Bitcoin casinos have been very successful since their inception a few years ago. However, it was the Covid 19 pandemic that helped them move into high gear. Traditional casinos, such as the one in Macau, struggled to maintain revenue despite strict restrictions imposed by governments worldwide. Those restrictions made the past two years extremely profitable for all online casinos, including bitcoins, as that was the only access to gambling for many people.
Of course, that’s not to say that online and bitcoin casinos weren’t popular even before the pandemic. The global online gambling industry was worth $61.5 billion in 2021. That number is expected to nearly double to $114.4 billion by the year 2028. While it’s difficult, if not impossible, to determine how much of that staggering amount of money can be attributed to bitcoin casinos alone, you can bet it’s worth it. is a significant part.
The popularity of bitcoin casinos does have a major drawback. With so much money in circulation, the industry attracts a large number of scammers who try to scam people. It is often difficult to distinguish between legitimate bitcoin casinos and fraudulent casinos. Choosing the best bitcoin casino in 2022 is proving to be a challenge and hopefully this guide will help you through the process.
How To Choose The Best Bitcoin Casino In 2022 – Overview
How do Bitcoin Casinos work?
Checking Regulatory Compliance
Check the reputation of Bitcoin Casino
Check Bonuses
View the games
Check Customer Support
Conclusion
How do Bitcoin casinos work?
Before we get to the criteria for choosing the best bitcoin casinos, let’s learn a few things about them. Bitcoin was first used in an online casino in 2012. Shortly after, IFG, one of the leading developers of casino games, obtained a patent that allowed users to play their slots with bitcoin. The idea proved popular and today, a decade later after its first use, more than a third of all online casinos — and a large number of land-based casinos — accept bitcoin and other cryptocurrencies.
There is not much difference in how bitcoin casinos work compared to regular online casinos except the way you make a deposit. Bitcoin casinos let you do it with cryptocurrency, so you can use your bitcoin, Ethereum or other digital coins to do it. Most bitcoin casinos also accept more traditional forms of payment, such as bank transfers or credit and debit card payments, but some do not. There are a small number of online gambling platforms that deal exclusively in bitcoin and altcoins. If you plan to play with both bitcoin and fiat currencies, it’s a good idea to check if a casino accepts them before creating an account.
Checking Regulatory Compliance
Despite what some people believe, the world of online gambling is heavily regulated in most countries. Different government regulatory bodies around the world check various factors before licensing an online casino. Issues such as suitability of owners and executives, fairness of games, accountability, prevention of underage gambling, complaint handling procedures and various others will be closely examined and a license will be issued or denied based on the results. Bitcoin casinos have to deal with the same procedures and are also subject to regular checks and inspections.
Usually, online casinos are required to prominently display regulatory compliance information on their sites, such as the license number and the name of the agency that issued it. This should be the first thing to watch out for. Lacking such information is a huge red flag and we recommend staying away from that casino. You can use the license number to check the legal status of the casino on the site of the regularity office. If everything is OK, continue to the next step.
Check the reputation of Bitcoin Casino
Unfortunately, even fully compliant casinos can sometimes engage in shady practices on this side of the law. In your search for the best bitcoin casino 2022, you will probably come across one or two such establishments. The best way to spot them is to spend some time reading online reviews.
When reading online reviews, it is important to distinguish between real complaints and fake complaints. For example, if a player accuses the casino of fixing games and citing that he is incapable of winning, chances are he was just unlucky. As we mentioned, fairness of the game is one of the things that is regularly checked and the chances of a casino risking its license by fixing games is miniscule.
On the other hand, if you see multiple users complaining about the inability to withdraw funds, you should pay attention. This is a common trick used by unscrupulous online casinos, who use them to delay payments as much as possible. They don’t break any laws as they don’t outright refuse to give you your money but impose ridiculous wait times that can be very frustrating. Unless you enjoy jumping through hoops for your own hard-earned money, stay away from them.
Check Bonuses
Competition in online gambling is fierce and bitcoin casinos fight tooth and nail for every player. One of the best ways they’ve come to attract new ones and keep old ones is by offering generous bonuses. There are different types of online casino bonuses and you should compare them to see which casino offers the best.
Almost all bitcoin casinos will offer a welcome bonus to new players. It is usually in the form of cash, but many will throw in free spins or another freebie as well. Next up is a matching bonus, which is given to players when they make their deposits. Usually the casino will match your first deposit up to a certain amount. Some even offer partial matching for every deposit you make, to reward players and inspire loyalty.
To prevent players from simply taking a bonus and walking away, bitcoin casinos have come up with a concept called wagering requirements. This tells you how much you need to wager before you can withdraw your money. For example, if a $100 bonus comes with x10 wagering requirements, that means you have to wager a total value of $1,000 before you can withdraw your money. This is why some more experienced players choose to stay away from them and use their money only for playing. Checking the wagering requirements is a must before deciding to take the bonus.
View the games
Even the best bitcoin casino will not be very good for you if it lacks your favorite games. Some bitcoin casinos only have a limited number of game titles, due to various copyright and licensing issues. Even if you like those games, it’s always good to have a choice, in case you get bored of them later. That’s why we always recommend checking the list of games that a casino offers to its players before signing up.
Make sure to check all the game categories that are important to you such as slots, table games, live casino games and others. This way you can be sure that there is always something interesting to play and you don’t have to spend all your time looking for something fun to spend on. That way you can avoid going through the process again to find the best bitcoin casino, create an account and make a deposit in a new one. Chances are you’ll just find something else to do with your time.
Check Customer Support
Customer support is one of those things that we usually don’t pay much attention to until we need it, and then it can be too late. There’s a pretty good chance you’ll come out of hell with customer support that’s either unreachable or completely interested in solving your problem. To avoid that, check online reviews from people who have dealt with it firsthand. There are several things to keep in mind, such as means of communication, response times, and the overall success of the interaction.
Conclusion
Choosing the best bitcoin casino in 2022 can be a lengthy process, but you have to approach it carefully. After all, you give your money to these people and you want to make sure they are on the same level. Signing up for a new bitcoin casino can be tedious and you want to get it right the first time.
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