Guide to Bitcoin Gambling Online
Online Bitcoin gambling is no longer a new thing. In fact, one of the first applications of crypto technology was the game Satoshi Dice, which allowed people to gamble with Bitcoin. Today, the game offerings have exploded into everything a casino player could ever want – slots, live blackjack, baccarat, and so much more – but there are still some folks who have questions about gambling with crypto.
For anyone who wants to know more about how it all works, we created this simple guide to Bitcoin gambling online. Read on, and all your questions will be answered!
How does Bitcoin Gambling work?
Crypto can be a bit intimidating at first, but if you follow some simple steps, you can get started pretty easily. Here’s how it works:
1. Set Up a Bitcoin Wallet. You’ll need a digital wallet to hold your Bitcoin. We’ll talk more about your options below. Once you set up a wallet, you can then…
2. Acquire Bitcoin. Crypto is purchased from an exchange. You have some choices about where to get Bitcoin, but the basic idea is that you convert fiat currency (e.g. dollars or euros) to the digital coin of your choice. Then, send it to your wallet. Now it’s time to…
3. Create a Casino Account. At mBitcasino, you can create your account with just an email address and get started quickly. More on casino selection below. Let’s make a transfer next.
4. Deposit Bitcoin to Your Casino Account. Inside your casino account, from the deposit section, you pick the amount you want to send. This will generate a unique address and QR code. Paste the address in your wallet’s transfer page, or scan the QR code. Then, complete your transaction. Your Bitcoin will appear in your casino account, often in minutes.
5. Start Playing. With your account funded, browse available games and start playing! Whether it’s slots, roulette, or blackjack, your Bitcoin balance will be used to place bets automatically.
6. Withdraw Your Winnings. When you're ready to cash out, head to the withdrawal section of your chosen casino. At mBitcasino, you get started at the wallet icon. You will need your digital wallet address, and then you’ll be able to make a withdrawal in minutes.
Those are the basics of using Bitcoin for online gambling. Please don’t forget to keep track of your deposits, winnings, and withdrawals for your own records and for tax purposes.
Why Use Bitcoin for Online Gambling?
Why “go crypto?” Well, using Bitcoin and other cryptocurrencies for gambling has some serious perks.
First off, transactions are super fast—you won’t be waiting around for your money. In fact, at mBitcasino, we can handle transactions in fifteen minutes or less.
Then there’s the privacy factor. With Bitcoin, you don’t need to share personal details, keeping your gambling under the radar. Transactions are public but are only linked to wallet addresses. No one knows who owns which wallet because names and addresses are not part of the blockchain ledger. Famously, this has meant that no one knows who the incredibly wealthy founding developer of Bitcoin is. Satoshi Nakamoto holds over a million BTC, which is valued at nearly $50 billion at the time of this writing! If he can keep his identity a secret, so can you.
Crypto transactions are generally more secure, reducing the risk of fraud. We are able to process transactions using a sophisticated cryptographic process across a peer network of crypto-mining computers.
And let’s not forget the bonuses and casino promotions —many online casinos like ours offer sweet deals like deposit matches and free slot spins just for using Bitcoin.
Top Bitcoin Gambling Games
Did you know how many games you can find at a crypto gambling casino? We have thousands of different games, including over 5,000 slots, over 500 live casino games, over 800 table games, over 60 baccarat games, over 130 Bitcoin gambling roulette games, over 200 Bitcoin gambling blackjack games, and a selection of Bitcoin gambling dice games.
Here are some of the most popular selections on our site, all available to play with Bitcoin.
- Slots. Slot games can cover every possible theme. Players are loving Sweet Bonanza, Gates of Olympus, and Book of Cats, thanks in part to the big win potential and fun art styles of each game.
- Live dealer games. For those who crave the thrill of a real casino, mBit offers live dealer games like Lightning Roulette, Crazy Time, and VIP Blackjack. These games bring the casino experience straight to your screen with real-time interaction and chat.
- Table games. mBitcasino features a wide array of classic table games, including provably fair options like Multihand Blackjack and American Roulette. These games combine traditional casino fun with the transparency of blockchain technology.
- Blackjack. Love blackjack? With various versions available, there’s a table for every strategy and skill level.
- Baccarat. Baccarat players can enjoy refined, simple gameplay with titles like Baccarat Pro and others that feature fun side bets.
- Video Poker. Fans of poker can try their luck with these games that remove the pressure of head-to-head play.
- Dice. Crypto dice games are fun and easy to learn. Bet the customizable over/under in Rocket Dice.
- Jackpot games. For those who like big wins, Bitcoin jackpots await in games like Zillionaire.
Choosing the Best Bitcoin Gambling Site
Choosing the right Bitcoin gambling site is important. Here’s how to shop for one in a crowded market:
First, check the reputation of the site. Look for online reviews and ratings from other players. A well-established site with positive feedback is a must. Websites with a proven track record of fair play and prompt payouts should be at the top of your list.
Next, ensure the site offers provably fair games. This feature, unique to crypto casinos, allows you to verify the fairness of each game, as we explained above.
Security is another critical factor. Make sure the site you choose uses strong encryption to protect your personal information and Bitcoin transactions.
Consider the variety of games offered. A good Bitcoin casino will have a wide selection, from slots and table games to live dealer options. Also, check the bonuses and promotions. You should be getting some generous benefits for gambling with crypto.
Finally, check out customer support practices. Reliable and responsive customer service is essential if you encounter any issues. A site with consistent support is ideal for addressing any concerns quickly.
FAQ
Do you have to pay taxes on Bitcoin gambling?
If you make a profit, you may be subject to taxes on your winnings. Players in the U.S. can check this helpful IRS article for more info.
Why do online casinos use Bitcoin?
It’s fast, secure, and anonymous. Check the “advantages of using crypto for gambling” section above for more info.
Is Bitcoin gambling illegal in the US?
There is no federal prohibition, but laws about online gambling can vary from state to state. Read up on the topic in this Wikipedia entry.
What online casinos accept Bitcoin as a form of payment?
mBitcasino accepts Bitcoin along with a variety of other coins.