Bitcoin Casino Concept and Features
Cryptocurrencies are extensively applied in the gambling sector: reliable payment systems are appropriate to the gambling industry as much as possible. How do bitcoin casinos differ from other gambling resources? What are their benefits?
What are bitcoin casinos?
Bitcoin casinos are gambling platforms where players can place bets and withdraw winnings in BTC. Some online casinos allow only this digital currency, while others offer bitcoin among other cryptocurrencies and fiat money.
Bitcoin is attractive because of the highly reliable payment system. Its transactions do not require third parties, while internal remittances are fast and cheap. Besides, cryptocurrencies suppose personal data protection by providing user anonymity.
Bitcoin casino advantages
The above-mentioned customer anonymity is not a single advantage in gambling. Bitcoin casinos are popular due to a range of reasons making them more user-friendly and reliable in comparison with common gambling resources.
- The majority of bitcoin casinos feature zero transaction fees, whereas conventional fiat casinos set limits and fees.
- Guaranteed withdrawals. The cryptocurrency specific nature strongly protects users from potential fraudulent access to wallets and from account blocking.
- A low entry barrier. Bitcoin casinos offer a pretty small and appealing sum of deposits, which is convenient for beginners.
- Worldwide access. You can play in crypto casinos and withdraw funds anywhere in the world. The transaction anonymity opens such an opportunity even to citizens of countries banning gambling.
Bitcoin casinos do not ask clients to provide all the data and pass several verification stages. What also allures players is the possibility for placing minimum bets, e.g. a couple of Satoshi: it is impossible to spend a similar amount of money, but it is quite real to multiply the cryptocurrency capital.
Reasons for operators to shift to bitcoin
Crypto casinos are profitable to players because of the anonymity and minimum bets. At the same time, casino owners also get benefits for operations and business growth.
- To launch a bitcoin casino is much easier, cheaper, and faster than a fiat gambling resource (two or three weeks instead of two months).
- A list of customers and market borders will significantly expand for operators.
- Transaction irreversibility.
- Not so tough competition as among operators of ordinary online casinos.
- You should not necessarily obtain a license to start operating on the market (but it is better to do this in order to enhance the credibility level).
- Cryptocurrencies become more and more available to population masses in different countries, thus the number of players choosing bitcoin will increase.
The market share of bitcoin casinos does not exceed 15% now, but experts predict the growth of this performance in the coming years. The main reason is cryptocurrency benefits for both gamblers and casino owners.
How to launch a bitcoin casino
To launch your own bitcoin casino, you should register the company and prepare the corresponding documentation package. The license for similar resources are not obligatory in all countries, but it is better to get it. Firstly, this step will allow players to be sure of casino reliability and be more likely to place bets there. Secondly, it will allow owners to act in a lawful manner.
Another important aspect is to determine the region where your resource will operate. It is crucial because bitcoin casinos are referred to cryptocurrency and gambling sectors. Moreover, you should take into account the country’s situation regarding the legalization of digital currencies and gambling resources. For example, you won’t be able to operate without the license, regardless of the currency type, in Germany, Denmark, and the Netherlands.
After solving legal matters, you should prepare a website and bitcoin casino software. Special software is required to conduct cryptocurrency transactions. You should choose reliable developers offering services for software integration into the system.
Selecting a game provider is not a problem now: a lot of major slot providers offer bitcoin casino products as well. The core condition for the successful start is the variety of games and the availability of the most popular ones.
How to promote a bitcoin casino
Promoting crypto casinos is no different than promoting common online casinos. Like on any other gambling resources, users appreciate the reliability, fair gaming assurance, and usability. You’d better address specialists to promote the resource seamlessly.
Key promotion methods:
- SEO for user search queries;
- Google and Yandex.Direct Display Networks (a grey area where you will have to overcome plenty of bans);
- SMM promotion and specialized publications on Facebook, VK, Instagram, etc.;
- Email marketing.
However, the most efficient way to promote bitcoin casinos is affiliate programs. The gambling market is full of various affiliate networks where you can place your ads. Cooperating with webmasters, casino owners can expect that their banners will enter specialized websites and attract the target audience.
Bitcoin casino examples
Fortune Jack. One of the oldest bitcoin casinos launched in 2014. The user-friendly venue engages players with a long list of cryptocurrencies and a welcome bonus. The minimum deposit is 0.002 BTC.
The casino boasts quick withdrawals and immediate deposits. Users will be able to enjoy daily cashback, a wide range of games, and a live dealer option.
Cloudbet. One more gambling market veteran. This bitcoin casino was founded in 2013. It was the first of its kind to allow not only to play slots in cryptocurrency but also to place sports bets. The casino supports bitcoins and Bitcoin Cash.
Users can choose among slots, poker, live games, and betting. The minimum deposit is 0.01 BTC. By the way, the casino provides gamblers with a welcome bonus and participation in the beneficial loyalty program.
mBit casino. The best possible option for newcomers desiring to explore the bitcoin casino operational concept in practice. There are 2300 games, blackjack, and live dealer solutions.
The casino supports bitcoins, Bitcoin Cash, Litecoin, Dogecoin, and Ethereum. The minimum deposit is 0.0003 BTC; a welcome bonus is available.
You will be able to discover more about the cryptocurrency impact on the gambling industry from Alex Sudadze, the founder and CEO at Bitcoin Embassy Georgia and Georgia Mining Association. The well-known crypto investor, trader, and ICO advisor will speak at Georgia iGaming Affiliate Conference on the topic: The crypto revolution in the gambling business. Join us and ask him your questions!