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Is Bitcoin casino reliable and what is provably fair gaming?

Dec 26, 2017 Admin Gambling

The anonymity that bitcoin offers may lead to fraud - this is the general perception relating to this field. In online casinos, this can be a huge problem. Regulating the system is difficult, because of the inherent nature of bitcoins and other cryptocurrencies. Moreover, some countries do not permit gambling, so the question of using bitcoins for online casinos is illegal. Given such a situation it is natural to question whether casinos offering bitcoin based gambling opportunities are indeed reliable. 

To make such gambling reliable in conventional online casinos a “technical systems test” is carried out. What it means is that the “random number generator” of the casino is tested to confirm that the randomness is 100 percent. 

When it comes to bitcoin casinos, a provably fair method is used. This method empowers the user to check the reliability of the bitcoin casino site’s “random number generator”. 

Technically, the process allows the user ...

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Bitcoin deposits and withdrawals in online casinos

Dec 26, 2017 Admin Gambling

Bitcoin deposits and withdrawals to online casinos

So you have finally decided to play online games using Bitcoin – but, there seems to be a lingering concern you have about this whole idea of Bitcoin. You’re just wondering, how to make deposits and cash out your earnings – you can’t seem to wrap your head around how this works.

Since the introduction of Bitcoin to the online casino community in 2012, it took quite a while to catch on, but today, you’d find several reputable online gaming platforms accepting Bitcoin and also facilitating withdrawals using the digital currency.

So we wrote this article to help you understand the nuances of depositing and withdrawing your earnings using Bitcoin and how to navigate between bitcoin payment processors for online casinos.

Steps to Deposit using Bitcoin

Step one: Create a Bitcoin wallet if you don’t have one already.

First, understand that Bitcoin is a digital currency – the implication of this is that you...

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Bitcoin casinos regulation and licences

Dec 26, 2017 Admin Gambling

At times there is some confusion relating to the legal aspects of bitcoin, and other cryptocurrencies. This is mostly due to the fact that many countries have yet to accept bitcoin as a real currency. Consequently the legal framework on regulating them is not yet in place. 

But bitcoin casinos have found a way around such restrictions. They have or, can have, an in-house payment processing mechanism. They offer bitcoin wallets, and the player’s withdrawals and deposits. 

In addition, there are now technologies that are resistant to any censorship. The companies that have received the license to start such online gambling casinos believe that they are answerable only to the jurisdiction of the country or region from where they received the license, defeating the purpose of a ban on gambling as is applicable in the US.

 Licenses, and regulations, however, inspire confidence that there is a safety net to depend upon, and that there is a mechanism in place for addressing grievances. ...

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