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Bitcoin online casinos on the rise again

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Searches involving Bitcoin online gambling are trending in Asian countries. Find out more about this exciting trend.

Online casino gaming has seen so many innovations and add-ons over the decades. One of the most notable has been the inclusion of cryptocurrencies, like Bitcoin, into to the market as a virtual payment method at a list of casinos.

Though not all that new to the market place, Bitcoin and other alternative cryptocurrencies have become increasingly popular among gamblers because of the decentralised qualities that mark the payment system.

This provides players in restricted gambling areas with access to gambling services that are otherwise banned in normal fiat currency.

Asian aspiration

The search for Bitcoin casinos is trending again, with most of the inquiries coming from the Asian market in general, with special emphasis on Japan and India. Though not exclusive to this market, the weightier laws against gambling in Eastern regions seem to have a direct influence on the call for Bitcoin alternatives.

Regulated and centralised fiat currency ensures that players who use the money are identifiable. This can influence withdrawals from casinos into Eastern bank accounts, resulting in money being seized from people’s accounts.

Cryptocurrency is unregulated though, and as such provides a legal way to skirt the issues involved with normal currency. The decentralised nature of the blockchain registry does not identify Bitcoin holders but rather works on hash referencing.

The funds belong to a wallet ID, not a physical person’s ID, making it possible to gamble with some anonymity.

In areas like Japan and India though, where online gambling laws are grey, the trends find that it is a slightly younger generation of players that are looking for Bitcoin betting.

This may be as a result of the inclination for younger people to be more tech-savvy, therefore more inclined to dabble in digital virtual markets than older people are. As more and more people begin to mine and exchange crypto, they will seek avenues in which they can spend it. The online gambling industry provides one such opportunity.

Where do cryptocurrency holders play?

There are several well-established ‘Cryptocurrency-Only’ casinos on the market today. Sites like Vegas Casino and Bitcasino thrive on decentralized betting, but still provide an opportunity for safe and fair options.

Some mainstream casinos provide for Bitcoin, Litecoin, Ethereum, and other crypto payment solutions on top of the normal fiat currency counterparts. You will have heard of many of these brands without realizing that they operate in this way. Some include Playamo, 22Bet.com, King Billy Casino, and Bitstarz.

Bitstarz and King Billy actually advertise and offer exclusive Bitcoin Welcome Bonuses and other crypto promotions too. 22Bet.com supports 25 different cryptocurrencies, usable on sports betting and casino play.

What’s the fascination with crypto?

As we said, it’s not only the restricted markets that are turning to Bitcoin technology but the trendy up and coming generation too. There are definite pros to using this type of payment method at online casinos.

  • Speed of Transaction: Bitcoin deposits and withdrawals are instant. Because of the lack of regulation, Bitcoin does not require KYC verification, which means that withdrawals are processed at the casino with speedier timeframes. Players should have their money in a few hours at most.
  • Safety: Funds are highly secure on the blockchain. All transactions done in this manner are incorruptible and irreversible.
  • Cost: The fees associated with Bitcoin banking are minimal. Because Bitcoin crosses borders, there are no forex charges attached when playing at remote casinos.
  • Anonymity: Bitcoin funds correlate with a decentralised wallet hash and not to any individual personal identity. This means that you can spend with a degree of anonymity.

As Bitcoin trends continue, it will be unsurprising if more and more casinos begin offering this form of payment method. If you would like to dabble in this world, let CasinoWow help you along with our guide on Getting Started with Bitcoin Casinos.

Published: October 10, 2020

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Article by Stelly

CasinoWow Contributor

Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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