Betting With Bitcoins at Online Casinos

12 August 2013 – By Huseyin Yilmaz

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Bitcoin is a very popular topic for discussion these days and the impact over the online gambling market is very high. Introduced in 2009, Bitcoins is a decentralized digital currency, which has value because people believe they do. Bitcoins are not issued from a bank or backed by anything and the important thing to know is that you can easily acquire them and sell them. The impact of this currency on the online gambling industry is very important as American gamblers do not have a wide range of deposit methods to choose from right now. Poker players, sports bettors and casino gamblers have the possibility not only to use Bitcoin as a deposit option but make an investment at the same time. In 2012, 100 Bitcoins were valued at roughly $650 and in present day they would be worth $12,140. But earlier this year, the value of this currency went up to 266 for 1 Bitcoin.

Online casino fans that would consider using this digital currency to deposit at an online poker room or casino will have two ways to win or lose. Despite the fact their value decreased from earlier this year, according to a specialized site in using Bitcoins for gambling, there are currently four poker sites that accept Bitcoin deposits. Poker is one of the most popular games ever created and attracts millions of customers all over the world, and for this reason online poker sites have introduced this deposit method. Most of these poker sites that accept Bitcoin deposits accept American players and also offer casino gambling and sports betting.

Players must know they can use Bitcoins at poker sites in small denominations or the online casino will convert them into another currency and convert them back when the gambler is ready to withdraw its winnings. Despite the fact using Bitcoin at online gambling sites is easy, cheap, secure and reliable, there are two cons to using Bitcoin to gamble online. The first one is that Bitcoins can gain or lose value and the second refers to a lack of gambling options. Big USA poker sites do not accept Bitcoins currently and no one know when this is going to change.

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