With the recent rise of cryptocurrencies such as Bitcoin, Litecoin and Ethereum, a few of the online casinos also allow deposits and withdrawals in such digital currencies. While information about such platforms is abundant over the internet today, it is important to perform adequate research before selecting an online casino that suits your needs.†
The best bitcoin casino usually have common features that you must look out for. These include privacy rules, easy withdrawals and a high variety of casino games. The top five factors that you should consider before choosing an online casino are discussed in the paragraphs below:
- Withdrawal and Deposit Mechanisms:
It is recommended that you research the withdrawal and deposit mechanisms before you opt for a casino platform to invest in. It is because, while such platforms may allow you to deposit in multiple types of currencies, the withdrawal systems might be limited to the currency of your home nation. In India, this means that even if you can withdraw and play using your cryptocurrencies such as bitcoin, ether and doge, you may not be able to withdraw in the same. This may lead to unforeseen losses and transaction charges.†
- Variety of Casino Games Offered:
While most of the crypto casino platforms offer a wide range of games such as bitcoin slots, roulette, arcade, and table-top, to name a few, not all of them can be played with cryptocurrencies. Review the risk and stake profile associated with the different games. A few top Bitcoin Casinos also come with an interactive sportsbook for effortless crypto betting in sporting events and their results. These sports include national and international football matches, premier cricket tournaments, basketball, baseball, MMA, and eSports such as FIFA and eWrestling.†
- Licenses and Regulation:
While there are many crypto gaming and bitcoin casinos online, not all of them are licensed or regulated by a governing body. You must read reviews and the company policy before choosing the platform that suits your live casino needs. When such a platform is licensed, it means that it has been thoroughly checked and audited by a governing body such as the Malta Gaming Authority or the United Kingdom Gaming Authority. This means when you add to your digital wallet on the platform, you donít need to worry about lost funds. Your transactions are secured and protected during withdrawals as well.
- Consider the Bonuses and Rewards
†Especially for games where you can place bets and win rewards based on your prediction, you must understand the limits and payout policies. Many elite bitcoin casinos give you extra rewards based on the number of people betting on the odds. For instance, for a football match between Liverpool and Real Madrid, if more people have bet on Liverpool winning the match, the reward odds will be higher for Real Madrid. There may also be some added deposit bonuses and betting rewards provided by the top platforms.†
- Availability of a Mobile App and Ease of Use
While most major bitcoin casinos and live sportsbook betting platforms have a website, these are usually basic and not user friendly. Only a handful of the best crypto betting platforms have an interactive web app and a mobile app. This ensures greater mobility when placing bets and easier use directly from your phone. The user experience is paramount for the best bitcoin casinos providing a plethora of services to their users. Only sign up on such a platform that doesnít compromise on this experience just to add offers and random arcade games.†
There are however more than five factors that make a crypto gaming platform worth your while. Just as the rewards while investing in crypto are high, playing live casino games with crypto is equally as rewarding. You can also maintain anonymity and have a record of all your transactions on the blockchain. This means your identity stays hidden while all your deposits, bets, cancellations, and withdrawals are recorded in the decentralized and secure ledger, blockchain. It is highly transparent and immutable.†
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976††
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.
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