Most of you out there must know pretty much about online gambling. But when it comes to bitcoin gambling, most of us get addled and unclear. However things are pretty simple as there isn’t much contrast between the two. As things around us are getting better day by day, the world of gambling has become fun, fast and profitable with the inclusion of bitcoins. Shifting from the usual credit card payments to bitcoins may be difficult at the inception, but people get adapted to it as it’s more secure and has the ability to escalate your winnings.

1.What is Gambling with Bitcoins?

As mentioned above, there isn’t much disparity between gambling and bitcoin gambling except in the payment method and the time it takes for the processing of payments. Normal gambling is the process of playing games of chance for money or government issued currency. However, Bitcoin is a novel and advanced digital currency that permits peer to peer payments that takes place on the internet. This is highly beneficial to entry level gamblers who can make deposits and withdrawals at a very small fee when compared to the high charges required for credit card payments. In addition to this, the privacy and security of the user is highly confidential and the speed at which payments are processed is really fast. This is the reason why players prefer to stick with sites that are bitcoin based.

2.Gambling with Bitcoins VS Fiat Gambling:

Since Bitcoin has been creating new stunts in the field of wagering, does it really beat Fiat Gambling?

1.Rate and speed of Transactions:The digital currency offered by bitcoins has new possibilities and offershassle free experience for users when comparing to real currencies. The deposits and cash outs of most bitcoin websites take only few minutes or hours whereas in fiat casinos, they may take days or weeks.

2.Usability:When it comes to usability, Bitcoin truly beats fiat money as credit payments needs an account to be funded in order to begin gambling. This may cost the user time and high fees. However, using Bitcoin saves money and time and once the Bitcoin wallet have enough funds for wagering, players can start betting with ease.

3.Privacy: Bitcoinis always a better option as it keeps the players identity and personal information intact and only needs a bitcoin wallet address to begin fund transfers. It’s as simple as that. On the other hand, fiat money requires the user to submit documents to establish the user’s identity.

III. Is gambling Anonymous?

Gambling with bitcoins can be done completely anonymous and the user need not share any personal information. An anonymous bitcoin based gambling site doesn’t require any user registration. As users get into these sites, an account is automatically made and the user can start depositing and later do withdrawals of Bitcoins. All the information is kept as a browser cookie which allows the user to visit the site anytime without the need to login and can see their balance as well as account history. The user also needs to keep in mind that, if the browser cookies are cleared, everything is lost including the funds. Hence, utmost care needs to be taken to avoid such losses. With this said, there are also other bitcoin sites which require user to do quick registration not more than an E-mail and password.

1.Lower House edge on Games – Guide:

Basically, a house edge is the edge which a casino site has over its users. For instance, if a casino has a house edge of 1 percentage, it will on an average win one bitcoin per 100 bitcoins played with, from the users. Since users, constantly win and lose, it’s not easy to calculate the house edge and is normally calculated in long periods. So is lower or higher house edge better? The higher house edge offers players a smaller chance of winning bitcoins with the bitcoins that is being used for playing. On the other hand, the lower house edge offers more chances of winning and games become fairer for all users. Hence, in the long run, most users will have a good chance of winning bitcoins, when the house edge is really low.