Everything you always wanted to know about the Bitcoins

16 June

Bitcoins poker casino y bets

Bitcoins in poker, casino and sportsbook

Bitcoin is the trendy cryptographic currency that has revolutionized the financial world. Its secure, robustness, useful, independent, ... and many other virtues that have made it a reliable currency in many sectors. In poker, casino games and sports betting was not going to be less, especially considering the large amount of money which is moved in the gambling industry. Just a fact to confirm: According to the company H2 Gambling Capital, only bets move a total of 750,000 million euros each year.

The Bitcoin has come to the poker, casino and betting rooms to stay and it is slowly becoming the most common deposit and betting tool. If you don't want to stay behind, don't miss the boat and find out everything you need to know as a gambler about Bitcoin.

10 notes to lear quicly about Bitcoins

  1. What these Bitcoins are?
    Bitcoins (฿ or BTC) are a cryptomoneda or digital currency, it means, virtual and intangible, that is used as an option of payment to buy services or products in the online support.
     
  2. Which is the main advantage of Bitcoins?
    Its peculiarity that has made it succeed in the market is the decentralization, it means that this currency does not depend on any government nor the trust in a central emitter. Bitcoins are controlled by the users themselves through their transactions, indirectly through the P2P (Peer to Peer) exchanges.
     
  3. How does it work?
    From your computer, tablet or mobile, you can buy Bitcoins with any application available for it (we recommend you to try Xapo and we also offer you a $10 discount to create your Xapo debit card) and from your digital wallet you make the transaction making use of a private key and your digital signature.
     
  4. Is there a fee to pay with Bitcoins?
    Paying with Bitcoins means paying without intermediaries: the money goes directly from buyer to seller or from individual to individual. This reduces the price of sending money substantially and also allows to sell products and services at a fairer price. Users can include a rate on their transactions to receive priority in processing these, resulting in faster confirmation of transactions by the network.

  5. How much it cost a Bitcoin?
    Its production and value is based on the law of supply and demand and it's calculated by an algorithm that measures the number of transactions with Bitcoin in real time, so it's very difficult to calculate an exact value. Bitcoins are listed as the most unstable currency in the present market. Today (June 2017) its price would oscillate €2,198.03, however if you had purchased €100 Bitcoins in January 2010 and sold them in November 2013, you would have obtained €120,000,000. If you want to know how much the value of a Bitcoin is right now, click here.

  6. Is it legal to use Bitcoins in all countries?
    It's not considered legal in any country to date, however it's not illegal either. Only Thailand has banned transactions with Bitcoins within its territory and some countries (such as Argentina or Russia) have severely curtailed foreign currencies, and Bitcoin has also been affected.

  7. Why Bitcoins are safer than traditional money? 
    Bitcoins users have complete control over their transactions; so it is impossible for traders to force unwanted or detected charges, as it can happen with other methods of payment. Bitcoin payments can be made without being associated with personal information. This offers a high level of protection against identity theft. Bitcoin users can also protect their money with backups and encryption.

  8. What is the main drawback of using Bitcoins?
    There is an increasing number of businesses and individuals using Bitcoins, however its main drawback is that its use and acceptance is still very limited, in order to fully benefit from its network effect. In addition, the Bitcoin software is still in the beta phase with many incomplete features in development.  

  9. Is there a fraudulent use of the Bitcoins? 
    It is the safest means of payment today, but decentralization and anonymity have made the Bitcoins the preferred form of payment for fraudulent transactions such as the sale of drugs or money laundering.

  10. Which is the future for Bitcoins?
    Much of the trust in Bitcoin comes from the fact that it does not require trust. Bitcoin is completely open source and decentralized, which makes it succeed more and more. As traffic grows, more Bitcoins users will use lighter clients and network nodes will offer a better service, until reaching the fixed limit of 21 million coins in 2030, when the Bitcoins will be divided up to 8 decimal places (0.000.000 01 BTC) and even smaller units if this is required in the future.

As a conclusion, we summarize the points you just read in the following video:

What should I know about Bitcoins if I am a poker player, casino or sports betting?

Now that you know what a Bitcoin is, you will have realized its undeniable utility in an area where money moves a lot as it is poker, casinos or sportsbooks. The rooms are aware of this and they have begun to integrate the Bitcoin as a modality between their forms of payment

Which rooms are the Bitcoins accepted?

If you are decided to be a Bitcoins user, do not lose sight of the following list of rooms where you can deposit with this digital currency:

What advantages do I get by depositing or betting on Bitcoins?

Transaction fees on electronic wallets such as Neteller or Skrill or simply, commissions for currency exchange are increasing. In addition the different game regulations by country also put enough obstacles to obtain benefits in the online gambling rooms. Well, with the Bitcoins all those complications are over.

There are so many advantages that a gambler can find in this new form of payment compared to traditional forms of deposit, that we are going to summarize them in a chart: 

FEATURES

ADVANTAGES

BENEFITS

Global currency

Allows you to buy anywhere, from anywhere. No exchange rate

Comfort and savings

Decentralized

Never close

Savings

Limited number of Bitcoins

There are no surprises of inflation

Future security

Irreversible payments

For sellers, the threat of chargebacks is eliminated

Security, warranty

No hackeable

Robustness

Trust

Anonymous

Hardly binding

Security and guarantee

It works 24 hours

Available immediately

Comfort, instant, exclusivity, security and tranquility

Transparency

Everyone can see everything but not whom

Transparency, guarantee and security

No commissions

Lets move money without paying commissions (it's cheaper)

Saving and comfort

To summarize, thanks to Bitcoins your bet or deposit is:

  • Anonymous: no limitations to be a winner
  • Cheaper: we can save on commissions and tax on our profits
  • Globalized: it does not matter the tax legislation of your country

Are there exclusive promotions for Bitcoins?

Yes. More and more rooms are encouraged to offer exclusive promotions for depositors in Bitcoins. For example, it is increasingly common to find a special Welcome Bonus for those with use Bitcoins as a payment option, along with the traditional Welcome Bonus (paid by bonus). This way you can enjoy a double Welcome Bonus;)

Bodog is one of these rooms and in HabWin we have been promoting that some time ago: if you have a Bitcoin wallet, you enjoy the Welcome Bonus of $1200 in Bitcoins in Bodog. This is a valid promotion for Bodog Casino and Bodog Sports (not for poker) In addition to the bonus in Bitcoins, you can enjoy the $600 Welcome Bonus at Bodog Casino and $200 at Bodog Sports. Don't miss the opportunity to win double!

Bodog Welcome Bonus Bitcoin

Bitcoin, a successful bet

In conclusion, we think that betting on the Bitcoins is a successful bet, especially in the gambling sector. As we have seen, the advantages it introduces in comparison with traditional currencies are unquestionable. So, if you are considering becoming a professional player or bettor, we recommend that you consider the option of creating your Bitcoin wallet. The only question that may make you doubt is its lack of official support, but we just find there the greatest virtue of this new form of payment and thus, avoid abusive commissions and obstacles in complying with local laws or taxation, which make back our guarantee of benefit in the rooms. Deposit or bet with Bitcoins and join this financial revolution!

promotions

To Top
Our use of cookies and other tracking technologies allows us to improve our Web site and your Web experience. By continuing to browse this site you are agreeing to our use of cookies. OK | More Information