Bitcoin has given the gambling industry a fresh breathe of life, beating geo-restrictions to create a censorship-resistant player’s paradise. Nowadays, new bitcoin casinos are appearing weekly.
But which sites are legit, and which ones should you avoid? In this guide, we review the top-rated bitcoin gambling sites for 2020 as well as a run-through of how to use a bitcoin casino and tips and tricks to make the most of your experience.
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Best Bitcoin Casinos 2020
We’ve scoured the web to find the best bitcoin casinos by bonuses, platform, regulation and fairness. Here are the top 5 which have made the cut:
- Great 200% exclusive bonus
- 1000+ casino games
- 67 video poker games
Bitcoin Penguin Casino
- Experienced casino founded in 2014
- 558 casino games
- Over 4.5 star rating
- Fast deposits and withdrawals
- Lots of table games
- Also live poker
- Up to €125,000 monthly withdrawals
- Over 2,000 exciting games
- Huge selection of live dealer games
Best UK crypto casinos
Best bitcoin casinos USA
What is a bitcoin casino?
A bitcoin casino is a gambling platform that accepts BTC as a method of deposit or withdrawal. In most cases, though, such casinos also accept other cryptocurrencies like LTC, DOGE, and ETH.
Bitcoin, the most popular digital currency by market capitalization, is generated by miners in the cyberspace when supposed “miners” utilize powerful computers to solve complex algorithms. In this process, the miners verify bitcoin transactions by adding them to the public distributed ledger called the blockchain. For that, the miners earn units of the cyber currency.
How does a bitcoin casino work?
A BTC casino operates virtually in the same way as a conventional internet casino with the only difference being you fund your account using bitcoins instead of fiat currencies. But since bitcoin is virtual, you store it digitally as a computer file in BTC wallet in your device or the cloud. The most intriguing feature of these casinos is that they don’t need intermediaries, such as banks. Players pass BTC from their holding to the casino, no third party.
Do I need to own bitcoin to play at a bitcoin casino?
You need to deposit bitcoin to your BTC Casino account to play for real money. However, many casinos allow you to play for free as you find your way around the site. But the thrill of online gambling is when you wager some real money, in this case, BTC.
What games are available on bitcoin casinos?
Bitcoin casinos offer the same games as internet casinos. These games include:
How do I choose a provably fair bitcoin casino?
There are things you should keep in mind while choosing a bitcoin casino to ensure you have the best chances and that you don’t end up on the wrong site.
In online gambling, a lot of shenanigans can happen. A casino may overly charge players, unregularly cancel a player’s payments or confiscate their winnings. Sometimes withdrawals take an eternity to process, or suddenly, a casino may decline the request over some hidden terms. But the epitome of it all is when a casino rigs its games. You lose a game unfairly, without even knowing.
For this reason, you must select a casino that uses Provably Fair algorithms. This algorithm enables players to vet and verify the randomness independently, hence the authenticity of each outcome. The process leverages mathematical algorithms and cryptography. It is, therefore, impossible for such a casino to cheat.
Online casino operators have had it rough in most jurisdictions, particularly here in the US. For instance, before the interpretation of the Federal Wire Act, most states had banned online gambling. For cryptocurrency casinos, though, the situation is still numb.
Since the government has no authority over bitcoin, bitcoin casinos are in a sense, in legislative limbo. That’s why many reputable online casinos are reluctant to adopt digital currencies for methods of payment.
Even so, there are liberal jurisdictions like Curacao, which issue licenses to such casinos. When choosing a bitcoin casino, you should ensure that the site is at licensed and regulated by one regulatory body.
Some casinos charge for both withdrawals and deposits. For that reason, it is wise for you to scan through the casino’s payment terms, paying particular attention to the costs of transactions, the speed, bonuses, if any, and many more.
Some BTC casinos, which also offer fiat currencies, also have unique bonuses to encourage crypto deposits. Such freebies, whether cash or in the form of free games, are a kind gesture, and you should exploit them.
However, be wary of the wager requirements, which dictates how many times you must play the bonus money or winnings for the bonus games before you cash out. Also, check if there are other conditions like the maximum bonus winnings withdrawal limit. Settle for bitcoin casino that offers you bonus deals that not only extend your playtime but also have tenable playthrough conditions.
One of the critical elements you want to consider is the available customer support options, such as phone support, live chat, or email. You must gauge their availability and responsiveness as well. Also, are the staff professional well-informed about their products and service, and proficient in how they handle punters, or to them, is everyone a sore loser?
Only a casino with quick ways to seek help and very friendly and smart personnel deserve a high rating. Also, some of us gamblers are DIY guys, so we appreciate a resourceful FAQ page.
How to use a bitcoin casino – step by step
Before you even think of playing at a BTC casino, you need to have some bitcoins, especially if you are going to play for real money. So, set up your wallet and load it with some funds as follows:
You need a Bitcoin wallets to get started. You can either choose a device-based or web-based wallet, but the former is more convenient. To create Bitcoin wallet sign up at a cryptocurrency exchange, which will provide you with a Bitcoin address. This BTC address will act as your digital wallet.
With your wallet, all set, load it with a few Bitcoins. You can buy BTC through Bitcoin exchanges like Coinbase, BTC ATMs, or a friend. Once your bitcoins are in your wallet, you can now buy goods or services and use bitcoin casinos.
Pick a BTC casino that best suits you. Preferably choose a casino with quality bonuses and a wide variety of quality games. You will need to register and enter your personal details such as name, address, email address and telephone number.
The next step is to fund your account. Login to your BTC wallet to send funds, and enter your casino wallet address. You’ll find BTC casino address under your casino’s cashier or banking section. Copy and paste it under the receiving address field of your BTC wallet, and send the amount of BTC you want to use.
Before spending your funds, claim the welcome bonus the casino promised you during registration. However, you must meet the minimum deposit requirements as stipulated in the bonus terms.
You can now wager on your favorite slots or tables games, or whichever casino game you choose. Note that some casino may list the wager amount in fiat. If that’s the case, the casino converts your BTC deposit to, let’s say, USD. It helps you understand your stakes better, especially if you are new to bitcoin gambling.
If you are lucky to spin your way to victory, you’ll be excited to withdraw your funds. Go to the cashier section and initiate a withdrawal. Enter your wallet address and the amount to transfer. Depending on your casino speed, the funds will be available in your BTC account.
Bitcoin casino bonuses
Bitcoin casinos are not only famous for quick transactions but their sheer variety of bonuses as well. They give these bonuses in the form of either monetary rewards or free games to their users who achieve specified milestones.
What types of bitcoin casino bonuses are there?
- Welcome Bonus: The most common type of deal you will find at any cryptocurrency casino will be a sign-up bonus. Here, you will find that the initial deposit that you make with the BTC Casino will at least be matched with bonus cash. Some deals will even double or triple the amount of your sign up bonus.
- No Deposit Bonus : If you find a Bitcoin casino with a no deposit bonus, then you can earn yourself some bonus money simply by signing up at the casino – you do not have to deposit any amount of your own cash.
- Match up deposit bonus: In this type of bonus, the casino will match the amount you deposit, e.g. if you deposit $100, your deposit bonus will be $100, so you will have $200 to play with.
- Free Spins: Some free spins Bitcoin deals come with the requirement of making a deposit, and some do not. Usually, any free spins winnings are paid to you as bonus cash, meaning that they come with wagering expectations. A free spins deal is always a good one though, and if you can hunt one out it’s more than worth your while to take advantage of it.
- Free bitcoins: If you are lucky, or if you hunt hard enough, you may find an online Bitcoin casino that offers you free Bitcoins. Some Dogecoin casinos also offer free Dogecoins. Don’t think this is the way to riches, though … you will only be offered a minimal amount of Bitcoins (or rather mBTCs or millibitcoins), and you will only be able to use them at the online casino that offered you them, and nowhere else.
- Reload bonus : A casino bonus that’s offered to players who have already made a deposit in the past.
- Game-Specific Bonus: In this type of bonus, you only get a bonus on a specific game.
- Preferred Method Deposit Bonus
- VIP Bonuses: Many casinos offer VIP bonuses to loyal clients. As a VIP, you can get access to extra perks such as free spins, chips and gold weekly or monthly.
What are the best Bitcoin casino bonuses?
Although almost every casino offers varying freebies. Some bonuses, may, well, too good to be true, and, yes, sometimes they are not valid. That offer that you may think is attractive at first sight, maybe just a trap.
Before you choose a casino for its bonuses, check on the rollover requirements. There’s no point of claiming a humongous amount of reward that claims you roll it over 80 times or a one that won’t allow you to withdraw more than you have deposited. There’s no point.
Here are some example of great bonuses in the market
What is a wagering requirement?
When selecting a casino, you need to be aware of the concept of wagering requirements. This is a minimum amount of wagering you need to do before you can cash out any winnings from your bonus. For example, if you havea $100 bonus with wagering requirements of ‘35 times’ then you will need to wager $3,500 before you can cash out your winnings.
Note that this is the amount you need to WAGER, not SPEND. You will not lose every time you place a wager on a slot or casino game and indeed you could end up winning more than you lose.
How much can I earn on a bitcoin casino? Payout percentages
The amount you win is purely based on luck! Most games offered at a casino are games of chance. If you play the high paying jackpot games and get lucky, you can walk away from a millionaire.
In any game of chance, you play plays against the house – the casino. But casinos are in business, so, to keep running, the game developers program the games to give casinos a small advantage in the long-run. This advantage, also the house edge, cater for overheads. Otherwise, casinos would be making losses. Hence, a casino collects money from players and pays it back in the form of wins, but retaining the overheads. So the rate at which a casino game pays out is what we call the RTP (return to player), often expressed as a percentage. Every game has it, and it is available for all players to see.
Take a look at the five best bitcoin casino games for payout percentages:
Where can I buy bitcoin to play at a casino?
In case the casino you choose requires you to deposit with Bitcoins, you can purchase bitcoins on the following exchanges.
Binance is the biggest cryptocurrency exchange in the world by trading volume. It offers over 100 digital currencies. The base fee for trades on Binance is 0.1% for makers and takers. You can reduce that by 25% (that is, to 0.075%) if you hold BNB on Binance. If you hold BNB, Binance uses that for your fee by default.
- Lowest fees on bitcoin purchases
- Fast, excellent platform
- High transaction speed
- Relatively low liquidity
- Not very beginner-friendly
How we ranked the casinos on this page
Final thoughts on bitcoin casinos
Any gambler cannot ignore Bitcoin gambling meteoric rise. BTC casinos offer some of the best features. However, with more contining to emerge like Ethereum casinos, it is becoming nerve-wracking to identify the most reputable ones. But if you clearly define what you want. Pay attention to a casino’s game variety and its software providers, quality of its customer support, the bonuses it offers, how quick it processes transactions and such things. If you are ready to get started, we would recommend Fortune Jack casino which offers a fantastic bonus and great customer service. Just click the link below to get started!
Our Recommended Bitcoin Casino 2020
- 110% Welcome Bonus + 250 Free Spins!
- 100's of Bespoke Bitcoin Casino Games
- Excellent Website and Usability
Is Bitcoin legal?
Yes, it is legal, at least in most countries! Only Bolivia, Columbia, and Ecuador have outrightly banned the use of Bitcoin and other digital currencies. In the US and most western countries, you can use it to make payments and is subjected to taxes just like conventional money. That, however, does not qualify it as a legal tender like the USD, AUD, Euro, Pound, or any other currency. The two parties transacting (a punter and casino) must mutually agree to use it as a form of payment.
What makes bitcoin gambling so appealing?
Bitcoin and other cryptocurrencies answer to the need for quick transactions online. With Bitcoin, the deposits and withdrawals are almost instant.
Is bitcoin gambling safe?
Yes! Bitcoin is decentralized in nature and uses cryptography. So, it offers an unprecedented level of security. Plus, you don’t have to give your details when signing up at a casino. So you remain pseudo-anonymous.
What do I need to start playing at a BTC Casino?
Often, the casino will need you to provide a valid email address, and you, too, might need this, just in case you forget your logging password. Other than the email, you need some Bitcoin.
Do I have to pay taxes on my bitcoin winnings?
Tax agencies may require you to declare your income. As such, you may have to pay taxes. That said, bitcoin remains in a grey area of legislation in most jurisdictions.
Can I deposit with a debit card but cashout in Bitcoin?
No! Most casinos want you to withdraw using the same method you funded your account. If you use an e-wallet like Paypal, then you’ll have to cash out in the same way. Also, withdrawing in bitcoin when you deposited using a debit would amount to indirectly buying bitcoins.
How can I acquire bitcoins?
You can buy through a BTC ATM or an exchange, trade with a friend or relative, or accept them as payments or gifts. Alternatively, you can mine new ones, or benefit from a bitcoin faucet program that you can earn from 100 Satoshis (0.000001BTC) up to 10,000 Satoshis for just visiting a website.