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Bitcoin Gambling: an Expert Guide

Posted by Veronica Taylor on
Last updated:

Bitcoin is quickly becoming the currency of choice for gambling online. From faster speeds to greater reliability, there are numerous advantages to gambling with Bitcoin over traditional currencies. Ready to get started?

In our guide we’ll cover:

  • The best US sites accepting Bitcoin deposits
  • The Pros and Cons of using Bitcoin for online gambling
  • How to deposit at an online casino using Bitcoin and how you’ll be billed
  • How to withdraw from a casino site using Bitcoin
  • Bitcoin safety and security
  • Other deposit methods to consider

Best Online Casinos Accepting Bitcoin

If you want to gamble online using Bitcoin, you’ll want a safe, secure site that processes Bitcoin deposits and withdrawals quickly. Here are our favorite casinos that accept Bitcoin:

Pros and Cons of Using Bitcoin for Online Gambling

While Visa (and credit cards in general) tend to be the default method for most US-facing online casinos given their popularity and high acceptance rates, it’s worth noting that each casino has different minimum deposit and withdrawal requirements for each payment method, so as always, we’d recommend reading the fine print.

Bitcoin Pros

  • Higher limits for withdrawals and deposits
  • Many sites offer great bonuses for depositing with Bitcoin
  • No processing fees
  • Instant transactions

Bitcoin Cons

  • Might be intimidating to those not technologically inclined
  • Some casinos don't accept Bitcoin

How to Deposit at an Online Casino with Bitcoin

green bitcoin cryptocurrency logo

Choose a Casino that Accepts Bitcoin

Select your Bitcoin casino and sign up for an account.

a green laptop with a profile picture and two check marks on the screen

Create a Bitcoin Wallet

Select and set up a Bitcoin wallet, which is how you will manage and send your Bitcoin.

two green arrows encircling a coin

Buy Bitcoin from an Exchange

Select an exchange and purchase Bitcoin using your credit card or bank transfer.

Bitcoin Billing at Online Casinos

One of the many pros to using Bitcoin at casino sites is the level of anonymity you have. There isn’t really any billing that comes with using Bitcoin at online casino sites as it isn’t connected to your bank account or credit card. Don’t put any personal details in your Bitcoin wallet and these transactions won’t be traced back to you.

How to Withdraw from an Online Casino Using Bitcoin

Here are the typical steps you can expect to encounter when withdrawing from a casino online using a Bitcoin card:

Request a Withdrawal

Head to the casino’s withdrawal page, choose your amount, and select Bitcoin as your intended method.

Generate Bitcoin Wallet Address

Check your Bitcoin wallet address, confirm and it and send the address to the casino site.

Process Withdrawal and Receive Funds

Finish the transaction and receive your bitcoins almost immediately. It’s that simple!

Using Bitcoin: Safety and Security

Bitcoin is highly lauded for its security features. The encryption that comes with Bitcoin transaction is top of the line, and these transactions are largely unable to be traced to back to you, which is great. Meanwhile, you receive larger bonuses for making deposits with Bitcoin, so it works out for everyone.

You also have to check on the casino’s end to make sure they’re doing all they can to keep your transactions secure. Make sure you can see the padlock icon right by the website address to confirm that it is safe.

Types of Bitcoin Bonus

Casinos have responded to Bitcoin’s spike in popularity by offering bigger and better bonuses for cryptocurrency players.  In some instances, these are even more generous than the bonuses offered to players using a credit card.

Here are the most common types of Bitcoin bonuses:

Welcome Bonus

Welcome Bonus

This is the bonus that you get when you first register your account in a new casino. In return for your first deposit, the casino will usually offer a doubling bonus. If you deposited 0.5 Bitcoin, the casino would double it and you would have 1 Bitcoin in your account.

Deposit Bonus

Deposit Bonus

Some casinos give you a bonus every time you deposit into your account. These bonuses are usually at a lower rate than your initial welcome bonus. For example, if a casino has a 15% deposit bonus, every time you deposit 1 Bitcoin into your account, you will get a 0.15 Bitcoin bonus.

Free Spins

Free Spins

This is a bonus which is available in most Bitcoin-friendly casinos. The free spin bonus increases your chances of winning big at no additional cost to you. The frequency of receiving a free spins bonuses varies by provider.

Referral Bonus

Referral Bonus

You might receive a referral bonus when you successfully invite a friend to register and deposit with a casino. Some casinos set limits on the total number of referral bonuses that you can earn, others offer unlimited rewards.

The Legality of Gambling with Bitcoin

Current regulations in the USA do not prohibit gambling with Bitcoin. Gambling with BTC is incredibly similar to gambling with USD. While the currency wagered might be different, the core principle of online gambling remains the same. The player bets in the hopes of winning an additional reward.

When considering registering with a new casino, it is best practice to read up on the rules as well as the terms and conditions – each site has slight variations. Some may refuse to accept US Bitcoin players, while some might put an additional age limit on gambling with Bitcoin. This is important as in the USA, online gambling legislation tends to be governed by individual states – for example, some states prohibit all forms of online gambling.

The key is to follow any gambling law in your jurisdiction. To find out more about gambling laws in the US, check out our guide.

Alternative Crypocurrencies

Since the successful launch of Bitcoin, over 5,000 alternative cryptocurrencies have been created. Affectionately known as altcoin, some of these alternatives are direct descendants of Bitcoin – Bitcoin Cash and Bitcoin SV. Born from developer disagreements, the crucial difference between them all is block size. However, while Bitcoin remains the most popular of cryptocurrencies, altcoins such as Ethereum, Ripple and Litecoin are gaining in popularity.

While these alternatives hold many of the advantages of Bitcoin such as the instant transactions and higher limits, a major disadvantage to gambling with them is that many casinos do not accept them.   BetOnline supports many of the above cryptocurrencies as well as Bitcoin.

Bitcoin Frequently Asked Questions

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