5 Essential Tips for Bitcoin Betting

This is sponsored content. All opinions and views are of the advertiser and does not reflect the same of WTKR.

Bitcoin traders would be pleased to hear that some of the best real money online casinos now accept Bitcoin payment as a method which can be used to play various games. These so-called “Bitcoin casinos” have become extremely popular, as it is by far the most efficient way to gamble online with other numerous benefits adding to their appeal.

If you want to gamble at a Bitcoin casino there are a few tips that you should keep in mind — we take you through five essential tips for Bitcoin gambling, so keep reading below to find out more.

1) Stick To Trusted and Verified Bitcoin Casino Betting Sites

As Bitcoin gambling is still in its early stages of development there are only a select number of casinos that are offering legit crypto gambling. It is therefore essential to distinguish between a trusted crypto casino and one which may be a scam.

So, how do you distinguish between a legit bitcoin casino and a scam? Your starting point will always be to look at whether the casino is licensed or not. This will be a good indicator of whether the casino is legit or not. As payments in cryptocurrency are decentralized and anonymously, casinos accepting payments in cryptocurrency are subject to even greater Anti Money Laundering (AML) and Know Your Client (KYC) procedures. If you are required to go through these checks it is a good sign which points to the casino being fully legally compliant.

Lastly, before signing up and transferring your Bitcoin, it’s wise to search for the best online casinos for real money in the US to get a better picture of what the casino is offering and whether it is the right one for you.

2) Keep An Eye on The Price of Bitcoin

Bitcoin, while not as volatile as other cryptocurrencies, is known to be subject to price fluctuations. This is what makes Bitcoin such an attractive investment opportunity, but when it comes to making payments, it is not one of its strong attributes.

When making withdrawals you should keep an eye on the Bitcoin price to avoid losses. If you time it just right, you may increase your overall profit due to an increase in the price of Bitcoin.

It goes without saying that the best time to bet using Bitcoin is when the price is down, and to make your withdrawals when there is a price increase.

3) Choose Games with High Odds

Betting using Bitcoin requires more than just a betting strategy. You will need to combine betting strategy with bankroll management if you want to get the most out of Bitcoin gambling.

You should play games with a lower house edge at an online casino for real money as this will increase your chances of winning. Games such as roulette, blackjack and poker offer you the best chance to make a profit.

Sports betting is also a great option for Bitcoin gambling, as it is easier to predict than, for example, online slots. Choosing the right games, spreading your risk and using betting strategies (discussed in more detail below) is your best bet when it comes to Bitcoin gambling.

4) Use Betting Strategies

The use of betting strategies is always recommended when gambling, whether it be online or at land-based casinos. To maximise your chances of reaping the full rewards that Bitcoin gambling offers, we recommend using one of the tried and tested betting strategies.

These betting strategies will depend on which game you are playing. Whether it be blackjack, poker or roulette there are several betting strategies for you to choose from to increase your chances of winning.

   5) Keep Your Bitcoin Wallet Keys Safe

Using Bitcoin is one of the safest ways to make payments online. Processing times are fast, and the fees are relatively low.

However, when using it as a payment method the most important security tip is to always keep your Bitcoin wallet key safe. If the keys to your Bitcoin wallet fall into the wrong hands you may end up losing all your Bitcoin.

Things to avoid to keep your Bitcoin safe:

• Avoid using public wifi
• Never respond to unsolicited emails
• Only bet at Bitcoin casinos that have the latest security software.