All

Crypto Gambling Is a New Tradition, or Why Is Is Time to Start Betting with BTC

HudsonJune 28, 2022

0 136 3 minutes read

The boom of Bitcoin and other cryptos has introduced a new industry — crypto gambling. Reputable casinos like Joo Casino embraced the novelties and created ways to make crypto deposits. Time flies, and crypto becomes conventional and more used than fiat money for gambling. And why should traditional gamblers consider switching to crypto 100%?

1. Casinos Give Better Bonuses for Crypto Gamblers

The best crypto casinos might still accept fiat payments. Nevertheless, gambling websites will motivate guests to stake crypto by giving enhanced boosts for BTC, ETH, and other deposits. For instance, the fiat deposit bonus might be 100%, but it is 120% for crypto deposits. Or the FS packs for traditional gamblers will have around fifty FS, while crypto gamblers get ten or twenty more for the same conditions.

2. Extra Security Layers

Your data is well-protected when you use Bitcoin or other cryptocurrencies since you do not have to type in any banking details. It is only your wallet address that gambling sites need to know. So, even if the casino’s database were hacked, no one could access your account and steal money from it.

3. You Can Withdraw Winnings Fast with Zero Fees

The waiting time for a crypto transaction is several minutes. So, once the casino approves your withdrawal request, you get the money almost instantly. If you use bank transfers or credit cards, the waiting time could be up to five days. Here is a comparison:

Crypto withdrawals

Fiat withdrawals

ETH, DOGE, LTC, and other currencies — usually within one hour, plus or minus fifteen minutes;
BTC — within one hour, but sometimes the withdrawal takes up to one day. That is because casinos get many requests for BTC withdrawals and spend around five minutes processing each. Those minutes stack, sometimes delaying the payout.
Requires only your e-wallet address;
Overall, rarely take more than one business day;
No fees. If there is a fee, it is minimal.

Visa and Mastercard — at least one day, but usually around two business days;
International bank transfer — no less than three business days (usually five);
The bank might not process your request during the weekend;
Long verification procedures might delay your withdrawal. In the end, getting your winnings takes at least one week.
Fees gorge a solid amount of money from your sum.

4. You Can Be Anonymous

You do not have to present personal information when gambling with Bitcoin or other cryptocurrencies. The only thing gambling sites will know about you is your wallet address. So, your identity remains confidential.

5. You Do Not Pay Taxes for Your Winnings

Most countries do not tax Bitcoin or cryptocurrency earnings. So, even if you win a jackpot, you will not have to share your money with the government. Of course, it does not mean you should not declare your income for tax purposes.

6. You Get Better Odds and More Games to Play

Crypto casinos offer thousands of games from different providers. They also provide higher odds and better payouts than traditional gambling websites. For instance, the edge for slot games at a crypto casino is around 2%, while the house edge for slots at a regular casino site is 5%. On average, the RTP of table games at a crypto gambling website is also higher — 96%.

7. You Can Use Provably Fair Games

The provably fair technology allows gamblers to check the fairness of each round by themselves. So, if you doubt that a casino might be cheating, you can use this technology to verify that everything is right and transparent.

In Conclusion

Crypto casino gaming is the gambling future that is happening right now. It offers better conditions for gamblers, enhanced security, and provably fair games. So, it is high time to enjoy games staking BTC!