Bitcoin Gambling: How to Bet & Win Big with Crypto in 2021
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
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What Is Bitcoin Gambling?
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Why Is Bitcoin Gambling So Popular?
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Is Bitcoin Gambling Legal?
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How to Purchase & Use Bitcoin for Online Gambling
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1xBit: 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 1xBit, 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.
1. 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.
2. 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.
3. 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.
4. 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.
5. 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 here 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:
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Create an account on a reputable bitcoin exchange available in your country.
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Buy bitcoin using the available payment methods.
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Transfer the coins to an external wallet if you prefer.
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Create an account on a reputable crypto gambling site, like 1xBit.
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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.
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Open your preferred game and place a bet.
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If you win, you will receive a reward that you can withdraw in bitcoin or any other accepted cryptocurrency.
Bitcoin gambling is that simple!
1xBit: The Best Crypto Gambling Site
1xBit is a market-leading crypto gambling site that offers a wide range of online casino games and sportsbooks and supports more than 20 cryptocurrencies.
1xBit 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 7BTC by following these instructions.
Below are three popular casino games on 1xBit that you should consider playing.
Roulette
Roulette is an adrenaline-inducing game that is easy to play. As the ball is moving around the wheel, you can bet on your lucky numbers, red or black, odd or even numbers, a column or group, and wait for the ball to stop spinning. If it lands on the number you placed a wager on, then you have won.
Roulette is a game of chance. If you are feeling lucky, this is the game for you. 1xBit streams its bitcoin roulette games live on your device.
Slots
Bitcoin slots are another exciting casino game you can play on 1xBit. All you need is to check the rules of the game, place your bet, and start playing.
For instance, Warlock’s Book is one of the popular slot games on 1xBit. Click the button on the left labeled “i” to learn the instructions of the game. Next, place your bet and spin.
1xBit offers a demo mode where you can try out the game before spending your money. You can also select a higher game level if you prefer.
Blackjack
Card lovers and strategists will enjoy the live blackjack games on 1xBit. The goal of the game is to beat the dealer by getting a count that is as close to 21 as possible.
If you can master the strategy of this thrilling game, chances are that you will win. This is an ideal way to earn crypto.
Blackjack also has demo mode on 1xBit where you can practice playing the game without spending your funds.
To start gambling and earning with crypto, register on 1xBit now.