In our general experiences here at Crypto.Casino, the separate but tightly tied together subjects of cryptocurrency and casino gambling are incredibly divisive among people young and older, producing a consumer commentary consensus that's conflicting and volatile; people are either positive or negative, with little room for complexity. No matter the nature of people's responses, the two subjects do represent something that's vastly interesting when considered together–something that goes beyond entertainment and average financial transactions.
And that something is a meeting of different eras–the old guard and a newer way.
No longer is gambling confined to brick & mortar establishments in locations far away and expensive to visit, nor are they limited in money that's accepted for wagers. Marrying the gambling of yesteryear with the technology of the present and the possibilities of tomorrow, these "Crypto Casinos" will only grow from this point forward. And with that growth comes the steady lessening of worry and concern from the initially confused, the secure and open world of new digital paths, and entertainment value that's convenient and fast.
Convenient and fast. Not unlike how every time someone orders from a fast food chain nowadays, where automated digital voice programs might be taking an order, people subsequently place a wager and gamble on the taste of their food and their bodily health. This isn't a warning or meant to be some foreboding message of doom toward the future of cryptocurrency, not at all. What this means is that with innovation and progress comes chance and uncertainty, and how, no matter the stakes, we gamble for the sake of moving forward.
The following beginner's guide will help define these online platforms and give broad overviews on everything from setting up accounts to planning transactions to being cautious about spam and scams. Beyond casual gameplay and knowing what makes some games more popular than others, we at Crypto.Casino use our extensive research and experiences to provide solid baselines for all users, readers, and players to easily grasp and move on from, so that they don't need to wait too long to get gaming and gambling.
After all, that's why you're here. And that's why we're here.
What Are "Crypto Casinos?"
As touched on above, the addition of the new digital paradigm that is cryptocurrency into the long established world of casino gambling has been, without a doubt, both intriguing and curious for fans and skeptics alike. It'd be fun to speculate just where this new version of the gambling industry will head towards, but no amount of thought will be able to settle up the future without an understanding of where things rest in the present.
Defining a Medium
Stating things as simply as possible, a "Crypto Casino" can be defined as being an online casino and gambling platform that accepts cryptocurrencies for some or all transactions. These transactions can include deposits for betting, payments for losses, and withdrawals for winnings.
Crypto casinos, the reputable ones, base most of their rules and principles off of the digital Blockchain system (important to cryptocurrency technology), which helps ensure the security and transparency of their, and ultimately your, sensitive data and information. There are thousands of these casinos and sites all over the world that offer crypto games and gambling, and that list shortens and grows (with rapid shutdowns and launches for some) each and every year, give or take the operations of particular platforms.
Starting in 2012, just a few years after the birth of bitcoin, the first crypto casino - SatoshiDice - was launched by Erik Voorhees, as inspired by the creator of the original currency, Satoshi Nakamoto. Since then, inevitable practices of innovation by engineers and exploitation by charlatans occurred (and continue to occur), though that is a given with any new invention, technology, or product.
As a whole, however, crypto casinos are not defined by any issues involving bad agents, but rather through an evolution of a medium that combines online gaming with convenient digital transactions, bringing more accessibility and anonymity to gambling games and movements of money between consumer and company, as well-secured as possible.
New game and entertainment mediums like online crypto casino platforms are either going to burst with attention grabbing hooks due to their talent and programming effort, or will go the way of passionate but naive restaurant owners, in over their heads and learning hard lessons. Or get rich quick scammers, just looking to increase their own digital wallets. These are the pioneering days of online entertainment, and we're only a few decades in. What will come about going forward? Can the new way of crypto and digital value compromise or even overtake the tried and true but possibly outdated old guard of paper cash?
The Old Guard and a New Way
More than what brick & mortar shops could ever hope to offer, online casinos met (and still meet) internet users right where they worked, read, and played; their computers. It's funny to think of the 1980s and 1990s as being part of an "old guard" in relation to the development of online crypto gambling, but it's true. It's all tied together with the days of dot matrix printers and dial up connections, and with the old physical casinos lumped in too.
Without getting into the legal and regional stuff yet (lookout for that information below), both the "traditional" casinos and the online ones have plenty of space to meet in the middle with one another, and be able to maintain business interests and thrive in this new industrial landscape. Until certain regulations catch up, cryptocurrency exists in the middle ground between these two ways to gamble, and is the bridge between the tangible and the digital that'll move everything into the future.
To explain this better, think of crypto casinos in terms of control and autonomy. Decentralized systems, also known as "DeFi," make it so that there is no singular or central figure that manages a given space. In other words, with crypto casinos, it's the players who verify things from game fairness to their own funds. In traditional casinos, online and in-person, it's the house that oversees everything and where everything goes through.
For crypto enthusiasts and evangelists, central control isn't what is wanted anymore. More hands on experiences, more inclusion and access, and more options are now the default demands. This isn't entitlement to them, but righteousness. And it's catching on, from generation to generation.
Safety and Standards
In more traditional or "physical" casino locations, surveillance is everywhere, from security personnel to cameras–otherwise known as "eyes in the sky." Everyone is out to make a loot of cash, even if and especially if that means going against the rules and regulations. In this scenario, both parties have to try and trust one another.
In the realm of crypto casinos, which use the world wide web as host and domain, there are indeed terms and conditions applied to all users and players. However, no matter any of the limits or regulations placed against anyone, the issue of trust becomes more of a one way street, falling on the platform to prove itself as safe and reliable.
Creating and Preserving Fairness
Among the standard rules put in place by the top-tier platforms, the "Provably Fair" ones are likely some of the more well known by regular players. As suggested by its name, games and casinos that operate within provably fair parameters feature methods that allow players to verify for themselves if gameplay and results were, indeed, fair. Using two seeds of data (generated by user and platform), any player can use a third party program to combine the numbers, showing the outcome/results cleanly and without surprise.
This is the present-day normal and the industry standard, known as being a "trustless" program–as in the trust itself has been placed in the player's hands or, rather, it's been decentralized.
At some online casinos, decentralization of fairness verification is a step too far, or perhaps too costly a move. For a time, the relied upon method was the peace of mind provided by random number generators (RNG), which take user autonomy out of the scenario, and generate numbers and sequences absolutely randomly. Trust, in this case, was forced upon players. This isn't to suggest that RNGs are altogether terrible, but that having multiple options and open awareness is a much better way of going about keeping everything and everyone on their toes.
Private iGaming
On the subject of crypto casinos, the one thing that can strike with confusion is the dueling concepts of transparency and privacy. Is it that there's a question of how someone or something can be anonymous when there's an open trail of information that can be sought and found? Or is it just a general feeling of unease about whether or not a person can be truly anonymous online?
For beginners, playing on crypto casinos can have a learning curve for sure, but it's important to note that complete and finite anonymity isn't exactly possible in iGaming. Using the blockchain, online crypto casinos do offer players options for masking their names and all, a form of being "pseudonymous," but ultimately there has to be some sort of vetting or confirmation that they are a real person. Email addresses, mailing locations, digital wallets, and more can be used to this end, and the more reputable a platform, the less users have to worry about their information being shared or stolen.
That being explained, there are ways to strengthen private gaming profiles, like choosing a platform that doesn't use KYC (know your customer) procedures, and making sure that the selected casino is decentralized (of course). Other methods are trickier than others, but alternative options are available.
Crypto Casinos in the USA
To those in the Western hemisphere of the world, Crypto Casino gambling might just be in sight but out of complete reach. Opposite of what most other countries have declared, the United States has pretty strict regulations toward casinos, online or otherwise, with specific details left up to individual states. Depending on where a user lives, there may be restrictions to what can be played and in which currency a person can use to wager with.
It might be a bit complicated, requiring some local and regional research from interested users, but there are crypto casino options available in America:
Sweepstakes
Marketed more by their entertainment aspects than anything else, Sweepstakes Casinos don't really count as crypto casinos. A player can, however, buy digital Gold Coins (that aren't real tender but are "for fun") then earn Sweeps Coins which can be transferred to crypto or cash later as winnings and rewards. The vast majority of states consider these platforms to be ok, but there have been some lawsuits regarding intentions.
Regulated and Licensed
Allowed in roughly a handful of states, these online casinos are heavily regulated, and also don't have cryptocurrency features. To use crypto at all, a user would have to convert to USD through a middle party of some sort.
Off-Shore Outlets
If someone were to pursue playing on a true crypto platform that's licensed abroad, they should note that there are no consumer protections at the U.S. federal level, should anything happen to their money. Play responsibly, and bet carefully.
FAQ
Wrapping up, online casinos that accept cryptocurrency (crypto casinos) are growing in popularity all across the world. Reported statistics have concluded that there's been a 30% year-over-year growth, due primarily to what the blockchain system and the possibilities that decentralization has to offer consumers and iGamers alike. Are people wanting extra levels of transparency and accountability in this day and age? All things considered and as the world turns, an expansion of freedom into our digital spaces and for our virtual avatars looks to be what's happening: the continuation of the original promise of the world wide web, now ever-expanding.
Online casinos, before the digital currency boom, was this convenient novelty that altered perceptions of what the internet could offer, more specifically the concept of people buying and making money online–from home even! With that innovation came advertisements, and with that came scams and exploitation, souring the good will that online progress had opened up. Pop-up windows, intrusive chat requests, and unhelpful customer service representatives all contributed to the need for trust in this newly accessible communication tool. But could there be any kind of compromise found between the philosophies of absolute expression and fair regulation?
Of course there could be. And, of course, it came eventually.
Stopping there, before we get too deep into history in this final guide section, it's fair to suggest that the inclusion of cryptocurrencies and blockchain-based security into the online gambling industry was not just a validation of this new technology, nor was it an act of inevitability or some grand gesture to an uncertain community. Excuse this hyperbole, but the creation of online crypto casinos was and still is an expression of forward thinking momentum that can be found on the information super highway.
And with all of that, comes some additional questions:
What is one explanation for the popularity of crypto casinos?
With each passing year since the launch of the first crypto casino in 2012, the popularity of this new medium has grown steadily and even exponentially. These online crypto casinos, with the rise and proliferation of digital cryptocurrencies and the continued success and convenience of online casinos in general - merging entertainment, money, and convenience into one outlet - have shown that replacing average money that goes through bank processors with crypto can more often than not lead to faster withdrawals and deposits. Immediate actions like that lead to more positive reactions from consumers and gamers alike, who'll then potentially have memorable experiences at the very least, and extra money at the most.
Are there similarities with the games that traditional online casinos and crypto establishments offer?
Indeed, there are things that traditional online casinos share with their crypto counterparts. For example, both kinds of platforms feature many of the same games, from generic genres to specific titles. Slots, table, live dealer, and more, are provided with some of the best and most entertaining games by some of the most talented game developers and programmers. And it's with the help of these developers and programmers that gameplay innovation continues. Some players like the tried and true slots, others prefer the fresh feel of a live dealer, performing in real time. No matter the outlet, traditional or crypto, online casinos do share much between one another when it comes to the games, though it's through competition that these differences are found.
What are some notable differences between these two types of online casinos?
When broken down, what separates traditional and crypto online casinos are three pillar functions: speed, transparency, and convenience. This isn't to suggest that traditional online casinos are somehow lesser than or worse for players to use, but the following highlights the advantages that crypto technology has over previous iterations of these kinds of platforms. The iGaming industry as a whole presents many options to current and potential players, but proper research is key for every individual to help them come to a decision of choice for themselves.
Speed
Let's say that, after many games of roulette, a player has earned enough winnings to cash out and initiate a withdrawal of funds. Barring any identity verifications that could halt the proceedings, transfers between institutions can take a few business days or longer. With cryptocurrency, that time is cut down to maybe a day or, better yet, a few hours. This is due to the elimination of intermediary processes that other companies have in place. The less hands the winnings go to, the faster a player will see their reward.
Transparency
The promise of decentralized networks means an increase in accountability and transparency. With online users getting on board with such networks more and more, the demand for more information and more personal control has only increased throughout internet domains, including those of crypto casinos. These platforms and outlets have mostly accepted the challenge by embracing the blockchain meanings and mechanisms, ensuring gameplay where there's little to no tricks or treats to be found up the sleeves of the dealers. In fact, in live dealer streams, multiple camera angles provide both a sense of security and openness that eschews any "behind the curtain" mystery.
Convenience
While both traditional and crypto casinos offer the luxury of experiencing gambling from home or anywhere with an internet connection, only crypto casinos have the convenience of anonymity when playing, betting, and winning. Does this conflict with transparency rules? Not so much, as more or less, this is a way to protect a player from having winnings or their identity hacked. The blockchain keeps the games going and the good times rolling, without having to open your profile to strangers and scam artists. Like in a brick & mortar casino, all that matters is what you have in your wallet.
Not necessarily, though doing so might make gameplay and setting things up go much more smoothly. One would think that a crypto casino could only accept cryptocurrencies, just by virtue alone. There are, however, a few different types of these platforms, each with their own ways of assisting current and potential players.
Hybrid establishments allow for various currencies to be used, deposited, and won. Some may push crypto as the preferred tool, but it's up to a given player. Those with direct buy features give players another hybrid choice in payment options, while also granting a chance to buy crypto directly with the payment method of your choice.
There are other variations on this, but for beginners, bookmark direct buy sites for future reference.
Do crypto casinos offer free games as a trial before signing up?
Absolutely they do. Crypto casinos, as do traditional online ones, consider the potential return players, and offer practice games or "demos" to both give them a minor taste of what could be a grand overall experience, and to sell them on coming back and betting for real. In these demo modes for practice play, players won't usually be able to withdraw winnings, but they don't need to sign up for an account or deposit actual money. Some crypto casinos will granny micro deposits of cryptocurrency for actual play, but again, not all platforms do this, and you still might not be able to withdraw winnings without an account.
Is there anything that I should look out for when researching the safety and security of a crypto casino?
Of course, as there's always levels of risk with any online casino platform, especially ones dealing in new technologies and digital money.
Be sure to seek out a "fairness" tag on the site, which will indicate the implementation of the provably fair system. Find the casino's license and make sure that it's legitimate by finding its online registration. Secure casinos have to offer two-factor authentication - if one only has a simple password setup, a potential player should likely stay away.