Simply put, a casino is an establishment within which gambling takes place. The term casino has been redefined over the recent past to conform to the changing nature of the game, as more and more betting activities are moving away from land-based casinos and are now happening online. The popularity of online betting has been so much proliferated by the nature of the Internet itself.
Typically, the Internet is everywhere, and having attached a gambling service on the back of the Internet; the service is instantly available anytime anywhere for everyone who needs it.
- Online betting has led to the great emergence of International Betting Technology (IBT) which has now been entrenched as the biggest frontier in the design and back-end of most online gaming.
- There has also been a lot of downloadable internet apps that create added revenues for software developers with a keen eye on having the game playing virtually.
When playing online, one does play with virtual currency. The evolvement of online payment services has significantly helped in actualizing the game in that the online casino owners can cash in while the players are also able to use the various payment options available online such as Visa, American Express, PayPal, PesaPay, Authorizenet, Dwolla – the list is endless.
These payment methods typically convert money into a virtual currency or and enable you to either make withdrawals or deposit into your gaming platform.
Using Bitcoin in Casinos
The nature of the game almost dictates anonymity, and the game found a match with the invention of a currency that enables maximum anonymity in the name of Bitcoin. Ordinarily, all online payments would be traced to a credit card or bank account by a third party. But Bitcoin came up with such a heavily encrypted payment platform and an ab initio anonymity leading to its increased popularity in online gaming. Bitcoin is a cryptocurrency whose inventors remain anonymous but operate under the alias name “Satoshi Nakamoto”. It was invented in the year 2009, and since then its usage in online platforms where anonymity is integral has greatly proliferated more so in the betting platforms.
With the invention of Bitcoin, gamers, and bet joint sharks found their match;
- They both could make the game more of a mystery by being anonymous.
- The law previously would limit the amount one could put in on bets by simply putting a cap on the credit cards, but now with an anonymous currency, gamblers who are spendthrifts (High rollers) and big risk-takers could take that chance without much regulation ensuing.
Having tackled anonymity and attracted high rollers into Bitcoin, gamers now hunt for the best deals on their cryptocurrency; mainly casinos that offer the best deals and accept Bitcoin while offering high roller bonuses and goodies for this class of seasoned gamblers. These include a generous loyalty program, fast gameplay, better-designed game graphics, and quick payouts. The main aim is to make the high roller feel privileged by throwing in lots of premium goodies.
- For a Bitcoin casino to be considered attractive to high rollers, customer service is paramount, and increased transaction security has to be non-negotiable.
- The variety of the games played has to also be high-end in terms of the graphics and the ensuing bonus payouts.
- The high rollers are mostly given preferential treatment by being allowed instant play much quicker, making them feel welcome as well as being allowed a variety of games and downloadable versions of their favorite games. They are known to offer the convenience that will make any spendthrift keep coming back for more.
Loyalty is greatly valued for the high rollers with the casinos providing some lucratively high payout jackpots, huge bonus programs, and tournaments. The Bitcoin casino has this great feel of a high roller even for the least of the gamblers.
Some casinos like Bitstarz offer unlimited accounts allowing one to familiarize themselves with the game and payouts ensuring a successful win. Since one Bitcoin is the equivalent of $118, even a little payout on Bitcoin is such a huge amount. The record payout on Bitcoin is 11000 Bitcoins which is an equivalent of 1.3 million dollars.
The best casinos will allow for an integrated cash-out interface allowing one to withdraw their winnings in various other currencies including USD, British Pound, Euro or choose to keep the withdraw in the same cryptocurrency. These include
- Limo play
- and 7Bit.
Much as players will be looking for anonymity and huge pay-outs from their favorite cryptocurrency casinos, the gamers also look for the registered Casinos as they will mostly conform with best practices and will most likely not be involved in fraudulent dealings. The hallmark of Bitcoin Casinos is a huge array of high-end graphics games, Large bonus pay-outs, a wider variety of games, and uncompromised safety.