How To Choose the Best Bitcoin Casino In 2022?
Bitcoin casinos have been highly successful since their inception a few years ago. However, it was the Covid 19 pandemic that helped them kick into high gear. Traditional casinos, like the ones in Macau, struggled to maintain revenue in the face of strict restrictions imposed by governments worldwide. Those restrictions made the last two years extremely profitable for all online casinos, bitcoin ones included, as that was the only access to gambling for a lot of people.
Of course, that is not to say that online and bitcoin casinos weren’t popular even before the pandemic. The online gambling industry worldwide was worth $61.5 billion in 2021. That number is forecast to almost double to $114.4 billion by the year 2028. While it is hard, if not impossible to determine just how much of that staggering pile of cash can be attributed to just bitcoin casinos, you can be sure it is a significant portion.
The popularity of bitcoin casinos does have one major downside. With so much money in circulation, the sector attracts a huge number of scammers trying to swindle people. Often, it is hard distinguishing between legitimate bitcoin casinos and fraudulent ones. Choosing the best bitcoin casino in 2022 is proving to be a challenge and hopefully, this guide will help you with the process.
How To Choose the Best Bitcoin Casino In 2022 – Overview
How Do Bitcoin Casinos work?
Check Regulatory Compliance
Check Bitcoin Casino’s Reputation
Check Bonuses
Check the Games
Check Customer Support
Conclusion
How Do Bitcoin Casinos Work?
Before we get to the criteria for choosing the best bitcoin casinos, we need to learn a thing or two about them. Bitcoin was first used in an online casino in 2012. Soon after, IFG, one of the leading developers of casino games, obtained a patent that allowed users to play their slots with bitcoin. The idea proved popular and today, a decade later after its first use, more than a third of all online casinos – and a good number of brick-and-mortar ones – accept bitcoin and other cryptocurrencies.
There isn’t much of a difference in how bitcoin casinos work compared to regular online casinos, except for the way how you make a deposit. Bitcoin casinos will let you do it with cryptocurrency, so you can use your bitcoin, Ethereum, or other digital coins to do it. Most bitcoin casinos will also accept more traditional forms of payment, like bank transfers or credit and debit card payments, but some won’t. There is a small number of online gambling platforms that deal exclusively in bitcoin and altcoins. If you plan on playing with both bitcoin and fiat currency, it would be a good idea to check whether a casino accepts them before making an account.
Check Regulatory Compliance
Despite what some people believe, the world of online gambling is heavily regulated in most countries. Various governmental regulatory bodies worldwide check several factors before issuing a license to an online casino. Things like suitability of owners and executives, fairness of games, accountability, prevention of underage gambling, complaint-handling procedures, and several others will be closely scrutinized, and based on results, a permit will be issued or denied. Bitcoin casinos face the same procedures and are also subject to regular controls and inspections.
Usually, online casinos are required to display information about regulatory compliance prominently on their sites, like the license number and the name of the agency that issued it. This should be the first thing to pay attention to. If such information is missing, it is a massive red flag and we would recommend staying away from that casino. You can use the license number to crosscheck the casino’s legal status on the site of the regularity agency. If everything appears in order, proceed to the next step.
Check Bitcoin Casino’s Reputation
Unfortunately, even casinos that are fully compliant can sometimes engage in some shady practices just this side of the law. In your search for the best bitcoin casino 2022, you will probably run into one or two such establishments. The best way to recognize them is to spend some time reading online reviews.
When reading online reviews, it is important to distinguish between real complaints and bogus ones. For instance, if a player accuses the casino of fixing games, citing their inability to win, chances are they just had a string of bad luck. As we mentioned, game fairness is one of the things that is regularly monitored and the chances of a casino risking its license by fixing games are minuscule.
On the other hand, if you see several users complaining about the inability to withdraw money, you should pay attention. This is a common trick used by unscrupulous online casinos, which they use to delay payments as much as possible. They aren’t breaking any laws, as they don’t outright refuse to give you your money, but impose ridiculous waiting periods that can be very frustrating. Unless you like being forced to jump through hoops for your own hard-earned cash, you should stay away from them.
Check Bonuses
The competition in online gambling is fierce and bitcoin casinos fight for each player tooth and nail. One of the best ways they have come up to attract new and keep old ones is by offering generous bonuses. There are several types of online casino bonuses and you need to compare them to see which casino offers the best ones.
Almost all bitcoin casinos will offer a welcome bonus to new players. It is usually in the form of money, but many will also throw in free spins or some other freebie. Next is a matching bonus, given to players when they make their deposits. Usually, casino will match your first deposit up to a certain amount. Some will even offer partial matching for every deposit you make, to reward players and inspire loyalty.
To prevent players from simply taking a bonus and running away, bitcoin casinos have come up with a concept called wagering requirements. It stipulates how much betting you need to do before you can withdraw your money. For instance, if a bonus of $100 comes with x10 wagering requirements, that means you need to make bets in the total value of $1,000 before you can take your money. This is why some more experienced players choose to stay away from them and only use their money to play. Checking the wagering requirements is a must before you decide to take the bonus.
Check the Games
Even the best bitcoin casino won’t be very good for you if it lacks your favorite games. Some bitcoin casinos carry only a limited number of game titles, due to various copyright and licensing issues. Even if you like those games, it is always good to have a choice, in case you get bored with them later. That is why we always recommend checking the list of games a casino offers to its players before signing up.
Make sure you check all game categories that are important to you, like slots, table games, live casino games, and others. That way you can make sure that there is always something interesting to play and you won’t spend all your time looking for something fun to spend time on. That way you can avoid going through the process of finding the best bitcoin casino again, creating an account, and making a deposit in a new one. Chances are you will simply find something else to do with your time.
Check Customer Support
Customer support is one of those things we usually don’t pay much attention to until we need it, and then it can be too late. There is a fairly good chance that you will end up with customer support from hell that is either unreachable or completely interested in resolving your issue. To avoid that, check online reviews for people who have experienced dealing with it first-hand. There are several things to pay attention to, like modes of communication, response times, and overall success of the interaction.
Conclusion
Choosing the best bitcoin casino in 2022 can be a lengthy process, but you should approach it carefully. After all, you will give your money to these people and you want to make sure they are on the level. The process of signing up for a new bitcoin casino can be tedious and you want to get it right the first time.
