In recent times, there is an increase in bitcoin usage for online gambling. Gamblers are choosing to use the BTC payment method for their wagering transactions. Therefore online casinos were forced to adopt digital currency or lose significant customers.
Online gamblers can benefit from playing on Bitcoin sites. However, read BTC casino reviews on Clovr to make an informed decision of joining an online gambling platform. The pros of gambling with bitcoin outweigh the cons.
People living in countries like the US have to experience some challenges. Even if online gambling is not banned but transactions from financial institutions and banks are illegal. Therefore, many gambling sites stopped accepting customers from the US. Americans were left with less choice of online gambling platforms. Most of the gambling platforms they accessed experienced deposit and withdrawal process challenges.
In the United Kingdom, online gambling is regulated and legalized. You are used to the instant gratification of deposits and withdrawals but the gamblers from the US are a little unlucky. Deposits and withdrawals take some time.
Fortunately, Bitcoin resolved this issue. It is a digital currency, which is not controlled or regulated. Gambling sites find it very easy to process transactions. BTC transactions are faster and more reliable than banking options. Customers receive withdrawals within hours and that is an advantage.
Bitcoin has nothing to do with the user’s residential location, so using this digital currency for online casino transactions is worth looking at.
Perks of BTC gambling
- You can maintain anonymity. It is useful for wagering from countries that have banned online casinos.
- No need for several business days to get the winning amounts.
- Better odds with low margins because there is no overhead cost.
- The amount of extra cash in terms of bonus is huge because 1BTC = $7000 fiat currency.
- Receive the entire winning amount because BTC is not regulated, so no need to pay taxes. No need to declare anything to the state.
- Security is tight but you need to protect your Bitcoin wallet properly. It means don’t share wallet details with anyone.
Some negative side of Bitcoin is that its value is highly volatile and unpredictable. Users need to be a little tech-savvy using BTC as a payment method.
Bitcoin allows for fair gambling
The main reason cryptocurrency and bitcoin gambling sites are getting popular is that it is a new concept that has resolved several issues existing for decades, like anonymity and ease of deposit & withdrawal. Besides, players had doubts about game fairness but blockchain technology has offered a solution.
Provably fair is a technical solution, which ensures that the bitcoin gambling platform plays fair via blockchain technology. Players can double-check if the RNG {random number generator} worked properly or not.
Several years ago, online gamblers have to depend on gambling commissions or regulators to check the RNG of the online casinos. Therefore there have been scams, so the trust factor was low.
Provably fair gambling is game changer. You gain access to details and check if the outcome was genuinely random. Blockchain is tamperproof and if anyone tries the entire block can collapse thus concealing the details.
