When Bitcoin first came onto the scene in 2009, if you can believe it, it was worth next to nothing. The first transaction in fact, was then 5050 Bitcoins exchanged for $5.02 via PayPal, or approximately $0.00099 per BTC.
Oh how things have changed since then, and many are the lamenters who wish they'd gotten in on the game earlier - with this crypto pioneer skyrocketing in value over the years. But one of the worries then was not only will Bitcoin ultimately be worth anything, but equally as important, will I be able to do anything with it?
Well it turns out, in addition to being a smart investment for the savvy who know how to game the exchange rates, Bitcoin has also become a top currency for online gambling. In fact, it's giving traditional currencies like euros and dollars a run for their money, with many online casinos opting to go crypto-first, or at a minimal accept BTC and other cryptos as ubiquitously as fiats for funding your account.
The reasons for Bitcoin's popularity for gambling are numerous including distinct banking advantages like faster transactions, or limitless deposits and withdrawals. This is all thanks to the nature of the blockchain of course, the enhanced anonymity of the format, and the reduced bureaucracy mixed in.
And since Bitcoin has gone completely mainstream since its inceptions, it's now considered a trustworthy currency, making it a great option for crypto enthusiasts who also happen to love gambling.
To help you find a casino that works with BTC, we've put together this list of the best Bitcoin casinos around. Each of these casinos, we'll point out, works with other crypto currencies as well, so you won't be limited to the one. And if you prefer, fiats too, though some to a more limited extent.
Of course, Bitcoin banking isn't the only criteria we measured to land these operators on our top Bitcoin casinos list. They're all also licensed, safe, have great games, quick cashouts, and all of the other elements you're looking for in choosing an online casino for real money play.
The word Bitcoin is thrown around quite a bit. We've all certainly heard of it, and many wish we'd bought it earlier when it was cheap. But what is it actually?
So in short, Bitcoin is a decentralised digital currency, which essentially means that it operates without banks or central authorities. Rather it was created specifically as an alternative to traditional financial systems, enabling peer-to-peer transactions on a global scale.
It is known for simultaneously making every transaction transparent through the blockchain ledgers, while using advanced cryptography to protect users' privacy.
New Bitcoins are created through a process called mining, where computers solve complex mathematical problems to validate transaction. With a limited supply, there is a finite number of Bitcoins that can ever be created, which contributes to its scarcity and potential value appreciation. If you're not into mining (which few of us are), the other way to acquire it, of course, is by purchasing it.
It's important to note, however, that as a digital currency, Bitcoin does not physically exist. That means unlike dollars, you won't be able to withdraw BTC bills from an ATM, or exchange dollars for Bitcoin at the hotel concierge. You also can't store it in your regular bank account.
Instead, you will need some sort of a crypto wallet to hold BTC or any other digital currency.
There are a number of options for this. If you want to go the software wallet route, as in a digital wallet installed on your computer or mobile device, some popular picks are:
Electrum
MetaMask
Mycelium
Exodus
If you're interested in a hardware wallet, as in a physical device that stores your Bitcoin offline, popular choices are:
You can, by the way, also opt to store Bitcoin on a cryptocurrency exchange platform itself. However, this is generally not an overly recommended route as it's considered a less secure option, with exchanges having been hacked in the past (extremely rare mind you, but apparently possible).
Understanding Bitcoin Units
With a single Bitcoin easily being worth well over $130,000 CAD at any given hour on any random day, different units have been created to make smaller transactions easier and frankly, more practical. After all, we're guessing most people wouldn't want to deposit a full 1 BTC when getting started, nor is it possible to wager that much on a single slots spin.
Instead, you'll more likely be dealing in fractions of BTC for banking and betting, with the units going as follows:
1 Millibitcoin (mBTC) = 1/1,000 of a Bitcoin (0.001 BTC)
1 Microbitcoin (μBTC) = 1/ 1,000,000 of a Bitcoin (0.000001 BTC)
1 Satoshi (sat) = 1/ 100,000,000 of a Bitcoin (0.00000001 BTC)
How Did Bitcoin Come About - A Short History of BTC
For those wondering at this point how the craze even began, the story is such that Bitcoin was born out of a desire for a decentralized digital currency that was popping up in certain communities. The initial stage many credit to a group of cyberpunks that had been tinkering with the concept of a cryptocurrency for a few years, with Hal Finney having created the first proof of work system back in 2004.
The origin of Bitcoin itself came about built on those efforts to a degree, and is largely traced to August 2008, when the domain name, Bitcoin.org was registered.
A couple of months later, the blueprint for this legendary, peer to peer currency emerged, under the authorship of Satoshi Nakamoto. In 2009, Bitcoin was released as open-source software. Finney downloaded the software and received 10 Bitcoins from Nakomoto.
To this day, it is unclear who Satoshi Nakamoto is, but rumours suggest "he" might even be a group of people, or the Finnish developer Martti Malmi.
Fun fact: While people were buzzing about Bitcoin and what to do with it, one of the earliest, and now most famous Bitcoin transactions involved someone paying 10,000 Bitcoins for two pizzas on May 22, 2010. Obviously, Bitcoin wasn't a big deal back then and no one was taking it seriously, with this pizza purchase effectively setting the price of Bitcoin at a value of around $0.0025 at the time.
However, according to today's exchange rate, those two pizzas cost $1,338,765,130.57!! Laszlo Hanyecz, a programmer and the purchaser of those pizzas has amazingly said that he has no regrets, but we we're pretty sure we'd be reeling from indigestion from such an experience!
Bitcoin and Online Gambling
As more people now hold Bitcoin and other cryptocurrencies, more and more establishments have started accepting them for payments. This is particularly true of online casinos, where crypto gambling has become a mainstay since the first crypto casino launched in 2012, through present day, with dozens of excellent options like industry leaders Stake, Cloudbet, and the new Shuffle casino.
However, be very careful about which casino you choose if you want to play with Bitcoin. Some crypto casinosoperate under licenses issued by reputable regulatory bodies (particularly the Curacao Gaming Authority) in specific jurisdictions. These are the ones you want to play at, as the license ensures that the casino adheres to certain standards, and safeguards player interests. So make sure to check that the casino's licensing information is displayed on its website, before even considering an operator.
Footer of the Bitsler casino website with the license seal displayedMoreLess
That's because, the sad reality is that many crypto casinos operate without a license. This is particularly true in jurisdictions where crypto gambling regulations are less strict or non-existent. If this is the case, the operator may not adhere to the same standards as a licensed casino, which is obviously not in your interest. They may be fine mind you, but why take the risk, with so many excellent operators out there who DID bother to get licensed?
As such, while you can feel free to do your own research, the names we just mentioned two paragraphs above are amongst the best for pure crypto gamblers. However, all of our recommended Bitcoin casino operators are going to be a sure thing, for safe and reliable gambling. So feel free to choose some of those too.
How to Use Bitcoin at a Casino
If you want to gamble with Bitcoin, essentially what you'll be doing is conducting transactions in BTC. That means depositing and withdrawing this crypto from the casino.
The process for doing so is going to be pretty standard; as in the same at most online casinos.
For deposits, you will choose the altcoin you want to use - in this case Bitcoin - and then either scan the QR code or copy-paste the address provided by the casino into your crypto wallet. From there you'll select a sum you'd like to transfer, and complete the transaction. Since the blockchain is fast, you'll see that deposit amount in your casino balance, within minutes if not seconds.
Choose Bitcoin as payment method in your casino wallet.MoreLess
Many online casinos will also let you buy crypto directly from a link in your casino wallet to a third-party provider like MoonPay, or even via traditional formats like Visa, MasterCard, Apple Pay, or Google Pay.
Afterwards, some casinos may convert your crypto to dollars for betting purposes, while others will keep it as a Bitcoin balance in your account. Either way you will get the correct, current exchange rate when you go to cashout, so there's no worries there.
To withdraw your winnings, you'll again go to your casino wallet, choose Bitcoin as your cashout method, provide the unique Bitcoin address of your personal wallet where you want to receive the funds, enter the amount of Bitcoin you want to withdraw, and confirm.
Bitcoin Casino Banking Limits - Minimum and Maximum Cashouts
One of the beauties of Bitcoin banking for casino play, by the way, is that there are often no limits on withdrawals. This is certainly the case at Stake, Shuffle, and Cloudbet where you can withdraw any sum, big or small, with no maximum cashout limit in place. Think of those $20 to $4,000 max limits you typically see at traditional online casinos, and it's easy to get the appeal.
Beyond that, a place like Cloudbet even lets you cash out amounts of up to $2,200 without having to verify your account. But that's rare.
Tip: The terms Bitcoin casino and crypto casino are generally used interchangeably. That means if the casino accepts Bitcoin for transactions, it likely also works with other major cryptos like Ethereum, Tether, USD Coin, Binance Coin, and more. When banking with any of these, the limits (or lack thereof) will be the same.
Bitcoin Casino Banking Timeframes
Bitcoin casino deposits are typically very fast, often taking only a few minutes to complete.
Most Bitcoin casinos process deposits instantly once the transaction is confirmed on the blockchain. The speed of the deposit depends on the number of confirmations required by the casino (usually it's only one, but some casinos may require more for security purposes). And one confirmation generally taking around 10 minutes. If the Bitcoin network is experiencing high traffic, it may take slightly longer for transactions to be confirmed, though of course it also often quicker.
Bitcoin casino withdrawals are typically faster than traditional cashout methods, but the exact timeframe can vary. While most online casinos aim for quick processing, often within a few hours, some may take up to 24 hours or longer, depending on their internal procedures and verification requirements. It's always best to check the specific terms and conditions for that.
Once the casino processes your withdrawal, the Bitcoin transaction needs to be confirmed on the blockchain, which again takes around 10 minutes per confirmation. Overall, however, it's safe to say that Bitcoin casino withdrawals are normally fast, and certainly amongst the quickest around.
What Are the Pros and Cons to Bitcoin Casinos?
Besides the fact that you already have Bitcoin and are wondering what to do with it, you may be asking: Are there any other reasons I'd want to use Bitcoin for betting at an online casino? So yes, there actually are quite a few reasons including the increased anonymity, reduced bureaucracy, and enhanced speed potential. In a nutshell, we see the pros and cons as follows.
Hits:Misses:
Very fast transactions
Often lower transaction fees
Increased privacy
Global accessibility
Less bureaucracy
Increased security and transparency
High fluctuation in the exchange rate
While gaining in popularity, not all online casinos accept Bitcoin
The regulatory environment of crypto gambling is still evolving
If you haven't used it before, you may find it technically complex at first
Do I Need to Verify My Account When Playing at a Bitcoin Casino?
While Bitcoin - and cryptocurrencies in general - are famous for the anonymity they provide, you won't necessarily benefit from that fully at most online casinos. At least if you do the smart thing and stick with a licensed casino. That's because licensed casinos are legally required to verify your identity to prevent money laundering and fraud, through the KYC process, which is ultimately good for everyone.
However, even legally operating online casinos, as we just mentioned about Cloudbet, may have a bit more leeway on the verification front; so you'd want to check the individual operator's Terms and Conditions for this.
Provably Fair Games at Bitcoin Casinos
Provably fair games are online casino games that allow players to verify the fairness of each round's outcome. They rely on cryptographic algorithms and open-source code to ensure that the results are truly random, and not manipulated by the casino.
To do so, they are based on a hashing technique called SHA256, which was developed by the US National Security Agency (NSA). The technique automatically converts every bit of digital information into a unique data string, also known as a hash. Each round of each game uses this hashing technique to demonstrate its fairness; meaning basically that you can actually view the whole string on the blockchain, if you're so inclined.
While it's truthfully a bit complicated for most people, once you take a moment to understand it, it's not that hard.
Essentially, how it works is that before each game round, a unique "seed" is generated. This seed is composed of two parts - the server seed and client seed, which are generated by the casino and your device respectively. These are then hashed (i.e. encrypted) using a cryptographic algorithm. The hashed values can be seen before the game starts.
Then, after the game round is played, the casino reveals the server seed. Now if you want to verify the results, simply use the revealed server seed, your client seed, and the game's algorithm provided by the casino, generally on its website, to do so. If the calculated result matches the actual result, you can be confident that the game was fair.
How to check fairness of the game at RocketpotMoreLess
Are Provably Fair and RNG Games the Same Thing?
Provably fair algorithms are most commonly associated with crypto gambling. In theory, many types of casino games can be adapted to use provably fair algorithms. However, the complexity and practicality of implementation can vary depending on the game category, and the provider.
As such, at least for now, not all games at crypto casinos will have the provably fair mechanism; rather usually only on specific game types that fit under the category of crypto games.
All games, however, at a legally operating online casino will have a random number generator (RNG) built in. That means even in provably fair games, an RNG is still used to determine the game outcome. However, the key difference is that players can verify the fairness of the RNG's output on the blockchain if it's also categorized as provably fair.
How Provably Fair Bitcoin Games Work, with Blackjack as an Example
The provably fair technology is designed into the game, with hashing taking place in the background during the shuffling process.
Seeds and hashes are generated, creating data randomly. The hash value is then transmitted to you.
The cards are dealt and you play your hand of blackjack as usual.
After the game is over, you can verify the hash value to make sure the game results were fair.
To do this, look for a 'Provably Fair' or 'Verify' button within the game interface, and proceed from there.
Alternately, some casinos may have a dedicated section on their website for verifying game results.
While this used to be a more laborious process, reputable crypto casinos (knowing the appeal of this gaming format) have made it easy for you. Many even include articles to help you understand the concept and process on their website - so great a draw is the provably fair algorithm.
Some of the live casino options at Stake CasinoMoreLess
How Does the Volatility of Bitcoin Impact My Online Gambling Experience?
The volatility of Bitcoin can have both positive and negative effects on online gambling experiences.
On the positive side, many actually enjoy the thrill of the fluctuating value of Bitcoin, which can add an extra layer of excitement and unpredictability to the gambling experience. Players can also potentially see their winnings increase significantly if the value of Bitcoin rises during or after their play.
Furthermore, some players may even see Bitcoin's volatility as an opportunity to hedge their bets. For example, if you think the value of Bitcoin will rise, you might gamble with the intention of cashing out your winnings in Bitcoin when the price increases; which means you'd enjoy even more profit on winnings.
On the flipside, if the value of Bitcoin drops significantly while you're gambling or by the time you get around to cashing out, your winnings may be worth less in terms of their original fiat currency. The constant fluctuations in Bitcoin's value can also potentially distract from the actual game and lead to impulsive decisions based on price movements, rather than the game itself.
So, that being said, while it's strongly recommended to closely monitor the price of Bitcoin before and during your gambling sessions, don't forget to focus on your results, especially in more skilled based games like blackjack, and arguably roulette. Also, it may be more important than ever to set strict deposit and loss limits, to help mitigate the risks associated with Bitcoin's volatility.
The value of Bitcoin to the dollar fluctuates near-constantly. But looking back over the last few years, there's no doubt how lucky (some might say smart) Bitcoin investors have been.
What's in the Future for Bitcoin?
After all is said and done, gambling or not, a question we all ask is: Where is Bitcoin going?
Realistically Bitcoin is the granddaddy of cryptocurrencies, and it continues to be the crypto that everyone wants to hold. While, it's seen a lot of ups and downs over the years, it's mostly been ups, regularly breaking new records, at astronomical exchange rates.
While there are now easily over 10,000 digital currencies on the market (some say even 25,000), none holds a candle to the power and prevalence of Bitcoin. And while there's always chatter, it's not showing any signs of slowing down either. Though we're of course, not profits, as in foreseers of the future; nor frankly is anyone else. Otherwise we'd all be rich!
Fluctuations happen all the time by the way. They're the nature of the beast. For example, when Elon Musk tweeted back in March 2021 that you can now buy a Tesla with Bitcoin, the price of BTC shot up. While it did fall back down when Musk said there are environmental concerns to the crypto, the use of green energy in BTC mining or simply the potential value, managed to mitigate these concerns.
This, however, remains an excellent demonstration of how volatile and easily influenced the market is, although there are also days that trading is up or down, without any clear insight as to why.
The reality is, there has been nerve wracking volatility since its inception - and almost definitely will be more to come - but that's part of the adventure of cryptocurrency development. Many investors love the ride, and for casino players who have BTC in hand, this coin looks like it's going to be a payment method that's here to stay.
That's certainly evidenced in how many crypto-only or crypto-first casinos have come onto market over the past couple of years; as much as in how older, more established casinos have increasingly been integrating BTC and other altcoin transactions into their cashier.
Want to know more about Bitcoin casinos? We're with you! Crytpo gambling is an interesting and exciting frontier, that's quickly moving from the novel, to becoming a main stay - and may even morph into the top format in due course. For now, we get why you'd want to explore it from every angle, which is why our experts are here to weigh in.
Bitcoin is a virtual currency, in that it exists only online. That is opposed to fiats like dollars and euros which also have a physical manifestation in the form of coins and bills. While many were skeptical at first, Bitcoin is now widely traded and talked about, and from a currency perspective, does appear to be here to stay.
From a comparative standpoint, however, some would argue that Bitcoin is fundamentally different from traditional fiats issued by the government, like dollars and euros. That's because, it's related to more like an asset than a currency, with its value exclusively dependent on what it's being traded for on the markets.
That being said, in reality, fiats are essentially being valued that way as well. Just think of the US dollar to Canadian dollar, or dollar to euro exchange rate, and you get what we mean.
2.) Can I use Bitcoin like a fiat?
Bitcoin, like most cryptos, is mainly purchased for investment purposes, as there are still relatively few places where you can use it as a payment method. For example, you would be hard pressed to find a grocery store where you can pay in BTC.
On the other hand, Bitcoin gambling has become increasingly popular over the years, where it is treated like real money, i.e., the kind of cash you can buy stuff with like rounds of slots, or hands of blackjack.
So overall, while Bitcoin is most certainly real money, its purchasing power beyond gambling, is still evolving, making online casinos one of the best places for real-world use.
3.) Do casinos accept Bitcoin transactions?
Yes, of course. Not only do casinos accept Bitcoin transactions, but this has actually become a popular genre in the online gaming world, with crypto casinos being the hottest entity on the iGaming scene. In fact, so much so, that many traditional veteran online casinos have also added BTC to their accepted payment methods, as well as dozens of other popular cryptos like ETH, USDT, and more niche altcoins like SAND or APE.
In addition, they've also made it exceptionally easy to conduct Bitcoin transactions. So if you already have Bitcoin in your crypto wallet, you can use this wallet to make a direct deposit to the casino (and make withdrawals as well).
And if you don't yet have BTC and want to get in on the crypto gambling game, many online casinos will facilitate the purchase of Bitcoin (or other accepted cryptos) direct from your casino wallet through a third-party provider like MoonPay or Remik using a credit card, Google Pay, Apple Pay, and the likes.
4.) Is Bitcoin gambling legal?
Sure, Bitcoin gambling is legal so long as you choose to play at a licensed online casino, and online gambling in general is legal in your jurisdiction.
You can easily do your own research, by reading up on local laws for gambling (a quick Google search will suffice), and checking the website's footer for details on its licensing. While traditional online casinos will have licenses from different regulatory bodies (all of which are considered equally good), we have found that most crypto casinos have a Curacao e-Gaming license.
If, by the way, you want to find excellent Bitcoins casinos that are fully licensed and regulated the easier way, we recommend visiting any of the operators listed above in our best of list, on this very page.
5.) Are there fees involved with Bitcoin casinos?
Casinos do not charge extra fees for using Bitcoin. In fact, most of the casinos that we reviewed at Casino.Guide do not charge fees for deposits or withdrawals at all.
However, as you may know, you will almost always incur crypto transaction fees for any action on the blockchain. Some casinos will absorb this cost for deposits, while you're responsible for covering the blockchain fees on a cashout. This seems most fair honestly, and covers each side's interests ideally.
Blockchain fees will generally differ between the digital coins you're using, so it may cost more or less to transact with various cryptos. In addition, the exchange or wallet service you use also plays a factor, with each having its own fee structure for these things as well. If you'd like, you can usually pay a higher fee to speed up the confirmation process, though that will be up to you.
In any event, it's important to be clear, the fees have nothing to do with the casino itself, so don't be put off when you see this. Besides fees are often a part of life, even with bank wires and e-wallet services. So it's in no way the end of the world, just something you should pay attention to.
6.) Is there a Bitcoin welcome bonus at online casinos?
Some crypto casinos offer a welcome bonus, which is available explicitly for deposits made in BTC. And some online casinos have also converted their welcome offer so that it can be claimed in BTC as well.
Usually at crypto casinos, when a BTC welcome bonus is available, it is clearly spelled out as such - with website banners and cashier prompts, as well as promo emails sent to remind you.
"Regular" online casinos that accommodate Bitcoin generally offer all of their promotions in the Bitcoin equivalent value. So if it is a 100% up to $100 welcome bonus being advertised, you would get 100% up to the equivalent value in BTC.
While listed in USD, since Cloudbet is essentially a crypto-only casino, you'll be getting this value welcome bonus in the equivalent in Bitcoin, if that's the deposit method you're using. Also, for a minimum deposit of 0.001BTC through the Casino.Guide links, you'll get 200 free spins thrown in to the welcome bonus fun.MoreLess
A place like BC.Game, on the other hand, simply advertises its welcome offer as a 100% bonus + 100 free spins, which has different max values for different currencies, so you need to check each promo to be sure of whether BTC qualifies, and how much.
Also, even some of the best crypto casinos like Stake do not offer a welcome bonus. However with the exclusive Casino.Guide promo code "casinoguide" you'll get a 100% up to $500 welcome offer there (in BTC equivalent value of course!).
Other promotions like a reload bonus, weekly happy hour, or weekend bonus would follow the same formula (of a Bitcoin to dollar equivalency value). So it is possible to get other BTC bonuses as well.
7.) Are Bitcoin casinos safe?
You really do have to be careful when it comes to choosing a Bitcoin casino. Actually any casino really, because at the end of the day we're talking about real money here. However, since Bitcoin transactions may be harder to trace than a credit card charge, you need to have even more trust.
And let's face it, there's still a fair bit of stigma around Bitcoin and gambling respectively, hence even more so together, in terms of the legitimacy factor.
So while we definitely wouldn't say Bitcoin gambling is shady (rather the opposite!), you do want to make sure you go with a credible operator, which you can easily do by following our recommendations and your own common sense, which first and foremost dictates, only visit sites that operate legally with a license as we've already addressed.
8.) What is the future of Bitcoin in online gambling?
There is no denying that Bitcoin revolutionised the world of online gaming. And based on its ever-increasing popularity as a payment method at online casinos, we'd say it's nowhere near reached its peak.
In fact, the future of Bitcoin in online gambling looks promising, with several key trends likely to shape its upwards trajectory including increased adoption, technological advancements, an evolving regulatory landscape, and increased competition that may likely lead to enhanced innovation in terms of crypto games and bonuses alike.
The Expert Conclusion on Bitcoin Casinos
While just a few years back Bitcoin casinos were a true novelty, as is becoming increasingly clear, they may just be the future of online gambling.
As professional casino reviewers, with a finger on the pulse, we can tell you we are increasingly seeing new crypto casinos being launched, with older establishments getting in on the trend by adding crypto wallet options as well.
This of course makes sense, as Bitcoin has become a household name. And many people have it as part of their investment portfolio, with a desire to use it on more "practical" things.
From our perspective, there is no downside, as at the end of the day a Bitcoin casino will be just like any other online operator. It's just the payment method that's different. In fact, most reputable crypto casinos will have the same games you can find elsewhere, similar promos, a 24/7 support promise, and the likes.
So if Bitcoin casinos appeal to you, then we say go for it. This is essentially regular old online gambling at the end of the day, just with BTC to bet and bank with.
I've been working in the online casino landscape in Malta for more than 10 years and have seen how the industry works from customer service roles to the backend of the business. While I am lucky enough to call myself a native on the sunny island called Malta, I also enjoy travelling and have travelled across Canada! After wandering through the great white north, I have decided to share my knowledge and now work with Canadian players to compile accurate casino reviews to help players navigate through the hundreds of gaming sites online.
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