Reasons Why Bitcoin Gambling is on the Rise

Jump to page contents

Reasons Why Bitcoin Gambling is on the Rise

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Online casinos have been pioneers of innovation and technology. Therefore it’s not surprising that a good number of online casinos are offering bitcoin gambling games. The main reasons for adopting bitcoins in the gambling industry hang on the multitude of possibilities that bitcoin affords both online casinos and gamblers. Below are the reasons for the rise of bitcoin casinos.

1. Anonymity

If there is only one thing most people would not forget about bitcoins, it is the fact that bitcoin does not reveal users’ identity. User identification is quite a concern for some gamblers in particular countries. This particularly rings true, where gambling activities are used as key determinants of how much loan or credit facilities are available to the gambler. Anonymity may offer gambler better credit standings.

Since most bitcoin gambling sites such as Syndicate Online Casino, require only your bitcoin address, users’ gambling history may be concealed effectively. Also, if a bitcoin gambling site gets hacked, players need not worry as none of their details would be saved on the site itself.

For online casinos that require registration, a hacking incident can cause lots of worry to players who have supplied their details.

2. Freedom

Many online gambling casinos that accept fiat currencies have geographical limitations and regulations on players. For instance, players from some particular countries may not be allowed to play their favourite games. However, bitcoin casino games remove most of these restrictions as players can circumvent regulations and continue to play their games unhindered.

The new-found freedom for gamblers also bodes well for the bitcoin casinos as they get more patronage and reputation in the business.

3. Low fees

Many online slots for cash offering bet games in fiat currency charge withdrawal and third party fees. Since third parties are reduced in bitcoin casinos, there is no need to pay such fees. However, during each transaction, bitcoin users are required to pay a compulsory transaction charge. Bitcoin transaction charges are generally lower when compared to transaction charges from fiat currency alternatives.

4. Reduced Risk

Many people acquire bitcoins either through mining or as a gift from peers. The use of such bitcoins instead of fiat currency minimizes the risk of going bankrupt as a result of poor gambling habits.

5. Opportunity To Increase The Value Of Wins

Due to the price volatility of bitcoin, many gamblers are taking advantage of increasing their cash-out value. For example, a gambler wins one bitcoin, which was worth $8500. If he leaves the bitcoin in his wallet for a few days and the value of 1 bitcoin goes up to $9000 and above, the gambler has added at least $500 value to his winnings if he converts the bitcoins to cash at the given instant.

6. Access To The Use Of New Technology

Gamblers who are new to the bitcoin scene can gain more experience and knowledge through the use of online bitcoin gambling sites. Once the new entrants understand how bitcoin works, they can then join other people around the world who are using the bitcoin platform to their advantage.

Also, as many bitcoin casino games are being integrated into blockchain, gamblers can be sure they cannot be cheated, since it’s a reliable platform. Once a gambler is lucky enough to make a win, he or she will surely get paid.

As blockchain technology gets more advocates globally, it is more likely for online casinos to find more ways of integrating their games to enrich players’ experience. Syndicate Casino predicts bitcoin gambling will keep transforming the online betting space until something new comes up.

Can you give us your thoughts on your first bitcoin gambling experience? We’d love to hear from you!

Recently Similar Guides

Latest Guides


What are the Traits of a Bitcoin Casino?

The massive surge in popularity of cryptocurrencies such as Bitcoin has led to the flourishing of a new wave of online casinos. Bitcoin transactions are becoming more common so it was inevitable that the gaming industry would catch on to this trend soon enough. What Differs a Crypto Casino and a Regular Casino? Up until […]

2 October, 2020

What Is A Bitcoin Fork?

Bitcoin forks are an important aspect of open sourced and decentralized technology. Bitcoin forks allow users to create new blockchain platforms based off of Bitcoin’s open sourced code, but what is the point? In this guide we explain everything about Bitcoin forks, what they are used for, and why they are important for the cryptocurrency […]

28 September, 2020

What is VeChain?

So, What Exactly is VeChain? VeChain is a platform created using Blockchain technology and designed to improve existing supply chain management and oversight. The platform takes advantage of several elements of Distributed Ledger Technology (DLT) to facilitate the process of origin confirmation and quality mark of a particular product. VeChain is made up of two […]

26 August, 2020
Bitcoin,Crypto Mining,Cryptocurrency,Mining

Hash Rate Vs. Hash Power

Hash rate and hash power are two very important aspects of securing and verifying the transactions on a blockchain. What is the difference between the two? Why are they necessary for proof-of-work verified blockchains? We discuss this and more below. So, What is Hash Rate? Hash rate and hash power both relate to how a […]

20 August, 2020

Betting in Bitcoin

Since their inception at the turn of the millennium, online casinos have been at the forefront of technology adoption. From mobile gaming to automated verification and the use of virtual reality, the industry is constantly evolving. This is normally great news for players, as most innovation is a step towards a better, safer, fairer, and […]

20 August, 2020

The Next Big Cryptocurrency

Will There Ever Be A New Bitcoin? Bitcoin is the first iteration of blockchain technology and cryptocurrency to ever be created, and it is also the largest cryptocurrency by market capitalization, worth over 170 billion dollars. After more than 10 years from Bitcoin’s date of inception, there is now well over 5500 unique cryptocurrencies, hundreds […]

10 August, 2020

What is Futures Trading?

If you ever hear about fictional characters wheel and deal over futures, you must be familiar with the phrases “invest in pork bellies” or “corner the market”. The movie “Trading Places” by Eddy Murphy/Dan Akroyd climaxed over the price of a product most people forgot: frozen orange juice. How can anyone become wealthy on pre-bacon […]

5 August, 2020

The Importance of Responsible Gaming

What is Responsible Gambling? Responsible gambling is one of the most important aspects of playing online as it significantly affects the way players gamble. We’ll elaborate further on this, but first things first, let’s go through what responsible gaming actually is. Not to sound too obvious, but responsible gaming is the act of gaming responsibly. […]

27 July, 2020