up literally out of nowhere. What do you feel about bitcoin in general and do you think it's good for gambling industry or not?


For those unfamiliar with bitcoin I will list a few things about it:

• Bitcoin is a virtual currency that allows low-fee transactions from and to anywhere and it's not tied to banks
• The value of bitcoins is defined by the markets and therefore fluctuates
• Allows transactions without the need of providing personal information
• Non-reversible transactions
• Easy to obtain via exchanges (a lot easier than a while back)

I have personally been into bitcoins for a bit over a year now and I absolutely love it. In a normal situation when you register on an online casino you provide your name, address, ID, payment information and much more. With bitcoin you can pretty much forget all of that. The way bitcoin works allows gambling sites to allow new players to register just by providing an username and password. You can literally play within minutes! What's even better is that usually cashouts are instant, in most cases few hours at most.

Currently there are quite a few casinos that accept bitcoins and provide large variety of games you would see at a regular online casino such as slots, table games, roulette etc. The more unknown game is "dice", usually with just a 1% house edge is a perfect and simple game to play. Currently there's a lack of good poker rooms for bitcoin which is partly the reason I want to get people know about bitcoin and perhaps get new people on board.

A few bitcoin-only sites:

• BetKing.io (a dice site)
• Luckyb.it (unique plinko game)
• bitstarz.com
• BitcoinVideoCasino.com
• ...much more can be found at https://en.bitcoin.it/wiki/Category:Gambling

I am open to any questions about bitcoin so please, feel free to post.

 

I have a controversial feelings about usage of Bitcoins in gambling industry. On one hand it grants privacy for the customers and it is very easy-to-deposit/withdraw method so it is really convenient. On the other hand casinos operating with bitcoins do not ask KYC documents (Know your customer) and anyone, including underaged and addictive gamblers, can gamble in the online casino. So, as a whole I'm for Bitcoins, but the system itself must be improved in some way.

 

I notice that several sports sites are offering hefty bonuses if you use bitcoins. That's enough to at least get me to stick my toe in the water.

Has anyone any bitcoin experiences, good or bad, to share?

 

I have two online accounts. One at Bovada and one at Ignition. I sports bet Bovada and play poker at Ignition. Bovada sold their poker room to Ignition and that's the reason I now have two accounts. At least Bovada says it sold it's poker room to Ignition. I personally think they just created another online casino and shifted their poker to it. And I think the reason they did that was to separate the sports bettors from poker. I think a lot of people signed up to Bovada to bet sports then found themselves dumping a lot of money to the better players in the poker games. I think Bovada seen this and made moves to separate the sports bettors from the poker players so they will dump all their money betting sports.

That said, the one use I can see for using bitcoin to deposit on Bovada is there is no fee. I've made my deposits using a Walmart Debit Card and there is a 4.9% fee for doing so. No so with the bitcoin.

Bovada currently has an offer where a $500 deposit gets a $500 bonus. They advertise it as 5X rollover but it is actually 10X because you have to rollover the bonus too. And it's my understanding through emails they have sent me that it's a one time offer if you use a credit or debit card, but the offer is good multiple times if you use bitcoin. However, you need to be careful and read the fine print. They can revoke your bonus if they consider you to be a professional sports bettor.

 

Bitcoin gambling is much better than a local casino. A player goes one-on-one for blackjack for btc gambling. If you're at a local casino, you have skids that join your table and the best part, they don't know how to play by the book.

 

Bitcoin is a great system but you need to choose wisely before getting into it. When you mined some or get for free (gift etc) it`s a great way to make some more not using power resources(it`s really hard these days to mine smth - you need a good system to do that and keep hardware updated, not to mention checking your incomes and expenses).

If you want to buy it with real money, you need to have a good reason to do that. As Mickey said, if some casinos offer big-deal bonuses, spend small ammount (like 100 or 200$) to check if you want to deal with that. Keep in mind, some technical issues (wallets, for example) need to be learned

 

i agree with that.
sportbook must seperated with poker.
thx your sharing.
walmart bitcoin debit card is good?

 

The wallet is very important if u do frequent gambling in bitcoin.
The KYC thing is sucks, wallet like coinbase can't use for gambling.

now in bitcoin the mainly issue is KYC. The good is we can easily use bitcoin and more choice, but the bad is regulated.

 

I agree...coinbase wallet can't be used for gamblings...

 

Bitcoin gambling is better than gambling in casino or other gambling website cuz you don't just get a slim chance of winning the price but the price of bitcoin also keeps rising. I have been gambling on online bitcoin lottery website but still got no chance of winning it... Anyway it's free so I will keep on gambling on bitcoin.

 

seems cool

 

Perfect buy sports betting service like me Tennis 111% ROI and place the bets at Fairlay dot com
Much better then trading and you have an EDGE turing your investment into a positive expectation

If you know how to play sports you can make your own trading and have both, see it as diversification.

Cheers

 

Bitcoin gambling is a fun. Just imagine a 5 years ago you had crypto and it cost a joke amount of money, well, at least when you bought at that time. Now you're still holding it and of course you want to play with it and gambling games are the fun places to do it

 

I've tried Bitcoin in gambling and I'd say that it was very convenient for me. I was able to get some bonuses whenever I buy their native coin through the use of Bitcoin. So far I'm loving the entertainment bitcoin gambling is giving me.

 

Bitcoin is increasingly used on the Internet, and not just for gambling. Interest in this digital currency is growing every day, as shown by its increasing value and capitalization. The number of applications and virtual stores that accept it is increasing, and among them, of course, are the online bookmakers. In fact, bitcoin betting is the ideal way to place sports bets.

 

I have noticed that most if not all alt coins depend on BTC, hopefully the long awaited bull run will start soon

 

I actually do more bitcoin gambling than fiat gambling.

 

I've never found a way to win bitcoin through gambling. How does it even work?