Choosing Bitcoin as your preferred funding option for online casinos

The fastest-growing form of gambling in the world is online gambling, with thousands of Internet gaming platforms offering wagering on sports, casino games, poker, bingo, lottery and other games. Backing that assertion, according to recent research, the global online gambling market size is estimated to reach USD 153 billion USD by 2030, after being valued at USD 57 billion in 2021.

Anticipated to drive market expansion is the prevalence of low-cost mobile applications for both online gaming and betting. In addition, an increase in global internet usage is likewise expected to boost the use of online gaming platforms around the world. Greater availability of high-speed internet, a rise in the popularity of online casinos, and the proliferation of smartphone use are other drivers of market growth.

With more online gaming platforms and the opening of newly regulated markets, such as the US and the Canadian province of Ontario, comes an increase in demand for safe and secure and cost-effective payment solutions, with online payment an accepted method of transaction.

Safe and Secure Deposits

If you ask a player what one of the most important features of an online casino is, they will likely tell you that being able to deposit quickly, easily and securely tops the list. Most of today’s casinos offer a multitude of deposit methods. Some are deposit only while at other online casinos you are able to withdraw whatever you win back to your chosen deposit method. With so many options, deciding which deposit method is right for you can be confusing.

Among the myriad of payment methods offered at online casinos, cryptocurrency is becoming accepted by more and more gambling sites. Of those offered, Bitcoin (BTC) is now a popular choice for players and among the best ways to finance real money gaming accounts or to withdraw funds. Launched in 2009, it is the world’s first successful decentralized cryptocurrency and payment system. And has grown to become one of the most traded digital currencies in the US, easily outpacing Ethereum (ETH) which is much newer having gone live in 2015.

Crypto Casinos

One of the reasons crypto casinos – online casinos whose main accepted payment methods are cryptocurrencies – are popping up more is that they usually offer the most popular coins, namely Bitcoin, and there are many features attached, including special promotions depending on the operator. Players looking for anonymity, no direct connection to a personal bank account, or handing over credit or debit card details, and faster payout processing times, are likely to choose Bitcoin poker sites, slots, live casino, blackjack, roulette, etc.

Keep in mind that in 2022, the Bitcoin poker industry is highly competitive and the number of sites to choose from is growing. As the competition gets stiffer, bitcoin poker sites are having to offer more benefits and higher guaranteed prize pools and bonuses in order to attract new players and retain the ones they have.

Bitcoin transactions are digital and highly encrypted, making them among the best ways to finance real money gaming accounts or to withdraw funds, regardless if you are playing on the Internet or via a mobile device. And while setting up a Bitcoin wallet can seem like an arduous task, the overall process can be explained in three easy steps (explained below) that will enable you to deposit into the online casino or sportsbook of your choice.

Accessibility from pretty much anywhere in the world and the speed at which you’re able to withdraw winnings, assuming you have any, are additional benefits of crypto gaming. The proceeds of your gambling prowess can be sent directly to your cryptocurrency wallet, which you’ll need to set up if you haven’t already done so.  With these peer-to-peer transactions, there is no tracking by banks or credit card companies, so there are no delays with payments. Additionally, there are no fees associated with depositing or withdrawing money.

Creating A Crypto Wallet

The process of setting up a crypto wallet is relatively painless. First, download the wallet you’ve selected to your computer or install the associated app on your mobile device. When the wallet is installed, click it open to launch it. Depending on the wallet, you may have to set up your wallet password upon launch. If so, create a unique password for the wallet and continue. Just these quick and easy steps and your wallet is ready to use.

There are a multitude of sites that will take you through the process and explain everything you need to know about a crypto wallets. If you’re in the US, coinbase is one such resource.

If current research is any indicator, online gambling won’t be slowing down anytime soon. If you’re considering dipping your toe into what has become a huge pond, be sure the online casino of your choice has a valid license and registration, is secure, has a variety of banking options, bonuses, reliable customer service and a good selection of games, among other important criteria.