Live online casinos use real dealers and video streaming technology in an
effort to replicate the kind of tension and excitement you might experience in
a real-world casino like those in Las Vegas or Monaco. In recent times, this
concept has evolved further with the rise of Bitcoin live casinos, sometimes
known as crypto casinos.
As the name suggests, participating in a Bitcoin casino live means using Bitcoin
or similar cryptocurrency to play real-time casino games with live dealers.
However, the benefits extend beyond this into areas like privacy and security,
while also facilitating real-time payouts and lower transaction fees.
In this article, we will take a closer look at Bitcoin live casinos, how they
function, why these casinos are gaining popularity so rapidly and what the main
advantages are for players.
In simple terms, a Bitcoin live casino is an online casino, offering games like
blackjack, roulette and baccarat. However, rather than using fiat or
government-issued currencies, like US dollars, British pounds or Euros, you
place your bets using your Bitcoin wallet and receive payouts using Bitcoin
too.
The basic process is as follows: the player creates an account with the casino
and deposits Bitcoin into their casino wallet. They play games using this
Bitcoin and receive winnings in Bitcoin too. In many cases, the process for
receiving winnings happens in real-time, using a smart contracts system to
automate payouts.
Bitcoin live casinos can function as websites or mobile
apps
and are bolstered by the numerous benefits associated with blockchain
technology. These casinos also have live elements, improving the experience for
players.
Bitcoin and other cryptocurrencies make use of blockchain technology. A
blockchain is a decentralised digital ledger, where transactions are stored
across a network of computers. No single entity is responsible for the
blockchain and transactions are transparent, permanent and cannot be altered.
This underlying blockchain technology is why Bitcoin is becoming so popular. It
enhances the security and trust behind financial transactions. Also, with a
Bitcoin live casino, you will not be handing over personal information, like
your bank details or credit card information, which protects you from various
online security threats.
As these transactions are not connected to your name, credit card or bank
details, there is also built-in anonymity.
Aside from the use of blockchain technology and cryptocurrencies, the other
defining trait of Bitcoin live casinos is the presence of live online casino
games, like blackjack and roulette. These games are played with live dealers,
enhancing the transparency of the games and helping to replicate the feeling of
playing in an in-person casino.
Live casinos make use of video streaming, so you can see the dealer while you
play. The dealer will be a professional croupier, who is tasked with managing
the game and interacting with players. High-definition video streaming can
enhance the immersion, keep latency to a minimum and create the sense of fun.
There are a variety of benefits associated with Bitcoin live casinos,
especially when compared to online casinos that operate using conventional
government-issued currencies. Understanding these advantages can help to
explain why crypto casinos are gaining popularity so quickly and why they
appeal to players.
One of the big selling points of Bitcoin live casinos is the built-in anonymity
and privacy features. This is primarily linked to the use of cryptocurrencies,
rather than traditional currencies. Bitcoin transactions are defined as
'pseudonymous' because the transactions are linked to your crypto wallet,
rather than your real-world identity.
When gambling at a Bitcoin live casino, there is no need to provide personally
identifying information, including bank details, which means you can keep your
activity more private than with conventional online casinos.
This makes Bitcoin live casinos an ideal choice for situations where you do not
want your gambling to be connected to your real name and bank account, for any
reason. It also limits how much personal data the online casino holds about
you, which can reduce the risk of having your personal information exposed in
the event of a data breach.
In addition to the privacy associated with Bitcoin live casinos, there are also
inherent security advantages associated with using these platforms instead of
traditional casinos. Blockchain transactions are decentralised and fully
transparent. They are also immutable, which means transaction records cannot be
deleted, altered or tampered with.
With Bitcoin, there is no single point of failure, because records are
distributed across a network and no single entity controls the blockchain. As a
result, a system failure at the casino will not affect your payouts.
The nature of blockchain technology and Bitcoin as a currency means Bitcoin
live casinos are highly resistant to fraud. You do not need to hand over
sensitive information, like credit card or bank details, meaning the financial
risk is greatly reduced in the event of a cyber attack. Reputable Bitcoin
casinos will also make use of secure encryption.
A huge advantage of using blockchain technology to underpin Bitcoin live casino
transactions is the lack of a need for intermediaries, like banks or mobile
wallet services. By leveraging this technology, live Bitcoin or crypto casinos
are able to provide real-time payouts, without the delays you experience at
other online casinos.
One of the ways casinos can deliver this kind of real-time payment is through
the use of smart contracts. Essentially, these contracts allow a payment to be
automatically sent to your crypto wallet once the terms of a win at the casino
are confirmed, which should happen as soon as the game is finished.
Crucially, there is no need for manual intervention from human casino staff in
this process. The payment does not need to be verified by an agent and you
receive your winnings immediately.
When compared with conventional currencies, a significant plus point associated
with Bitcoin is its borderless nature. This means Bitcoin is the same from one
country to the next and is not subject to conversion rates and other issues
that can impact people spending money across international borders.
Ultimately, this means Bitcoin live casinos can support global accessibility
and develop a diverse customer base, made up of people from all around the
world. Players can typically join a casino - local laws permitting - regardless
of whether or not it is based in the same country as them and without suffering
financial penalties.
With conventional currencies, there may also be delays in making deposits or
withdrawals from overseas. This is circumvented with Bitcoin casinos, which
typically support real-time deposits and payouts.
Many online casinos using fiat or government-issued currencies have hidden fees
built into their service. This is because the casinos may run into fees of
their own when dealing with third-parties, including banks and other
intermediaries. As a result, some of these additional charges end up being
passed onto the customer.
On top of this, you may also encounter charges when you withdraw your money.
This is especially true if you are withdrawing from a casino in a different
country, using a different currency from your own.
With a Bitcoin-based offering, there is far less of a need for casinos to add
transaction fees and other hidden charges. You add money to your account in
Bitcoin, withdraw in Bitcoin and are able to keep the money you win.
It is important to make sure you are choosing reputable Bitcoin live casinos
like Bitcasino, rather than spending your money with
less reputable establishments or options with limited customer support.
A relatively simple way to do this is to take some time to check for gambling
authority licenses on your chosen casino. If the casino is trustworthy, this
information is usually presented clearly on the website, often at the bottom of
the home page. If you are unable to find licensing information, this could be
an immediate red flag.
Make sure the website uses HTTPS encryption, which should be evident by
checking the address bar after the website loads. You may also want to consider
the range of live casino games on offer and check online reviews of the mobile
app to get a sense of whether the casino offers a positive experience for
players.
Bitcoin live casinos aim to recreate the kind of experience you would get in a
real-world casino, with live dealers controlling the game and managing
interactions with players. At the same time, the use of blockchain technology
introduces new safety, security and anonymity benefits when compared to other
online casinos.
As Bitcoin is decentralised and borderless, it means these casinos can build a
global player base and issue real-time payouts, without the kind of delays and
transactions fees associated with conventional banking. Furthermore, these
casinos greatly reduce the amount of personally identifying information players
need to hand over.
