Bitcoin and online games are an (almost) perfect combination! There are many advantages to using Bitcoins for betting; transactions are fast and anonymous, there are no chargebacks, and you don’t even have to worry about taxes. In addition, since Bitcoin is not an official currency, it is legal to bet with it, wherever you are. However, Bitcoin online casino also has their drawbacks – notably the lack of regulation, as their creation does not require any legal gambling license. By placing your pennies in the wrong casinos, you run the risk of never seeing them again.
Fortunately, betting with Bitcoins and other cryptocurrencies is becoming more and more prevalent, allowing user reviews to emerge. However, even these online reviews are not always completely reliable. Many “professional bloggers” leave a positive review about a casino in exchange for compensation. That is why I decided to create this site – I am a betting fan myself, and I can’t stand when garbage posts fake comments just to make a few bucks. The comments on this site are based 100% on the personal experiences of my readers.
What is the best Bitcoin casino site for European players?
Every bitcoin casino I know accepts players from any location, including Europe. In fact, most online casinos do not ask for your address or name. This is what makes Bitcoin and other cryptocurrencies so attractive. It is an unregulated currency with a high level of anonymity, although it should be remembered that Bitcoin is not automatically anonymous and this remains your responsibility. Visit the Bitcoin Wiki for more information.
Is Betting With Bitcoin Really Legal?
Each legislation has its own rules, and this site does not offer legal advice. Bitcoin is relatively new, and since it is not an official currency, betting with it can be compared to any other virtual currency, such as currency on currency on World Of Warcraft. In addition, thanks to the level of anonymity of betting with cryptocurrency, legality shouldn’t be an issue, because even if that should become illegal, getting caught would be difficult.
Do you really prefer to bet with Bitcoin?
Absolutely. Here are at least 5 reasons why Bitcoin is great for betting:
5 Reasons to Favor Bitcoin Games
Bitcoin casinos are a relatively new phenomenon, but they are fast becoming the preferred place to gamble online. Why are so many players switching to Bitcoin?
1. Speed
It is not uncommon to wait days or weeks for payment from an online casino. Sometimes payments arrive with delays of several months. Often, this is not the casino’s fault itself, as your bank is not responsible for online casino transactions. In addition, their payment methods are often victims of credit card fraud; they are often forced to take precautions with your money.
Bitcoin payments are virtually irreversible after a short period, so the bitcoin casino will credit your account as soon as you deposit, and send your winnings to your wallet, as soon as you choose to cash out. The difference is in the speed!
2. Anonymity
Bitcoin gives you the option of remaining completely anonymous when playing online. On the contrary, when playing elsewhere, be prepared to give out your name, address, credit card data and other personal information like your social security number. At most Bitcoin casinos, they don’t even need an email address.
3. Accuracy
How can you be sure that the game is fair, especially when the dealer always seems to have good cards? Bitcoin encryption innovations inspired the concept of Provably Fair (see below), introduced by Bitzino in 2012 and has since been adopted by all major Bitcoin casinos.
We wrote a more detailed explanation, but in short, this system uses cryptographic hashes to “cut” the deck before playing the game, so neither the casino nor the player knows the order to advance.
It guarantees the fair play of the game.
4. Value
Bitcoin casinos save on credit card fees and, thanks to publicly displayed impartiality, do not need to use third parties to certify their games, saving certification fees. Often times, these savings are redistributed to the player in the form of better odds, more generous promotions or welcome programs.
In addition, a barrier to entry means more choice and more innovative games for the player.
5. Transparency
The opening of the Blockchain affects all existing businesses. Many people believe in a new era of Bitcoin transparency in business, and bitcoin casinos are no exception to this belief.
Provably Fair
If you have ever played at an online casino then you know how difficult it is to win. “I think this site is cheating” is probably a statement you’ve written on several occasions before. You are not the only one. A lot of online casino players think the same. This is a completely logical thought, considering that the online maps seem to be magically shuffled and players don’t have access to the full deck.
This is a problem that the Provably Fair platform was finally able to resolve. With an estimated inception date of early 2010, the method now known as Provably Fair was designed to provide proof that online casinos are impartial. With this particular proof of fair play, being one of the most popular platforms in Bitcoin casinos these days, it is no longer necessary to wonder if a casino is manipulating the outcome in any way.
What is Provably Fair?
The best way to define Provably Fair is as a method that allows players to not only immediately verify the authenticity of games, but also do so independently. Every game the player plays is absolutely fair, and if a player wants to verify this, he or she can do so by clicking on the ‘Provably Fair’ button. After entering the necessary information, the verifiable proof will then be made available to the player.
In other simpler words, Provably Fair is used in the Bitcoin gaming industry and is the only possible method to ensure that no one can cheat – neither the online gaming platform nor the player. One can, therefore, already safely predict that this will become the norm for all casino sites; which makes it the future of online gaming.
How does this verification method work?
Basically, the Provably Fair casino uses a feature called a cryptographic hash. This is known as the SHA256 algorithm. The approach is implemented to ensure that neither they nor the player can ever know how a game will be shuffled until it has been processed.
In order for you to understand this verification method and to prove that the online casino is playing fair, the steps are outlined and explained briefly below. These are the steps taken before a hand is dealt.
- Online casino servers create new decks and shuffle them using hardware random number generators.
- In addition to the random number generator material, the servers will also be developed with other random series. The two strings of numbers are then combined to make a single encoded string. The result is therefore called the ‘secret’.
- Last but not least, the secret is then hashed through the use of one of the SHA256 algorithmic hash paths. The result of the hash is then called a ‘hash’. The value will then be displayed to the player just before the hand is dealt. The player can then verify that the decks, other random series, or the secret have not been manipulated by the online game portal.
Provably Fair online gambling sites also allow players to Cut the Bridge
Aside from Provably Fair online gambling sites that allow their players to verify that they are not making any illegal moves, they also allow players to cut the bridges themselves. According to them, this is something they are doing in order to “be really fair.”
So how does this part work?
Before a hand is dealt, JavaScript in the player’s web browser creates a random string. Once the player hits the button for betting, their browser then sends the generated string to the online casino servers, which will then be hashed once more.
Basically the process is similar to how part checking works, except the hash here, will be used to seed some other type of number generator. When cutting the deck, the pseudo-random number generator used is Mersenne Twister, and it is also the one used to reshuffle the cards. As the player is the only one who knows the number that was used to initialize the number generator, there is no way for the online gaming platform to manipulate the results.
Provably Fair isn’t just for card games
Another impressive feature that this new method has is the fact that it also works for games without cards. The same kind of approach is used. The main difference is that another deck of cards is used by the Provably Fair site.
If you are wondering what other games can be ‘Provably Fair’, there are a number of them. Roulette, Craps, and Slots are some of the games where players can prove that the casino is not doing anything to manipulate them so that the results are in favor of it.
Conclusions
As you can already see, Bitcoin Casinos with Provably Fair is definitely the future of online gambling, with all the perks and type of security it can give either to the player or to Bitcoin online casino sites. You don’t have to be tech-savvy to get the most out of this method, as players just need to click the button, enter a few details, and find out if the online gaming portal is turning the odds in their favor, or not. At the same time, web casinos can also ensure that they are not cheated by unscrupulous players and cheaters.