Top 5 Advantages of Bitcoin Casinos vs. Traditional Casinos

[Peeps Place]

I think the main reason why Bitcoin quickly developed into a sort of a gambler's currency was that it offered a certain level of anonymity to the gambler. Please correct me if I'm wrong, but there was a time when KYC was never a thing in Bitcoin gambling. So Bitcoin became a sort of an underground gambling currency. Gambling in Bitcoin means privacy.

Later on, however, although Bitcoin and other cryptocurrencies remain to be heavily used in gambling, with stricter regulations, KYC becomes a requirement for gambling platforms. Although it is not mandatory every time a user signs up, it could be required anytime. For me, if KYC becomes compulsory upon sign up, I might as well gamble with fiat.

The days of Bitcoin casinos not implementing KYC have passed or are still ongoing, but only for gamblers who don't use big money, so they are free to gamble in crypto casinos. But big money gamblers should be prepared to do KYC if the casino asks. And anonymity is indeed one of the things that makes Bitcoin casinos grow faster, especially in the recent Covid time.

But even though KYC will eventually become mandatory, we can still play gambling using our personal wallets because there are casinos that provide this facility. We probably won't be asked to do KYC by connecting our personal wallet with our gambling account. But the advice that still works is don't use big money in gambling so that the casino doesn't investigate your account.

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

[1714141088]

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[Fatunad]

I think the main reason why Bitcoin quickly developed into a sort of a gambler's currency was that it offered a certain level of anonymity to the gambler. Please correct me if I'm wrong, but there was a time when KYC was never a thing in Bitcoin gambling. So Bitcoin became a sort of an underground gambling currency. Gambling in Bitcoin means privacy.

Later on, however, although Bitcoin and other cryptocurrencies remain to be heavily used in gambling, with stricter regulations, KYC becomes a requirement for gambling platforms. Although it is not mandatory every time a user signs up, it could be required anytime. For me, if KYC becomes compulsory upon sign up, I might as well gamble with fiat.

The days of Bitcoin casinos not implementing KYC have passed or are still ongoing, but only for gamblers who don't use big money, so they are free to gamble in crypto casinos. But big money gamblers should be prepared to do KYC if the casino asks. And anonymity is indeed one of the things that makes Bitcoin casinos grow faster, especially in the recent Covid time.

But even though KYC will eventually become mandatory, we can still play gambling using our personal wallets because there are casinos that provide this facility. We probably won't be asked to do KYC by connecting our personal wallet with our gambling account. But the advice that still works is don't use big money in gambling so that the casino doesn't investigate your account.

This limits the players a lot, because no player wants their data to remain in the custody of a platform that can be hacked, that can be violated and, apart from that, it can be an option so that they do not trust, this will always cause mistrust in anyone, for that reason The reason is that everyone is so reluctant to accept a KYC, I accept kyc in my casino which is duelbits, but because it is a reliable casino, which has a high reputation, but in new casinos I don't dare to leave my kyc because I don't know what Questions are what they are looking for, since they are regulators who demand I do not trust much, it is something that all newbies should take into account.

Just to observed out that if there's a new casino on the house or making up some new ANN thread into this forum, then people would be mainly talking or asking if ever it does have that KYC on which it is really that a
common question or approach for everyone who does really give out importance about their information or privacy on which it isnt really that shocking or new thing. KYC is highly frowned upon because in everything we do, we do really like on being anonymous specially on gambling. On the time that they would really proclaiming out that they are KYC-less then people would give out considerations but if they would be talking
about asking KYC on certain conditions then there might be some doubts on engagement but we know that most platforms now are really into this kind of set-up specially if you do win up big on where they would really be asking out some verification but i've knew some casinos which directly give out those winnings without questions asked.

This is why when it comes to choices then it would really be a personal choice on which one you would really be touching into. Lots of options we could choose and play on.So having
some research would be necessary.

[Darker45]

~snip~

The days of Bitcoin casinos not implementing KYC have passed or are still ongoing, but only for gamblers who don't use big money, so they are free to gamble in crypto casinos. But big money gamblers should be prepared to do KYC if the casino asks. And anonymity is indeed one of the things that makes Bitcoin casinos grow faster, especially in the recent Covid time.

But even though KYC will eventually become mandatory, we can still play gambling using our personal wallets because there are casinos that provide this facility. We probably won't be asked to do KYC by connecting our personal wallet with our gambling account. But the advice that still works is don't use big money in gambling so that the casino doesn't investigate your account.

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I should have thanked you for leading me to this old yet comprehensive and seemingly updated thread, but I guess it badly needs more update. Betnomi, Wolfbet, and others, for example, have KYC on their ToS, and not just on multiple accounts.

I guess Mahdirakib's Information of Crypto Casinos License and KYC requirements is much more detailed as far as KYC on crypto gambling sites is concerned. You might want to compare notes.

Anyway, when it comes to KYC these days, whether it is demanded from you or not upon sign up is not really the only issue. It is an issue that almost all casinos and betting platforms reserve the right to demand KYC from a user anytime. For somebody who's really disgusted with KYC, that is enough to discourage him/her.

[maydna]

This limits the players a lot, because no player wants their data to remain in the custody of a platform that can be hacked, that can be violated and, apart from that, it can be an option so that they do not trust, this will always cause mistrust in anyone, for that reason The reason is that everyone is so reluctant to accept a KYC, I accept kyc in my casino which is duelbits, but because it is a reliable casino, which has a high reputation, but in new casinos I don't dare to leave my kyc because I don't know what Questions are what they are looking for, since they are regulators who demand I do not trust much, it is something that all newbies should take into account.

Crypto gamblers are reluctant to do KYC on gambling sites because they think they only play gambling with small money and don't take too big risks. But apparently, crypto gamblers have big money, so they will be the targets for doing KYC. And as long as they can choose a trusted casino, they don't need to worry if the casino will get hacked because the casino will maintain good security. It's better for us always to be vigilant and careful if we want to do KYC so that we don't do it at random casinos.

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I saw on the list that there were a few that I used to gamble with, and the casinos didn't ask me to do KYC (hopefully not because I'm not a big money gambler).

I hope KYC remains not for all gamblers because those who gamble in crypto casinos are those with small and big money. And if the casino finds a gambler with big money and has an odd cash flow, the casino can ask them about it.

[Viscore]

The actual advantage is the convenience, you can play whenever you want and wherever you are because all you need is an internet connection. I don't agree with the safe and secure factor because you can't compare the blockchain advantage with a casino so the 51% attack will never apply to the casinos but the transactions are irreversible so it has it's pros and cons on its own.

Traditional casino can be more fun too but we need to plan for that and allocate time from our daily schedule and decent amount of money while in crypto casino you can gamble with minimum amount too and you won't feel any shame even with little money.

For me, the advantage of gambling anonymously is the best benefit that crypto casinos have compared to traditional casinos. In terms of games and processes, they are essentially the same. In fact, traditional casinos charge less transaction fees compared to crypto casinos when using Bitcoin. So, if most casinos do not allow anonymous gambling, I'm sure they won't become as popular as the kind of entertainment we can find in crypto casinos, which can also be found in traditional casinos.

[tusandii]

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I saw on the list that there were a few that I used to gamble with, and the casinos didn't ask me to do KYC (hopefully not because I'm not a big money gambler).

I hope KYC remains not for all gamblers because those who gamble in crypto casinos are those with small and big money. And if the casino finds a gambler with big money and has an odd cash flow, the casino can ask them about it.

I don't really believe in some casinos that state non KYC because when we withdraw a very large amount of winnings, they will definitely ask for KYC.
Sounds cruel but that's what really happened.
I prefer casinos that ask for KYC from the start because it can be opened as a whole so that in the future we don't need to be afraid of being asked for KYC for making large withdrawals.

Whether the gambler with big or small money is better to take a safer path by using a trusted or reputable casino.

[RILWAN]

The big question is that why should we be forced to do KYC since we are using cryptocurrency which surpose to be privacy oriented tool and if a casino clearly stated that their demand for kyc at will then i will outrightly avoid them in other to avoid stories when i make a big winning since I am not ready to give out details.

[Cling18]

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I saw on the list that there were a few that I used to gamble with, and the casinos didn't ask me to do KYC (hopefully not because I'm not a big money gambler).

I hope KYC remains not for all gamblers because those who gamble in crypto casinos are those with small and big money. And if the casino finds a gambler with big money and has an odd cash flow, the casino can ask them about it.

I don't really believe in some casinos that state non KYC because when we withdraw a very large amount of winnings, they will definitely ask for KYC.
Sounds cruel but that's what really happened.
I prefer casinos that ask for KYC from the start because it can be opened as a whole so that in the future we don't need to be afraid of being asked for KYC for making large withdrawals.

Whether the gambler with big or small money is better to take a safer path by using a trusted or reputable casino.

That's also the complaint of other crypto casino users. They are being deceived by a promotion that a certain casino would not ask for any KYC but surprisingly would ask users to comply with it upon important withdrawal transactions. It will be better if they will be honest about implementing it than deceiving users so they will attract more since lots of gamblers don't want KYCs.
To be honest, KYC is now mandatory in most casinos so it's hard to trust casinos that don't require it. I don't see a problem with complying since it will also benefit both parties' security but casinos must be honest about it. They don't need to promote that they are KYC-free if they will hold funds later on and will ask for KYC unexpectedly.

[Yaunfitda]

The big question is that why should we be forced to do KYC since we are using cryptocurrency which surpose to be privacy oriented tool and if a casino clearly stated that their demand for kyc at will then i will outrightly avoid them in other to avoid stories when i make a big winning since I am not ready to give out details.

Yes, I know it's a bit controversy for all of us, before we just need a bitcoin address and that's it, we can withdraw our money right away, whether it was big or small without any questions from crypto based platforms.

But now when the gaming industry goes big, I mean with billions worth of business and money flowing inside and outside of crypto bookies, it has been a target of regulators as well, licenses and other things including KYC was introduced now. And majority of us doesn't want to share our details and we are not that comfortable giving out. That's why it's very important to choose which casinos we are going to used now, at least with still no mandatory KYC.

[Popkon6]

Bitcoin casinos and gambling are legal and secure. And able to conduct fair gambling without the help of third party which is why Bitcoin gambling is most known and attracted everyone comes here to gamble. Because bitcoins are legal, gamblers from all over the world can attend these companies and all can mingle and gamble together in a corruption-free manner. So I would like to say that blockchain casinos may not always offer a lot of benefits. So Bitcoin casinos spend the most time and the facilities are always crowded.

[khaled0111]

If I'm not wrong, you are trying to compare games that use traditional RNG algorithms with games that use transactions/blocks hashes as source of entropy. Well, you might be right as the latter may give truly random numbers and we all know that the Bitcoin blockchain isn't easy to get manipulated.
The only and main problem here (excluding manipulation through 51% attacks) is that you will get a random number each 10 minutes! This may work for lotteries and likes but this is not what you want as source of entropy when you run an online casino with thousands of players. Simply, it's not practical.

[Peeps Place]

~snip~

The days of Bitcoin casinos not implementing KYC have passed or are still ongoing, but only for gamblers who don't use big money, so they are free to gamble in crypto casinos. But big money gamblers should be prepared to do KYC if the casino asks. And anonymity is indeed one of the things that makes Bitcoin casinos grow faster, especially in the recent Covid time.

But even though KYC will eventually become mandatory, we can still play gambling using our personal wallets because there are casinos that provide this facility. We probably won't be asked to do KYC by connecting our personal wallet with our gambling account. But the advice that still works is don't use big money in gambling so that the casino doesn't investigate your account.

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I should have thanked you for leading me to this old yet comprehensive and seemingly updated thread, but I guess it badly needs more update. Betnomi, Wolfbet, and others, for example, have KYC on their ToS, and not just on multiple accounts.

I guess Mahdirakib's Information of Crypto Casinos License and KYC requirements is much more detailed as far as KYC on crypto gambling sites is concerned. You might want to compare notes.

Anyway, when it comes to KYC these days, whether it is demanded from you or not upon sign up is not really the only issue. It is an issue that almost all casinos and betting platforms reserve the right to demand KYC from a user anytime. For somebody who's really disgusted with KYC, that is enough to discourage him/her.

On the terms of service, all the sportsbooks say that they may ask for KYC except Sportbet.one and Anonibet. In the case of Anonibet, they may confiscate money if they feel that you are playing from a restricted country. All sportsbooks take a different view on KYC. Mahdirakib's has a nice thread. The license and license operators are correct. He even takes screen shots which is nice visual. Some of the information in KYC details is incorrect. I'm not sure if he got the information from the terms of service but what is written down and what actually happens isn't always the same. That said, his thread is still a great resource.

[bitterguy28]

Why do you think that the random number generator in a bitcoin casino is fair? Cryptocurrency casinos work with the same slot providers as a regular casino

That is what exactly I was going to ask after reading the thread because there is no certain about the transparency and fairness that traditional casino can bring.

_______________________________________________________________________________ ____________________________________________________________

and also OP you mentioned in Title about top 5 advantage but you only typed 3? lazy indicating everything?  or there is something from that link
that you will compensate or funds generating?

and for me? the only advantage of Online casino is not consuming my time and effort as i can play everywhere anytime .

[Strongkored]

The big question is that why should we be forced to do KYC since we are using cryptocurrency which surpose to be privacy oriented tool and if a casino clearly stated that their demand for kyc at will then i will outrightly avoid them in other to avoid stories when i make a big winning since I am not ready to give out details.

That's always been a debate, why? Then why do we as players also like to ask about a casino license? isn't it that expecting a casino to have a license means that the casino must comply with the rules of the license where they are registered, and often one of the rules that must be obeyed is AML/KYC, so that finally the use of crypto in gambling is no longer completely anonymous because of KYC, and now that's a thing it is difficult to find gambling sites that do not require KYC, at first it is not an obligation but there will be many things that eventually players are required to do and can only be obeyed because money will be impossible to withdraw if KYC is not complied with.

[maydna]

I don't really believe in some casinos that state non KYC because when we withdraw a very large amount of winnings, they will definitely ask for KYC.
Sounds cruel but that's what really happened.
I prefer casinos that ask for KYC from the start because it can be opened as a whole so that in the future we don't need to be afraid of being asked for KYC for making large withdrawals.

Whether the gambler with big or small money is better to take a safer path by using a trusted or reputable casino.

If we don't use much money to gamble and the winning amount is not big, the casino will allow us to withdraw the money and not ask us to do KYC. But it's different if we use a lot of money and win because the casino needs to check our account before they continue that withdrawal process. We have to be aware of that and not worry about doing KYC because if we do it at a trusted casino, they can take care of the data we send. That's why we need to check the rules at the casino so we know how the casino implements KYC in its place.

[delfastTions]

I don't really believe in some casinos that state non KYC because when we withdraw a very large amount of winnings, they will definitely ask for KYC.
Sounds cruel but that's what really happened.
I prefer casinos that ask for KYC from the start because it can be opened as a whole so that in the future we don't need to be afraid of being asked for KYC for making large withdrawals.

Whether the gambler with big or small money is better to take a safer path by using a trusted or reputable casino.

If we don't use much money to gamble and the winning amount is not big, the casino will allow us to withdraw the money and not ask us to do KYC. But it's different if we use a lot of money and win because the casino needs to check our account before they continue that withdrawal process. We have to be aware of that and not worry about doing KYC because if we do it at a trusted casino, they can take care of the data we send. That's why we need to check the rules at the casino so we know how the casino implements KYC in its place.

It should be borne in mind that in different countries there are completely different standards of living and incomes of citizens, respectively.  If for a resident of Luxembourg $ 1000 is such an amount that he can earn in a week, then for a simple Indian, this is already a huge fortune.  And here the question arises about KYC when withdrawing winnings from the casino. 
I don’t know very well if there are such regional border values ​​for the amount of winnings available for withdrawal from your casino deposit to your account for different countries? 
Theoretically, this should not be because the casino is in any case registered in a certain jurisdiction and must comply only with the requirements of the local regulator.  And this is obviously a specific amount that should not change during cross-border payments.  But it is quite possible that the management of the casino in the case of really large or just a little more than usual wins decides on the need for KYC and disclosure of personal information on an individual basis.  After all, it is not always known for certain where an anonymous player is playing from, if he plays through a VPN and the casino allows such an opportunity to play.  In general, this question is still not clear to me?

[ultrloa]

I don't really believe in some casinos that state non KYC because when we withdraw a very large amount of winnings, they will definitely ask for KYC.
Sounds cruel but that's what really happened.
I prefer casinos that ask for KYC from the start because it can be opened as a whole so that in the future we don't need to be afraid of being asked for KYC for making large withdrawals.

Whether the gambler with big or small money is better to take a safer path by using a trusted or reputable casino.

If we don't use much money to gamble and the winning amount is not big, the casino will allow us to withdraw the money and not ask us to do KYC. But it's different if we use a lot of money and win because the casino needs to check our account before they continue that withdrawal process. We have to be aware of that and not worry about doing KYC because if we do it at a trusted casino, they can take care of the data we send. That's why we need to check the rules at the casino so we know how the casino implements KYC in its place.

Worries regarding on sending their personal details is valid but they need to be aware that this could happen especially if they are using huge money to bet on casino and knows that there are possibilities that they could hit big wins. This is part of security process so they should be prepared in this situation if they had been ask to  submit this requirements. We also make sure to play on reputable casino so that we can avoid any worst issues.

[Darker45]

~snip~

The days of Bitcoin casinos not implementing KYC have passed or are still ongoing, but only for gamblers who don't use big money, so they are free to gamble in crypto casinos. But big money gamblers should be prepared to do KYC if the casino asks. And anonymity is indeed one of the things that makes Bitcoin casinos grow faster, especially in the recent Covid time.

But even though KYC will eventually become mandatory, we can still play gambling using our personal wallets because there are casinos that provide this facility. We probably won't be asked to do KYC by connecting our personal wallet with our gambling account. But the advice that still works is don't use big money in gambling so that the casino doesn't investigate your account.

There are casinos that do not do KYC unless you use multiple accounts. They even allow large amounts.

You can find KYC ratings here: https://bitcointalk.org/index.php?topic=717790.0
A rating of 1 will only KYC if you use multiple accounts.

I should have thanked you for leading me to this old yet comprehensive and seemingly updated thread, but I guess it badly needs more update. Betnomi, Wolfbet, and others, for example, have KYC on their ToS, and not just on multiple accounts.

I guess Mahdirakib's Information of Crypto Casinos License and KYC requirements is much more detailed as far as KYC on crypto gambling sites is concerned. You might want to compare notes.

Anyway, when it comes to KYC these days, whether it is demanded from you or not upon sign up is not really the only issue. It is an issue that almost all casinos and betting platforms reserve the right to demand KYC from a user anytime. For somebody who's really disgusted with KYC, that is enough to discourage him/her.

On the terms of service, all the sportsbooks say that they may ask for KYC except Sportbet.one and Anonibet. In the case of Anonibet, they may confiscate money if they feel that you are playing from a restricted country. All sportsbooks take a different view on KYC. Mahdirakib's has a nice thread. The license and license operators are correct. He even takes screen shots which is nice visual. Some of the information in KYC details is incorrect. I'm not sure if he got the information from the terms of service but what is written down and what actually happens isn't always the same. That said, his thread is still a great resource.

I'm a little bit bothered that Anonibet may confiscate a user's money if they "feel" like he/she is playing from a restricted country. That doesn't sound right. Is that stated in their ToS?

Anyway, sportsbooks may indeed have different views on KYC, but it seems their own views don't matter much as they're all bound by AML/CFT policies which are basically the reason why such process is required.

I wonder which specific KYC details in Mahdirakib's thread are incorrect. You might want to specifically point them out for possible correction. Many might be using his/her thread as a reference.

[SirLancelot]

The actual advantage is the convenience, you can play whenever you want and wherever you are because all you need is an internet connection. I don't agree with the safe and secure factor because you can't compare the blockchain advantage with a casino so the 51% attack will never apply to the casinos but the transactions are irreversible so it has it's pros and cons on its own.

Traditional casino can be more fun too but we need to plan for that and allocate time from our daily schedule and decent amount of money while in crypto casino you can gamble with minimum amount too and you won't feel any shame even with little money.

For me, the advantage of gambling anonymously is the best benefit that crypto casinos have compared to traditional casinos. In terms of games and processes, they are essentially the same. In fact, traditional casinos charge less transaction fees compared to crypto casinos when using Bitcoin. So, if most casinos do not allow anonymous gambling, I'm sure they won't become as popular as the kind of entertainment we can find in crypto casinos, which can also be found in traditional casinos.

I've never used a traditional online crypto currency so I'm not sure how much fees they charge for transactions, but since I've used Bitcoin casinos, I know that Bitcoin transaction fees are not really that high, does a traditional online casino charge less than $1 or $3 max for a priority transaction that gets confirmed very quickly and you won't need to wait for hours for the deposit to arrive in your account?

I think cryptocurrency casinos are way more convenient than traditional casinos, you don't need to provide any credit or debit card information to make deposits, all you do is take the deposit address of the cryptocurrency you want to deposit and send the funds from your wallet and that's it.

[Plaguedeath]

If we don't use much money to gamble and the winning amount is not big, the casino will allow us to withdraw the money and not ask us to do KYC. But it's different if we use a lot of money and win because the casino needs to check our account before they continue that withdrawal process. We have to be aware of that and not worry about doing KYC because if we do it at a trusted casino, they can take care of the data we send. That's why we need to check the rules at the casino so we know how the casino implements KYC in its place.

Yeah as long as you're just an average gambler, you don't need to be worried about getting asked to submit KYC. But if you're lucky enough to win a big amount money, then the choice is depend on you, whether you don't need to submit KYC and let your winnings gone, or you submit and get your winnings.

After all gambling will make you lose, so it's just a tiny chance you can make money through gambling.