Bitcoin Gambling

One of the most popular ways to earn extra Bitcoin is by gambling. This is, of course, a method that comes with a relatively high degree of risk, but also lots of enjoyment. Many players have enjoyed great success through a combination of patience and clever strategies, which include choosing a gambling site that offers low house edges and other desirable features.

Before You Engage in Bitcoin Gambling, Keep This in Mind

Nevertheless, before you start strategizing and picking your favourite brands or games, please keep the following in mind:

  • Gambling is not suggested if you have an addictive personality.
  • Gamble responsibly, using only expendable income.

Gambling should be 80% about maximizing the odds in your favor and 20% about enjoyment. Unfortunately, most gamblers play in a way that flips the aforementioned ratio around. Most online gambling is done with little strategy and knowledge of the odds. Casinos, in general, rely on these players who are there for the thrill, for whom profitability comes in second place after enjoyment.

Maximizing Your Chances to Win

It makes sense to maximize your probability of winning, but how is this done? Before you even start playing, you should choose a reputable casino to play at and the right game for you. One of the most important factors in game selection is RTP, which stands for Return to Player. It is the percentage of turnover that is returned to the players. In other words, if an RTP is 94%, the casino or gaming site retains 6% of turnover. Therefore, the higher the RTP, the better for gamblers. While the example of 94% might seem high, it is not. Gamblers hoping to make a consistent profit will be looking for an RTP of 98% and above.

Another highly effective way to increase your winning potential is to stick to games that are Provably Fair. Provably Fair Games are a recent addition to innovative gambling sites, courtesy of the Bitcoin revolution. They constitute a significant breakthrough for players. These games provide a result which can be independently verified for outcome randomness. Provably fair gaming is a sign that the site in question is serious about transparency and guarantees that you are getting a fair outcome on your bets.

Choosing the Right Game for You

There are many games to choose from online, some requiring more skill than luck, and others which rely largely on chance. Here’s an overview of the most popular games that are generally available at any given casino:

Slots

Casino’s biggest money-spinners are slots. Slots traditionally have unfavorable odds for players. If you do choose to play a slot game, however, make sure that the RTP is at least 97%. If the RTP is not available, then that is a warning sign to steer clear. When shopping around for a slot game, try to focus on the RTP instead of the theme. Casinos generally use flashy themes that may appeal to niche audiences to lure them into playing irrespective of their winning chances.

Poker

Poker is a game of skill, with many variations. Texas Hold-em is both the most popular format and simplest to learn. There are Poker Rooms, where the casino takes a “rake” off each hand and players compete against each other. New gamblers intent on playing poker should start on games with very small buy-ins to reduce loses. Some people swear by “playing for fun” rooms as a great way to learn the game. The problem with this method is that it rarely accurately mirrors games where real money is involved. Your chances of winning in Poker will be a combination of skill, luck and your opponent’s performance. If you don’t intend to study Poker fervently, Video Poker may be an option for you. Video poker is based on five-card draw and gives the player control over their choices, all of which could affect the outcome.

Blackjack

This is the simplest card game. The aim is to get 21 or closer to 21 than the dealer.  There’s a strategy chart in our Blackjack section which can be used to statistically make the correct choices. Bear in mind though that all this does is increase your odds of success marginally over an extended period. The game options available on Blackjack tables are either to play a computerized game or with a live dealer.

Roulette

The queen of the casino is a game that even the most inexperienced players will have a bit of knowledge about. Aptly named after the French word for “wheel”, Roulette is a hugely popular game which focuses around betting on numbers, colors (red or black) or combinations of both. A ball is placed on the wheel which spins and when the ball stops, the number and colour it is on determines the result. There are various strategies involved in bet selection which are covered in our Roulette section.

Craps

This is a popular dice game which is extremely exciting but also slightly intimidating to play for the first time. The player rolling the dice is called the shooter. Both the shooter and all other players in the game bet on the same dice rolls. It is worth noting that Craps has a very low house edge and appeals to many serious gamblers.

Dice

The most ancient form of gambling, with the player betting either high or low on the outcome of a dice roll. Players who are new to gambling will find that this game is a great gateway to Bitcoin gambling, as long as they find a reputable site, which we will help with.

Keno

This is a game which may remind you of a lottery and is incredibly popular. Players bet by choosing numbers (normally between 1 and 80). After players choose, twenty or so numbers are randomly drawn using a number generator. Each casino has its own pay-table which explains the pay-outs involving different sets of winning numbers.

To view other games, take a peek at our games list in which we explain each game, complete with hints and strategies.

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