Crypto gambling is heating up! People around the world are realizing that gambling at online casinos while using bitcoin and other cryptocurrencies is a funner, faster, better way to get their adrenaline fix.
So how can you take advantage and be part of this growing trend? How can you gamble like a pro?
If you’ve been in the gambling scene for a while then you probably have a favorite site. Perhaps they offer great VIP perks or they have solid customer service, or anything else. Why switch to a bitcoin casino?
Or perhaps you’re new to the gambling online scene. You have a few hours to yourself now that most casinos have closed due to Covid. Should you check out a bitcoin casino and take advantage of this growing trend?
- Why a Bitcoin Casino will help you gamble like a pro.
Gambling like a pro is about winning more times than you lose, right? It’s not about always winning, that’s impossible, but simply about winning more often than you lose. It’s the same principle as making money from Forex trading. You try to win more trades than you lose.
The best Bitcoin casinos make sure to help you win by being provably fair.
What is provably fair?
“In a provably fair gambling system, … The service operator will publish a method for verifying each transaction in the game. This is usually by using open source algorithms for random seed generation, hashing, and for the random number generator. Once a game has been played, the player can use these algorithms to test the game’s response to his in-game decisions and evaluate the outcome by only using the published algorithms, the seeds, hashes, and the events which transpired during the game.”
In short, a provably fair bitcoin casino will let you see the mathematical outcome in the game you played. You can check/prove that the game was fair to you. Of course the house will always have a slight advantage, but at least they won’t be ripping everyone off.
- How to gamble like a pro at a Bitcoin Casino
Once you’ve determined that you’d like to give gambling with Bitcoin a shot, there’s a few things to look for before signing up for a bitcoin casino.
- Do they accept players from your country?
Some bitcoin casinos, just like regular online casinos, only accept residents from certain countries. Make sure you’re on that list!
- Are they provably fair?
- Which cryptocurrencies do they accept?
Bitcoin casinos will all accept Bitcoin — it’s the king of crypto for a reason. But how about other cryptocurrencies? Gambling like a pro in a bitcoin casino also means knowing when to cash out — and if another crypto helps you cash out faster or easier and therefore keep your winnings, then maybe consider this as a solid point for that particular bitcoin casino.
3) How to actually place bets with Bitcoin
To place bets with bitcoin you’ll need bitcoin. How do you get it? Well, there are plenty of solid exchanges out there which let you change your local fiat into crypto. But if you want to have full financial privacy and control of your winnings, then you should look at buying crypto from anonymous sources such as peer-to-peer. Either way, this is what you do:
- Buy BTC or another crypto.
- Sign up for a bitcoin casino and get your deposit address.
- Send however much BTC you’d like to gamble with to that deposit address.
- Have fun!
- Withdraw your winnings back to your BTC address or any new wallet you may have
- Spend your winnings!
There you have it. A short but impactful look at how to gamble like a pro at a bitcoin casino: make sure your country is accepted, check that the site’s games are provably fair, buy BTC, deposit it, enjoy!