In the early days of online gambling, you had a few payment options. You had the choice to use Visa or MasterCard. Alternatively, you could have opted for bank transfers.
Some casinos also accepted physical checks. But smart players always avoided checks—they were slow and often misused by untrustworthy operators. These days, the standard online casino accepts up to 20 payment providers. But why gamble with crypto? What benefits does crypto gambling sites offer to the players?
Huge Crypto Bonuses
Many online casinos give out bonuses to new customers. It’s a welcome gesture designed to attract new gamblers to a site. Crypto casinos are no different, except when it comes to the amount of bonus you get.
The typical casino will give you a maximum of $100 or $200. With crypto gambling, you receive up to five Bitcoins as a bonus. Think about it. One BTC cost $27,000 at the time of writing.
If you deposit 5BTC to your online casino and receive a similar number of Bitcoins, you’ll have more than $200,000 worth of betting crypto. Now, don’t get scared about figures if you have a small betting budget.
The goal of gaming is to have fun. It doesn’t matter if you have a small o huge budget. Casinos know this, and so they set a low minimum deposit amount for players who want bonuses.
That said, look beyond bonus amounts. Choose bonuses with fair terms and conditions. Also, prioritize casinos with loyalty bonuses like a VIP program, cashback rewards, and loyalty points.
Borderless Payments
Crypto is a decentralized money system. It’s centered on peer-to-peer transactions, meaning there’s no intermediary involved. If you have Bitcoin and want to gamble online, you send your funds directly to an online casino.
Your Bitcoins do not require approval from your local bank. However, the crypto blockchain requires payment verification. Every transaction must be verified to avoid payment duplication.
With crypto being decentralized, you can use it to make payments in any part of the world. Let’s say you live in a country with strict betting rules. You can use Bitcoin to deposit money at foreign BTC casinos.
Almost no other payment method supports transactions in every country globally. PayPal works in 150+ countries. Visa and MasterCard work in 200 countries. But they don’t serve everyone.
And even if you can use PayPal or Visa in your crypto, these payment companies may close your account or cancel your card. In some countries, credit card companies do not make payments to gambling sites.
Fast Payments
Every gambler wants a casino with quick payments. Yet, not everyone cares about choosing a fast payment provider. Casinos have no control over how long banks take to debit money into your account.
As such, choose a quick payment method. Bitcoin processes transactions within 20 minutes. Ethereum takes less than 10 minutes while some altcoins process transactions within a minute.
Crypto processes payments fast for the same reason it supports borderless transactions. It’s decentralized. No one intercepts your money to decide whether to approve your payment or not.
With crypto, all that is required is verification. Each transaction must be verified as genuine before it’s added to the blockchain. Verification involves solving complex math problems in a process called mining or crypto staking.
Blockchains use two ways to verify payments. Some rely on Proof of Work. Others use Proof of Stake. Cryptocurrencies based on the POS system process transactions faster.
Low Payment Fees
Another benefit of Bitcoin’s blockchain is that it’s not profit-driven. Unlike banks and e-wallets, crypto wasn’t designed to enrich a few. Instead, it was created as a system of money that can benefit everyone.
That said, crypto isn’t entirely free. The people who verify crypto payments are incentivized using a small fee deducted from each transaction. Bitcoin is costlier compared to other coins.
So, if you want to transact with crypto while keeping your payments low, consider altcoins like Litecoin, USDT, or Solana. Keep in mind not every casino accepts altcoins, though. Most Bitcoin casinos support BTC, ETH, and a few more well-known coins.
Another thing worth noting is that some cryptocurrencies let you choose the transaction fee. We know—it’s strange. But it’s true. Coins designed on the Ethereum blockchain rely on “gas fees” to verify payments. And you decide the amount of gas you want to give out.
Flexible Limits
Crypto gambling is favorable to both players with a small and huge budget. You can deposit a minimum of $20 worth of crypto at most casinos. But you could also deposit as much as $100,000.
In other words, crypto is excellent for micropayments. And it’s also ideal for sending large sums of money. Crypto’s transaction time doesn’t change based on the amount of money you want to send. However, fees can be higher when sending a lot of money.
With that said, crypto is a great payment option for people who spend hundreds or thousands of dollars at online casinos. When you win more than $10,000 you need a payment method that can handle a large amount of money.
Most e-wallets limit payments to a maximum of $10,000. Credit/debit cards have a similar transaction limit. Bank transfers can handle as much money as crypto. But it’s slow—banks process payments between one and five days.
Blockchain-based Games
One of the best benefits of gambling with crypto is that it gives you a chance to play blockchain-based games. You can’t play these special games using fiat currency.
You must have Bitcoin, Ethereum, or another coin. Blockchain-based games work like regular slots and table games. But since they’re built on the blockchain, they’re transparent.
Every detail about a slot built on the blockchain is accessible to everyone. You can check a game’s algorithm for fairness. For clarity, crypto casino games are 100% fair and you can check for proof.
Beyond fairness, betting with crypto means you benefit from volatility. If you have one BTC in your account, it could double its value in a few weeks. But that works only if crypto is in a bullish trend. During the bear market, your crypto could also lose value.
