How to play at a bitcoin casino.

This is a quick guide on how to start playing with bitcoins at a bitcoin casino.

Already this sounds like exactly the kind of guide that you find after taking a wrong turn on the Internet; but, seeing as you're already here, I'll give you a quick guide to how one might gamble at an online bitcoin casino.

1. What is a bitcoin casino?

A bitcoin casino is just a normal Internet casino that allows you to gamble with bitcoins…

Me winning 100 chips (0.1 BTC) on roulette at betcoin.ag. Time to retire and buy a yacht.

Me winning 100 chips (0.1 BTC) on roulette at Betcoin.ag. Time to retire and buy a yacht.

Your typical online casino is a website that allows you to play various casino games in your browser. Each game gives you different odds, so you can set amount of money to gamble with and place it on a bet with a risk/reward ratio that takes your fancy.

So in online roulette for example;

  • You could bet $10 on red, and get $20 back if you win. (this happens 1 time out of 2)
  • You could bet $10 on the number 8, and get $360 back if you win. (this happens 1 time in 37)

So an Internet casino is a place that will take your money and allow you to apply some risk to it through the programmed games on their website.

A bitcoin casino is therefore an online casino that allows you to apply risk to your bitcoins.

2. How do you make a deposit at a bitcoin casino?

I'm assuming that you've already got bitcoins that you want to gamble with. If you haven't, the best place to buy them is from localbitcoins.com.

Now all you need to do is to create an account (at the bitcoin casino you like the look of the most), and send bitcoins to the bitcoin address that they give you with your account.

For example, here's what my bitcoin address looks like at Betcoin.ag:

The bitcoin address will be in your profile area (or somewhere like that - it's going to be pretty obvious).

The bitcoin address will be in your profile area (or somewhere like that - it's going to be pretty obvious).

I keep my bitcoins in Electrum (a lovely little bitcoin wallet that I use on my laptop), so I'll send some bitcoins to the casino address using that:

Sending bitcoins using electrum.

Now the payment data has been sent in to the bitcoin network. All I need to do now is wait for 1 confirmation (or however many confirmations the bitcoin casino requires), and I'll be able to start playing with my bitcoins in the casino games.

3. What is a confirmation? (and why have I got to wait for it?)

When you make a bitcoin transaction (like I just did), the transaction data goes in to a pool of new transactions on the bitcoin network.

So the bitcoin network has the transaction data in temporary memory, but it hasn't yet been engrained in to the big file of transactions, which is like the solid ledger book of bitcoin.

And a transaction is only "set in stone" when it enters the file.

The transaction has been sent to the network, but the bitcoins are not in my casino account yet.

How does it work?

There are people on the bitcoin network who spend a lot of computer energy trying to add all the newest transactions from the pool to the file. The only way this can be done is to basically spend a lot of computer energy to try and find a specific number. Once someone finds it, all the transactions get added.

This number is just a random number, and it's so hard to find that it's found by a random person on the network each time. And it's this randomness that means that the file of transactions is hard to add to, and cannot be controlled by one single person.

This is what makes the file of transactions secure, and is the backbone of how bitcoin works.

Anyway, a "confirmation" is when your transaction makes it from the temporary pool in to the main file of transactions. Websites who accept bitcoins like to wait for this confirmation first, as it means that your payment cannot be "undone".

My bitcoins appear in my account after 1 confirmation.

Or you could just think of a confirmation as your bitcoins finally arriving at their destination.

4. How much can you win from a bitcoin casino?

In general, you can win as much as you can.

It all depends on the betting limits they have in place on their games. Some bitcoin casinos have higher stakes and limits than others.

5. How do you withdraw from a bitcoin casino?

In the same way you sent bitcoins to the casino.

Just go to your profile (or whatever) and look for the "withdraw" section. All you need to do then is enter the bitcoin address you want to send to (e.g. a bitcoin address in the wallet on your computer) and click send.

Here's what it looks like for me on betcoin.ag:

Shoving one of my own bitcoin addresses in to the "address" field.

It may take more than 10 minutes (the average time for a confirmation) for the bitcoins to appear at the new address after making a withdrawal. This is because casinos like to verify withrawal requests before processing them. However, in most cases it only takes a few hours (or less), and is much faster than the withrawal times at old-fashion-money online casinos.

Conclusion

Congratulations, you've just learnt how to gamble your bitcoins away on the Internet.

Honestly, you could have figured it out for yourself without this guide, because the websites of bitcoin casinos are so easy to use. After you've sent your first bitcoins to the address they give you at the casino, you'll wonder why you even had to ask.

Good luck.

P.S. Oh, and if you're looking for a decent bitcoin casino, you may have noticed that I like Betcoin.ag.

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