Blockchain in the Betting World

For years casinos have catered to gamblers ready to experience the rush of risking money for rewards or losses.

14:00 19 November 2018

When Blockchain entered the digital scene as an online ledger for Bitcoin exchanges, the traditional form of gambling began to transform.

This technology has begun to redefine the way we exchange money, and as of recently, the way we gamble. Bitcoin gambling offers greater privacy by using digital currency as opposed to traditional currency. Bitcoin gambling is legal, the gaming sites are faster, and there are rarely transaction processing fees.

Instead of using banks or any other financial authority, Bitcoins are a peer to peer exchange technology. Bitcoin gambling is convenient, and allows you to remain anonymous as opposed to the personal information required for a bank account.

Gambling using digital currency has spread to sports betting as well. During the 2018 FIFA World Cup, the first decentralized pool betting on Blockchain was done by BitGoals – a company that provides multi-platform tokens for all sports betting. The peer to peer pool bet allowed gamblers to bet tokens based on their team selection. When the World Cup winner was declared, the pooled tokens were evenly distributed to those who won.

Sites like bitbonuscode.com even provide bonus codes for the 4 major online Bitcoin casinos - Bitstarz, Betchain, Bitwin, 1xBet, and Luckbox. Not only does this site give you everything you need to know about betting with Bitcoin, it also gives you information about each site. You will be able to easily navigate through each site to make sure you have the best chance of winning.

The bonus codes are offered as sign up bonuses when you register with Bitcoin casinos. When you receive the bonus, you will already have a Bitcoin deposit into your account.

Taking advantage of bonus codes and educating yourself about each site and Bitcoin gambling trends will help you win more Bitcoins and ultimately become more successful. The more Bitcoin infiltrates more industries, the more prevalent it will become.

Outside of the casino environment and sports arena, Bitcoin still offers a platform for betting on anything. Random predictions of world events, weather patterns and celebrity break-ups are among the betting topics that have been wagered on in the Bitcoin gambling world.

Why Bitcoin Gambling?

Bitcoin gambling continues to separate itself from traditional gambling with its ability to get rid of the “middle-men.” In a casino, the gambler is betting against the house, which can be skewed in the house’s favor. But with bitcoin gambling, the ability to bet amongst peers removes the need for a middle-man.

The most important benefit is how quickly you get your funds. If you receive a check or have money transferred into your account, it can take days to actually show up. With Bitcoin gambling, the exchange is almost instantaneous.

Since it’s so easy to use and with the increase of online casinos that focus exclusively on Bitcoin users, more people are choosing Bitcoin gambling over traditional options. But just remember, every Bitcoin casino is not created equally.