Updated Updated: October 18, 2019

Bitcoin

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Operators Accepting Bitcoin

Over the last few decades, the betting industry has seen a slew of innovation leading to a seemingly endless series o technological revolution. As a result, online gambling has greatly been affected and largely this has meant changes for the better. With blockchain gambling looking like it will be the next big revolution, bitcoin casinos seamlessly allow punters to place their bets and withdraw easily with bitcoin.

The UK betting industry is competitive, well-crafted and strictly regulated. The recent legislative amendments prompted increased transparency and guaranteed players’ security against exploitative practices.

The guidelines with respect to the interest of minors in betting exercises turned out to be significantly stricter. UK betting authorities are additionally intending on placing restrictions on betting related promotions broadcasting during the daytime.

Every one of these endeavours is dedicated to the “responsible gambling” cause and remains the fundamental motivation behind why the UK Gambling Commission looks toward the utilization of Bitcoin as a deposit/withdrawal technique at online casinos and sportsbooks.

No matter if you are new to betting or a seasoned player, it’s natural to wonder if casinos accept bitcoin? How to bet with bitcoin? Which is the best bitcoin casino that offers bitcoin casino promotions for choosing bitcoin betting and so on?

Whether you have landed here in search of bitcoin casino reviews or are searching for bitcoin betting sites that suit your needs, you are in the right place. Low transaction commission rates and quicker exchanges are reasons that Bitcoin is really expanding its popularity in the UK market.

Today, we attempt to shed some light on this digital currency that is gradually finding its niche in the online betting sector.

What Is Bitcoin Casino?

While bitcoin casino UK probably is the novel digital trend today, just a few years back it seemed odd as very few people knew about binary cash. It wasn’t until the start of 2018 that some online enterprises began embracing bitcoins as a payment method of choice. Let us understand the basics of what exactly a bitcoin casino looks like.

The bitcoin casino is like any other online casinos or iGaming hubs that comply with the existing gambling laws. However, instead of using traditional monetary forms, players can use bitcoin, which is a cryptocurrency, to make a deposit valued at say x-amount and expect payouts on wins that match the bitcoin x-amount. A couple of dedicated sites are tailored specifically for bitcoin and are licensed by regulatory bodies to ensure appropriate security measures are taken for customers’ fund’s protection.

The bitcoin transactions are peer-to-peer, no cost, quick (usually within 30 minutes) and anonymous; making the bitcoin casinos more secure than sites using traditional payment systems used for deposit and withdrawal. Besides, lower operating costs facilitated by running bitcoin casinos imply better games and quality betting odds for punters.

It is important to note that rogue Bitcoin casinos tend to have an abnormal house edge. Based on RTP (Return To Player) percentage (which are inversely proportional), the house edge on a specific casino game can be calculated. If the potential returns from a winning round are comparatively lower than other casinos, it implies that the particular bitcoin casino under scrutiny has a high house edge. It is recommended that you calculate the house edge before trying your hands on bitcoin betting.

In the UK, every licensed bitcoin casino and gambling website needs to display the gambling commission logo. Also, independent testing companies like eCOGRA are employed to confirm provable fairness of random number generators for all online games and to evaluate RTP percentages. 

First Bitcoin Casino

SatoshiLive, launched in 2013, appears to be first ever online gambling platform that exclusively used bitcoins for live dealer casino games. However, some consider the first bitcoin casino in the world was launched in 2014 as that is when crypto-currency started gaining a lot of traction. Bitcasino.io was licensed and regulated by the Government of Curaçao and operated by mBet Solutions in 2014.

It happens to be a fully owned subsidiary of mProcessing Solutions Ltd, Cyprus and leverages all EUR payment processing. This online casino allows players to deposit, play and withdraw money with bitcoin and ethereum crypto-currencies. They offer the most popular bitcoin slots, table games and feature popular video slots like “Mr.Vegas” along with conventional games like blackjack and baccarat.

Bitcasino.io provides multiple live casino games with several languages and locations as well as more than 1500+ bitcoin casino games. All these games are developed by reputed providers such as Evolution, Pragmatic Play, Microgaming, Ezugi, Betsoft, QuickSpin, and more. Also, their bitcoin casino bonus for new players consists of a welcome bonus offer of up to 100% depending on the amount being bet. Punters can instantly join this bitcoin casino by registering a free account in 15 seconds. Of course, terms and conditions apply.

How Do I Place A Bitcoin Bet?

Before we discuss how one would place a bitcoin bet it’s important to know some basics about the currency and how to go about obtaining, storing and utilizing it for purposes of later use.

How You Can Store Bitcoin?

Bitcoins can be stored using:

·        a cloud software (Blockchain/GreenAddress store) or

·        Downloadable software (Electrum/DarkWallet) on your computer hard drive.

·        A hard wallet with a passkey.

With these three forms of storage, players can access a plethora of services dedicated to depositing and withdrawing bitcoins to and from bitcoin betting sites. Thus bitcoin gambling enthusiasts are no more limited to just one particular deposit and cash out option.

Use of hard wallets provides an added layer of security as it works as a simple carry around USB drive. Whenever required, you connect the device to a computer, enter the passkey and transfer the required amount of bitcoin or other crypto-currency to the chosen wallet. However, to do all of that, you would first need to create a bitcoin wallet.

Create And Activate Bitcoin Wallet

In three simple steps, you can have your bitcoin wallet ready. You can select to create your wallet with various options like Electrum, Coinbase, Robinhood, Exodus, Blockchain.info, Trezor to name but a few for computers and Mycelium for mobiles.

Step 1-Register/Signup for a bitcoin wallet by creating a user name and secure password.

Step 2-Activate your bitcoin wallet by clicking the verification link sent to the email address used during registration. Make sure you complete your profile and link a valid phone number.

Step 3-Fund the bitcoin wallet by registering a payment method, preferably direct bank transfers as a few bitcoin wallets may not facilitate withdrawals from credit/debit cards. The easiest way to fund your bitcoin wallet is to purchase bitcoin from someone else. Other ways include mining of bitcoin, but it is a cumbersome process that involves extremely expensive hardware dedicated to run 24X7, various mathematical calculations and huge amounts of time.

Place Your Bitcoin Bet

As we explained earlier, bitcoin casinos are very similar to your usual online sportsbook. All you need to do is select your sport or game form the available list and place your bets as you would do normally.

Which Is The Best Bitcoin Casino?

The features and qualities of any bitcoin casino that makes it worth including are:

·        Having a pool of interesting games and slots

·        Quick and safe withdrawals

·        Demonstrably fair results with a quality audit trail

·        Prompt and friendly customer support

The appeal of Bitcoin gambling is further elevated by a set of bitcoin casino bonuses offered by various Bitcoin casinos. In fact, when you place your bets online, the array of lucrative promotions and deals that guarantee an increase in your bankroll in the short term remain a prime factor in determining the best casino. In the following section, we bring you a brief overview of bitcoin casinos in 2019 that UK players can bet with safely and make handsome profits.

Bitcoin Casinos 2019

Some of the popular bitcoin betting sites in the UK include

BitStarz

One of the most popular at the moment, BitStarz, as its name suggests, supports bitcoin for gambling since it was formulated in 2014. An award-winning gambling platform, BitStarz is known for its quick payouts, full compliance with regulations and a large variety of games.

mBit

One of the early adopters of Bitcoin payment method, mBit has been in business for quite some time and they are loved for their instant payouts and great customer support. Many consider mBit to be the first ever bitcoin casino in the world. mBit has maintained its position in the industry due to not just crypto-currency support but also quality sportsbook odds, games and a casino as well.

FortuneJack

One of the best that will walk into a top 10 Bitcoin betting sites list, FortuneJack was founded in 2014 by experienced handlers of gambling and it is popular for supporting an array of crypto-currencies. FortuneJack has a great sportsbook section, a great variety of games and amazing customer support.

1xBit

Extremely popular in Europe and around the world, 1xBit is a behemoth that has been in the business for a long time now. 1xBit is famous for its enticing casino section, bitcoin casino promotions and bitcoin casino bonus. 1xBit also operates many subsidiary brands which are equally popular. They support a huge number of payment methods including bitcoin and other crypto-currencies.

BetCoin

Despite some controversies, BetCoin is still considered a strong, legitimate and profitable gambling website supporting bitcoin. In fact, BetCoin has a solid welcome bonus where a player stands to win up to 3 BTC as a bonus. BetCoin is also loved for its low minimum deposit and wagering amounts which are perfect for punters with low volume. The site has often been lauded for supporting a vast array of payment methods, proper regulations, quick payouts and the variety of games on offer.

CloudBet

CloudBet was established in 2013 and has been supporting betting with bitcoin since its inception. They have a thriving casino section which is frequented by players from around the planet. Players can use bitcoin to play their favourite casino games with live dealers, how cool is that? CloudBet is loved for great customer support, fair games and fully regulated operation.

UniBet

Last but most definitely not least, UniBet is a licensed sportsbook and online casino that is loved by thousands of customers. UniBet offers a delightful selection of casino and slots game. Their sportsbook section is also an excellent draw. They provide bitcoin support for deposit and withdrawals along with many other payment methods. UniBet’s 24X7 customer support is one of the highlights of their service.

Does Bet365 Accept Bitcoin?

Unfortunately, Bet365 does not accept Bitcoin at the moment. However, if one wants to use Bitcoin for deposit or withdrawal at Bet365 that can be achieved via Neteller. Directly send Bitcoins from your crypto wallet to Neteller and then use Neteller as a regular payment method. Going by the rate at which major online casinos are adopting crypto-currencies, we would not be surprised if Bet365 soon introduced that coveted bitcoin option.

All in all, in this day and age, it can be said without any doubt that crypto-currencies are most likely our financial future. And while a plethora of new crypto-currencies have emerged on to the market, Bitcoin remains the godfather in terms of stability, value, performance, and security. The online casino and online betting industries carry out millions if not billions of transactions every day and ease of use and security are of prime concern.

While most traditional and online payment methods are still in vogue, bitcoin fits the role of the new age payment methods perfectly. It is decentralized, easily transferred, accessed, used and converted, which is why we see more and more dominant online casinos slowly adopting bitcoin and other stable crypto-currencies as valid and legitimate payment methods. It seems inevitable that this trend will continue and sooner rather than later every online casino will be supporting bitcoin. Until then, there are plenty of options to choose from.

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