You’ve probably heard a wonderful story about a guy who spent 10,000 bitcoins on a pizza in 2010. Then it was only 25 bucks! Today, for this amount of BTC, one could buy a delightful island off the coast of Florida. Hopefully that pizza was really tasty.
Now it is a whole ecosystem with its own leaders and no-names. It is enough to know that a bitcoin wallet will come in handy on dozens, if not hundreds, of casino sites with cryptocurrency games and bitcoin gambling.
It is noteworthy that this wallet can be used not only in traditional online casino games like blackjack, poker, roulette and craps.
Duckdice promotions can be timed to coincide with any more or less interesting event. Thanks to this, the page with bitcoin bonuses often receives updates – the release of a new film, the conclusion of cooperation or the addition of new games on BTC can easily become a reason to launch another promo.
It is too early to say that the current gambling ban does not apply to bitcoin casinos, however, certain legal grounds for upholding such a position clearly exist.
Games where bets are paid in Bitcoin are very attractive for entrepreneurs for several reasons:
1) operations using cryptocurrencies are uncontrolled, primarily by the state;
2) such transactions are not subject to financial monitoring and are often not taxed;
3) often such activities are not subject to licensing or obtaining any other permits.
Obviously, there are a number of benefits for players as well:
1) bitcoin games are anonymous, which means there is no verification of the identity of the players when withdrawing funds;
2) transactions, as a rule, do not take a significant amount of time to process them;
3) low, in many cases zero, transaction costs;
4) there is no need to carry out a currency exchange to place bets or withdraw funds.
Summing up, it should be noted that it is difficult to determine clear legal grounds for gambling using bitcoin at this stage. We cannot confidently and unequivocally say that holding such games is illegal, however, the legality of this activity is questionable. Despite this, the bitcoin gambling industry still continues to develop actively, which means that the actively growing crypto market requires clear regulation rules.
The BitStarz deposits will not be ignored: for the first four deposits in bitcoins, a player can receive up to 5 BTC as a bonus. For beginners, there is even a special tournament called the Welcome Freeroll, where € 1,000 is played every week.
BitStarz is famous for its large-scale adventure quests, where juicy prizes and large sums of money are constantly raffled off. The winners of these quests usually receive paid travel, cars or prizes like € 10,000 with no wagering requirements.
Bitcoin and bets
After drugs, gambling is the second most commonly associated vice with cryptocurrencies. Although Bitcoin has many applications, it is no coincidence that the first “killer application” for Bitcoin was Satoshi Dice, a dice portal. Due to the fact that the cryptocurrency has no national character, is suitable for cross-border money transfers and is anonymous, it is perfect for settlements in online casinos. There are dozens of platforms that exclusively accept cryptocurrency.
It is difficult to estimate the size of the black market for sports betting in the United States, but it is believed to be in excess of $ 80 billion a year. For US players looking for ways to bet on their favorite sports, various foreign sites provide an opportunity to fulfill their desires. However, using a credit card for such purposes increases the risk of data disclosure and loss. Cryptocurrencies can mitigate some of these risks, but customers are still required to log into a centralized online betting platform and disclose their personal information.