Last updated on February 4th, 2018 at 02:57 pm
I admit, gambling has never been my strong suit. Even though I enjoy the occasional online poker session I don’t tend to make this a habit. However, as someone who lives in a country that considers gambling illegal, I know that it can be a real pain to find a casino that accepts players from such countries.
Nowadays casinos have a new solution for this issue – Bitcoin. Since Bitcoin is somewhat anonymous many Bitcoin casinos have started popping up since authorities can’t regulate or enforce these casinos. This is a very dangerous situation where people are depositing their Bitcoins into sites that may not even be provably fair (we will get to this in a minute).
So this post has two objectives:
- Get you to understand what you need to check in a casino BEFORE putting your money in it
- Review the top 5 Bitcoin casinos in my opinion
As I said in the beginning, I’m not that big a fan on online casinos, so my review will be based on user reviews and a detailed examination of each website. But let’s get to it…
4 crucial questions to ask every Bitcoin casino
Is the casino Provably fair?
Whenever you play at a casino (physical or virtual one) there’s always the suspicion that the house may be cheating. Of course with the more respected casinos this is rarely the case, but if you go to a somewhat unknown Bitcoin casino site online, how can you know that you are getting the winning odds you’re supposed to get?
A trustworthy Bitcoin casino will know that their “house edge” is enough to make a profit and therefor will want to prove to their players that they are not manipulating any results. They do this through a mathematical algorithm involving cryptography (read the detailed explanation here).
Bottom line, a provably fair casino will show you how to check that the results of the game you play are completely random. Here’s an example from BitStarz. If a casino can’t supply this proof or isn’t provably fair I suggest betting with caution.
Is the casino licensed and regulated (and by whom)?
Just like you want to make sure the casino is provably fair you also want to make sure the casino is licensed and regulated. This will be another step towards validating the trustworthy of the specific casino. Most licensed sites will have a link to their licensing certificate somewhere around the lower part of their home page (i.e. the footer).
In order to assure that the licensing of a specific website is actually worth anything, it’s important to see where it was licensed. For example, a Bitcoin casino licensed and regulated under the UK gambling commission is much more trustworthy than a Bitcoin casino licensed under the Curacao eGaming license.
What license and regulation means basically is that if you find out a casino is cheating you from your money you can complain to the registerer to take action against them. If the registerer has no real power, or just doesn’t care they will not do anything to pursue your complaint. Unfortunately today most of the Bitcoin casinos are regulated under the Curacao eGaming license and do not supply adequate protection for their customers.
What are the casino’s payment terms?
Each Casino has their own payment terms. These include:
- Minimum payouts
- Accepted payment methods and currencies
- Fees for withdraws and deposits
Each casino displays this information differently, some will have it on their FAQ pages while others will have a dedicated payments page with this info. You need to make sure that the casino accepts your preferred payment method and to be aware of the minimum balance to withdraw your funds.
Does this casino offer support?
Last but definitely not least, how well is the online support for the Bitcoin casino. Fortunately this can be tested very easily by opening a ticket before spending a dime at the casino. A well supported Bitcoin casino will have multiple support channels such as social media, email support and an online chat with a rep ready to answer your questions right away.
This is important since if something goes wrong with your deposit, withdrawal or anything else you’ll want to talk to someone fast. My suggestion is to prefer casinos that offer the live chat option.
The 5 best Bitcoin casinos currently available
Now that we’ve covered the basics of the different Bitcoin casinos out there, let’s review the top 5 Bitcoin casinos according to user reviews and my own personal analysis.
The most popular Bitcoin casino out there is undoubtedly Bitstarz. The casino is provably fair and regulated by the Curacao government. It offers around 1,000 high quality games, however it does not offer a sportsbook feature (where you can bet on popular sporting events).
Bitstarz also accepts multiple currencies and isn’t limited only to cryptos. Deposits can be made via Mastercard, Skrill, Neteller, Bitcoin, Litecoin, Bitcoin Cash and various other methods making it highly accessible to worldwide users, even those who don’t own Bitcoin. Support is available through social media, online chat and email. It’s also probably the most appealing casino out there in terms of design.
What really caught my eye about Bitstarz is the fact that they respond to user complaints even via Reddit, which shows they care about their customer experience and are willing to step up when needed.Visit Bitstarz
Established in 2014 Fortune Jack is probably the most trusted Bitcoin casino out there. It is provably fair and regulated by the Curacao government. There are over 500 games available on Fortune Jack. Deposits are available through several cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, Dash and many more.
There is a robust support system to the website in the form on online ticketing, online chat and several social channels as well. It currently is one of the most visited Bitcoin casinos available today.Visit FortuneJack
Established in 2015 Cloudbet is licensed by E-Gambling Montenegro. The site offers an online casino with Bitcoin slots, roulette, blackjack and baccarat. There’s also a live casino that offers an authentic, real-life experience with a great feature enabling you to be seated immediately (no waiting required).
The site also offers live sports betting including all major leagues like the EPL, the Champions League, NFL, NBA and NHL as well UFC, Cricket and Tennis.
All bitcoin player deposits are received directly into cold storage with keys that are kept safely offline and away from potential online threats. Cloudbet maintains an online hot wallet with enough funds to process player withdrawals each day, so that player withdrawals are processed quickly each day.Visit Cloudbet
Established in early 2014, mBit is a Curacao regulated casino that puts an emphasis on anonymous betting. The casino offers a variety of games including live dealers. You get a 110% deposit bonus when you deposit, however deposits are only available via Bitcoin.
There are 236 games on mBit Casino and online support is available as well in the form of a chatroom. Keep in mind that just like BitCasino, mBit isn’t provably fair.Visit mBit
BitCasino is one of the oldest Bitcoin casinos around. It started out in 2013 and has been supplying over 600 types of casino games ever since. The casino is regulated by the government of Curacao, however it is not provably fair.
What makes BitCasino better than Crypto Games is its wide variety of games (including live casino games), and the fact that it supplies new players with bonuses for each deposit into your casino account. This is basically a way to get people to deposit money sooner. BitCasino supports only Bitcoin at the moment and no other currency is allowed for deposits or withdrawals.Visit BitCasino
Have you had any experience with Bitcoin casinos online? I’d love to hear about it in the comment section below.