Finding a place to gamble online in the US is far from easy. Online casino gambling is legal only in six states, and even there, the casinos are forced to adhere to strict rules. The purpose of these regulations is to make it harder to move the money in and out of casinos. These measures when it comes to gambling with bitcoin help battle financial and addiction issues that usually follow casino operations.
Cryptocurrency Casinos are Booming
However, Bitcoin and other cryptocurrencies are offering a way around these rules with Bitcoin Casinos USA. Cryptocurrency casinos are in the midst of a major boom, mainly thanks to the opportunity to freely operate and advertise. Plenty of sites, based outside the US soil, offer their customers a chance to quickly engage in gambling, often with just a few checks on the member’s background.
So far, the government hasn’t paid much attention to the crypto gambling boom. However, with the fast-growing popularity, this may change. Currently, there are 70 crypto-friendly casinos in operation. The total amount of money they’ve received so far this year is estimated at around $2.8 billion. Last year, they managed to pull in a whopping $10 billion, even though crypto gambling is not technically legal in any of the US states.
Lack of Oversight for Crypto Gambling
American Gaming Association’s VP of government relations, Alex Costello, recently commented on how difficult it is for the regulators to go after these operations. He added that the gaming industry is highly regulated for good reasons, in order to prevent money laundering and ensure responsible gambling. However, due to the decentralized nature and the sheer number of these casinos, the cryptocurrency gambling with bitcoin segment is very hard to keep under control.
Overall, online gaming is on the rise throughout the United States, So far, 22 states, plus Washington DC have legalized online sports betting. Also, plenty of Americans do their gambling in online casinos based outside of the US. Federal laws require overseas-based casinos to register in each state they operate in. Furthermore, they must verify players’ physical location and take deposits only through bank transfers or debit cards. This is a necessity in the battle against money laundering.
Restrictions For Crypto Casinos
Still, crypto casinos mostly operate without these restrictions. The Crypto space is growing fast and more and more mainstream companies are investing in Bitcoin, ether, and other digital coins. Recent studies have shown that 20% of US citizens have invested in cryptocurrencies. This also resulted in the rise of crypto gambling. The appeal of these casinos is that they also accept cryptocurrencies in addition to traditional payment methods.
More On Gambling With Bitcoin
Indeed, Another major issue with cryptocurrency casinos is the lack of playing prevention mechanisms. In most mainstream casinos, people who struggle with gambling can apply for addiction-mitigation features. Among other things, these features include the ability to ban yourself from further gaming. However, with most crypto casinos, customers don’t have the option of preemptively banning themselves from the platform. And with how easy it is to register and deposit funds in these casinos for gambling with bitcoin, this can be a real issue for recovering addicts.
About The Best Bitcoin Gambling Sites
When Satoshi Nakamoto released Bitcoin in 2009, some clever individuals began experimenting with it for BTC online gambling right away. Bitcoin and other cryptocurrency prices have recently hit record highs over $60,000, and many people are using them to gamble online. If you want more Bitcoin themed slot machines, give Satoshi’s Secret and Coin Rush a try.
Using Crypto And Bitcoin For Gambling
In order to gamble with crypto, you will need to first buy some coins or tokens from an exchange. Bitcoin is the most popular choice for crypto gambling, but some online casinos also accept other cryptocurrencies such as Ethereum, Bitcoin Cash, Litecoin, or Dogecoin.
To buy Bitcoin, you will need to create an account with an exchange. This is where you can buy Bitcoin with regular currency like US dollars. Then, you can use this Bitcoin to gamble on your favorite crypto gambling site!
We explain how to buy Bitcoin in our ‘How to Buy Bitcoin’ guide.
If you need help, you can look at some of the casinos we are going to look at here. Some of these casinos also allow you to buy crypto with a debit or credit card, instead of purchase crypto on an exchange and transferring it over.
However, many cryptocurrency gambling sites will ask you to deposit cryptocurrency into your casino wallet before you can play, so it’s a good idea to get familiar with it first!
When you’re gambling with Bitcoin, you usually will not be betting whole Bitcoins. Most Bitcoin gambling sites will let you place bets in milli-bitcoins, which is 0.001 Bitcoins. This is a lower denomination of Bitcoin that is used for gambling purposes.
Top Bitcoin Gambling Sites
So, you’ve decided to gamble with Bitcoin and other cryptocurrencies, and you’ve obtained your crypto ready to go. But how do you select the greatest bitcoin casino? Take a look at our top selections in the table below or scroll down for a more thorough assessment of each site.
If you want to sign up for an online casino site that offers sports betting, you may want to look at these crypto gambling sites. When it comes to the best bitcoin casino sites, you can use Ethereum, Litecoin, Bitcoins and Bitcoin Cash plus more cryptos at these bitcoin casinos.
There are many things you should keep in mind when you are choosing a gambling site. Different sites have different games, different currencies, and accept players from different places.Be sure you pay attention to these important features when you are choosing a site.
When choosing a Bitcoin gambling site, it is important to consider the different games that are offered. Not all sites will have the same games, as each casino works with different game providers. This means that some sites will have more types of certain games, such as slots. So, choose a provider that offers plenty of your favorite game type.
When choosing a crypto casino, make sure that the site supports deposits in the cryptocurrency you want to use. Some casinos only accept Bitcoin, while others also accept traditional payments.
Is the Bitcoin casino you are sending your cryptocurrency to safe? Some of the lesser known casinos might not have quality security, and you can be putting your funds at risk. The online casino’s we list are all trusted and transparent.
