Blockchain Casinos

All cards have been dealt for blockchain gambling sites to take over the online casino industry. Their revolutionary blockchain technology, the same behind famous cryptocurrencies like Bitcoin and Ethereum, is a decentralized ledger database that can operate transparently in a distributed network of devices. It can also trigger certain actions that are executed only under specific conditions or rules – also known as smart contracts.

If that sounds like technical gibberish, you’re not alone. Just think of Bitcoin and other cryptocurrencies as a fancy programmable form of money. Blockchain is, then, the database where all transactions are registered. Since it has millions of copies stored on many different computers, it’s a decentralized database. Because of that, it can be verified by just about anyone – hence its transparency. That’s about it.

Whether people like cryptocurrencies or not, its core technology, blockchain, has come to stay – and it will improve many industries in ways we can’t quite fathom yet. What’s more, if you’re interested in blockchain casinos and don’t want to pay using Bitcoin or other coins, that’s fine. Several blockchain gambling sites with provably fair casino games also accept fiat currencies like the U.S. Dollar ($) or the Euro (€).

Provably fair games allow you to confirm, in some way or another, that the game you are playing is indeed using a Random Number Generator (RNG). This is an acceptable way of ensuring the casino is not partaking in any questionable practices. While you can also choose to play games manufactured by reputable providers, provably fair games are a viable alternative, particularly when trying new games.

Cryptocurrency casinos are more than just websites where you can gamble with Bitcoin. Not only can they guarantee an optimal player experience – keeping up with the highest standards in the industry – but they can also offer several other payment options. If you’re really into cryptocurrency gambling and own more exotic coins, then you’ll be glad to hear that the following are also widely accepted: Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), and Tether (USDT).

If you’re into the anonymous side of cryptocurrency gambling, then even Monero (XMR) and Zcash (ZEC) are supported by some casinos. Furthermore, depending on which casino you choose, you won’t be required to go through a KYC process, either because of its licensing or its blockchain implementation.

You can see a complete list of cryptocurrencies you can use for gambling here.

The cryptocurrency gambling trend has caught up so feverously that more traditional online casinos are now offering cryptocurrencies as a payment method. Likewise, other online casinos that started exclusively accepting Bitcoin have expanded their options to include fiat currencies. The trend is backed up by data from renowned players in the industry, such as the crypto-friendly game platform SoftSwiss, which recently divulged they reported a threefold increase in crypto gambling traffic in 2020.

There is much to say about game diversity as well. Don’t think all crypto casinos solely feature original and provably fair games: you can also find all the best titles by your favorite providers on our recommended casinos. However, we encourage you to try out the more novel casinos in this space, ripe with innovation and surprising features.

With the popularity surge of cryptocurrencies over the past years, the diversity of options at Bitcoin casinos is undeniable. Want to play live casino games using Bitcoin? You can! Would you rather discover provably fair games on an Ethereum-based Dapp? Sure! Perhaps you’re more into playing your favorite slot by NetEnt or Playtech with Litecoin? That’s an option too!

Blockchain casinos? Bitcoin casinos?

It’s common to see these two terms used interchangeably and wrongly so. At first, differences between a blockchain casino and a Bitcoin casino might be hard to spot, especially because there is no precise definition of these terms. The question remains: what are they, really?

Any traditional online casino that accepts Bitcoin (BTC) as a form of payment can automatically be considered a Bitcoin casino. When playing at such a casino, you’re using the blockchain to transfer funds.

However, cryptocurrency gambling per se is just scratching the surface of blockchain technology, which has nearly unlimited potential. Casinos can incorporate the blockchain into their core structures, thus becoming a true blockchain gambling hub.

On one end, we have casinos that include cryptocurrencies as a payment option. On the other end, the casino can resort to smart contracts, automating payments for each game and making your winnings instantly available in your wallet. In this more extreme view of cryptocurrency gambling, the mere idea of deposits and withdrawals is irrelevant.

This dichotomy is something we consider extremely relevant when evaluating the casinos we recommend here at CasinosBlockchain. Read our reviews if you want to know more about how each casino incorporates this technology into its platform.

One of humankind’s oldest activities, gambling, has existed, in some form or other, since the dawn of time. Online gambling, however, is a relatively new product, and so are cryptocurrencies. It is, therefore, unsurprising that the general public and governments still treat blockchain gambling as a novelty. And while gambling itself is almost always regulated, blockchain casinos are often not.

As a rule-of-thumb, if fiat online gambling is legal in your country, so is blockchain gambling, although often under specific restrictions. For instance, countries like the United States and the United Kingdom require all online casinos – including those using blockchain technology – to apply for a local gambling license.

On the other hand, in many countries where gambling is illegal, ‘cryptocurrencies’ are not legal forms of tender. Betting or playing casino games with coins such as Bitcoin may not be considered gambling because you’re not playing for ‘legal’ money.

Overall, there is no straightforward answer to the question: is blockchain gambling legal. It depends on where you live. In countries where online gambling itself is illegal, there is a seemingly clear answer: no. However, as we explained above, even in this purportedly straightforward scenario, it’s not all black-and-white.

Not exactly. Blockchain gambling still sits in a legal grey area in many countries, especially those that haven’t regulated online gambling. In such places, no local gambling licenses are available, meaning that they’re not legally required.

Some governments offer so-called ‘international’ gambling licenses to fill in the gap. While these international licenses do not overrule local legislation, they still protect players: they oversee the casinos and ensure they keep the customer’s best interests at heart.

Two examples of international licenses are:
– Curaçao gambling licenses
– MGA (Malta Gambling Authority) licenses

Do note that neither Curaçao nor Malta cater specifically to blockchain or crypto casino players. Instead, they are more generic licenses covering online gaming, from traditional casinos to modern sports gambling websites.

Unlicensed casinos are often less restrictive than their licensed counterparts and often allow players worldwide to open an account, including from countries where online casinos are restricted. For this reason, many blockchain gambling enthusiasts prefer them. However, at an unlicensed casino, crypto or otherwise, no entity validates game fairness or advocates for players’ rights if they suspect foul-play on the casino’s part.

It’s generally unsafe to play at crypto casinos that don’t hold a license, which is why we hardly ever recommend them. Instead, we firmly believe you should always play at licensed casinos when you have the chance.

But can you ever play anonymously at a licensed blockchain casino? Not quite. Licensing bodies often require the casinos to have strict customer verification procedures, to prevent identity fraud and money laundering. While disruptive, these procedures help foster a safer, more responsible gambling environment.

However, players looking for a genuinely anonymous blockchain gambling experience can still find it at a few reputable websites.