How Are Bitcoins Transforming Online Gambling in the UK?
Online Bitcoin Casinos
Bitcoin value jumped from $ 0.0008 in July 2010 to $ 32 085 in Jan 2021. This massive leap in the value of bitcoin in just a decade has opened multiple doorways of bitcoin transactions, right from payment methods to online casinos. Bitcoins are used for gambling, gambling, lotteries, sports-based betting, and boost betting online casino platforms. Online casinos offer similar games that any fiat casino would suggest, but bitcoin casinos let players transact through bitcoins instead of traditional casino tokens.
Types of Bitcoin Casinos that Attract Players From the UK
Online casinos bring the same flavor as the traditional casinos in terms of features like – free spins, bonuses, game collection, gameplay, bets, slot games, etc. The following are a few casinos that are popular in the UK.
1. Pure Bitcoin Casinos
Pure Bitcoin casinos were the first to introduce the cocktail of casinos and bitcoin to the world. These casinos function on completely automated blockchain technology through a distributed network. They develop their unique version of games, but its lackluster gaming interface is a repelling factor. Pure bitcoin casinos emphasize the integrity of the game and hence offer a greater degree of transparency.
2. No Deposit Casinos
The casinos offer a creative interface and unlock satoshi upon registration with casinos. Free satoshi means giving away free points (satoshi faucets) to let players try new games without paying extra money to allow the users to get a trial run of the game. These casinos will enable the casino players to play real-money games without depositing anything. Some casinos don’t offer bonus to no deposit games to encourage gamers to play with free satoshis instead.
3. Deposit Bitcoin Casinos
This casino works by dispensing free satoshi after depositing the minimum amount of the bitcoin in the account registered with the casino. In return, not only can players gain access to bitcoins slots and table games, but these games open up multiple free trial games that give a glimpse into new games. This category offers a bigger window of opportunity to win sizable prize money for the players.
4. Hybrid Casinos
Hybrid casinos were designed to overcome the shortcomings of pure bitcoin casinos and offer speedy withdrawals and impressive bonuses. These casinos are subjected to stringent local laws and strict KYC documentation to maintain security and fairness. Hybrid casinos are licensed and can’t function in the restricted geographical boundaries prescribed by law.
5. Online Casinos That Accept Bitcoins
Online casinos are known for fast deposits, quick withdrawals and offer a user-friendly interface. You can access their services using the website or app.
6. Bitcoin Casinos With a Bonus
These casinos require gamblers to make a deposit, and in return, it disburses a fair amount of bonuses. These casinos run a loyalty program that offers points exclusively to regular players, later converted into bitcoins. Sometimes, with just a minimum deposit of 0.01 bitcoin, it is a steal at this price.
Future of online bitcoin casinos in the UK
The increasing value of bitcoin and media attention has played an instrumental role in popularising casinos. The bitcoin casinos are highly regulated in the UK. This safeguards the interest of the gamblers, which in turn encourages the players to indulge in the game. If a regulatory body such as the Gambling Commission is taking the necessary measures to make the bitcoin casinos adhere to safety parameters in the UK, it hints that the crypto gambling space will thrive in the long run.
With the rise in popularity, the service providers will be compelled to deliver competitive offers and bonuses that will further create a better atmosphere for these casinos to flourish. The mass adoption of cryptocurrency has led big-name casinos in the UK to plunge into this field. Another aspect that has taken online bitcoin casinos by storm in the UK is the blockchain technology that provides a robust security system, transparency of the transactions, anonymity, and protection against hacking. The inclusion of bitcoin in popular games like bingo and slots has also driven UK citizens towards these casinos.
Find out more details about bitcoin casinos before you start online gambling.
Following factors are the driving force of the online bitcoin casinos in the UK:
Bitcoin wallet id is all required to participate in online bitcoin casinos. Since these wallets are not linked with any personal details, it proves to be a safe platform for gamers interested in anonymity.
Players can get by with a minimal verification process either at the beginning of the game or when withdrawing the bitcoins that ease the process for casino players.
Zero Transaction Fees
Bitcoin casinos don’t have any transaction fees irrespective of the payment methods like- bank transfer, debit card, credit card, money wallet, etc.
The deposit fees are as low as 5 Euros, allowing the players to bet less and earn more.
The deposit and withdrawals are effected within a few seconds to a few minutes and on rare occasions, that might take up to 24 hours. In comparison, the mainstream casinos’ processing timings take about 72 hours to two weeks.
Bitcoin is the future currency that makes online bitcoin casinos have a promising future. Regulatory bodies’ multiple advantages and involvement provide credence and safety to online bitcoin casinos. The online bitcoin casino industry is rising, and numerous entrants will exploit the opportunity by enticing gamblers with a seamless and user-friendly interface and exciting bonuses and prize money.