Bitcoin

Bitcoin (BTC) is a digital currency that runs on a public network rather than through a bank or card company. At an online casino, you deposit by sending bitcoin from your wallet to a deposit address the casino gives you. Players tend to choose it because the payment does not involve a card or bank account. Many casinos also accept other coins such as Litecoin, Ethereum and Tether. Availability and rules depend on where you live: you must follow the laws of your own country or state, and casinos that accept crypto may be licensed differently from local ones. The casinos listed below accept Bitcoin, but always check that gambling online is permitted where you live.

Getting Bitcoin and a Wallet

To pay with Bitcoin you need two things: some bitcoin, and a wallet to hold it. You can buy bitcoin through an exchange, an app, a website or a cryptocurrency ATM. An exchange is a service where you pay with a bank transfer, card or other method and receive bitcoin in return. A wallet is what you use to send and receive it, and it has addresses, which are long strings of letters and numbers.

Custodial or self-custody wallet

With a custodial wallet, such as the account an exchange gives you, a company holds the bitcoin for you. This is simple, but you rely on that company. With a self-custody wallet, you control your own funds, and Bitcoin.org says that with a wallet that gives you full control, no third party can freeze or take away your funds. The trade-off is that you are responsible for securing and backing up the wallet. If you lose the device and have no backup, the funds may be unrecoverable.

Whichever you choose, keep your recovery information safe and private. For an overview of wallet types, see the wallet guide on Bitcoin.org.

How to Deposit Bitcoin at an Online Casino

The screens differ between casinos, but the process usually looks like this:

• 1. Get bitcoin. Buy it through an exchange or other service and move it to a wallet you can send from.
• 2. Open the cashier. Log in to your chosen casino from the list below and go to its deposit or banking section.
• 3. Pick Bitcoin and copy the address. Select Bitcoin and the casino will show a deposit address, often with a QR code. Copy it carefully, or scan the code, and check that it matches what the casino displays.
• 4. Check the coin and network. Make sure the casino expects Bitcoin and that your wallet is sending Bitcoin. If the casino lists a minimum amount or other instructions, follow them.
• 5. Send and wait for confirmations. Enter the amount in your wallet and send. The casino credits your balance once the network has confirmed the payment, which can take a short time or longer depending on the casino and network conditions.

If you are unsure, send a small test amount first. A Bitcoin transaction cannot be reversed, so check the address before you press send.

How to Withdraw Bitcoin

Withdrawing is the same process in reverse: you ask the casino to send bitcoin to an address from your own wallet, and it sends the payment. Casinos set their own rules, including minimum and maximum amounts, processing times and which methods they offer, so read the cashier and terms pages before you deposit.

Even though Bitcoin needs no bank details, casinos may still ask you to verify your identity before paying out. Completing verification early can avoid delays.

Fees, Speed and Confirmations

Network fees

When you send bitcoin, you pay a network fee. The sender chooses it, and wallets usually suggest an amount. The fee is related to the size of the transaction in bytes, and fee levels vary over time with network usage. If a transaction pays a fee below what the network is currently prioritizing, it may take considerably longer to confirm.

Confirmation times

New blocks are added to the blockchain about every 10 minutes on average, but Bitcoin.org says there is no guaranteed minimum or maximum delay. It lists 6 confirmations as the minimum recommendation for high-value transfers. Casinos set their own requirement, which may be one confirmation or several.

Exchange fees

Buying bitcoin through an exchange or other service often comes with its own fees, and a service may also charge to send bitcoin out to your wallet. These vary by provider, so compare the total cost before you buy.

Price Volatility and Risk

Bitcoin.org notes that the price of a bitcoin can unpredictably increase or decrease over a short period of time, and says it should be treated as a high-risk asset. For a player, that means the value of your bitcoin in your own currency can change between the day you deposit and the day you withdraw, in either direction. Only use money you can afford to lose.

Payments are also final. The US Federal Trade Commission warns that cryptocurrency payments typically are not reversible, and that you can usually only get your money back if the person you paid sends it back. If you send bitcoin to the wrong address, no central authority can undo the mistake. Always double-check the address and the coin.

Pros and Cons

Pros

• No card or bank details are needed to send a payment to a casino.
• Works across borders, and many casinos offer it.
• With a self-custody wallet, you control your own funds.

Cons

• The price can change quickly, so the value of your balance can rise or fall.
• Transactions cannot be reversed, and a mistake may mean lost funds.
• Network fees and confirmation times vary with demand.
• You need to learn how to use an exchange and a wallet, and keep them secure.
• Casinos and exchanges may still require identity verification.

Bitcoin FAQ

Is Bitcoin gambling anonymous?

Not fully. Bitcoin.org says Bitcoin is not anonymous and cannot offer the same level of privacy as cash. All transactions are stored publicly and permanently on the network, and while an address does not show a name, identity can be revealed through a purchase or similar circumstances. Reusing the same address also makes it easier for others to link your payments. Exchanges and casinos often ask for ID as well.

Is it legal for me to gamble with Bitcoin?

That depends on where you live. Rules on online gambling and on crypto differ between countries and regions, so check your local laws. Paying with Bitcoin does not change the rules that apply to you.

What if I send bitcoin to the wrong address?

Bitcoin has no central authority to reverse a mistake, so you may not be able to get the funds back. Check the address before sending, and test with a small amount if you are unsure.

Gamble responsibly: casino games are for players aged 18 or over. Set a budget before you buy bitcoin and only spend what you can afford to lose.