Best Bitcoin Casinos in 2024

Date Published

Updated

Authored by

Paul De Freitas

BitcoinlogoBitcoin is the first example of cryptocurrency, a type of virtual money that is created and stored electronically. Unlike real cash, bitcoins cannot be printed nor does it have a bank. They are produced by independent people and businesses worldwide via computers using mathematical software.

Top Bitcoin casino of the month - April 2024

Jackpot City

Jackpot City

Overall rating for Jackpot City4.5 / 5

Bonus Offer

$1,600

  • Bitcoin accepted as a payment method
  • Fully licensed, Established in 1998
  • 600+ Popular casino games incl. live casino
  • Choose from many popular deposit options

18+ | New players only | T&C apply

18+ | New players only | T&C apply

What is Bitcoin and how does it work?

Bitcoin is a digital currency that is not controlled or backed by any bank or government. The currency is stored digitally and has no physical form. It is also decentralized in the sense that not one person or entity holds control over the network (Peer-to-Peer or P2P network) on which the coins are transferred. Bitcoins are stored in a software program called a "digital wallet".

Once you have installed a Bitcoin Wallet on your mobile or pc, it will generate a Bitcoin address. Your Bitcoin wallet basically acts as a bank account by which you can then make and receive payments from other Bitcoin address holders. It works almost similar to email, except you should only use a Bitcoin address once. You can create more Bitcoin wallets as and when you need them.

Bitcoin is considered to be one of the best ways to fund your online casino account - it’s cheap, fast, and anonymous. No wonder it's being called the currency of the future!  

How to set up a Bitcoin wallet

  1. 1. You can register for a Bitcoin wallet of your choice by visiting Bitcoin.org and downloading the free client.
  2. 2. Next, you need to get your hands on some coins – you can either purchase them directly using your Debit/Credit card at sites such as Coinmama, CEX.io, or Wirex - or you can mine them yourself. Detailed explanations on how to go about the latter can be found online.
  3. 3. Now you are ready to play at any of our recommended online Bitcoin Casinos!

How to use Bitcoin for your casino deposits

  1. 1. Naturally, the first step required is ensuring your Bitcoin wallet contains enough funds. Topping up can be done in many different ways, the simplest of which is via a Bitcoin exchange where you enter the amount of cash you wish to spend, type in your wallet address, and select your payment method. Your bitcoins will be ready for use within minutes.
  2. 2. Once on the casino website, go to the cashier section and select Bitcoin as your preferred payment method.
  3. 3. You will then automatically be provided with a unique web address – go to your Bitcoin wallet and type that address in the tab for sending Bitcoin.
  4. 4. Enter the amount you wish to play with and confirm the transaction.
  5. 5. Your funds will be available within a few minutes.

How to use Bitcoin for your casino withdrawals

  1. 1. Once you are ready to withdraw your winnings, go to the cashier page of your online casino and select Bitcoin from the available options.
  2. 2. Go to your Bitcoin wallet and enter the wallet address that will be given to you.
  3. 3. Enter the withdrawal details as prompted by the casino and check that all their requirements are met.
  4. 4. Once you click ‘withdraw’ your request will be processed and you should have your funds within a few hours.

Safety and Security

Due to its anonymous nature, Bitcoin is one of the safest payment methods you can use online. There is no link to any of your private information such as names, bank account numbers, or any other sensitive details that could be traced back to your identity or make your data vulnerable to hackers in any way.

All Bitcoin transactions are digital, encrypted and subject to a number of verifications which ensure the process is secure. Taking all this into account, Bitcoin is one of the best ways to pay for your real money casino games and to withdraw your winnings, whether you are playing from your desktop or mobile device.

Bitcoin Privacy Protection Tips

Avoid transactions getting traced back to your name and information, by not giving out any personal details with your Bitcoin wallet. Your funds will become traceable as soon as you convert them into USD or other standard currencies, so best to keep them in Bitcoin.

Always generate a new wallet address for each transaction (i.e. go into the wallet and request a new address every time) This way, you will not leave a transaction trail that can be traced back to you. Only play at recommended and trusted Bitcoin casinos.

Advantages of using Bitcoin

  • It is decentralized, meaning it isn’t controlled by one central authority who can manipulate the system.
  • Setting up only takes a few seconds.
  • It is anonymous in the sense that bitcoin addresses aren’t linked to personal information, reducing the risk of identity theft.
  • It is totally transparent, as all transactions are stored in what is known as a blockchain.
  • Very low transaction fees.
  • Payments are processed within minutes.
  • Can be used for withdrawals from your casino account as well.
  • Bitcoin can be backed up and encrypted to further safeguard your money.

Disadvantages

  • Bitcoin transactions cannot be reversed – meaning there’s no getting your coins back unless the recipient agrees to refund you.
  • Lack of awareness and understanding due to Bitcoin still being in its infancy stage makes it a medium to high-risk investment.

FAQ’s

The biggest win when using Bitcoin to fund your online gambling account is its complete anonymity. Bitcoin is not regulated by a central bank and you don’t need to enter any personal details when opening an account or making transfers. Transactions are encrypted and highly secure with strict verification protocols that make them virtually impossible to trace back to their source. Banking with Bitcoin is free, and transactions are processed quicker than some of the other casino banking options around.

In general, there are no specific laws regulating Bitcoin gambling. It is neither officially allowed nor prohibited. ... If it's not a “real” currency, any regulations around traditional (fiat currency) online casinos should not be applied to Bitcoin gambling websites.

Aside from Bitcoin (the most popular cryptocurrency in the world), other accepted crypto options include BitcoinCash, Ethereum, Litecoin, Dogecoin, Monero, Dash, NeoGas, Stratis, Peercoin, and PlayMoney.

Bitcoin casinos are doing all they can to attract your business, and in many cases, this involves offering free credits by way of sign-up bonuses and promotions.

When playing online casino games, any bitcoins you place in your account will be automatically changed to USD (fiat). You then play your dollar-denominated games like normal. When it comes time to cash out your BTC, the USD amount of your withdrawal will be calculated in terms of bitcoins, and that amount of coins will be sent to your specified Bitcoin address.

Bitcoin has a clear edge on other digital wallets for its anonymity and instant transactions. With PayPal for example, you have to link your account to your bank, but not with Bitcoin. The one drawback to gambling with Bitcoin however, is that the currency’s values fluctuate – so you won’t be able to withdraw as much cash when your coins depreciate in value.

Generally, buying and sending Bitcoins peer-to-peer won’t cost you anything as there are no banks or clearing houses involved. Online casinos accepting Bitcoin might charge you a small processing fee however.

If you keep your Bitcoin earnings in Bitcoin they will not be taxed. It will only be subject to tax once you convert them to cash currency.

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