How Do Bitcoin Casinos Work? A Look at Decentralized Gambling

Online gambling has always been popular. Now, though, the industry has started to change and evolve. Instead of betting real money, lots of gamblers have started using Bitcoin instead — and it’s very exciting. Specifically, they’re using Bitcoin casinos to do this, with 7Bit Casino and Stake being the crowd favorites. This particular type of gambling has become so popular that it’s now believed that 60% of all Bitcoin transactions are gambling-related, which wasn’t the case ten years ago. But what would make people want to ditch traditional money for Bitcoin? And how do Bitcoin casinos actually work?

If you’ve yet to give Bitcoin casinos a try and are scratching your head wondering what they’re all about, you’re not alone. From the outside, Bitcoin casinos can seem a little confusing, particularly for people who’ve never gambled before. The good news, though, is that they’re actually a piece of cake and (in many cases) are easier to use than traditional casinos. Whew.

With that said, it’s time to do a deep dive into Bitcoin casinos and the world of decentralized gambling. By the end, you’ll be ready to start making some big moves with your Bitcoin, whether it’s playing online slots or hitting up the roulette tables.

How Do Bitcoin Casinos Work?

Bitcoin casinos work like this:

➡️ Create an account

➡️ Confirm your identity

➡️ Transfer your desired amount of Bitcoin to the wallet address provided by the casino

➡️ Wait for the Bitcoin to arrive in your casino account

➡️ Start playing casino games

See, it’s easy. Then, whenever you win some Bitcoin, you can request it to be withdrawn to your personal crypto wallet or exchange. In a nutshell, that’s how the process works.

When it comes to actual online casinos that accept Bitcoin, you need to either join a legit Bitcoin casino or a sweepstakes casino, which are the two most popular options. Recently, according to industry leaders sweepstake-casinos, Bitcoin casino operators are now facing some stiff competition from sweepstakes casinos, who are offering a more social gaming experience. When you join a sweepstakes casino, you deposit Bitcoin in exchange for ‘Sweeps Coins,’ which can then be used to win prizes like merchandise and gift cards. Naturally, this appeals a lot to Bitcoin owners, which is why many of them have started using sweep casinos over the past year.

Whether you decide to join a Bitcoin casino or sweepstakes casino, you’ll need to be above the legal gambling age. At the same time, you’ll also need to invest in Bitcoin; otherwise, you won’t have any coins to use. For the people who don’t know how to invest in Bitcoin, it’s surprisingly easy, as all you have to do is purchase it from a reliable exchange like Coinbase or Binance. For example, if you exchanged $100, this would get you 0.0016BTC in return. The 0.0016BTC you have could then be deposited into your chosen Bitcoin casino, and you would also have the option to withdraw it at any time.

Why Decentralized Gambling is a Game-Changer

Decentralized gambling is a new and exciting way for people to gamble online. From websites to apps, it offers people the opportunity to gamble using cryptocurrencies, which are decentralized and not controlled by any government authority. What this means is that you (the player) have full control over the crypto you’re using, and nobody can take it away from you. At the same time, decentralized gambling also allows players to remain anonymous, as the crypto transactions across Bitcoin casinos and other similar sites aren’t attached to real-life names.

Knowing this, if you’re someone who wants full control over your funds while remaining completely anonymous at the same time, decentralized gambling and Bitcoin casinos will definitely appeal to you. This is ultimately why many industry experts believe that decentralized gambling is a true game-changer and will be the future of online gambling. Instead of using traditional money like USD and GBP, gamblers will place bets using cryptocurrencies via blockchain technology, enabling them to have a fun, secure, and private gambling experience.

The Many Pros of Bitcoin Casinos (And How to Get Started)

So, we now know that decentralized gambling allows us to have full control of our assets (e.g., Bitcoin) while also remaining anonymous when gambling online — but what are the other pros you can expect from playing inside Bitcoin casinos? Here are just some of them:

✅ Faster deposits and withdrawals

✅ Global accessibility (Bitcoin casinos are available pretty much everywhere)

✅ Excellent security

Not to mention, Bitcoin casinos provide you with a legitimate way to put your Bitcoin to good use. Most of the time, people tend to invest in Bitcoin and hold onto it while it increases in value, which is (of course) a good strategy. However, it’s also good to use Bitcoin for some fun, too, which is why taking a small amount of Bitcoin you’ve invested in and using it to play some casino games is a fun idea — especially when you consider the fact that it’s possible to win Bitcoin back when playing the different games on offer.

In terms of the best Bitcoin casinos on offer, some reliable options include Betplay, Metawin, and Jackbit. Remember, you can also use sweepstakes casinos, which are fast becoming the more popular option. At this moment in time, some of the most popular sweepstakes casinos that accept Bitcoin include Stake, Sweeptastic, and Fortune Coins.

Bitcoin Casinos: Summary and Final Thoughts

Are Bitcoin casinos for everyone? No. After all, some people don’t like to gamble at all, which is completely fine. Having said this, if you’re a Bitcoin investor who enjoys playing popular games like video poker, slots, and blackjack, then you’ll definitely want to give them a try, with most crypto-friendly casinos now having millions of combined worldwide users. Once you get the hang of the deposits and withdrawals process, which will involve you transferring Bitcoin from your personal wallet to your casino account, everything after that is a breeze. So, have fun, gamble responsibly, and only bet Bitcoin that you can comfortably afford to lose.