More people Halo69 are playing Bitcoin slots today than ever before. One big reason why is because this cryptocurrency is becoming more accepted around the world.
Bitcoin (BTC) also offers certain advantages over fiat (e.g., USD). And one of the key advantages is that Bitcoin isn’t regulated by a central government or bank, which allows you to use it at more online casinos.
1 – Provably Fair Casinos Let You Verify Slots Bets
Bitcoin is the featured currency at provably fair casinos, which give you the ability to verify the fairness of slots wagers.
Provably fair casinos instill more trust in their slots by giving you the option to check the authenticity of your bets. These sites know that they can’t cheat you because everything can be checked through blockchain technology.
Regular online casinos require third-party auditing to ensure fair gaming to their customers. Provably fair casinos don’t need this, though, because you’re essentially the auditor.
You need to know three main variables to check your slots bets at these sites:
Server seed – Provided by the casino
Client seed – Provided by your browser
Nonce – This number increases every time you bet and identifies each wager
Prior to your slots bet, the casino provides an encrypted hash with the server seed. You receiving this seed means that the casino can’t alter your slots results.
The server seed also guarantees that you can’t hack into it and discover the result of your impending wager.
Your browser sends the client seed, which interacts with the server seed to determine spin results.
All this works in unison to make sure that you and the casino agree to fair betting. No third-party auditor is needed because provably fair casinos ensure that neither side can cheat.
This is great if you’ve ever worried about online casinos offering faulty software that can cheat you.
2 – Making Bitcoin Casino Deposits Isn’t as Hard as It Seems
The biggest barrier to playing Bitcoin slots is acquiring BTC. But getting started with Bitcoin and depositing it at an internet casino isn’t difficult.
You can complete this task in a few simple steps. The first step is to visit an exchange site that allows you to buy Bitcoin with fiat.
Coinbase, Gemini, and Kraken are three of the most popular sites for this purpose. You then need to create an account and link a payment method to it. Some banks make it difficult for their customers to purchase Bitcoin.
However, you should be able to find one or more banks in your area that let you use either transfers or debit cards to deposit at an exchange.
Once your account is created and funded, you can proceed to purchase BTC. Simply navigate to the area where you buy Bitcoin and enter how much you’d like to purchase.
It should take 15-30 minutes for the transaction to complete after you verify it. The timeframe can be quicker or slower depending upon the network’s traffic.
Once you get BTC, you can either keep it on the exchange before transferring it to a casino or create a Bitcoin wallet. The latter isn’t difficult to do, and you can find plenty of online tutorials on creating a wallet.
Next, head to the online casino and visit their banking area. Navigate to the Bitcoin option and generate a wallet address.
This is the recipient address where you’ll be depositing your Bitcoin. Go back to your exchange or Bitcoin wallet, then send a specified amount of BTC to the casino’s wallet address.
I highly suggest double checking the address so that you don’t send your funds to the wrong place. Of course, it’s not difficult to get the recipient address right when considering that you can just copy and paste it.
Your Bitcoin funds will arrive in your casino account within half an hour or less. You’ll then be ready to play BTC slots.
3 – Players Have Won Some Huge Bitcoin Slots Jackpots
One of the biggest reasons why people love playing internet slots is because of the huge jackpots. And Bitcoin casinos have paid out some very large prizes over the years.
The largest Bitcoin slots jackpot came in September 2013 when a player collected a prize worth 11,000 Bitcoins.
This payout was worth $1.5 million at the time. Assuming the player had won this jackpot at today’s BTC prices ($7,793.15), their payout would’ve been worth almost $86 million.
The second-biggest Bitcoin slots jackpot happened in May 2014 when a player earned 765 Bitcoins. Based on the prices back then, their win was worth $550,000.
One of the most recent large Bitcoin jackpots came in January 2017 when somebody won 260 BTC. This payout was valued at $275,000 at the time.
These prices show that Bitcoin slots are like any other slot machine in that you can win a life-changing payout.
4 – Bitcoin Slots Jackpots Haven’t Caught Up to Fiat Jackpots
I just went over three huge slots prizes that were won at BTC casinos. But even as big as these payouts are, they pale in comparison to the largest fiat jackpots of all time.
The biggest internet slots win ever came in September 2018 when an anonymous Mega Moolah player won $20.1 million.
This beat the previous record held on Mega Moolah, when British soldier Jon Heywood hit a prize worth $17.9 million in October 2015.
There are also plenty of other huge progressive online slots jackpots right now that are worth between $1 million and $12 million.
I’m not saying that Bitcoin slots can never offer jackpots that rival the biggest fiat payouts. They can especially do so if BTC gains more acceptance across the world.
But there’s quite a gap between Bitcoin’s record of $1.5 million and the $20.1 million regular online slots jackpot. Furthermore, the $1.5 million BTC win occurred over five years ago, showing that these wins don’t happen often.
Of course, using BTC to play online slots is somewhat of a shock when you’re used to fiat currencies. Therefore, you should know certain things before playing slots in any Bitcoin casino site.
I’m going to discuss some of the good and bad aspects of playing slots with BTC. This post will also help you get started on gambling with Bitcoin if you don’t already know how.