Online casinos have long provided the ability to roll the virtual dice and gamble on craps. Up until recent years, though, gaming sites only allowed you to use traditional payment options to play.
Bitcoin craps, however, offers another way to wager on this casino classic. It lets you gamble with the world’s most-popular cryptocurrency when playing.
If you’re not used to gambling with Bitcoin (BTC), however, you may have some questions on how BTC craps works. The following guide discusses the ways in which Bitcoin craps is unique, how to deposit and play real money games with Bitcoin, and the advantages to crypto gaming.
How Bitcoin Craps Differs From Regular Online Craps
If you’re used to depositing at online casinos with credit cards and ewallets, for example, then you may find BTC craps to be a little different. Here are the main differences that you’ll encounter when playing this game.
As the term Bitcoin craps implies, you’ll need to deposit with BTC to play. In some cases, you may even be able to use other cryptocurrencies, such as Ethereum, Litecoin, and Bitcoin Cash.
In any case, you’ll be using crypto to play. You’ll find cryptocurrency banking to be slightly different than typical online casino deposit methods.
The good news is that these differences aren’t so great that you’ll feel completely lost. Nevertheless, you should be prepared for some small adjustments.
Different Betting Units
Some Bitcoin casinos see you deposit with BTC and gamble in fiat (e.g. USD). Others require you to also wager in Bitcoin denominations after depositing.
These online casinos list your bets in terms of Millibit (mBTC). An mBTC is worth a one-thousandth of a Bitcoin. It’s by no means a perfect replica of the dollar or euro.
After all, one mBTC is currently hovering around $60 based on Bitcoin prices at the time of this writing. Nevertheless, it’s the closest thing that you’ll get to traditional fiat units when playing Bitcoin craps.
If you wager 0.1 mBTC, for example, then you’re risking $6. Likewise, a 0.05 mBTC bet is worth $3.
Provably Fair Games
Probably fair gaming allows you to check the results of online wagers for fairness. It utilizes blockchain technology to provide this unique opportunity.
With provably fair craps, an online casino can’t manipulate the results in any manner and get away with it. After all, you or any other gamblers can review wagers to ensure that everything is above board.
Getting Started with Bitcoin Craps
Perhaps you’ve already joined the Bitcoin craze and are well-versed in using this cryptocurrency. If not, though, you can follow the simple steps below to start playing BTC craps.
1 – Get BTC from an Exchange
You can purchase Bitcoin with fiat at dozens of exchanges. Binance.US, Coinbase, Gemini, and KuCoin are among the most-popular options.
Upon visiting an exchange, you’ll need to sign up for an account and enter your banking details. Afterward, you will be able to purchase bitcoin.
When doing so, you should enter exactly how much BTC you’d like to buy. After confirming the transaction, you’ll receive the cryptocurrency.
2 – Open a Bitcoin Wallet (Optional)
Most bitcoin gamblers simply keep their funds on the exchange where they purchased the BTC. However, there’s an old saying in crypto: “Not your keys, not your coins.”
This saying highlights the point that you don’t technically have full control of crypto when it’s sitting on an exchange. If you don’t fully trust exchanges, then you should consider opening your own Bitcoin wallet.
Many online guides exist that’ll help you open a BTC wallet. Much like with using exchanges, you should find this process relatively easy to figure out.
3 – Get a Wallet Address from the Online Casino
After purchasing Bitcoin, you need to head to the relevant online casino. Once here, you visit the banking section and look for the BTC option.
Upon selecting the Bitcoin, you’ll generate a wallet address from the casino. This address will serve as the recipient for the transaction.
4 – Make the Deposit
The final step is to revisit the exchange, or your own Bitcoin wallet (see step #2), and make the deposit. You get this process started by choosing to send BTC.
Afterward, you’ll be prompted to enter the recipient’s wallet address. This is when you paste the casino’s wallet address. The last matter involves confirming the transaction and waiting for your BTC to arrive at the casino.
Advantages of BTC Craps
You may wonder what makes Bitcoin craps so special compared to the traditional version of real money online craps. If so, you can check out the following advantages of playing craps with BTC.
You don’t have to deal with a bank when using BTC. After all, Bitcoin is completely decentralized and free from the control of banks or any other third party.
A bank, credit card network, or e-wallet, can’t reject your casino deposits. Therefore, you can count on 100% of your deposits going through.
Bitcoin miners are the ones who validate your transactions. They can’t see what you’re using the BTC for. They merely solve computational puzzles to validate transactions while earning a tiny fee in the process.
Bitcoin bonuses can be spectacular in some cases. For example, you might qualify for a match bonus worth up to 0.5 Bitcoin on your first deposit.
BTC is worth around $60,000 at the time of this post. Therefore, a 0.5 Bitcoin craps bonus would be worth up to $30,000!
You may not have nearly enough crypto to fully take advantage of such offers. If you are looking for large bonuses, though, then BTC casinos are the best place to get started.
Simple as Using an Ewallet
If you’ve used an ewallet before, then you shouldn’t have much trouble figuring out Bitcoin deposits. It’s virtually the same process, especially when keeping your BTC on an exchange.
The only additional step involved is buying Bitcoin in the first place. Once you get this matter out of the way, you’ll be able to send deposits and receive withdrawals in a matter of minutes.
As for buying Bitcoin, you can accomplish this within seconds so long as your banking details are loaded up. You just need to enter how much you’d like to purchase and confirm the transaction. Your BTC will be available shortly thereafter.
Drawbacks of BTC Craps
Bitcoin craps isn’t perfect—otherwise, traditional online craps would be the completely irrelevant by now. Here are the main drawbacks to consider before jumping into BTC online craps.
Bitcoin Requires an Adjustment
As explained throughout this post, you should get the hang of using cryptocurrencies rather easily. If you’re used to depositing with credit cards and other traditional methods, though, then you’ll need to go through a slight adjustment period.
The biggest hurdle is setting up your own exchange account and entering the banking details. While this matter only takes 5-15 minutes, it does serve as a mental barrier.
In contrast, you can quickly grab your credit card and enter the numbers within seconds. Likewise, if you already have an ewallet set up, then you might not see the use for Bitcoin.
With Bitcoin online craps, you’ll be gambling on two fronts. You’ll not only be hoping to bet on the right dice combinations, but also praying that the BTC price remains steady or increases.
Bitcoin‘s history suggests that it will continue rising in value. However, it’s extremely volatile and can drop by as much as 10% or 15% in a day.
Your 0.01 BTC bankroll, for example, might be worth $600 one day and only $500 the next. If you don’t like dealing with bankroll swings when you’re not even gambling, then you’ll find Bitcoin to be unnerving.
Make a Banking Mistake & Lose Your BTC
If you make a mistake using a traditional payment method like an ewallet or bank transfer, then you can contact customer support and potentially get the gaffe reversed. Assuming you make the same mistake with Bitcoin, there’s no support staff available.
You must ensure that the address where you’re sending BTC is 100% correct. Otherwise, your Bitcoin will be lost to a random address.
Your best hope in this case is that you mistakenly send the BTC to a good Samaritan, who’ll then return it. If not, though, then you’ve lost out on the funds.
Is Bitcoin Craps Ultimately Worth Playing?
You can see that there are good and bad points to playing online craps with Bitcoin. Ultimately, though, you’ll probably find BTC craps to be worthwhile.
This is especially true if you live in a market that doesn’t offer regulated online gaming. California, for example, doesn’t regulate mobile gaming and is thus served by offshore casinos.
Assuming you live in California, for example, then you could deposit with Bitcoin and not worry about a bank or some other institution rejecting the deposit.
You’ll also find that cryptocurrencies are relatively easy to use when you get the hang of them. Once you buy BTC from an exchange, the rest is downhill.
Bitcoin craps is also great when you’re in the market for a big bonus. On average, cryptocurrency casinos offer the largest deals in the industry. Most welcome bonuses at these gaming sites are worth thousands of dollars.
Of course, you may be most comfortable with traditional, fiat online casinos. If you deal well with change, though, then you should definitely check out Bitcoin craps and capitalize on its advantages.
Start Playing Craps With Bitcoin Today
Online casinos already offer plenty of ways to deposit and play mobile craps. However, traditional payment options may be lacking one or more of the benefits that you’re looking for.
Bitcoin craps gives you access to decentralized deposits, big bonuses, and simple banking. The latter becomes a reality as you use BTC more and more.
Of course, cryptocurrency gaming requires a small adjustment. You’ll need to learn how to buy crypto from an exchange and send it to an online casino. Once you master this aspect, though, you should have no trouble playing BTC craps.