As you may very well know, Bitcoin has many uses from tipping people to even paying bills and buying things like laptops and even houses- but did you know that you can use Bitcoin to gamble as well? Bitcoin gambling has been around for a very long time- in fact, almost as long as the coin has been actively traded. If you're interested in gambling with bitcoins and want to find an ideal bitcoin casino, this guide is what you'll want to read.
First off, you'll need to get some bitcoin- we recommend you buy some off of a trusted exchange like Coinbase if needed- if you're just testing this out, there is no need to have any bitcoin at all as most casinos have faucets where you can get free bitcoins. Next, you'll need to find a good gambling site that fits your criteria and has good rates and policies- although it may sometimes be difficult to find casinos to gamble on, thre are plenty to find on even sites like bitcointalk- just go to this link https://bitcointalk.org/index.php?board=56.0 and you'll find a wide assortment of sites from which you can pick out the few you want to play on. Unfortunately, there are lots of scam casinos and ones that don't have the best policies and rates, so we've provided a short checklist for you to follow to see if a casino is legit and pays out.
- Do lots of people use the site? If a casino is new or not very many people seem to be on it, chances are it was made to scam or has a very small prize pool, both of which are bad.
- What is the minimum withdrawal amount? Some casinos have very high minimum withdrawal amounts, and if you deposit too little bitcoin you may not be able to get it out.
- How much do you need to gamble to get X bitcoins out? Some sites prevent people from withdrawing bitcoin by making users bet a set amount of their bitcoins before they can withdraw- this can be anywhere from 25% of their balance to 100%. This is one of the most important things when trying to find a good casino as some sites are essentially a trap for bitcoin.
- How big is the house edge? House edge is naturally present in all casinos as it ensures the casino makes money over time. You will want a casino with as little house edge as possible- too high, and you'll lose more on average than a casino with a lower house edge. Keep in mind that when a house edge is present, the casino is guaranteed to make a profit in the long run (theoretically).
- How active is the support? To test this out, simply send an email to support and see how long it takes for the site to respond. This is important as you will want to solve any issues you have as soon as possible- some casinos have very slow and poor support and it could take you days to get your bitcoins back if the support is inactive.
Thanks for reading this guide, we hope this will help you find a good casino and we wish you good luck on your gambling journey! If you liked this guide, follow us and share it with your friends- we'll have similar content coming up in just a few days!