Dollars Vs Bitcoins: Which One Should You Gamble With?

Photo by Dmitry Demidko on Unsplash
2 years ago

With the huge rise of the popularity of cryptocurrency, online casinos started using this blockchain technology by offering their services to people that want to gamble with digital money. As we all know, the gambling industry is one of the biggest fans of new and innovative technologies and likes to make unique changes to the way people gamble just to keep them engaged and offer more options.

Many online casinos are now adopting cutting-edge developments from VR technology, to live gambling, and it is no surprise that cryptocurrencies are welcomed by most gambling companies.

However, this got us wondering, what are the benefits that come from using cryptocurrencies in the online gambling space and whether or not it is better than the traditional way of using FIAT that we are using for hundreds of years. Let’s find out.

Is it Better to Gamble With Dollars or Bitcoins?

In order to find out which is a better option for you, we have to highlight all the advantages and disadvantages that come with the new way of gambling. After all, if you are inspired to make a change over the traditional gambling that you are used to, there must be some kind of benefit for you to transition to using bitcoin in online casinos.

Let’s find out the benefits that come with using bitcoin in online gambling.

Crypto Benefits are More Lucrative

Online casinos that allow gambling with bitcoin and have adopted this blockchain and crypto technology usually offer more attractive bonuses than online casinos that are limited to FIAT transactions. One of the reasons why the crypto bonuses are better is because of the new and still not fully regulated finance world of cryptocurrencies.

As of now, all casinos must pay taxes on FIAT transactions, even on money that they hand out as bonuses. However, offering bonuses in crypto casinos might find some holes in the system in a way that they are not obligated to pay taxes.

So, for you as a player, choosing a casino that offers gambling with bitcoin instead of dollars, might be a better option if you want to get more attractive rewards, like the Bovada bitcoin bonus.

Anonymity

One of the biggest problems that the world is facing right now is the problem with customer privacy and data leaks that is constantly happening even in big organizations. Almost all casinos that offer FIAT gambling require you to sign up by filling out a bunch of personal information including address, phone, financial information, and more. Although most casinos are safe, there is still a risk of your financial information falling into the wrong hands.

On the other hand, casinos that offer crypto gambling don’t require a lot of personal information. You can register with your digital wallet, and start gambling without worrying about losing your data. On top of that, all the transactions are recorded on the blockchain without your real name or any kind of information, making the process anonymous.

Faster Deposit and Withdrawals

Fiat gambling online casinos usually take 1-5 days to process withdrawals, and sometimes even longer depending on how much money you are taking away from the system. On top of that, they have huge fees that can eat out your winnings.

Gambling with bitcoin will allow you to minimize your fees and enable faster transactions that usually are confirmed within 10 minutes.

Better Odds

Due to the minimized cost of running a crypto casino, most companies that offer such gambling can afford to give back more to their customers in a form of higher payouts. This means that gambling with bitcoin over dollars might result in higher winnings and bigger profits.

Accessibility

Nowadays, online casinos that allow you to gamble with fiat money are not available in every part of the world. Due to the processing of transactions, and financial limitations, such casinos cannot be accessed by everyone.

Can you imagine filling up a form to sign up for your favorite casino and noticing that your country isn’t included in the list? – It is a true nightmare.

However, with cryptocurrencies like bitcoin all of these struggles are gone. Since bitcoin operates on a decentralized network, it is accessible to everyone and no country can ban it.

Better Security

Unfortunately, the online casino industry is full of scams and data breaches that might result in losing all your money. However, casinos that use the latest blockchain technology can safely protect their customer’s data, and the only way you can lose your money is if you hand out your wallet password to someone.

This means that your financial information is always safe when gambling in a crypto casino.

Inflation and Price Drops

Most people would argue that gambling with bitcoin over the dollar currency is better just because bitcoin isn’t subject to inflation. That may be true, but cryptocurrencies are still fluctuating a lot, which means that even if inflation doesn’t eat up your profits, you may experience a price drop losing all of your potential gains.

This is a rather negative side to crypto gambling, but on the other hand, you can also make money if the price increases. So, if you believe in this technology and its impact, you shouldn’t worry about the price of the cryptocurrency you are using.

Don't Miss

What Is a Bitcoiner? - A Comprehensive Documentary Guide

What Is a Bitcoiner? – A Comprehensive Documentary Guide

Exploring the realm of Bitcoiners unveils a fascinating journey into the world
Hey there, savvy bettor! When it comes to your bets, transparency is key. Understanding how Bitcoin sports betting platforms communicate and market their services can be a game-changer in your betting journey. Let's dive into the world of marketing transparency and explore how open communication on these platforms can impact your experience. The Language of Promotions: Decoding Bonus Offers on Best Crypto Sportsbooks Promotions and bonuses are like the cheerleaders of the betting world, enticing you to join the game with a burst of excitement. However, navigating the language of promotions requires a keen eye for details. On the best crypto sportsbooks, you'll encounter various bonus offers – from welcome bonuses to reload bonuses and free bets. Understanding the terms and conditions associated with these promotions is crucial. It's like reading the playbook before stepping onto the field. Look for factors like wagering requirements, minimum odds, and validity periods. Best crypto sportsbooks aim for transparency in communication, but you must decode the terms to ensure you make the most of these enticing offers. Remember, not all bonuses are created equal. Some might seem flashy, but the devil is in the details. By delving into the fine print, you can distinguish between promotions that genuinely enhance your betting experience and those that might have hidden hurdles. Odds Presentation: Unveiling the Truth Behind the Numbers Odds are the heartbeat of sports betting, and how they're presented on best crypto sportsbooks is a crucial aspect of marketing transparency. These platforms aim to present odds in a clear and accessible manner, but there are nuances you should be aware of. American odds, fractional odds, and decimal odds are the main players in the odds presentation game. Each has its way of expressing probability and potential winnings. The best crypto sportsbooks often allow you to choose your preferred format, putting the control in your hands. It's like choosing the jersey you wear – go with what makes you feel most comfortable and confident. Monitor how odds fluctuate across different platforms for the same event. While minor variations are common, significant differences might signal value opportunities or potential pitfalls. The best crypto sportsbooks strive for consistency and clarity in their odds presentation, but being a discerning bettor ensures you're making informed decisions based on accurate information. Communication Channels: Engaging with Support on Top Crypto Sportsbooks When it comes to top crypto sportsbooks, open communication extends beyond promotions and odds. These platforms prioritize customer support as a vital aspect of their transparency efforts. If you ever find yourself in a pickle – whether it's a withdrawal concern, a bet settlement query, or just seeking general information – having reliable and responsive customer support is like having a coach in your corner. Top crypto sportsbooks typically offer multiple communication channels, including live chat, email, and sometimes even phone support. It's like having a playbook with various strategies to tackle different situations. Live chat is often the go-to for immediate assistance, while email allows for a more detailed exchange. Transparency in communication means clear and prompt responses from customer support. Top crypto sportsbooks value your experience and aim to resolve any issues swiftly. Engaging with support not only helps you navigate challenges but also provides insights into the platform's commitment to open communication. Responsible Gaming: Safeguarding Your Betting Experience on Crypto Sportsbooks As the excitement of Bitcoin sports betting unfolds, responsible gaming practices are becoming increasingly crucial. The best crypto sportsbooks are not only committed to providing an entertaining betting experience but also to ensuring the well-being of their users. Responsible gaming is like having a set of guidelines that create a safe and enjoyable environment for every bettor. One key aspect of responsible gaming is setting limits. Picture this scenario: before you dive into the thrilling world of Bitcoin sports betting, you set daily, weekly, or monthly deposit limits. These limits act as a guardrail, preventing excessive spending and ensuring that your betting activities remain within manageable bounds. The best crypto sportsbooks empower you with the tools to set and adjust these limits, giving you control over your betting budget. Another crucial element is self-exclusion. It's like having an emergency exit that you can activate if needed. The best crypto sportsbooks provide options for self-exclusion, allowing you to take a break from betting if you feel it's necessary. Whether it's a short cooling-off period or a more extended self-exclusion, this feature ensures that responsible gaming is not just a concept but a tangible practice embedded in the platform. Future Trends: Anticipating Innovations in Bitcoin Sports Betting The world of Bitcoin sports betting is dynamic, and anticipating future trends is like peering into the crystal ball of innovations. As technology continues to evolve, so does the landscape of online betting. Here are some trends that could shape the future of Bitcoin sports betting platforms. Virtual and augmented reality (VR and AR) experiences are on the horizon. Imagine donning a VR headset and being transported to a virtual sportsbook where you can place bets, watch live streams, and engage with fellow bettors in a lifelike environment. It's like bringing the excitement of the betting arena directly to your living room. While the full realization of VR and AR in Bitcoin sports betting might be on the horizon, the seeds of these innovations are already being planted. Cryptocurrency integration beyond Bitcoin is another trend to watch. While Bitcoin is the show's current star, other cryptocurrencies like Ethereum, Litecoin, and more are gaining traction. Future Bitcoin sports betting platforms might offer a broader range of crypto options for deposits and withdrawals, providing bettors with increased flexibility and choice. Additionally, the integration of artificial intelligence (AI) in odds analysis and betting recommendations is a potential game-changer. Picture having an AI-driven assistant that crunches the numbers and analyzes player performance, team dynamics, and historical data to provide personalized betting suggestions. It's like having a virtual betting coach that enhances your decision-making process. In the ever-evolving landscape of Bitcoin sports betting, staying tuned to these future trends allows bettors to be on the cutting edge of innovations. While the crystal ball may not reveal every detail, anticipating what's to come adds excitement to the betting journey. So, gear up for the future and let the trends unfold as you navigate the thrilling world of Bitcoin sports betting. Your Winning Strategy: Embracing Transparency in Bitcoin Sports Betting Congratulations, you've unlocked the playbook to transparency in Bitcoin sports betting platforms! Remember that transparency is a two-way street as you embark on your betting journey. While the best crypto sportsbooks strive for openness in their communication, being an informed and discerning bettor ensures you make winning plays. Decode the language of promotions, understand the truth behind the odds presentation, and engage with customer support when needed. Transparency is your ally, guiding you through the dynamic world of Bitcoin sports betting with confidence and clarity. So, gear up, place those bets, and may your winning strategy be fueled by the power of transparency!

Hey There, Savvy Bettor! When it Comes to Your Bets, Transparency is Key

Understanding how Bitcoin sports betting platforms communicate and market their services can