How Bitcoin Casinos Work

Bitcoin transactions continue to gain popularity, at the same time they have also enabled a new arena for gambling, gaming and lotteries through online bitcoin casinos.

Photo: Images of Money/Flickr

Photo: Images of Money/Flickr

Some online casinos make operations only in bitcoins. Others have an option of transacting in bitcoin, in addition to operations in traditional currencies like USD, EURO. Bitcoin casinos run from all over the world, though they are supposed to be subject to local laws.

These casinos offer a wide variety of options for players to bet their bitcoin money on via bitcoin transactions. There is no doubt that there are many advantages of Bitcoin for gambling.

Satoshidice, swichpoker bitzino, satoshibet, BitLotto, StrikeSapphire, BtcSpiortsBet, are considered to be popular bitcoin casinos. BestBitcoinCasino, a website specialized on everything related to Bitcoin casinos, has made a list of bitcoin casino reviews, which can be a player’s guide while observing games.

Most popular bitcoin casinos with large user bases operate their own gaming software, developed on their own. Other smaller players use purchased or rented versions, which may be personalized by adding a few unique features to the game.

The system operates a game with the aim to minimize human interference. For instance, it plays the role of a table dealer, who is conducting a game, in case of games needing all human players. Considering the digital nature of their business, bitcoin casinos experience a challenge if convincing the users about fairness of their operations.

Most bitcoin casinos try to establish trust by openly disclosing how their software algorithms work. For others, it is more of a peer to peer reference that works or the uniqueness of their offering in the casino games.

Poker is the most popular game for bitcoin casinos, while many other interesting games, lotteries and other variations of popular games exist and continue to get invented. Looking back, PokerStars, the largest online poker room in the world, is preparing to accept Bitcoin.

Anonymity remains the biggest advantage for bitcoin casino users as it is for any other bitcoin transaction. Most bitcoin casino websites offer zero transaction fees with unlimited free daily transactions, while traditional currency based casinos have set limits and transaction fees. The digital nature of this business enables global access and easy availability of players in large numbers, round the clock.

Since online games are largely beyond the attention and control of authorities, many online games have been personalized with tweaks in the rules of a game. Such variations are not allowed legally in traditional currency based online casinos, and this has been a major reason for the popularity of bitcoin casinos without a doubt.

Casino gambling, whether based on conventional currency transactions or digital currency transactions, has always been a debated topic on ethical grounds. There is no doubt that using Bitcoin over the dollar to gamble online has many advantages. However, while it is always exciting to get carried away with easy money making options, users should keep in mind the legal aspects, challenges and risk areas.

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