Bitcoin is a form of digital currency that has garnered massive popularity. Bitcoins are not printed like dollars and are held electronically and most importantly, no one controls them. People are using them to buy everything from a cup of coffee to a Tesla electric car.
Using bitcoins is an anonymous process and that is why they have become a great payment solution for online gaming websites. Players can actually use them in all types of gambling whether it is poker, lottery bingo, sports betting, casinos, or dice games.
The legal status of Bitcoins in gambling
Bitcoin currency has been around since 2008 and it has increased considerably in value over the years when it comes to fetching dollars on exchange sites. However, the biggest concern among the online gamblers is the legality of the bitcoins themselves. There is a hot debate about the legality of bitcoins especially in the gaming industry and the inability of the current gambling rules to cover this form of payment system has fueled these rumors. However, an important point to note here is that there are a lot of online bitcoin gaming websites which are already active. As these sites are still operational, this simply means that they are not breaching any laws.
The benefits of bitcoin in online gaming
After ascertaining that the bitcoin gambling is totally transparent and legal, we come to the benefits of this particular kind of gambling. Bitcoin gambling is far more interesting and intriguing because of the fact that it not a real currency but a virtual one. Following lines explain how this kind of gambling is different from the regular gambling.
Making online gambling legal
The greatest benefit of bitcoins is that it allows online gambling back to countries like the USA where it is still "illegal" to gamble online in some states. Bitcoins provide U.S. gamblers an equal chance to make considerable amount of money through online gambling. Being a digital currency, the bitcoin is sort of a commodity and therefore is hard to prove that it actually violates gambling laws of any particular country. Furthermore, it is not linked to any bank account because it is just a code stored in the personal computers of users.
Another thing that makes Bitcoins a fundamental necessity for online gambling is that they facilitate near-instantaneous transactions. Also, it is almost impossible to track the person who sends the bitcoin and the person who receives them making it secure and anonymous. Bitcoin has made online gambling more easily accessible than ever before by offering these astounding benefits.
Finding Bitcoins online gambling sites
There are hundreds of online gaming sites that allow players to gamble through bitcoins and the number is constantly increasing. Click here to find some.
Bitcoin sports betting sites
Bitcoin sports betting is an exceptional way to place bets anonymously on your favorite sports. You can find some of the best bitcoin sports betting sites here.
Use your Bitcoins to play a wide array of games anonymously. Collect your winnings anonymously back to your wallet and trade them for dollars or buy gold! Try your luck at some of these bitcoin casinos!
Playing lottery using your bitcoins is one of the easiest and probably best methods to earn as many bitcoins as possible. The online lottery sites provide you a great opportunity to earn more. COINBET.com will update lotto sites soon.
Concluding all the facts presented above, it won't be wrong if we say that bitcoins have revolutionized the online gambling industry. Now, it is up to them to make best use of this opportunity and take their success to next level using this highly innovative and productive invention of this digital currency.