Bitcoin Should Be the New Cash in Casinos

Bitcoin Should Be the New Cash in Casinos
Tamara T.
By Tamara T.
Crypto Expert
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Updated Sep 14, 2022
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Read time 8 min
Bitcoin Should Be the New Cash in Casinos

Online casinos have increased in popularity, and many of them have already accepted Bitcoin for regular transactions. Despite the parallel acceptance of fiat currencies, both land-based and online venues have started to adopt BTC as the new solution. 

Cryptocurrency is the perfect choice for gambling platforms, as it eliminates the need for intermediaries who impose commissions on different transactions. The introduction of Bitcoin in online casinos also keeps your money safe while ensuring anonymous transfers. It slowly becomes an irreplaceable option with the goal to become the new cash. 

What Are Online Casinos with Bitcoin

Online casinos that payout in bitcoin are widely-popular gambling sites where you can use Bitcoin for both deposits and withdrawals. They work in the same way as their fiat money counterparts, allowing customers to load their accounts easily. With the progress in technology solutions, Bitcoin casinos have become the newest trend. This is mainly because of their decentralized nature, security, and anonymity. 

Bitcoin was the first cryptocurrency to conquer the world back in 2009 by anonymous founder Satoshi Nakamoto. Since then, BTC has become the most used option in the world, which inspired the creation of alternative crypto solutions.  

The main difference from fiat currencies is that Bitcoin uses a decentralized ledger called a blockchain. It is also based on peer-to-peer technology without including central banks and other authorities. Bitcoin management and issuance of new tokens are done collectively by the entire network, which creates additional security.  Many of these features could become a reason to see BTC as the new cash at online casinos.

Pros of Using Bitcoin in Online Casinos

Bitcoin online casinos come with multiple benefits. However, the most essential advantages of using BTC for gambling transactions are available below:

  • Bonuses and Promotions: Online casinos allow players to claim different bonuses and promotions if using Bitcoin as a payment method. Your first transfer in BTC could open the opportunity for a wide range of offers such as a welcome bonus, a reload bonus, a deposit bonus, a loyalty bonus, free spins, and more. It makes players even more enticed to use bitcoin in casinos.
  • Global Acceptance: Bitcoin is widely accepted as a method for deposits and withdrawals. While using the option on gambling sites, you don’t risk suffering any legal issues. All transactions remain on the blockchain, and your funds cannot be blocked or frozen.
  • Game Variety: Casinos in Vegas that take bitcoin stand out with a selection of gaming opportunities. This means you can get started with different games such as blackjack, baccarat, roulette, slots, keno, craps, and similar. Various gambling options make your experience even more attractive and prolong the time spent on popular sites.
  • Not Subject to Inflation and Taxes: When you use Bitcoin for betting transfers, you can rest assured that your funds won’t be affected by economic factors. What’s more important, you can enjoy free transactions without additional charges. 

Why Bitcoin Should Be the New Cash at Online Casinos

Apart from providing different benefits to its customers, many other reasons favor Bitcoin to become the new cash at online casinos. 

  • Ease of use: Bitcoin is simple to use and makes smooth transactions. It is also a convenient option and instantaneous deposit method, so casino customers don’t have to wait long for their funds. Instant deposit time and simplicity make Bitcoin attractive to both gambling businesses and users.
  • Security: The introduction of cryptocurrency has resulted in increased security of players and their funds. Hackers can no longer intercept your transactions by stealing your card information. Blockchain, a ledger on which blockchain operates, keeps your security even higher.
  • Decentralization: Bitcoin transactions are anonymous, allowing players worldwide to access their favorite games without sharing their personal details with third parties. This means you can spend hours per day while gambling on preferred options and keep it away from prying eyes. 
  • Instant Withdrawals: Your transfers are immediately processed when you deposit and withdraw with Bitcoin. BTC has eliminated considerable waiting times connected with the use of fiat currencies. This is another reason that supports bitcoin in becoming the new cash at casinos.

Bitcoin and Cashless Casinos

Recent improvements in technology and the online sector have led to the adoption of new methods of payments. Industries worldwide are slowly embracing cashless payments, and casinos are no exception. Conversely, online casinos are in the best position to start accepting cryptocurrencies such as bitcoin.

The pandemic has sped up the transition from physical to digital transactions. Only in 2020, the American Gaming Association issued a report urging for faster adoption of cashless systems in casinos and gaming venues.

If you intend to use bitcoin in online casinos, you will want to know how the whole system works. Cashless casinos utilize technology as a tool of player engagement whilst also providing better protection for customers. Players are accredited a Bitcoin wallet in USD or other currencies, reducing the need to use real cash at casinos.

The requirement for cashless payment is the same both for online and land-based venues. Let’s imagine the situation when the high roller enters the casino’s floor, aiming to invest a massive amount on favorite games. A bitcoin-optimized casino would allow a gambler to transfer his funds from the bank account to a BTC wallet. This would be possible with the transaction from his wallet to the online casino table’s wallet by using a QR code. Next, a player would receive chips and start the gambling experience.

If a player earns anything while playing at the venues, winnings will be directly processed to the same wallet, and all other transactions will work similarly. Players could then convert the digital money into fiat currency and transfer it to bank accounts. 

As you can see, Bitcoin has slowly become an invaluable solution for payments to and from online casinos. Its benefits prevail and make both businesses and customers interested in using the option and taking advantage of efficient and smooth transfers. 

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Tamara T.
Tamara T.
Crypto Expert

Tamara is an entrepreneur and content specialist. She is passionate about gambling and cryptocurrency world, having worked on different casino and crypto writing projects. Tamara is also interested in legislation, investments, and DeFi.