The Benefits Of Gambling With Bitcoin Over Traditional Online Casinos

The Benefits Of Gambling With Bitcoin Over Traditional Online Casinos

It’s funny that we can already call online casinos “traditional”, but we can! According to Wikipedia, the first online casino was started 20 years ago, in 1994. Since then, many things have changed in this industry. And things are about to change again.

As bitcoin has gotten mainstream attention and grown in popularity, numerous bitcoin-only casinos have started popping up. But these aren’t just opportunistic money-hungry businessmen starting up gimmicky online gambling operations. There are actually many benefits to bitcoin-only casinos over their traditional counterparts.

One of the most off-putting things about real money casinos is the massive hassle of withdrawing your winnings. You will often be asked to prove your identity, and this can only be done by sending the casino a copy of your official government IDs. If, and only if you chose a reputable casino, you will then have to wait several hours, often days, for a casino representative to approve your wtihdrawal. If you chose a bad quality casino, you will be asked to send over a “clearer” scan of your passport, and the casino will do everything in their power to stall having to pay out. Even if the casinos wanted to pay you quickly, they couldn’t do it because their license requires them to manually confirm each withdrawal in order to prevent money laundering.

But in bitcoin casinos, none of this is necessary. Bitcoin casinos, most of them anyway, don’t require any documents from you. In fact, they often don’t even ask for your real name. In addition to that, deposits and withdrawals are almost instant. Even in casinos that require operator approval for withdrawals, there’s never a fear of having to prove your identity. And if you choose a high quality casino, the withdrawals will be instant and automated every time!

The benefits of bitcoin gambling don’t stop there though. In the beginning, many people were sceptical about depositing their coins into seemingly random, unregulated bitcoin casinos. This forced the operators to come up with a solution that ended up changing the outlook of online gambling completely. “Provably Fair” technology was coined to prove the fairness of otherwise unregulated bitcoin-based casino games. In layman’s terms, the fairness of casino games can be proven by looking at the blockchain, since every single bitcoin transaction can be traced. This means that the randomness of the casino games can be accurately confirmed! Technology like this is only possible with bitcoin and other cryptocurrency, meaning that suddenly the bitcoin casinos that used to seem dodgy have become some of the most reliable online gambling websites currently online! Add the ease of moving money around, and some other benefits I haven’t even gone into, and one thing seems clear; The future of gambling is in cryptocurrency. The only thing stopping it right now is awareness.

Comments are closed.