Bitcoin casinos have grown in popularity as crypto payments and transactions are becoming the new norm.
The fast-growing popularity of bitcoin as an international, digital currency has empowered a new economy to excel in parallel to the existing traditional currency-based method of running the economy.
As cryptocurrencies and bitcoin transactions continue to gain wide acceptance, they have also built a new online space for gaming, gambling, and lotteries through what is called a bitcoin casino.
What Are These Bitcoin Casinos?
For individuals that are unfamiliar with bitcoins, bitcoin is the most widely accepted digital currency based on a platform called blockchain technology.
Several online casinos carry out their transactions only in bitcoins, while other platforms offer bitcoin as an additional currency of transaction, adding to these transactions in traditional currencies like the U.S. dollar.
Since the emergence of bitcoin, there are a lot of growing numbers of online casinos that are offering gambling and money-based games using the bitcoin currency.
Bitcoin casinos have their operations all over the globe, although they are meant to be subject to local laws.
Through bitcoin transactions, these casinos offer a wide variety of options for players to the betting system in their bitcoin money on various gaming activities, including traditional casino games, gambling, sports betting, online lotteries, and spread betting games.
Bitcoin casinos are an online arena for gambling, gaming, and lotteries that deals solely in the business of bitcoin cryptocurrency.
Though this is illegal in the U.S., bitcoin casinos are popular due it’s nature of anonymity and the pull of online game accessibility with often zero transaction fees and having unlimited free transactions daily.
Bitcoin casinos are often seen to have a large impact on the bitcoin marketplace; however, the data information about this is limited.
Arguably, bitcoin casinos remain an ethical gray area.
Here are some of the popular Bitcoin Casinos. Some of the most popular global bitcoin casinos around the world include:
How does these Bitcoin Casinos Operate
Software as a technological tool remains at the heart of any online gaming or gambling business and the same proposed fact still holds for bitcoin casinos.
Most of the popular bitcoin casinos that have large user bases run their own gaming or gambling software, developed in their own way or form.
Other smaller players around the world mostly use purchased or rented versions, which can be customized by just quite a few unique features added to the game.
The software runs and conducts the game, with little or minimal human intervention added to it. For games that need all human players, the software in this case plays the role of the table dealer who will actually be conducting the game.
Due to the digitalized nature of their business, bitcoin casinos often face the challenge of having to convince their users about the fairness of the casino’s operations.
Most bitcoin casinos have attempted to build trust by openly disclosing how their software algorithms run for fairness purposes.
As for the rest of it, users are more interested in a peer-to-peer reference that works or the dynamism they offer in these casino games.
Poker is considered the most popular game for bitcoin casinos, and a lot of other interesting games, lotteries, and variations of popular games only exist and will continue to get invented.
Bitcoin Casinos Are Gaining Popularity
As said earlier, anonymity remains one of the biggest advantages for bitcoin casino users, and as matter of fact, for any bitcoin transaction to happen, even the founder of bitcoin, the pseudonymous Satoshi Nakamoto.
Most bitcoin casino sites usually offer these zero transaction fees with the addition of unlimited free transactions daily, while the traditional currency-based casinos have always had to set limits and transaction fees.
The online digital presence of this business gives global access and easy availability for players in large numbers, around the clock to keep playing.
Since online games are now considered largely beyond the traditional currencies and control of authorities, many recent online games have been customized to have tweaks in the rules of the game.
These variations are not allowed legally when using the traditional currency-based method of online casinos, and this has been a major contributor to the popularity of bitcoin casinos around the world today.
Why are Casinos Are Under the Microscope?
Traditional online casinos carrying out transactions in the regular traditional currencies have defined regulations. Payments in these traditional currencies have made it easy for tracking and identifying individual players, dealers as well as operators of these casinos.
This is not the same case with the bitcoin casinos because bitcoin transactions are purely digital, audit and verification become a challenge.
Using this example, in an online card game, what is the guaranteeing factor that the cards have been shuffled and distributed fairly among the players?
Also, if a player’s anonymity is maintained during the game because they pay anonymously through the medium of digital currency, the traditional fair business practices become even more questionable.
Quite a good number of bitcoin casinos require minimal user details. Often the requirements are limited to only email and login name, no age verification added no location check routine or other details.
Gambling is prohibited in lots of countries across the world, and bitcoin casinos make it more difficult for authorities to regulate and control at the global level
Bitcoin Games Launches Angry Banker With A $12,000 Tournament
The First Exclusive Slot Game since its Launch has its very own premium gaming portal Bitcoin Games has never disappointed in bringing to the table some of the most popular online casino games to crypto enthusiast gamers all around the globe since its emergence a few years ago
Recently, the popular crypto casino just released its biggest exclusive game to date called The Angry Banker.
The Angry Banker game acts as a blueprint on how Bitcoin is now constantly changing the way that people carry out transactions with one another.
Its name is a mockery of the traditional banking system which is angry at crypto as they can no longer have control over transactions happening on Bitcoin space or any other cryptocurrency created.
The Game Sounds Like Fun.
The Angry banker game features its own Jackpot appearance that grows according to each bet any player makes in the cause of playing the game.
The pot grows to high amounts of Bitcoin and often becomes very big and fast which is currently worth 25 BTC.
The Angry Banker also has big multipliers on it and 20 pay-lines, which increases the chances of each bet resulting in a win.
A total number of two weekly tournaments are also being hosted by the casino where members can have the opportunity to play The Angry Banker and win from a prize pool worth $12,000.
The Top 3 players of this game every day of the first week will be eligible to grab the prize up to 50% cashback and $1000 in cash, while the 2nd week of the game will take note of the Top 50 players claiming the lion’s share of $2000 each!
The Angry Banker game is currently taking bets only on Bitcoin Games.