One of the greatest innovations that cryptocurrencies enable in the crypto gambling industry is the ability to prove that the outcome of any specific bet is fair. Provably fair allows users to independently verify the results of a bet to prove that it was fair. Cryptocurrency transactions are also far cheaper to process and are hassle-free compared to credit cards, bank wires, money transfers, and even online eWallets, that are the most popular form of payment in regulated iGaming markets. One could make a case that the explosion of cryptocurrencies saved offshore sports betting. Cryptocurrency has affected all kinds of industries, including online gambling. Using cryptocurrencies to gamble online has become increasingly popular, especially in the US. You can bet with Bitcoin, play casino games with Ethereum, and more. Cryptocurrency gambling is experiencing widespread adoption and more users are wishing to use it for their online gaming activities. Some sites offer Bitcoin Gambling while others already offer deposits and withdrawals in various cryptocurrencies and this is something that will continue into 2021. The Role of Cryptocurrency in the Online Gambling Industry. Many gamblers are keen on using different types of cryptocurrencies when it comes to online sports betting and placing wagers on casino games. This’s because cryptocurrencies play a significant role in terms of deposits and withdrawals.

Online casino operators are always looking to improve their services and offer more to their customers. One of the areas they’re constantly looking to improve is easier, faster, and more secure payment methods, which is why many casinos have begun looking at (or in some cases even offering) cryptocurrency payment options. But what is cryptocurrency? And what benefits does it offer to online casinos and their clientèle?

What are cryptocurrencies?

To understand what a cryptocurrency is, we first need to explore a technology that underpins it: the blockchain.

The blockchain is primarily used as a digital system of record-keeping, and is designed so that it’s very difficult to modify a piece of existing data. This is because, unlike traditional records that are stored in one place, blockchain records all changes, securing them using cryptographic techniques, and then duplicates and distributes the data across peer-to-peer networks. This means criminals can’t just change one entry if they want to manipulate the records: multiple copies of the records exist at any time, and data is compared between them to keep them accurate. This “distributed ledger” system makes blockchain an excellent way to accurately track transactions.

What do cryptocurrencies have to do with the blockchain?

Cryptocurrencies are digital or virtual currencies that use blockchain technology. Due to the cryptographic techniques used to secure the data in the blockchain, and the fact there are multiple records, blockchain allows for better control of additional currency, as well as identifying who a single unit of currency belongs to.

Cryptocurrency can be purchased from cryptocurrency exchanges, or “mined”. Cryptocurrency “mining” refers to the process of validating transactions on the blockchain, which “miners” receive cryptocurrency for doing. Basically, a miner helps maintain the blockchain network and the information on it, and gets cryptocurrency as payment for doing so.

Crypto Gambling

There are many different cryptocurrencies which miners can receive. These include:

• Bitcoin (BTC)
• Ether (ETH)
• Ripple (XRP)
• Tether (USDT)
• Litecoin (LTC)

The benefits of cryptocurrencies for online casinos

We’ve already briefly touched on some of the benefits cryptocurrency offers; here’s a complete list of the reasons why many online casinos are interested in cryptocurrency:

• Increased security – If you’re a casino operator, cryptocurrency payments offer you much less risk because once payments are made, they cannot be undone. Credit cards, on the other hand, allow their owner to trigger a chargeback if they feel there was a problem or mistake with the transaction. As we mentioned earlier, blockchain also has fraud prevention built into it from the ground up, making cryptocurrencies a much safer option for payments.
  
• Faster payments – Where regular payment systems have a variety of checks and balances to ensure a payment is legitimate, and that the funds are correctly transferred between two parties, cryptocurrency payments are almost instantaneous owing to their use of peer-to-peer systems that automatically verify payments within their network.
  
• Easier international payments – Unlike regular currencies, which usually require a middleman to assist with international transfers, cryptocurrencies are truly global payment systems. If the company or business that you’re trading with accepts the currency, you can send cryptocurrency from one location to another without having to worry about international currency checks (except if your country has strict laws around cryptocurrency usage).
  
• No bank transaction fees – Financial institutions and organisations all have systems and employees which need money to maintain, which is why users and merchants are charged for making use of their services. Using cryptocurrencies takes banks and other middlemen out of the equation, eliminating the costs associated with these services.
  
• Greater anonymity – While a cryptocurrency wallet may be linked with specific transactions, it is generally not linked with a specific person. This means if you want to be discreet about your spending, you can be.
  
• No bank accounts required – As we’ve already touched on, all your cryptocurrency is stored in a virtual cryptocurrency wallet, not a bank account. This means you don’t have to worry about paying for a bank account.
  
• Some casinos do not require player accounts at all – Some casinos will accept cryptocurrency funds directly, eliminating the need for the player to create an account and verify their identity. Even more discreet!

The past relationship between cryptocurrencies and online casinos – it’s complicated

While you might think this new payment method would be quickly adopted by casinos around the world, that’s not been the case. The adoption of cryptocurrencies is affected by a number of factors, including support by online casino developers, local government regulations, and the volatility of the cryptocurrencies themselves.

In the early days of blockchain and cryptocurrency, governments were still playing catch-up but so were online casinoplatforms, which were unsure about the future of cryptocurrencies, and whether they should commit resources to adding cryptocurrency payment options.

Some individuals and organizations decided to take a chance and launched dedicated cryptocurrency casinos or casinos that would accept cryptocurrency payments, with the first gambling site accepting Bitcoin payments being an online poker site back in 2011.

Unfortunately for some players, these casinos sometimes operated in regions that didn’t have laws regarding cryptocurrency, or regarding cryptocurrency and gambling, meaning they operated in a grey area. Meanwhile, some regions have either put into effect strict cryptocurrency legislation or, like China, banned its use entirely, making operation of online casinos that accept cryptocurrency difficult if not outright illegal outside of certain countries. Thankfully for some operators, other countries – including the UK – took steps to offer licenses to cryptocurrency casinos, as long as they complied with gambling regulations.

The volatility of cryptocurrency is something online casinos have struggled to come to terms with as well. While all fiat (government-issued) currencies shift in value over time, they are still considered relatively stable compared to cryptocurrencies, which can see massive changes in value within short periods of time. This shifting value makes it difficult for casino operators to run, since a single unit of cryptocurrency might be worth $1 today, $10 two weeks later, and 50c two weeks after that.

The future of cryptocurrency and online gambling

Some may say cryptocurrency is the future of online gambling, while others believe it has no place in the future of online casinos. For most of us, this only makes the future of cryptocurrency and online gambling one thing: uncertain. Some governments have taken steps to completely ban the use of absolutely any cryptocurrency, some have begun to legalize it, while others have been slow to even acknowledge its existence.

At the end of the day, the only thing we know for sure is that cryptocurrency’s future in online gambling is a roll of the dice.

A variety of payment options when you play at BetMGM

The good news is you don’t have to worry about the future of casino payments at BetMGM. We offer a number of legal payment options including prepaid cards, debit and credit cards, e-wallets, and bank transfers. Once you’ve made your deposit with your preferred payment method, you can enjoy a wide variety of old andnew casino games. If you prefer casino games that are easy to pick up and play, why not try our exciting online slots? Like to play live at an online casino?Try out our live-dealer online casino games. Prefer to test your skills out in a game of cards? Play poker online. No matter what you like to play, you can trust BetMGM to have some of the best casino odds online. To join in the action and excitement, register with us today.

The rapid rise of cryptocurrencies such as Bitcoin and other digital coins has been nothing short of astonishing. Cryptocurrency has affected all kinds of industries, including online gambling.

Using cryptocurrencies to gamble online has become increasingly popular, especially in the US. You can bet with Bitcoin, play casino games with Ethereum, and more.We’re going to guide you through gambling online with cryptocurrency, starting with our list of the best crypto gambling sites for 2021.

Our top-rated gambling sites accepting cryptocurrency are safe to use, and they offer excellent value and quality products.

Most of them work with more than just Bitcoin, so you can use various cryptos for real money gambling.

They all rate highly in a number of key areas, such as the bonuses and promotions they offer, mobile compatibility, and customer support.

We explain more about the cryptocurrency gambling websites we recommend further down this page, and provide plenty more information and advice.

Here’s what you’ll find in this guide to online gambling with cryptocurrencies.

One of the most popular ways to gamble online with cryptocurrency is to bet on sports.

The following online sportsbooks are the top crypto betting sites we recommend.

These sports gambling sites not only accept cryptocurrency, they offer a host of other benefits, too.

Here are just a few of them.

• Large bonuses for betting with crypto online
• Fast payments for cryptocurrency withdrawals
• Excellent range of sports and betting options
• Competitive odds and lines
• Mobile betting via crypto gambling apps

It’s not just sports you can bet on either. You’ll find all kinds of other betting markets at these cryptocurrency online gambling sites.

You can wager real money on political events, esports, reality TV shows, and much more. You’ll never be short of something to bet on, whatever the time of year.

If you live in the USA, online cryptocurrency casinos are THE best way play casino games for real money. You’ll get bigger and better bonuses than with any other option, and any winnings will be paid out fast.

Here are the best crypto gambling sites for playing casino games.

All of these cryptocurrency casinos online have a strong variety of games. You’ll be able to play slots, blackjack, roulette, video poker, and many more.

In addition to the great welcome bonuses available, these sites all offer other promotions for casino gambling online with cryptocurrency.

You’ll find reload bonuses, wagering leaderboards, and other promos that can help to boost your profits.

Mobile casino apps are also available at these sites, for those of you that like to play on your phone or tablet.

Let’s take a more detailed at how online crypto gambling works, starting with the different options at your disposal.

Most people have heard about Bitcoin by now, and it remains the most popular cryptocurrency by quite some distance. All of the top crypto gambling websites accept BTC.

It’s not your only option, though. Several other cryptocurrencies can be used for real money online gambling.

Here’s what you need to know about Bitcoin and its alternatives.

As not every top crypto gambling site accepts all the different coins, we’ve compiled rankings of the best sites for each of the most popular cryptocurrencies.

Check these out if you want to gamble online with a specific crypto.

• Bitcoin Gambling Sites – Our picks for the best gambling sites accepting Bitcoin.
• Bitcoin Cash Gambling Sites – The top Bitcoin Cash gambling options online.
• Ethereum Gambling Sites – The best sites for gambling with Ethereum.
• Litecoin Gambling Sites – Trusted gambling sites accepting Litecoin.

The whole process of gambling online with cryptocurrencies is fairly simple.

Let’s take a look at all the steps you’ll have to go through.

As you can see, gambling with crypto online is not too complicated and you should be able to get used to it quite fast.

If you do have any issues, all of the top sites and apps for cryptocurrency gambling have customer support staff available. They’re there to help you if you need it.

Now that you know HOW to gamble online with cryptocurrency, the question is SHOULD you?

US gamblers should definitely consider using cryptos for their online betting and gaming. It’s just so much better than the other payment methods using traditional currency.

But it’s not only for those living in the USA. There are some benefits to gambling online with cryptocurrencies that apply wherever you live.

To help you decide if crypto gambling is for you, let’s take a look at the pros and cons.

• Fast payments. Using crypto is one of the fastest ways to withdraw your online gambling profits.
• Low fees. You can enjoy low or no fees at all if you decide to deposit using BTC, ETH, LTC, XRP, or another popular cryptocurrency.
• Flexible limits. The highest and the lowest accepted deposits by most gambling sites and apps are via crypto. You can usually start from the $10-20 and go all the way to thousands of dollars.
• Extra promotions. The costs of operating with crypto are low, so many gambling websites that accept cryptocurrencies encourage their customers to use them by offering extra bonuses and promotions.
• Easy to move your bankroll. Using multiple apps and gambling sites with crypto is much easier because of the fast payouts and the low fees.

The upsides of using Bitcoin and other cryptos to gamble on the internet are clear.

It doesn’t matter what form of gambling you enjoy, or how much you gamble with, there’s a strong case for cryptocurrencies being your best option.

If you gamble for high stakes, it’s almost a no-brainer.

Naturally, there are downsides as well. Before you invest your money in cryptocurrencies and start gambling with them, make sure you’re aware of the drawbacks.

Here are the main ones.

• Volatile price. The price of most cryptocurrencies is jumping around all the time and that affects the value of your coins.
• Managing cryptos can be complicated. Bitcoin and other cryptos have gone a long way in this regard, but they are still not as easy to manage as the traditional currency.
• Risk of hackers. The crypto world is still full of hackers and people who are looking to steal your money. While most wallets and crypto gambling websites have solid measures, there is a risk.

While we feel that that the advantages definitely outweigh the disadvantages, you have to consider the downsides of internet gambling with crypto before getting started.

If you feel comfortable with the potential issues that come from crypto gambling online, remember that you don’t have to dive in with thousands of dollars.

You can start using online gambling sites accepting cryptocurrencies using relatively small amounts of cash.

There are two main types of online gambling sites that work with cryptocurrencies.

• Crypto-only gambling platforms that don’t accept other currencies.
• Traditional gambling websites that have started accepting BTC and other coins at some point.

Both options have their merits, and you’re not limited to one or the other.

We’ll compare the two for you, though, to help you decide which might be better for you.

First in line are the gambling sites that accept cryptocurrencies and nothing else. You can ONLY make deposits and withdrawals using a digital asset like Bitcoin.

This seems restrictive, but actually leads to certain positives.

These online crypto gambling operators usually don’t ask for verification and some won’t even ask for your name.

You can stay private and enjoy poker, cryptocurrency betting, and casino games from many countries that are usually restrictive when it comes to online gambling.

There’s another benefit here, as some of the games have another layer of protection when it comes to fair play.

The so-called “provably fair” approach uses the power of the different blockchains to make sure that the outcomes are truly random and can’t be hacked or manipulated in any way.

On the downside, the quality of crypto-only gambling sites is usually a little lower than the traditional sites.

The number of games at crypto online casinos is limited, there’s not much traffic on the poker tables, and the overall experience is slightly worse.

If you don’t want to try the dedicated sites for crypto gambling on the web, you can always choose more reputable sites and apps that have been around for a while and accept Bitcoin and other cryptocurrencies.

They offer the best of both worlds in many ways, so it’s a sensible decision.

Here are some of our suggestions if that’s your preferred choice.

As you can see, the top online gambling sites accepting cryptocurrency have been around for years.

Best Cryptocurrency To Invest In

The betting sites and online casinos listed here are some of the very best around, period. We recommend them whether you want to gamble with cryptocurrency OR traditional currency.

Before you start using gambling websites accepting crypto, we have some tips you should read.

These will help improve your cryptocurrency online gambling experience, and even increase your chances of winning money.

Btc Gambling

There are so many cryptocurrencies out there nowadays that can be confusing.

The best cryptocurrency gambling sites are adding more and more of them to their platforms, but we recommend sticking to the mainstream options like Bitcoin, Ethereum, and Bitcoin Cash.

Here are the main reasons why they are the best choice for gambling online with crypto.

• Higher volumes – You can exchange your crypto for fiat faster.
• More wallets work with them – Pretty much every crypto wallet works with the likes of Bitcoin and Ethereum, so you can find a suitable one with ease.
• Lower chance of extension – We’ve seen some cryptocurrencies go to zero. The danger is much lower if you pick one that has been around for longer.
• Better security – The mainstream wallets have proven that they are safe if you follow basic guidelines.
• Accepted everywhere – The more popular a cryptocurrency is, the more gambling sites on the internet will accept.

You can always try your luck with smaller coins, but we really don’t advise it.

One of the biggest problems with online crypto gambling is that the price of most currencies is very volatile. You might withdraw some cash and lose a lot of value if the rate is currently down.

There’s a relatively simple way to mitigate the risks by keeping most of your bankroll outside of the crypto online gambling sites and in a stable coin.

Most wallets offer some sort of solution that will allow you to maintain the value of your money.

We already mentioned how one of the downsides of gambling with crypto on the internet is the large number of threats.

You should stay extra careful and follow all best practices for protecting your money, such as the following.

Cryptocurrency Gambling Sites

• Use secure passwords
• Don’t share your credentials with anyone
• Don’t log in from unknown networks
• Don’t open shady links or download suspicious files
• Use two-factor authentication whenever possible
• Keep your mobile device logged out of cryptocurrency gambling apps when you’re not using them.

Simply put, you should use your common sense and take advantage of all security measures at your disposal when you gamble with crypto online.

Don’t put yourself at any more risk than is necessary.

Most crypto online gambling sites love it when their customers use Bitcoin, Ethereum, and similar options. This is because the transaction costs these sites incur are lower.

As such, they often actively promote cryptocurrencies by adding cashback, bonuses, and other promos. Whether you’re sports betting with cryptocurrency or playing casino games with crypto, there’ll be some appealing offers.

You should regularly check the promotions page of the crypto gambling websites you use and your email, so you don’t miss out on good opportunities for extra value.

You now know all about online cryptocurrency gambling. We hope you found our guide useful. If you’re ready to get started, make sure you join one our top-rated gambling sites accepting cryptocurrencies.

Some of you might still have questions about digital currency in general. That’s normal if you have just discovered the world of Bitcoin, Ethereum, and other cryptocurrencies.

The following pages provide more information, so go ahead and check them out.