All about BITCOIN CASINO you should know
Digital currency bitcoin has established new economy like other traditional economies. Transaction through bitcoin is gaining popularity everyday. This currency has also enabled arenas for different games through online bitcoin casinos.
HOW IT WORKS
The most popular bitcoin currency is also named as Cryptocurrency. A small number of casinos are transacting only in bitcoins and other offer bitcoin as an additional currency of transaction. Many casinos offer money based games in bitcoin currency.
Nowadays bitcoin casinos are operating world wide and are offering variety of options for players to bet their bitcoin money on different games like:
- Online lotteries;
- Sports based games;
- Gambling games;
- Casinos games etc.
Here is the list of few popular bitcoin casinos:
- Satoshibet .
How it operates
Software plays an important role in any online gambling or online gaming business and same happen in bitcoin casinos. Top casinos operate through their own gaming software. It plays a role of the table dealer (conduction of game).
Because of the digital nature of these games, it is important to convince the player about fairness of operation and it is main challenge face by casinos in convincing their users. Many casinos maintain their trust by openly telling their user about how their software work for them.
REASON OF GAINING POPULARITY
To provide unlimited free daily transaction with zero fee is the main reason why bitcoin casinos are gaining popularity while other traditional casinos take transaction fee. Other main reason is its easy availability to all global users, round the clock.
Why bitcoin casino is under check
Unlike the bitcoin casinos, transactions of traditional online casinos in traditional currencies have defined the regulations a good deal. It enables in tracking and identification of players, dealers and casinos operators.
Because the operation of bitcoin casino is digital, the verification and audit becomes a challenge. The shuffling and distribution of data doesn’t guarantee its transparency.
Worldwide gambling is not allowed and casino bitcoin has made it all tough to control and purge it at global level.
Very little information like email and name is required from the user and it doesn’t asks for the personal and sensitive information, age verification etc.
In account of the above provisions, a new economy is spreading its roots despite of all the challenges associated with the bitcoins casinos plus casinos based gambling becomes a big challenge for authorities and associations.
Towards the legal aspects
It is to be mentioned that use of bitcoins for transactions in US is banned because of problems listed above. Still outside US, a legally working bitcoin casino was incorporated which attracted the interest of not only all the users all over the world but also from US thereby making it more difficult to legalize the transactions and rules enforcement was made all more tough.
Impact of bitcoin casinos and international debates
Launching of attractive gaming sites once increased the total daily bitcoin transactions nearly five fold!
Due to lack of neccessory information, it has become hard to access for the impact of bitcoin on transactions and on bitcoin itself.
This topic of such an excessive use just for easy money making and for exciting but illegal intensions has also started debates on ethical grounds because of sensitivity of issue.