Millions of retail traders around the world engage with crypto market driving its metrics up and making the ecosystem more attractive to institutional investors and a new cohort of end consumers. A typical crypto trading bot conducts hundreds of trades each month generating a massive asset flow within the industry. With over 300 active users of cryptocurrencies globally, many services proliferating in the blockchain ecosystem can run business models that benefit from the increased liquidity and stability.
What are crypto casinos?
A gambling website or an app that accepts crypto payments and makes payouts in digital assets can be included in this category. However, many innovative platforms also use the blockchain technology to improve a variety of aspects like fairness, security, anonymity, and more. The decentralized and immutable nature of the technology allows these platforms to keep transparent and easily verifiable records making all gambling activities trustworthy.
The demographic of younger users also makes it worth for adult entertainment industry to make long-term investments in the development of new technology and digital infrastructures designed to support it. Tech-savvy people are looking for exciting ways to utilize their digital assets and spend them on consumer goods, luxury items, and games of chance. Millennials, the most important audience for all businesses, are using crypto at an increased rate with 27% of them having some holdings in digital assets.
While fairness and transparency are inherent to the best crypto casinos out there, players also benefit from the advantages of using cryptocurrencies in general. Fast transactions, low costs, and the ability to use coins internationally and anonymously make it easier for people from regions where gambling is restricted to still enjoy a variety of popular games without any repercussions.
How do crypto casinos work?
On the surface, differences between traditional gambling establishments and those actually utilizing blockchain technologies are hard to find. Users do not have to break their habits and try to learn completely new mechanics. These new-age companies intentionally try to mimic what their “ancient” predecessors succeeded with. Your standard baccarats and roulettes are still here!
But, there are some differences:
- Easy registration and deposits. In many cases, you won’t have to provide personal information except of an email address. The process of depositing funds is also streamlined allowing players to start playing as soon as possible. Transactions are processed quickly and allow for direct transferring of coins to the casino balance. Top Bitcoin casinos offer a much faster and smoother experience to their users compared to traditional gambling establishments.
- Innovative gameplay architectures. The player experience is virtually indistinguishable from what you can expect in a regular gambling house. However, blockchain tech under the hood is used to create provably fair outcomes for certain games and whole RNG systems ensuring that users do not doubt the legitimacy and integrity of novel gaming establishments.
- Withdrawals are expedited as many blockchains operate as trustless and permissionless systems where centralized authorities do not need to verify your identity, audit transactions, and otherwise slow down the asset wiring process. The absence of good old banking intermediaries increases the efficiency of all operations and quickens the withdrawal process that takes traditional casinos several business days to complete.
One of the core reasons for the popularity of these new types of adult entertainment providers is the provably fair nature of random number generation and the verifiable nature of outcomes of all games recorded in a tamper-proof, decentralized ledger. RNG is especially important for games and blockhain improves it in many ways:
- Transparent records. All outcomes are recorded in an immutable ledger which is publicly available and can be audited by players themselves and many independent companies. Manipulating these records is impossible and makes all events permanently recorded. The existence of such records makes these platforms trustworthy.
- Algorithms that are provably fair. The foundation of the industry is built with cryptography helping these companies encrypt all outcomes and use public hashes that prove outcomes before they happen. For example, the next roulette wheel spin can be preprogrammed and hashes distributed to players when they make bets. After the result is shown, these hashes can be used to verify the validity of the outcome.
- Random number generation is more complex. The use of blockchain-based technology allows all results to be generated with advanced cryptographic algorithms with all outcomes being provably fair and transparent. Unlike many traditional companies that hide the true nature of their inner workings, the best crypto gambling sites put everything on display.
These adult entertainment platforms operate on the foundation of trust and try to create a new image of gambling where all features are specifically designed to prove and immutably record outcomes of games. This transparency makes the whole industry that much more interesting to people who would have never trusted centralized online casino websites.
Why should you try out top Bitcoin casinos?
There are many reasons to engage with the world of blockchain through the medium of adult entertainment as decentralization allows for private exchange of data and anonymous use of many platforms. Using gambling sites that utilize various DeFi protocols to facilitate asset transferring and employ advanced cryptographic algorithms for data storage and random number generation comes with many benefits that make the experience of a typical user great:
- Much higher levels of security. Encryption is often used for all business operations allowing for safer data handling. At the same time, the decentralized nature of platforms ensures that there is no single vulnerability that can grant bad actors access to information and digital infrastructure even if a breach occurs. CipherTrace reported a 70% reduction in gambling fraud cases that are related to various digital assets.
- Fast and reliable transactions. Many gamers are used to lengthy withdrawal processes when waiting for winnings can take weeks. The use of Bitcoin, Ethereum, and other popular mainstream coins significantly increases withdrawal processing allowing for a more rewarding and satisfying experience for all users. The settlement happens in under an hour or even faster depending on the type of blockchain you use.
- Cheap transaction prices. Banking intermediaries may take up to 15% to process payments to and from gambling websites. In some cases, users have to pay twice: once for the initial deposit and each time they withdraw funds. Debit card operators also have standard fees that can reach 5% or even 10%. In 2023, the average price of Bitcoin transactions remained stable and usually fluctuated close to $2 allowing for very cheap asset movement.
- Privacy and anonymity. The decentralized nature of chains ensures that operations can occur without the need to reveal personal information of individual users. People concerned with privacy are gladly using adult entertainment platforms that allow them to protect sensitive data and gamble anonymously. Since engaging in games of chance is often frowned upon in some cultures, the ability to keep it private is quite valuable.
- Global reach and equal access. Since some of these establishments do not need to adhere to local regulations and collect personal information, they can be accessed from any point on the globe without any issues. With over 1.7 billion adults globally unbanked or having very limited access to financial services, the very existence of casinos that do not discriminate and provide access to their services across national borders is compelling to millions.
- Innovative games. Many developers have a blast creating unique entertainment systems for players who are seeking new, exciting experiences. Provably fair algorithms help dev teams build innovative gameplay mechanics and interesting additions to traditional games of chance. One of the platforms in the sector Fairspin reported a 200% increase in engagement thanks to the implementation of these technologies.
- Lucrative bonuses and generous promotions. New crypto casinos have to compete for the attention from users and implement a wide range of tricks designed to entice players to try them out. No-deposit rewards for registrations, free spins in slot games, and massive welcome bonuses. The generosity is based on the lower operational costs and the absence of banking intermediaries. These methods of attracting users are very effective as many establishments report impressive increases in user registrations after they implement them.
Millions of gamers from all over the world engage with these platforms and feel rewarded for doing so thanks to the best Bitcoin casino bonuses that can reach up to 200% of the initial deposit. Couple this generosity with added benefits of using blockchain-based gambling websites and you have a combo that is guaranteed to attract users.
The saturation of the market has reached a new height during the last decade. Selecting a good platform is not as easy as it seems. The relaxed approach to regulation from many platforms makes it more convenient for players to start gambling but it also creates an environment where fraud is common. Another problem is the addictive nature of games which is exacerbated due to the anonymous nature of the blockchain.
The best casinos in USA and worldwide
There are many interesting gambling establishments to choose from in this growing sector of the blockchain ecosystem. We will help you find companies that deserve your attention thanks to the selection of games, bonus structure, provably fair gaming, and other features that improve the user experience and make playing feel rewarding.
Stake.com
Founded in 2016, this company initially focused on developing gaming applications for traditional establishments. However, by 2017 the founders pivoted toward offering their games to the big audience of crypto enthusiasts. Stake has a large catalog of entertainment options including what you may find in any online gambling house. Slots, blackjack, roulette and sports booking make the bulk of the platform.
Additional features include video streams hosted by live dealers professionally trained to make the experience more authentic. While users can make asset transfers using TradFi channels, Stake encourages its clients to use coins and transact using personal wallets. However, the UK version of the website operates only in fiat.
Note that the platform does not employ blockchain technology as widely as highly specialized startups in the DeFi ecosystem. Instead, Stake simply positions itself as a supporter of the crypto industry and has a special team of experts to improve their operations related to decentralized finance. It is one of the top Ethereum casinos.
Poliflip.io
If you are looking for a website that offers provably fair games and focuses on functionality instead of fancy looks, Poliflip is a good choice. It is a niche decentralized app that emphasizes the importance of the gambling process over smoke and mirrors used by traditional establishments trying to emulate the authenticity of a lavish casino hall.
Poliflip is one of the best Polygon casino sites with four games built on blockchain:
1. The original Poliflip is an experimental clip-a-coin game where all outcomes are recorded in an immutable ledger. It is one of the first of its kind and has been around for at least two years.
2. Crash a game where you try to predict the length of a rocket flight. All games payout a certain sum based on the actual time traveled but you can increase the risk by making larger bets.
3. Dice is a game where users select potential outcomes of a virtual dice throw. You can reduce the risk by choosing multiple outcomes (up to five out of six).
4. Roulette is your typical game with a wheel and up to 35 choices for betting. The game runs on a provably fair algorithm and records all outcomes in a decentralized ledger.
The website accepts payments and makes payouts in MATIC, USDT, and USDC. You cannot use fiat and need an Ethereum wallet or any other ERC-20 compatible wallet to start playing. Note that the site does not have a massive support system or additional services. It is a barebone gambling system that acts as a proof of concept rather than an actual business.
Divvy.bet
This sports betting website operates on the infrastructure deployed on the Solana network. If you are looking for a frictionless experience and want to bet without any issues using USDC, SOL, and other cryptocurrencies, this particular platform is a great choice. Right now, the sports booking section is the only viable product but the company is planning to expand its offering.
The smooth user experience is facilitated by the frictionless onboarding process that does not require any form of traditional registration. The website does not collect personal information and allows for immediate use of its features if you have a Solana-compatible wallet. After connecting, you can directly deposit funds and start betting right away.
Due to the failure of many Solana-based projects in the recent time, it the one of the best Solana casinos survived because the service is actually smooth and feels great to use. Unlike alternatives to coin-flipping games, it is an actual gambling platform with a variety of ways to bet on the outcomes of virtual and real sports.
BC.game
People interested in provably fair gaming with simple systems in place to prevent any tampering with data should take a close look at BC.game. It is a big provider with a rich selection of traditional games that you can find in all traditional establishments. Roulette, slots, blackjack, and a variety of other interesting choices as well as sports booking make the experience rich and rewarding.
The platform accepts payments in multiple coins, but the withdrawal process can be quite slow as it still users a complicated money transferring framework that can take several business days to process transactions. However, the ability to use a wide range of payment methods is a valuable feature on its own.
The provably fair algorithm employs SHA256 hash function to ensure that games have sufficient amounts of predetermined moves (up to 10 million) that can be easily verified by any participant. This approach makes everything transparent and trustworthy providing a great experience to players.
SolLegion
This website is built on Solana and offers a unique way to gamble with lootboxes. SOL is used to buy and open these boxes containing flat sums, multipliers, and other goodies. Prices differ from 0.05 $SOL to 1 $SOL. After you buy a box, the on-chain system generates the rewards using a provably fair algorithm with outcomes easily verifiable using hashes. Rewards range from null to up to x100 multipliers.
One of the problems with the gameplay loop is that users are subjected to small fees which are negligible considering that the price of a single transaction rarely exceeds 0.0001 $SOL. The whole platform is quite interesting and offer a unique look at the very idea of games of chance.
The UI is very simple and does not anything extra. You simply need a Solana-compatible software wallet to connect and start playing.
Fairspin
Despite not using provably fair algorithms, this establishment abides by strict regulatory practices with their RNG systems audited regularly by independent companies. Fairspin is a typical website for games of chance with a rich selection of slots, table games, and even sports betting. The brand has a good track record and has been praised for its service and generous bonuses. However, the absence of verifiable by users RNG may be an issue for contemporary players.
The platform accepts payments in a wide range of tokens and fiat. The problem is that the withdrawal process is still clunky and slow making the experience somewhat tarnished by the necessity to wait several business days to receive a payout. The abidance by KYC policies is a big disadvantage for privacy-conscious people.
The risks of playing in the best cryptocurrency casinos
Despite having numerous advantages and providing the necessary for the industry transparency, there are many risks that a smart player must be aware of. While the vast majority of the issues described below affect newcomers, experienced veterans also face challenges when trying to enjoy their favorite games of chance.
Here are some of the risks that you should consider before playing:
- The regulation is lacking. Many users would like to stay anonymous and hide their gambling hobby from the public eye. It is also a good practice to protect personal information. However, the relaxed approach to customer identification and verification may lead to problems with uncontrolled addiction, underage gambling, and other issues that are heavily regulated in contemporary societies. The lack of formal licensing and the avoidance of regulatory frameworks is normal for the industry with over 60% of establishments operating without any legal approval.
- Potential vulnerabilities. Stake suffered a massive hacker attack and lost over $40 million in user funds. It was a big scandal several years ago. The company covered the losses from its own operational reserves, but this case highlights the dangers that surround the blockchain industry as a whole when a single mistake can lead to terrible consequences. Scams, hacks, and other attacks in the industry accounted for over $1.9 billion in lost funds in 2022.
- The market volatility affects winnings. You may feel like you are making a bank when spinning the roulette wheel. However, the value of your tokens can drop significantly while you are playing. Calculating losses and gains is quite important for experienced players who keep track of their winnings in games of chance. The volatility can dramatically affect the bottom line of your gambling hobby.
- Users are not protected by law. The lack of any kind of consumer protection in the blockchain industry as a whole and its gambling sector in particular makes it hard to justify high-rolling and making huge bets. Over 70% of all market participants do not fully understand what it means to have to legal recourse in case of something going south with your holdings or if you feel wronged by providers of adult entertainment.
- The ethical issues. The increased accessibility of games of chance makes the whole industry more convenient for responsible players and allows them to enjoy their hobbies without any issues and hassles. However, these same benefits may negatively affect people prone to addictions and struggling with uncontrolled spending. Since many of the companies in the blockchain gambling industry do not provide any support and resources to their clients, the outcomes here are much worse.
These issues are being worked on by the participants of the industry but we are still far away from good solutions and regulatory frameworks capable of improving the ecosystem for everyone. Being aware of all potential risks associated with gambling is hugely important for people interested in the growing crypto market. Playing games with digital assets that have a potential for price appreciation may not be the best strategy in the long run.
Note that many retail investors often have spare funds that are not locked in stakes or short market positions. The income generated by using tools like AI crypto signals and advanced automated trading systems often feels like free money and investors do not feel remorse for using it on their favorite hobbies. However, it is a much more reasonable and rewarding approach to reinvest the assets into trading activities.
We also want to add that choosing provably fair algorithms over traditional RNG systems can be slightly more rewarding and safer. If you feel that urge to pick one of Bitcoin casinos for 2024 and start playing, check the fairness page and learn how your platform of choice verifies outcomes. Otherwise, projects like SolLegion or Poliflip could be a better destination.