Crypto Gambling – What Is It? [List of Top Crypto Casinos]

What Is Crypto Gambling

eGambling is surely not a new concept. In fact, it has existed for hundreds of years, dating back to 14th century Japan.

Today, however, gambling has outgrown its humble beginning and has turned into a global industry that’s valued at billions of dollars and is constantly upgrading.

So, if you’re someone who likes to gamble, then you’ve probably heard about crypto gambling, one of the most recent and popular forms of gambling.

And to no surprise, considering that cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc, are also becoming more popular by the day.

Well, for all its appeal, crypto gambling is still a fairly new method of gambling, so it’s totally normal if you want to learn more about what it is before trying it out.

This is exactly what this article is here to tell you!

Read on to explore the ins and outs of crypto gambling, including:

  • What Is Crypto Gambling?
  • What Is a Crypto Casino?
  • What Are The Benefits of Crypto Gambling?
  • What Are The Best Crypto Casinos?

And more. Let’s dive right in!

What is Crypto Gambling?

As the name implies, crypto gambling is just like traditional gambling but uses cryptocurrencies such as Bitcoin, Ethereum, etc, instead of regular currencies.

Just like with normal gambling, you can use cryptocurrencies to gamble on games like poker and bet on different sports results; however, crypto gambling also uses blockchain technology in addition to traditional methods to ensure game fairness.

Nowadays, crypto gambling is more popular than ever, with the majority of people who play using the most famous tokens such as Bitcoin, Ethereum, Litecoin, and so on.

Finally, crypto gambling takes place either on traditional gambling sites and establishments or in dedicated crypto casinos.

What is a Crypto Casino?

A crypto casino is a casino that accepts cryptocurrency withdrawals and deposits to gamble. You can find virtually any of the games typically played on a traditional casino, including crypto roulette, crypto blackjack, crypto dice, crypto poker, and even crypto sports betting and esports betting!

Typically, crypto casinos only accept cryptocurrency as their medium of exchange, though some are known to accept credit cards and bank transfers as well.

For people specifically looking to gamble with cryptocurrency, crypto casinos are perhaps their best option to do so.

What Is The Best Crypto Gambling Website?

With the long-standing popularity of gambling and the emerging popularity of cryptocurrency, crypto gambling sites are popping up everywhere.

So, figuring out which crypto casinos are the best to use might get confusing for crypto users (and particularly newbies).

While there are certainly many options to choose from, Stake.com is one of the best gambling sites on the market. This is due to a mix of innovative gambling features and a wealth of options for crypto users.

Stake.com is home to some of the best casino slots in the gambling business. On top of some of the more traditional ones, Stake.com also has themed crypto slots featured on specific days of the week and certain holidays, as well as exclusive slots for premium members. This means that whenever you log onto the site, there will always be something new to experience.

As for its sportsbook, Stake.com is well-known within the industry for having one of the best, even winning awards for it. Moreover, because the site caters to such a diverse clientele, its gambling features are always being updated and improved.

Last but not least, Stake.com accepts all major tokens for deposits and withdrawals and the site also has 24-hour customer support for whenever an issue might arise.

Why Gamble With Crypto – 3 Crypto Gambling Benefits

While a lot of people are using cryptocurrency as a medium of exchange or as an investment vehicle, you might still struggle to understand the idea of crypto gambling. After all, gambling services with fiat currency are the status quo, so why would anyone use cryptocurrency to gamble?

Well, actually, crypto gambling offers a world of benefits you won’t get anywhere else, including:

  • Cryptos often fluctuate in value so the amount you win from gambling might be more valuable than the amount you initially bet.
  • Cryptocurrency offers greater levels of privacy than betting with fiat currency. That’s because any amount of earnings you make in crypto gets transferred directly to your anonymous e-wallet instead of your bank account or credit card.
  • Cryptocurrency is decentralized, which means there are fewer restrictions on how much you can transfer to crypto gambling sites.

7 Best Crypto Gambling Websites

With the plethora of crypto gambling sites on the market, it might be hard for the average crypto lover to choose but, luckily, there are several crypto gambling sites that most people are sure to love.

Here is a list of the top 7 best crypto gambling sites to choose from:

#1.Stake.com

stake.com - what is crypto gambling

Stake.com is one of the biggest crypto casinos in the world and is known for its partnerships in the sporting world. Since it started in 2017, it has sponsored both Watford FC and the Ultimate Fighting Championship (UFC).

Besides being a big name in the crypto gambling sector, Stake.com is also known for its array of features.

Key Features

  • Supports over 100 different cryptos, including Bitcoin and Ethereum
  • Features over 1,000 games to play and bet on
  • Sponsor of major sporting events and clubs

Pros

  • Quick and easy withdrawals and deposits
  • 2-factor authentication to ensure security
  • 24-hour customer service
  • Interactive community (its Reddit page has thousands of users)

Cons

  • The site has been blocked in some European countries and is not yet available in the United Kingdom

#2. Bitcasino

bitcasino - what is crypto gambling

The first-ever online casino to introduce bitcoin for live dealer games and the first-ever licensed online crypto casino, Bitcasino has stayed on top of the industry for years, and for good reason. It has a reputation for being a fast-evolving platform and for having an easy-to-use interface.

Features

  • Android app with over 2,600 games
  • Daily promotions
  • 10% cashback through its loyalty program
  • Live casino games
  • Supports multiple cryptos, including BTC, ETH, ADA, LTC, and TRX

Pros

  • You can cash out in less than 2 minutes
  • Fully licensed
  • Award-winning sportsbook

Cons

  • Does not have an interactive community

#3. BitStarz

bittarz - what is crypto gambling

One of the oldest crypto gambling sites in the industry, BitStarz has maintained its reputation thanks to a combination of continuous promotions and an easy-to-use platform. The site is known for its Wednesday deals, which is when players get extra spins with every deposit they make.

BitStarz is one of the most reputable sites in the industry, having won awards like the Best Casino 2018 Player’s Choice Award.

Features

  • Accepts Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Tether, and Litecoin
  • Supports fiat payments as well
  • Plenty of promotions, especially on Wednesdays
  • Dedicated Bitcoin games section
  • Over 2,800 games, including crypto blackjack and crypto dice.

Pros

  • No fees for crypto deposits and withdrawals

Cons

  • 2.5% to 10% fee for fiat payments

#4. Cloudbet Casino

cloudbet casino - what is crypto gambling

Within the crypto gambling space, Cloudbet Casino is known for its focus on sports betting and has catered primarily to this market since it was founded in 2013. At the same time, the site also features live table games and is known for being very generous and accepting of all types of crypto users.

Features

  • Accepts almost all cryptocurrencies
  • 100% match deposit for new players for up to 5 BTC/BCH/ETH/PAX Gold
  • A wide array of sports betting games

Pros

  • Wide selection of cryptos accepted
  • Bonuses for regular users
  • No withdrawal limit

Cons

  • The selection of games is overly focused on sports and esports betting and might be a bit limited

#5. Ignition Casino

ignition casino - what is crypto gambling

For crypto lovers who want to bet on poker games, Ignition Casino is perhaps the best choice. The site is known for a large selection of poker games like ‘Bonus Poker,’ as well as several tournaments where you can earn thousands of dollars.

This casino also offers many promotions, including an up to $3,000 welcome bonus and a weekly boost of up to $100 for its users.

Features

  • Welcome bonus of up to $3,000
  • A wide library of over 2,500 games
  • Poker tournaments
  • Weekly bonus feature

Pros

  • A wide array of poker and casino games
  • Large welcome and weekly bonuses
  • 24-hour customer support

Cons

  • Only accepts a limited number of cryptos

#6. mBit

mbit - what is crypto gambling

One of the top crypto-only gambling sites in the world, the mBit site has been on the scene for over 7 years and has built up a reputation of being a user-friendly home to thousands of games.

Features

  • Over 2,000 games, including poker, slots, and blackjack
  • Accepts all the major cryptos

Pros

  • Fast customer service in several languages
  • 110% bonus on first deposit

Cons

  • No conversion of tokens within the game can restrict users from playing with their cryptocurrency of choice.
  • Only accepts the major cryptos like Bitcoin and Ethereum.
  • Payouts of over 10 BTC can only be withdrawn in installments.

#7. 7BitCasino

7bit casino - what is crypto gambling

7BitCasino has a dedicated following of users from all over the world and this is thanks to their seamless user experience and the quality of the games they offer. From the easy sign-up process to its bevy of bonuses, 7BitCasino lives up to its reputation.

Features

  • Accepts several cryptos and fiat currencies
  • Offers a wide variety of games

Pros

  • A quick sign-up process that doesn’t require email confirmation
  • 100% welcome bonus of up to $100
  • Weekend cashback scheme
  • Free spins offered on Wednesdays
  • Bonuses for VIP members

Cons

  • Limited customer support as some users report that there is no hotline

How to Gamble With Crypto

After choosing a crypto casino that meets your tastes, you might be wondering how to get started with crypto gambling.

The good news is, the process is fairly easy and only consists of a few steps, which are:

Countries Where Crypto Gambling is Legal

While crypto gambling is a popular way to use cryptocurrency, it is not legal everywhere. Fortunately, there are several countries where crypto gambling is legal, including:

  • The United States
  • Canada
  • The United Kingdom
  • Japan
  • Australia
  • Curacao
  • Estonia
  • Germany
  • Finland
  • Denmark

Countries Where Crypto Betting is Illegal

Crypto betting is tightly linked to the legal status of cryptocurrency in every country, which means that crypto betting sites are illegal in the countries that have outright banned cryptocurrency.

So, if you are about to start crypto gambling, keep in mind that it is banned in the following countries:

  • France
  • Cuba
  • China
  • Israel
  • Ukraine
  • Saudi Arabia
  • Iceland

Crypto Gambling FAQ

#1. Is Crypto Gambling Like Gambling?

Cryptocurrency is more akin to investing in stocks than gambling. In gambling, you are betting on a particular and often random outcome (e.g choosing a certain combination of numbers or a slot machine producing a specific number of icons.) Investing in cryptocurrency means betting that the token you are buying will increase in value, usually due to increased demand or interest in the token itself or its underlying blockchain.

#2. Is Crypto Gambling Legal?

The answer to this question depends on where you live.

In some countries, crypto gambling is completely legal and regulated, while in other countries it is heavily restricted or banned. Before you start crypto gambling, find out about its legal status in your country.

#3. What online casinos accept Bitcoins?

While many more traditional online casinos accept cryptocurrency these days, all the major crypto casinos like Stake.com and Bitcasino accept bitcoin and other cryptocurrencies.

#4. Are there any legit crypto casinos?

There are many legitimate crypto casinos all over the world that guarantee a safe crypto betting process. To make sure you are playing in one of them, check whether they are registered with the gambling authority of the region they operate in (all registered casinos are required to have their certification publicly available on their website).

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