Getting Started with Online Bitcoin Gambling
The next thing you need to do is find a reliable gambling operator that accepts Bitcoin. As we already mentioned, there are two options here. You could look for a service that is exclusively working with cryptocurrencies or pick a traditional one that simply accepts BTC.
Whatever you decide, there are a couple of other factors you should always consider. For a start, the reputation and the license of the online gambling operator are of crucial importance. You don’t want to lose your money to some shady company that could scam you.
The next thing you need to take into account are the games offered. Some Bitcoin platforms cover various products like sports betting, poker, and casino. If you want to try them all, it’s better to find such an option. Of course, there is the alternative to go to a website that specializes in the one you like the most.
Finally, the overall quality of the service matters a lot. The trustworthiness of the support, the user interface, the mobile version, the variety of games, and other factors should be part of your evaluation.
If you don’t have the time to do your homework, you could always stick to our list of trusted Bitcoin websites we referenced earlier. Here are a few recommended sites to consider if you want to jump in right now.
Depositing and Withdrawing Bitcoin
After you join a gambling website that works with Bitcoin, it’s time to complete your first deposit. Usually, the process is very simple. The bookie/casino/poker room will give you the address of a BTC wallet. Go to your own wallet, and send the desired amount. The money will soon appear in your account.
The withdrawal process is similar. Once you wish to cash out, open the cashier section of the gambling operator. You will be asked to provide a Bitcoin wallet and enter the amount you wish to withdraw.
Many platforms will send the money instantly, and you will have it soon. However, some have a pending period before the transaction is processed. There’s nothing to worry about unless it takes more than 1-2 days for that to happen.
Is Gambling with Bitcoin Legal?
The simple answer to this question would be yes. Unfortunately, it’s not QUITE that simple.
For a start, it depends on your country’s legislation. Many countries have yet to introduce regulation related to Bitcoin, which creates something of a grey area.
If your country has laws that specifically make Bitcoin gambling legal, then, of course, you have nothing to worry about. If your country has laws that do make it illegal, then obviously you need to think very carefully about how to proceed. We would certainly not encourage you to intentionally break a law that you’re aware of.
For most of you, this will probably be a non-issue. We’re not aware of many laws that apply directly to Bitcoin gambling, so the chances are good that you have nothing to worry about.
Tips for Gambling with Bitcoin
Many of the traditional tips for online gambling apply to Bitcoin, too. For a start, you should always stick to reliable operators with a proper license and guaranteed fair play. The promotions are also important, as you want to get as much extra value as possible.
There are some tips that apply to Bitcoin exclusively, though. For example, you should always keep your eyes open for games with a zero house edge (casinos), no betting margin (sports betting), or no rake (poker). Plenty of Bitcoin operators have such products, which are close to impossible to find on traditional gambling websites.
When you can, you should always stick to provably fair games. They are the bread and butter of Bitcoin gambling, as the fairness of the games is bullet-proof. No gambling commission or other regulator could match it.
If you want even more useful advice, be sure to check out the following page
The Bitcoin gambling world is developing rapidly, and the future seems bright. If you decide to give it a try, you’ll find that there are a lot of interesting opportunities.
Just make sure that you fully understand what you’re getting into. The information on this page and the others we’ve linked to tell you most of what you need to know, but it wouldn’t hurt to expand your knowledge even further.
Our Bitcoin section has plenty of other pages worth checking out, and they provide lots of information on various topics related to this popular cryptocurrency.
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