Cryptocurrency gambling is experiencing widespread adoption and more users are wishing to use it for their online gaming activities. Some sites offer Bitcoin Gambling while others already offer deposits and withdrawals in various cryptocurrencies and this is something that will continue into 2021.

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It’s no longer enough to just offerBitcointransactions on your iGaming site. Some users may want the choice to switch to fiat as well and you should provide the execution of transactions in a variety of different coins such as:

• Etherum
• Litecoin
• Monero
• DASH
• Bitcoin Cash.

Cryptocurrency was once a niche market but it is now widely accepted and adopted. You can be paid in crypto, buy a house with crypto, do your weekly shop with crypto, and of course gamble with crypto. This application of the technology on everyday activities has led to peoples perception of it improving. It is now recognised as something with value, benefits, and that is secure and trustworthy. Incorporating crypto payments into your site is a must, read on to learn why…

The expected rise of Cryptocurrency Gambling

Provably fair (PF) gambling is a revolutionary system in online gambling, and it only came about because of the “invention” of cryptocurrency. It ensures complete fairness for all outcomes in gambling games by using cryptographic hash functions and mathematical algorithms. If you are new to cryptocurrencies and online sports betting this guide will give you all the necessary information to try sports gambling using different cryptos. We not only recommend the best and most trusted online sportsbooks but also show what the best cryptocurrencies are.

Those that have been seeking a greater level of privacy in their financial transactions have been increasingly drawn to cryptocurrency gambling due to its decentralized nature. Virtual currencies such as Bitcoin, Monero, Ether and various other cryptocurrencies have become increasingly more popular, particularly in the online gambling sector.

As we move into 2021, both players and operators are becoming more aware of the benefits of cryptocurrency gambling. Bitcoin Gambling Casinos and Sports betting platforms which accept crypto payments are successfully using it as a selling point and growing their client base. Additionally, other platforms and startups will show a willingness to adopt cryptocurrency as a valid form of payment.

Cryptocurrency and the Online Gambling Industry. Thanks in large part to some amazing advancements in the world of technology, there’s a new issue for each nation to contemplate in the online gambling realm. That new issue involves the use of cryptocurrency as a legal means of funding gambling accounts. Litecoin Gambling Sites. Another cryptocurrency that was launched all the way back in 2011 on Github, Litecoin is the brainchild of a former Google employee. This is another attempt at creating the same decentralized network with faster speeds. Litecoin (LTC) is an excellent alternative to Bitcoin and is being added as a payment method to more. Provably fair gambling is unique to cryptocurrency-accepting gambling sites. Provably fair gaming makes is impossible for the casino (or the player) to cheat as the results can be verified later. Apart from sports betting, any gambling action you take at a casino site requires that a.

The increase in its popularity and adoption is due to several factors that are particularly beneficial to the online gambling market. Benefits such as instant transactions, low fees, and anonymity all play a part in the way it is continuing to successfully infiltrate iGaming. This, in turn, is likely to contribute to an increase in players that are drawn to Bitcoin gambling, resulting in an increase in revenue across the board.

Benefits of Cryptocurrency gambling

Cryptocurrency and Bitcoin gambling i

Cost-Efficiency and Low Transaction Fees

From an online gaming license holders point of view, providing crypto payments on your online gambling site also has many benefits. Merchants can often negotiate better rates for conventional payments but still, a big chunk of income is lost on paying fees to payment service providers. But with cryptocurrency payments, things are rather different. Some of the leading crypto payment gateways charge as little as 0.5% which is significantly less than fiat currency competitors. By providing for crypto payments on your site, you can funnel a large percentage of your revenue through a payment method that saves you a fortune on processing fees.

Instant and Borderless transactions

Chances are, your customers will not all be located in one country. Therefore, offering cryptocurrency payments means that your international client base can enjoy instant cross-border payments and transactions. The transaction is completed in a matter of seconds and it’s secure, immutable, and private. The best thing is that even those without a bank account or credit/debit card can send crypto paymentsmaking online purchasing and playing accessible for all.

When you transact in cryptocurrency, you don’t have to wait for it to be processed or clear and you certainly don’t have to pay international fees. Anyone with an internet connection can send a cryptocurrency transactionwhen they want, to whom they want, and for how much they want.

Privacy & Transparency on Cryptocurrency and Bitcoin Gambling

Cryptocurrency transactions all take place on the blockchain– a decentralised ledger that is completely immutable. This means that once a transaction is made, it is permanent and cannot be reversed, edited, deleted, or otherwise tampered with.

This means that the risk of fraud, identity theft and counterfeit payments are significantly reduced. Crypto payments provide both online gaming license holders and players with an extra layer of security.

No chargebacks on Crypto Payments

Businesses bear a lot of losses from chargebacks. This is where a customer makes a card payment, receives the item, and then reports the charge as fraudulent to get it refunded. There are

New technology savvy generations

The market is particularly popular with Millenials whose spending power is increasing as they progress through their thirties. Cryptocurrency payment facilities will allow you to share this forward-thinking and progressive group of consumers and entice them to use your services. Integration of cryptocurrency in your business is a smart move for those looking to engage this market.

Considering all of the benefits above, we can expect to see a significant increase in the number of crypto payments, particularly in the gaming sector, over the next few years. As far back as 2013, Bitcoin gambling transactions accounted for as much as 50% of all Bitcoin transactions. Bitcoins popularity has significantly increased since then. These figures show that incorporating cryptocurrency into any iGaming platform is no longer an option, it’s a necessity.

The cryptocurrency was once a niche market but it is now widely accepted and adopted. You can be paid in crypto, buy a house with crypto, do your weekly shop with crypto, and of course gamble with crypto. This application of the technology on everyday activities has led to peoples perception of it improving. It is now recognised as something with value, benefits, and that is secure and trustworthy.

But it’s no longer enough to just offer Bitcoin transactions on your iGaming site. You need to provide the execution of transactions in a variety of different coins including Etherum, Litecoin, Monero, DASH and Bitcoin Cash.

World’s Finest Crypto Jurisdictions for Cryptocurrency Gambling

When it comes to cryptocurrency gambling, there are two kinds of jurisdiction. The first are those that have created a legal framework to nurture and develop the industry, and those that haven’t. Some operators choose to work in jurisdictions that don’t have the necessary frameworks in place but this is something of a grey area. It can lead to issues with third parties, advertisers, software companies, and banks, as well as potential issues with the authorities.

Fast Offshore recommends only working in reputable jurisdictions that have an adequate structure in place to regulate and oversee the industry. Doing so helps you boost your credibility and stay on the right side of the law. Our top four crypto jurisdictions for gaming are:

Curacao

Curacao is a prime jurisdiction for gaming and crypto gaming startups. They have been in the iGaming business since the mid-’90s and offer one of the most cost-efficient, quick, and simple licensing processes around. In addition to that, they are crypto-friendly and those with a Curacao gaming license are welcome to offer transactions in a range of cryptocurrencies and virtual coins.
Those that opt for a Curacao license for their crypto gaming company can enjoy 0% tax and VAT, quick and straight forward licensing, and a simple setup process with minimal red tape and bureaucracy.

We tend to recommend Curacao as the perfect jurisdiction for startup crypto gaming companies. The low costs involved in the process in-country means they can prove their concept and get the company in good financial shape before seeking to license in another jurisdiction.

Kahnawake

Kahnawake’s online gambling license comes with a solid reputation. The Gaming Commission is known for its zero-tolerance approach to violations of fair play, underage gaming, or any criminal activity. As such, a license from them carries weight when it comes to negotiating with third parties or setting up bank accounts. They are also welcoming to online gambling companies that want to offer cryptocurrency payments.
The setup costs more than Curacao but significantly less than Malta, ongoing fees are affordable as well. In terms of timescale, everything can be done within a few months. While there is more paperwork to get through when compared to Curacao, there is less than in Malta or other crypto jurisdictions.
Those acquiring a Kahnawake crypto gaming license can enjoy 0% tax rates in Kahnawake as well, meaning there is more liquidity for expanding the business going forward.

Malta

Recently, the Maltese government has taken steps to incorporate crypto into the market. They became the first country in the world to create a comprehensive legal framework for cryptocurrency, blockchain, and virtual assets. Nicknamed “The Blockchain Island”, Malta is home to blockchain startups, crypto exchanges, and several gaming companies that offer transactions in a variety of cryptocurrencies.
The Malta Gaming Authority is by far the most reputable in the world and the license comes with a hefty price tag. But for those with the capital to invest, or established iGaming companies, it is a solid option. The Maltese government is extremely ‘pro-business’ in their approach and there are a wealth of benefits to operating a Maltese crypto gambling company. These include some of the lowest effective corporate tax rates in the EU and access to a highly-skilled, English speaking workforce.

Costa Rica

The Central American country of Costa Rica does not offer an online gambling license. Companies are allowed to incorporate a company where the purpose is online crypto gambling and they are then allowed to conduct activities from Costa Rica. In terms of cryptocurrency, the Costa Rican government is very pro-crypto and supports the growth and development of the industry. Again, they take a somewhat hands-off approach which is great for startups that are finding their feet.
Incorporating a crypto gaming company in Costa Rica does come with some challenges. There may be difficulties. Likely, you won’t be able to get a conventional bank account, which is ok if you solely want to transact in crypto. We recommend launching your platform in Costa Rica, ironing out any issues, honing your offering and then going for licensing elsewhere.

Questions about Cryptocurrency Gambling? Contact Fast Offshore

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With the fast evolution of cryptocurrencies, it was only a matter of time until people started using them for entertainment purposes, including online gambling.

The practice of gambling with FIAT currency using just a web browser is commonplace today but cryptocurrencies have only recently entered the game to replace them.

So how do you navigate this totally new landscape?

Here is the answer…

The Role of Cryptocurrencies in Gambling

Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are well-known for their volatility. You never know whether they’ll tank or shoot up the stars the next day.

Many people have found their fortune by mining these cryptocurrencies in the early days of their existence but those who arrived late are now left with the scraps.

Today, mining Bitcoin and other valuable cryptocurrencies has become an improbable task to pursue for most people due to the rising energy costs the practice requires.

Some of the coins are also considered stable by now (Ripple is a good example), meaning that there’s not much opportunity to keep mining for more.

And that’s where gambling comes in…

With increasing competition and organizations trying to get their hands on blockchain tech, online gambling has become a surprisingly viable way to get a head start on crypto.

And the best part?

It’s a lot of fun!

Online Gambling with Crypto: What You Should Know

Certain cryptocurrencies are a risky investment in their own right due to their extreme volatility so you should know that gambling with crypto is an even riskier move.

A lot of people find the element of risk to be the fun part of crypto: trying to predict the price, looking at the stock prices, and then finally trading on the market.

It’s a process that’s made the news multiple times but you should be aware of a few things before you launch yourself into using crypto for online gambling as well:

1. Only gamble with disposable income: you do not want to use your main source of income for high-risk activities such as trading or gambling.
2. Look into the legitimacy of the casino first: since crypto is so new in the game, many casinos aren’t compliant with regulatory requirements.
3. Choose your crypto wisely: not all digital coins carry the same degree of risk when gambling so choose the cryptocurrency you use thoughtfully.
4. Make it about the fun, not the riches: gambling can result in big wins and potentially life-changing results but you should know the odds are stacked against you.

Disclaimers aside, using crypto as a means to gamble can be amazing compared to FIAT currency, and we’ll see why in the pros and cons below.

The Pros of Gambling with Cryptocurrency

If you know anything about cryptocurrencies, it’s that they are meant to decentralize money through a network of peer-to-peer transactions via blockchain technology.

We won’t go through the basics here but you should know that the pros of gambling online with crypto are highly connected to the principles which made the digital coins so popular:

• A decentralized network means complete anonymity, creating a safe gambling environment that can’t be controlled by financial institutions;
• Blockchain-based transactions are forever stored and can be looked up anytime, unlike traditional casinos which hide most of their financial statements;
• There’s no middle-man between you and the potential to win big, thus making crypto casinos provably fair thanks to their transparent algorithms;
• Being almost impossible to connect a transaction to a specific person, crypto is an extremely secure means of gambling, unlike FIAT currencies.

These being just a few of the benefits, gambling with crypto offers a compelling argument as to whether FIAT currency is bound to become less and less relevant in the casino world.

Are There Any Cons to Crypto Gambling?

As with most things, there are cons to gambling with crypto too, and we’ll discuss them briefly to help you inform your betting strategy and hopefully make some big wins:

• High volatility means your wins could result in losses anyway depending on which coins you are using and how much you are wagering;
• Gathering an initial amount of crypto may require some extra effort (and fees!) if you don’t already have a pool of coins at your disposal;
• There are only a handful of trusted casinos that offer crypto-only betting (known as crypto casinos) so the choice can be limited to just a few;
• The wealth of features available to crypto gamblers could result in confusion for players who are used to traditional casinos or who are just starting out.

The latter becomes more of a benefit once you get used to the mechanisms behind some of these features and lower your risk of losing significant amounts of money.

Crypto Gambling: How To Get Started

So how do you get started gambling online with cryptocurrencies and what are the steps necessary to enjoy your first few games at a trusted crypto casino?

Here’s the breakdown:

1. Open a Non-Custodial Wallet

The first thing you want to do (if you haven’t already) is to open a non-custodial cryptocurrency wallet. What does “non-custodial” mean?

We have a full guide on the topic.

Long story short, your best bet is to use the Blockchain.com Wallet as it’s the most reliable and secure option in the market for non-custodial wallets.

Go ahead and open one now!

2. Buy, Trade, Mine, or Win Some Crypto

Now that you have your wallet, you want to fill it up with some crypto. Depending on the wallet you choose, you may store different types of cryptocurrencies.

The Blockchain.com Wallet only allows for the most trusted crypto to be stored, meaning that your choice is limited to “only” a handful of digital coins.

To start generating the first few bits of your crypto wealth, we recommend taking a look at one of the many games available that allow you to win real crypto by simply playing.

While you won’t amass a fortune playing these games, they can help you get the foot in the door and fully realize what it means to own some crypto.

Of course, you can also go the traditional way and try mining your Bitcoins but you’ll soon notice that the practice might require more resources than you can throw at it.

Once you’re acquainted with handling cryptocurrency, you can also buy and trade in stock exchanges such as the Blockchain.com Exchange or Binance’s Exchange.

3. Choose a Trusted, User-Friendly Casino

Handling crypto is one part of the puzzle but when it comes to gambling with it, you can’t settle on the first random casino that pops up in your Google Search…

You have to do some digging.

The best crypto casinos offer the following:

1. A provably fair experience, meaning that the algorithms behind each wager are made available and transparent to all users of the online service;
2. A friendly user interface which isn’t just a bunch of buttons mashed together onto a playing field (remember, the fun factor comes before the riches!);
3. A variety of features that allow you to play either strategically or on a whim, helping you find your playing style without compromising on the fun factor, and;
4. A pool of casino games adapted to the use of cryptocurrencies, meaning that the experience is catered to the coins’ insane divisibility (up to 8 decimal places!).

On top of these four elements, you also want to make sure that the casino is on top of regulations in your country and that you don’t end up on a scammy website.

Using a non-custodial wallet is a good way to cover all traces of your spending on gambling but it’s not the only rule to staying safe online—you have to do some research beforehand.

4. Study The Rules of a Casino Game

Now comes the fun part.

You’ve found the perfect casino and want to start playing some games but how do you go about winning when you don’t even know how they work?

If you’ve had experience in a traditional casino environment, you’ll recognize most of the concepts used in crypto casinos as well…

But not all things are the same!

Gambling With Cryptocurrency Legal

One of the most popular games in crypto gambling is Dice. Similar to Craps in its most basic form, Dice is a game known for its simplicity: you wager on the outcome of a roll based on a chosen threshold (from 0 to 100) and gain/lose multiplier on the odds of winning.

For each game, you’ll have a specific set of rules and features. For example, Dice offers you auto betting features that allow you to wager multiple times based on specific settings and thresholds which set boundaries (otherwise it goes on forever!).

Sounds awesome, right?

5. Pick Which Coin You’ll Use

Once you’ve found the game you’d like to start with, it’s time to choose which coin you’d like to use. We recommend starting with one coin not to get confused about their value.

Here are a few things to consider:

• Start with lower-value crypto: we don’t recommend starting your crypto gambling experience with Bitcoin or Ethereum as they carry the highest risk.
• Experiment with one game and one coin for a few days: casinos are exciting so you may want to try everything but we recommend sticking to the basics for a while.
• Make use of all features available: what’s the point of wagering low-value coins if you can’t figure out which game features will help you win big in the future?
• Look out for daily promotions: crypto casinos will share daily giveaways and promotions on their social channels as well as their site.
• Participate in the community: most online casinos will have chatting available so make the most of it by engaging with more experienced crypto gamblers.

Two great coins to start with are Ripple (XRP) and Dogecoin (DOGE). DOGE is a bit harder to get your hands on than XRP but both are much easier to handle compared to Bitcoin.

6. Transfer Crypto To The Casino

Ready to wager on the outcome of your roll?

Then you can transfer your crypto directly from your wallet to the casino (it’s as simple as copying and pasting the address provided).

Most crypto transfers are extremely fast so you can expect to start playing your game of Dice just a few minutes after you’ve initiated the process.

Excited yet?

7. Start Gambling

You’ve chosen a trusted casino, you know the rules of the game, you’ve considered the different coins you could use, and you’ve committed to sending some crypto through.

Now you’re ready to start gambling.

Even with lower-value cryptocurrency, you don’t want to wager too high initially. Get used to the betting mechanisms first and raise your wagers incrementally until you find a sweet spot.

As you get acquainted with the game you’re playing, you should try and spot patterns that could help you create a winning strategy for the long-term.

Can’t think of any strategy?

Here are some below…

Gambling Strategies To Win More Crypto

The strategy you use to win more crypto will vary based on the game you’re playing. There are two games which we recommend trying as a beginner:

1. Dice
2. Hilo

Dice is simple to start (perfect for a beginner!) but hard to master. The moment you’ll think you cracked the code is when you start losing your bets. So never lower your guard…

Hilo, instead, is a game which relies on the odds of choosing whether the next card in a deck is higher or lower than the card currently displayed on the table.

While both games tend to get quite complex as you figure out all the details, Hilo has more going for it in terms of sheer possibilities and features.

Here are some strategies for both:

Online Gambling With Cryptocurrency

Dice Strategies

With their names originating from the respective creators, there are three famous betting strategies that apply well to crypto Dice:

1. The Martingale: a time-tested strategy dating all the way back to the 18th century, the Martingale assumes you’ll lose bets and that you’ll make up for them by doubling down on every loss. If that sounds crazy to you, go ahead and try it!
2. The D’Alemebert: the D’Alembert is a bit more sophisticated than the Martingale in that it has two different parts to it… 1) Increasing your bet size after a loss, and; 2) reducing bet size after a win. It may sound convoluted but it works like a charm.
3. The Paroli: the most sophisticated out of the three, the Paroli strategy follows a three-bet set rule, limiting the number of outcomes possible to just eight. By doing this, you are narrowing down the risk and enhancing your opportunities to win big.

Which strategy you choose depends on your playing style. You can learn more about the details for each of these strategies in our full guide to winning at Bitcoin Dice.

Hilo Strategies

Hilo is mistakenly known as a strategy-less game but there are quite a few interesting takes on how to strategize your way to bigger winnings in this card game:

1. Aiming for lower payouts: betting small isn’t a bad thing if you know what you’re doing… That is the philosophy behind this strategy, where you try and gather as many cards as possible while keeping your winning odds as high as you can.
2. Aiming for higher payouts: higher risk is also correlated with bigger rewards so you might want to mix and match all your betting options until you gather the fifth card in a row. That’s when you know you should collect your payouts!
3. First card hunt (12x multiplier): have the stomach to go all in? Then go ahead and chase an Ace or a King without ever thinking about any other card… You might lose a lot, or you might win a 12x multiplier! It’s a huge win with the right wager.

The last strategy is a bit of a stretch if you’re not the risky type but you might give it a try. To learn more about Hilo and see the strategies in action, check out our full guide.

Online Crypto Gambling: The Verdict

Whether you just want to have some fun or you’re planning to become a competitive gambler, cryptocurrencies have already demonstrated their versatility in the casino world.

The verdict on using them for online gambling?

It’s worth it, but only if you know what you’re doing.

Gambling With Cryptocurrency

Luck is a part of the game but you can’t just rely on it as most games will require consistent exercise before you see any significant profit. Joining in for the hype is also a risky move.

Bitcoin Casino

We recommend that you take your time to fully understand the rules of one crypto casino game and the risks involved before you throw yourself into the wagering cycle…

So, what game will you start with?