An estimated 50% of Bitcoin transactions are related to gambling. Faster transactions and lower fees than traditional payment methods are the two key reasons why the online gambling industry is turning to crypto, and gamblers are loving it!
In this guide, we’ll explore bitcoin gambling and introduce you to some of the best online casino games that allow you to bet with crypto.
Table of Contents
- What Is Bitcoin Gambling?
- Why Is Bitcoin Gambling So Popular?
- Is Bitcoin Gambling Legal?
- How to Purchase & Use Bitcoin for Online Gambling
- 1xBet: the Best Crypto Gambling Site
What is Bitcoin Gambling?
Bitcoin gambling is simply the act of placing bets online with bitcoin.
Traditionally, gamblers use “normal” currencies to place bets in physical or online casinos. However, the use of bitcoin as a payment method on online gambling platforms is on the rise. Some gambling sites such as , for example, only accept bitcoin and other cryptocurrencies as forms of payment.
On bitcoin gambling sites, players can place BTC bets on games like blackjack, roulette, poker, baccarat, and more.
Why is Bitcoin Gambling So Popular?
As a decentralized, peer-to-peer payments network that anyone with an internet connection can use to send and receive payments, the gambling industry and gamblers were among the first to adopt the digital currency.
Why? Because Bitcoin offers several advantages over traditional online payment providers, making it ideal for gambling transactions.
- Gamblers that do not want gambling transactions to appear on their bank statements will find crypto gambling quite attractive. The pseudonymous nature of Bitcoin means that players can enjoy a certain level of privacy that fiat currencies don’t offer.
- While gambling sites accepting the euro, for instance, may not be accessible to people outside Europe, bitcoin gambling sites are accessible to everyone. They don’t alienate anyone based on their location because the Bitcoin network is borderless. Anyone with an internet connection can access bitcoin.
- There are no restrictions to the transactional volumes that you can carry out with bitcoin. Traditional payment providers, on the other hand, come with certain daily transaction limits.
- Crypto owners are in control of their funds. When you are not relying on a third party like a bank, convenience increases. For example, players are saved from the hassle of waiting for bank transfers that could take several days to process.
- Bitcoin gambling is more affordable than gambling with traditional currency because transaction fees are lower. Transactions are also more secure thanks to blockchain technology.
Is Bitcoin Gambling Legal?
Chances are that if you can participate in online gambling in your country, you can get involved in bitcoin gambling as well.
So, can you gamble with bitcoin in your location? Most likely, yes!
There are only a handful of countries where the use of bitcoin is banned and they often coincide with countries where gambling is also restricted.
You can check the list of countries where bitcoin is banned and a quick Google search will tell you whether you are allowed to legally gamble in your country or not.
How to Purchase & Use Bitcoin for Online Gambling
BTC gambling begins with a purchase. Here are the steps that you should take from purchase to placing a bet in bitcoin:
- Create an account on a reputable bitcoin exchange available in your country.
- Buy bitcoin using the available payment methods.
- Transfer the coins to an external wallet if you prefer.
- Create an account on a reputable crypto gambling site, like .
- Deposit your crypto in your account. Ensure that you have deposited enough funds to play several games. You can do this by checking the minimum amounts that the platform requires for your favorite games.
- Open your preferred game and place a bet.
- If you win, you will receive a reward that you can withdraw in bitcoin or any other accepted cryptocurrency.
1xBet: The Best Crypto Gambling Site
1xBet is a market-leading crypto gambling site that offers a wide range of online casino games and sportsbooks and supports more than 20 cryptocurrencies.
1xBet users can bet on live casino games, sports, eSports, lotteries, slots, and more. Registration is free and easy, and new users have the chance to earn up to 100% by following these instructions.
Below are three popular casino games on 1xBet that you should consider playing.