How Does Bitcoin Gambling Work?

In bitcoin gambling or crypto gambling, players use cryptocurrencies like Bitcoin, Ethereum, and Litecoin to place the wager.

Here’s how it works:

1. Players deposit the crypto that they want to use to play into their accounts on a crypto gambling platform.
2. They can use crypto to play anything from slots to traditional gambling games to innovative, blockchain-specific offerings.
3. The players then withdraw the winnings back into their crypto wallet.

The key benefits of crypto gambling are easy to see. Firstly, it offers heightened security. Cryptocurrency is inherently more secure than traditional payment methods.

Secondly, the blockchain technology in crypto gambling platforms ensures that every transaction is completely transparent and anonymous. Each transaction and game outcome is recorded on the blockchain, allowing for easy verification and trust in the system. You do not need to share personal financial or identifying details, as you would at a traditional online casino. All you need is a crypto wallet.

Lastly, crypto gambling is known for provably fair games. This feature is unique to blockchain and crypto platforms, and allows players to verify the fairness of each game.

All these benefits put together make crypto gambling a highly attractive option for online gamblers seeking security, anonymity, transparency, and fairness.

How do I Choose the Best Bitcoin Gambling Site?

To make sure you have the best possible gambling experience, it’s important to know what to look for in a crypto gambling site. Here are the most important factors to consider.

Accepted Cryptocurrencies

Crypto gambling sites can vary widely in what tokens that accept. Look for a site that accepts more than just Bitcoin and Ethereum. Ideally, your gambling site should accept a wide range of altcoins, including privacy coins like Monero, stablecoins like Tether, and any cryptocurrencies you already own.

Bonuses and VIP Programs

Crypto gambling bonuses can be worth a lot of money, so they’re an important consideration when you’re choosing what platform to play at. We’ll cover bonuses in more detail below, but it’s important to remember that a huge welcome bonus isn’t everything. It’s also nice to have reload bonuses that can add up to a lot of money over time.

In addition, if you plan to return to the same Bitcoin gambling site repeatedly, look for generous VIP programs. These programs offer exclusive rewards for loyal players and can offer opportunities for even more free bets.

Fast and Easy Deposits and Withdrawals

Deposits and withdrawals at a crypto casino should be seamless. Look for casinos that process payments and withdrawal requests instantly. With instant payouts, you never need to wait around to get your tokens back from your casino account.

Also be sure to check the payment limits that a casino sets. Most casinos set reasonable minimum and maximum withdrawal limits, but some set low maximum payout limits that can make it harder for high rollers to cash out.

Security and Licensing

We always recommend that players gamble with a licensed platform. Nearly all of the platforms we recommended are licensed by the Curacao Gaming Control Board, one of the largest regulators of online gambling activity.

Licensed casinos have to follow strict rules for how they handle players’ funds. This is important because it means that if a casino went out of business, you would still be able to get your crypto back.

It’s also a good idea to look for account security measures like SSL encryption and two-factor authentication. These measures reduce the chance that an attacker can break into your gambling account.

Privacy

Some crypto casinos enable players to sign up and start gambling anonymously, with no ID verification required. While this is not common, these no KYC gambling platforms can be a good choice for players who don’t want to share personal information with an online gambling site.

Diversity of Games and Game Providers

Top Bitcoin casinos should offer a wide range of games from all types of categories, including slots, table games, instant win games, live dealer games, and more. Many of the casinos we highlighted have thousands of games available for you to try.

In addition to considering the breadth of games available, it’s also important to think about where those games come from. We recommend playing with casino sites that use well-known software providers like Red Tiger, Evolution, Spinomenal, Pragmatic Play, and others. These software providers have reputations for creating great games that are fair to players.

Support

Having access to customer support when you need it is important. Many of the casinos we reviewed offer 24/7 support by email and live chat, but that’s not the case for all casinos. When comparing casinos, it’s a good idea to contact the customer support team to see how long it takes to get a response.

User Experience and Mobile-friendliness

The gambling site you choose should offer an outstanding user experience from sign-up to navigation to betting. Everything should be seamless and easy to navigate, with nothing to distract you from enjoying your play. There’s no one feature that makes for a great user experience, so it’s important to test out a gambling site and see how it feels to use.

Another thing to keep in mind is how mobile-friendly a casino is. Most of the sites we reviewed have mobile-responsive websites that work seamlessly in your smartphone browser and provide full access to all games and betting options. Some even have dedicated mobile apps, which can provide a more tailored experience for playing on the go.

Restricted Markets

While most of the casinos we reviewed are available around the globe, some do have restrictions on players from certain countries. In the US, it’s typically easy to get around these restrictions by using a VPN. However, it’s worth keeping in mind that not all casinos will accept players from every country.

Reputation

As a final check, it’s important to see what others have to say about a casino. You want to play with a gambling site that players trust and where they feel like they’ve been treated well. If a gambling platform has a history of treating players unfairly or security failures, it’s probably best to avoid.

Is Crypto Gambling Safe and Legal?

Crypto gambling is a new, ever-evolving industry with a lot of moving parts and different rules depending on where you are playing from. As with most things related to cryptocurrency, the laws on the books for crypto gambling sites vary wildly from one place to another, and may not even exist at all. The legality of crypto gambling will depend on your jurisdiction; laws and regulations for cryptocurrency and gambling vary significantly across nations.

• Some Countries Allow It: Crypto gambling can often be legal in countries that permit both gambling and cryptocurrency usage; many European nations regulate and legalize online gambling while permitting the use of cryptocurrencies for betting purposes.
• Some Countries Prohibit or Limit Crypto Gambling: Crypto gambling can often be illegal in countries that prohibit or heavily regulate gambling. Let’s take the US, for example, where online gambling laws vary greatly by state – with some states permitting online gambling that includes cryptocurrency usage while others do not.
• Regulatory Grey Areas: Crypto gambling can also fall within countries whose gambling laws were written before cryptocurrency’s inception and have yet to be modified accordingly. This often happens as existing regulations were implemented before their inclusion was made a legal obligation.

Always consult your jurisdiction’s relevant laws and regulations if you’re uncertain about the legality of cryptocurrency gambling in your region. Seek legal advice as soon as possible if any doubt arises regarding this aspect.

Crypto Gambling vs Traditional Online Gambling – Which One to Choose?

There are numerous advantages to playing at crypto gambling sites compared to traditional online gambling. The best Bitcoin gambling sites are typically faster, have lower fees, and have more games than traditional online gambling sites. Using cryptocurrencies instead of fiat currencies and traditional payment methods also makes crypto gambling sites more accessible to the average player. Crypto payments also allow for greater anonymity and better privacy.

There are downsides to playing at crypto gambling sites though. The most obvious downside is the volatility of the value of cryptocurrency. One day your wallet could be worth $100. The next, it could be worth $50. However, if you are in for the long run, this volatility is less of an issue.

The other most notable risk of crypto gambling relates to something many enthusiasts actually like about cryptocurrency, that is, the lack of regulations. Playing at BTC gambling sites gives you the chance to play fun, exciting games and make secure transactions super quickly. It also puts you at risk of being exposed to the dark underworld of cryptocurrency, which involves things like money laundering, pump-and-dump schemes, and outright fraud.

The best way to avoid these tricky situations is to stick to the secure BTC gambling sites on this list that we’ve approved. If you only play at reputable crypto gambling sites, you’re unlikely to experience the worst of the crypto industry.

Which Currencies Can I Use at Crypto Gambling Websites?

There are thousands of cryptocurrencies on the market. While some are just short-lived meme coins, while others have risen to the top to become established currencies with huge market caps. You find a good mix of cryptocurrencies accepted at crypto gambling sites. Here are the coins you should expect to see at the best crypto-gambling sites.

Bitcoin (BTC)

Bitcoin is the biggest and most popular cryptocurrency in the world, and the most widely-accepted coin at crypto gambling sites. Some sites operate just as BTC gambling sites and only accept Bitcoin. If you are looking to just dip your toe into crypto gambling sites, starting with Bitcoin is a good way to go. Buying and transferring Bitcoin is super easy compared to some of the more niche coins out there, so you really cannot go wrong.

Ethereum (ETH)

Ethereum is the second most popular cryptocurrency in the market, after Bitcoin. But crypto users tend to be fans of Ethereum for its other capabilities, not just for gambling transactions. Ethereum is used for smart contracts and decentralized applications making it a good choice for NFT and other Web-3 investors. In the crypto gambling sites context, Ethereum works just like Bitcoin, meaning you should expect super fast and secure transactions. Ethereum is available at most crypto-gambling sites.

Litecoin (LTC)

The speed of Litecoin is what makes it so popular within the crypto community. While it works very similarly to Bitcoin, Litecoin transactions are processed nearly four times faster than Bitcoin transactions.

Solana (SOL)

Solana is one of the newest and fastest-growing cryptocurrencies in the market. It is pretty similar to Ethereum as far as usage goes, but less widely used – although its popularity is steadily growing. You should be able to use it at most of the biggest crypto gambling sites.

Dogecoin (DOGE)

Dogecoin burst onto the scene a few years ago via social media hype, including with an endorsement from Elon Musk. It was once just a meme coin, but it is now one of the most widely accepted cryptocurrencies at crypto gambling sites. Because of its popularity, you can buy and sell Dogecoin as easily as you can buy and transfer any of the other top cryptocurrencies.

While these cryptocurrencies are the top choices for funding gambling accounts, it’s important to remember that using them incurs blockchain network fees for transaction validation.

Crypto Gambling Site Platform Types

Gambling games are not limited to cards and Bitcoin roulette. There are numerous games in which players can stake their money and win big. The following are some of the most popular Bitcoin gambling games that players can participate in:

Sportsbooks

Cryptocurrencies have been widely accepted at online sportsbooks for over a decade. Now, most of the top Bitcoin gambling sites also let you bet on sports. eSports betting is especially popular at crypto betting sites since most crypto fans tend to skew younger and more tech-savvy than traditional gamblers. Players can put a wager on possible outcomes before or during the game.

Pre-match predictions allow players to predict the scoreline or other possible outcomes before the game begins, while in-play predictions allow players to make predictions while the game is still being played.

Because of its inclusive nature, Bitcoin sports betting is one of the most popular kinds of online crypto gambling. Several mainstream users are already shifting their attention to the rapidly growing market. Globally, the sports gambling market is expected to reach $182 billion by 2030, according to a report carried out by Grand View Research.

Casinos

Crypto slots games come in many different themes, types, and sizes, but the most common games you will see at crypto gambling sites are traditional table games and slots. These games include online blackjack, roulette, baccarat, sic bo, and other table games.

Slot games tend to make up the biggest number of crypto gambling site games. Most sites will have hundreds or even thousands of slots, and some crypto gambling sites will also offer exclusive games that are unavailable anywhere else.

Poker Sites

Poker was one of the earliest and most popular kinds of online gambling, and remains a highly competitive arena of online gambling. The best Bitcoin gambling sites will have a good selection of world-class games, as well as hosting tournaments where you can participate and compete against other crypto gambling games fans.

The majority of the best Bitcoin poker sites offer both cash tables and tournaments. At some sites, you’ll also be able to play video poker, where you’ll compete against the banker using fixed odds.

Lotteries

Crypto lottery games are some of the oldest and most popular forms of crypto gambling. Like dice games, lottery games are popular because they are so simple.

Blockchain-based lottery games are gaining popularity because they’re not subject to the constraints you’ll find in traditional lottery games. The Lucky Block NFT gaming platform, for example, allows players worldwide to select random numbers for as little as $5.

What Bonuses Do Crypto & Bitcoin Gambling Sites Offer?

One of the biggest upsides to playing at Bitcoin gambling sites compared to traditional gambling sites is the huge amount and variety of bonuses available. Bitcoin sites typically have more generous and creative bonuses than their traditional online gaming counterparts. Here are some of the bonuses you should expect to see at the best Bitcoin gambling sites. All of the below bonuses are generally subject to wagering requirements, so make sure you read the fine print.

Welcome Bonus

All the best bitcoin gambling sites will offer you a reward for signing up. With that being said, these bonuses vary greatly from site to site. The best crypto gambling welcome bonuses will match your first deposit, give you some free spins, and other perks. For example, on a platform promising a 100% welcome bonus, if a user deposits $100, the player will receive $200 instead of the original deposit amount.

Free Spins

Free spins are a great way to discover new games or to play at your favorite slots without breaking the bank. Most Bitcoin gambling sites will give you free spins when you create your account, while peppering them in as part of other promotions throughout the year.

Free Bets

Free bets typically apply to crypto sports betting but they also can refer to table games. They will either work as bonus credits deposited into your account or as set wagers you have to use as one lump sum.

Free Poker Chips

Like free bets and free spins, free poker chips are pretty much what they sound like. These bonuses can only be used at video poker games. You can use your bonus chips in place of or alongside your crypto wagers when you play poker at crypto gambling sites.

VIP Rewards

VIP rewards are essentially perks you earn by participating in a crypto gambling site’s VIP program. These can include crypto free spins, free bets, special bonus offers, and more. At most Bitcoin gambling sites, you will automatically be enrolled in the program, which means you just need to start playing to start earning perks.

Cashback

Cashback or rakeback bonuses give you bonus credits back, generally as a percentage of your losses. For example, a 10% cashback bonus means you will get 10% of the amount wagered and lost back as bonus credits. Rakeback bonuses on bitcoin gambling websites are often tied to a specific period of time, typically either weekly or monthly.

No-Deposit Bonus

No-deposit bonuses on bitcoin gambling websites are highly sought after because they compensate a player for signing up before they’ve even made a deposit. When a deposit is eventually made, this can significantly increase a player’s total wagering power. It’s safe to say that these are the rarest kinds of bonuses to find, and very much in demand.

Tournaments & Giveaways

Tournaments and giveaways are fun ways to earn bonuses and compete against other players on bitcoin gambling websites. In tournaments, there normally will be a pool of money available to all players. You then earn your stake of the pool by playing against the other competitors. The higher you end up on the leader boards, the bigger your slice of the pie.

Top Crypto Gambling Sites Bonuses

How to Play at a Crypto Gambling Site

Now that you know what to consider when picking a crypto-gambling site, you are ready to learn how to create an account. Follow the steps below.

Step 1 – Choose a Gambling Site

This should be easy for you to do now since you know what to look for, but just to give you a refresher, you should pick a crypto gambling site that is reputable and available in your country. There are a lot of good options at the top of this list. The site should have a wide variety of games that you want to play, quick transactions, and a good customer support section.

Step 2 – Create an Account

Creating your account is usually as easy as clicking a button to sign up and filling out a form with some basic information such as your email address. Some countries have additional Know Your Customer requirements, so don’t be surprised if you are asked to provide your full name, address, occupation, and other personal details.

Besides filling out the form, you should also look for bonus offers. Some crypto-gambling sites have bonuses that you can only claim if you opt into them when you create your account.

Step 3 – Open Your Email

After filling out the sign-up form, you will be sent a confirmation email. Check your inbox, open the email, and follow any final sign-up steps the site asks you to do.

Step 4 – Make a Deposit

The last thing you need to do to get your account started is make a deposit. This is relatively straightforward at most crypto gambling sites. All you need to do is send your crypto from your wallet to your new crypto gambling site account.

Step 5 – Find a Game To Play

Once you have some funds in your account, all that is left for you to do is start playing.

Best Crypto and Bitcoin Gambling Sites Verdict

Bitcoin gambling offers a more speedy, secure and anonymized way of playing gambling games online, and has completely changed the face of internet gambling. The platforms are less fee-driven and aim to provide their customers with the best possible user experience.

Although there are several Bitcoin gambling sites to choose from, we recommend Lucky Block. The platform is one of the best crypto gambling platforms available and is powered by a powerful Telegram bot that allows for instant and secure sign-up and crypto transfers. Furthermore, the game lineup is quite impressive, with some offering well over 2,000 games spanning slots, sports, casinos, dice, poker, and several others. It also provides thousands of casino games, a $1 minimum deposit, a 200% matched bonus deposit and 50 free spins.

All the normal considerations that you should keep in mind when playing online gambling games still apply. No matter which of these crypto gambling sites you end up playing at, make sure you never wager more than you can comfortably afford to lose, and remember to play responsibly.

Responsible Gambling

It is our recommendation to approach online Bitcoin gambling with great reverence. Meaning, it is best be as responsible as possible when it comes to gambling. This is because at the end of the day gambling is a game of chance. You will most certainly lose at some point. Therefore, you should do your best to set limits, know when to stop, and avoid chasing your losses. By doing so, you will give yourself the best possible opportunity to enjoy online gambling in the long-run.

Should you need help, you can seek out external resources and organizations such as Gambler’s Anonymous, to help address any potential issues. Additionally, you can leverage the information and resources via our responsible gaming guide.

Why You Can Trust CryptoNews

As the world’s largest crypto news website, CryptoNews has been a pillar in the cryptocurrency community since 2016. Our longstanding presence in the industry, combined with our commitment to delivering accurate and timely information, makes us a trusted source for crypto enthusiasts and professionals alike.

Our team of over 30 dedicated employees works tirelessly to ensure the quality and reliability of our content. We conduct weekly fact checks and constantly update our information to reflect the latest trends and data in the crypto world. With CryptoNews, you’re not just reading another article; you’re gaining insights from a seasoned, dependable source in the realm of cryptocurrency. We have strict editorial guidelines that you can read more about here.

Crypto and Bitcoin Gambling Sites FAQs

What is the best bitcoin casino in 2024 for USA players?

Our picks for the best Bitcoin gambling sites are Lucky Block, Mega Dice, and BC.Game.

Can I gamble Bitcoin online?

Yes, players can gamble with Bitcoin. However, we advise players to be careful, as gambling is a game of chance.

Where can I gamble with crypto tokens?

Users can gamble on all the top sites we have reviewed in this guide. However, our top pick is Lucky Block  The new platform is powered by Telegram, intuitive and offers an impressive library of games, tables, sports wagering, and more.

How do I know that crypto gambling is secure?

To make sure you’re playing at a secure crypto gambling site, check if the platform is licensed and regulated by a reputable authority. You should also research the reputation of the gambling platform, and verify if the platform uses provably fair algorithms so that it can’t manipulate game results.

What is the best Bitcoin wallet for gambling?

The best Bitcoin wallet really comes down to personal preference, but if you are looking for a good overall wallet MetaMask and TrustWallet are good picks.

How do you deposit crypto on a Bitcoin gambling website?

The first step is creating an account with a crypto exchange and buying the cryptocurrency you want to play with. From there, you go to your Bitcoin gambling site and find your account’s wallet address. It will usually be a huge string of characters. Copy that address and withdraw your cryptocurrency into it back at your crypto exchange.

What is a provably fair game?

Provably fair games are games backed by a blockchain technology algorithm that ensures the games produce random, fair results. The difference between these games and traditional casino games is that the fairness of the games are much more verifiable since the algorithm and its results are stored publicly on the blockchain.

What is the best crypto gambling site online right now?

Our review team found the best crypto gambling site is Lucky Block. The platform has a clean-cut user interface, a sizable game library, and offers table games and sports gambling. It is powered by Telegram which allows for instant and secure playing.

References

Disclosure: 18+ Rules regarding online gambling vary from country to country, please ensure you are following them and gamble responsibly. The content on this website is provided for entertainment purposes only. We may utilise affiliate links within our content, and receive commission.

About the Author

Sergio is an expert on cryptocurrency gambling at Cryptonews.com. He has written extensively about sports betting with cryptocurrencies for outlets like Sportslens and The Sports Daily. Specializing in crypto casino content, particularly roulette, poker, and blackjack, Sergio provides thorough, fact-checked reviews of gambling sites for Cryptonews. He also covers crypto gambling bonuses, game guides, and emerging trends like Telegram gambling. Sergio holds degrees from the University of Malta and the University of Leicester.