Bitcoin gambling has become very popular lately for many reasons. The biggest factor is that they offer many advantages over fiat casinos. From faster withdrawals, no fees and provably fair systems, here is an overview of the various advantages bitcoin casinos offer.
Most popular bitcoin gambling sites don’t require any sort of verification ( ID, address proof ), completely different from online fiat casinos. Users can easily deposit, play and withdraw without exposing their identity and gambling records. Withdrawals are faster without verifying users’ age or identity. It is known that some online gambling sites in American is illegal. Playing online Bitcoin casinos can easily bypass the hassle of the local legislation.
Provably Fair Systems
The bitcoin community has formed its own standards of gambling system. Unlike most fiat casinos, many games are provably fair. Users can check and make sure the bets aren’t tampered with by the casino. They can check the outcomes with the input and a secret number. The casinos have no way to rig the results. With non-provably fair games, you have no idea if the casino is cheating you. There are usually a bunch of third-party verifiers to verify the bets.
Lower House Edge Standards
Most bitcoin gambling sites offer lower house edges compared to fiat casinos. They mostly offer 1% house edges, but some sites even lower! Comparing with 20% or 10%of house edged fiat casinos offer, what is the point of going there? A low house edge is very important factor because it indicates that how much percentage of the house earing can be expected. The lower the percentage is, the less loss gamblers will make.
Extremely Low or No Fees
When gambling sites accept deposts through regular payment channels rather than bitcoin, some amount of fees are applied. They can’t afford paying the fees themselves, so the fees will be directly deducted from the deposit. With bitcoin, the only paid fees are the transaction fees, which are usually only a few cents.
Due to the way our banking systems work, it might take a few days for withdrawal to reach to you, and many casinos will review your play history first, which might take extra few days. With Bitcoin, the transactions are instant, and because of how provably fair works, the house has no way to cheat the players. So withdrawals will be processed instantly, or in a few hours.
Large Variety of Games
Running a bitcoin casino doesn’t require a licence, so there is a larger variety of games as anyone can make a bitcoin casino. As long as you know coding and have a decent amount of bankroll, you can easily start a gambling site. Many people have done this, and created unique, creative games .
As you can see, there are many reasons why a lot of people have been flocking to play or operate a bitcoin casino. If your looking to gamble online, there isn’t any better option than to gamble at a bitcoin casino.