When it comes to online gambling, there’s practically a solution for everything. Whether that solution includes playing on the go on your mobile, accessing a “real” life live experience of playing live dealer casino games or otherwise, the latest solution for the online gambling industry comes in the form of a new age payment method: Bitcoin casinos.
There are many Bitcoin casinos online today, each offering a quick and easy way to (almost) anonymously deposit your digital currency and play casino games and slots. However, whilst we want to point out that it is easy and groundbreaking, there are a few things we thought we ought to mention to make sure that you end up playing at the safest and best ones.
Most Bitcoin casinos (or “crypto casinos” if you’re looking to deposit other types of cryptocurrency such as Litecoin, Bitcoin Cash, Ethereum and Dogecoin) that exist are often licensed by the Curacao Gambling Commission. Whilst there’s nothing wrong with this type of gambling license, it does mean that UK players won’t be allowed to sign up and play there. UK customers need to find a Bitcoin casino which holds a gambling license issued by the UK Gambling Commission.
What we can tell you is that there are far fewer UK Bitcoin casinos which hold a UKGC license than there are Curacao ones. A casino which holds a UK Gambling license is generally considered a 'safer' casino than one with a Curacao license, as it is far more difficult for online casinos to obtain a UK license in the first place. This is because there are many legislative rules and obligational hoops to jump through. And this is the reason why you’ll find less direct UK Bitcoin casinos. But you can at least count on the ones you will find to be trusted and safe.
What this licensing and regulation means is greater protection for you, the customer. If you find yourself cheated in some way. (i.e. a casino not paying you your winnings) then you have a case that you can notify the commission about. Hopefully, you won’t ever have to experience that, but the idea is that if you do, you are protected by a regulated license.
Aside from gambling licenses, there are a couple of other things that we look out for when reviewing and making our minds up about the legitimacy of a Bitcoin casino. These include:
We have tried and tested a fair few Bitcoin casinos in our day, and below, you will find a list of the best ones that accept Bitcoins directly. This means you will be able to log in and transfer your Bitcoins to the casino.
We understand that choice is key, and you may have found some casinos you want to play at that don’t accept direct Bitcoin. But, as we said at the start of this article, there is a solution for everything! So, the solution is to deposit with Bitcoin when the casino doesn’t accept it directly. Use an eWallet such as Neteller or Skrill, which is accepted at almost all UK casinos. If you do this, then a whole world of new opportunities opens, and you’ll be able to choose from many more UK casinos and still use Bitcoin in some way.
- Instantly convert 40 fiat currencies to Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Litecoin, XLM, XRP & 0x
- Choose your deposit option. Click the “Upload” button in your account
- Choose your deposit amount
- Follow the simple onscreen steps to transfer from your Bitcoin wallet to your Skrill account. Most of the time you can use QR codes which make it simple.
- Wait for the payment to be processed and available in your Skrill account. Once processed, log into your chosen casinos and choose to deposit via Skrill.
It’s that simple. Whilst in this way you are restricted as you will need to withdraw your winnings back to Skrill (and not directly to your Bitcoin wallet), you still are able to use your Bitcoins to gamble, albeit you need to use a payment processor to do so. But this way does offer you to have access to a wider range of casinos, however, they aren’t strictly direct bitcoin casinos, so using Skrill is a workaround solution.
Using Bitcoin online has plenty of benefits. Did you know that you can buy gift cards with Bitcoin and spend them online? You can also buy flights and holidays, and we get the sense that it’s going to become even more popular to use Bitcoins online in years to come. So what are the benefits of Bitcoin gambling as opposed to using a Fiat currency and standard banking methods?
As briefly mentioned above, you can use a couple of eWallets to buy Bitcoins or other crypto-currencies if you feel safer doing it that way, or you can buy crypto-currencies directly from exchange companies such as Kraken.com, BitPay, Blockchain, CoinBase or Localbitcoins.com using credit cards, debit cards, and other types of mainstream forms of payments. You can also buy Bitcoins from people who own Bitcoin and wish to sell them as well.
Top Advice: As you know, the price of Bitcoin and all Crypto-currencies are volatile. We recommend that you always check the development of the BTC price over the previous 3 months to help you determine a good opportunity and time to buy.
Bitcoin gambling is perfectly legal within the UK. In fact, Bitcoin gambling has not been subjected to any kind of separate legislation as of yet, however, this could change over time. At the moment, Bitcoin is basically considered to be another type of payment method at gambling sites. We don’t doubt, however, that in the future, there will be some legislation that may come into place to regulate Bitcoin and add it into a legal jurisdiction. Until then, you can legally gamble with Bitcoin just like you would with regular fiat currency and payment methods.
Yes and no. If you are gambling at a UK Gambling Commission-licensed casino, then part of the licensee holder’s obligation is to “Know Your Customer” (KYC). You will be asked to supply proof of ID and verify your account. There’s no way around this if you are gambling at UK licensed casinos, Bitcoin or otherwise; every customer needs to do this process once at every casino site.
Bitcoin casinos outside the UK which operate on other gambling licenses, such as the aforementioned Curacao license don’t generally need to see your documents if you deposit and withdraw with Bitcoin, however, if you use a regular payment method like bank wire, they will ask you. We only feel that KYC helps contribute to a safer and regulated gambling environment, which does a good job of protecting UK gamblers, so it shouldn’t be seen as a negative thing.
The minimum amount that can be deposited usually depends on the casino. Most of the time, however, the minimum deposit is around 0.0001 BTC, but different units of measurement, such as mBTC, uBTC, and dBTC, can be used. We always recommend you fully check the terms and conditions at the Bitcoin casino you’re thinking of joining and playing at in order to learn more about their minimum deposit amounts and other important things.
Provably fair gambling is a method of verifying the integrity and reliability of the casino software. Thanks to Blockchain encryption, this can be checked with a hashed seed. What's more, all licensed casino sites are each 3rd party checked and audited to maintain their accuracy when it comes to fair gaming. Each casino is checked to ensure that their inbuilt RNG (random number generator), which is in the games that they license from game companies, matches a true probable outcome of a real-life slot or casino game. So, in other words, no rigged games.
You don’t need to know the intricacies of how Bitcoin technology works, but we do recommend you learn the basic principles of how to use Bitcoin so that you can use Bitcoin casino sites with the fullest confidence.
Basically, you need to have an understanding of the internet (which, at this stage, we’re sure you do!) as well as how online casinos work, and also how to use your Bitcoin wallet to upload and receive funds. If you don’t have a Crypto wallet yet, just create one at a reputable exchange company such as Coinbase. Whilst it might seem daunting to begin with, you’ll soon get the hang of how everything works.
Security for any Bitcoin wallet is tight, so make sure you are fully aware of wallet protocols. For instance, if you forget your password and lose access to your wallet, then it isn’t a simple case to reset your password. You will be asked for backup words/access keys and additional security methods that were once provided to you when you created the wallet. Make sure you always have these backed up and safely stored. Once you lose your wallet, there’s little chance of recovering your Bitcoin balance.
Hopefully, we’ve helped you understand how a Bitcoin casino works and how you can easily get started at safe and secure UK Bitcoin casinos. Browse our latest reviewed Bitcoin casinos above and take advantage of the latest Bitcoin bonuses and casino free spins! As always, if you find yourself having questions about Bitcoin casino sites or anything we’ve mentioned above, then you can always contact us.