5 Things to Avoid When Playing at a Bitcoin Casino

Bitcoin casinos provide a novel way of gambling, since they emerged at the intersection of two major innovations: online casinos and cryptocurrencies. Like anything new, Bitcoin casinos come with unique risks you should be aware of before you start playing.


1. Don’t Trust. Verify

«Don’t Trust. Verify» is the main idea behind Bitcoin. It means one shouldn’t ever blindly trust third parties and should verify the authenticity of any important information whenever possible. The same applies to online gambling.

As time goes, hundreds of new casinos emerge on the Internet. Some of them are trustworthy and were established with the aim to provide the best gambling experience. The others are not so honest and may be owned by scammers who will delay and refuse payouts on various pretexts if you manage to hit some juicy win.

The casino’s credibility may not be clear when browsing its website. You need to spend some time and dig deeper to understand if it is a good place to play at or not. Check gambling forums and reviews to see if the casino has any unsolved disputes and what players generally think about it. If many users report problems, it would be better to skip such an offering and invest your money somewhere else.

A casino may also hesitate and hold your money without any serious reason. It’s better to avoid such sites as well. They make you wait in a bid to force you to play again until you lose it all so, in the end, they don’t have to pay. This is a dishonest but extremely effective practice, and most people do lose their money this way.


2. Don’t Open More Than 1 Account

We have already covered casinos that refuse to pay for no good reason. Unfortunately, there are situations when a casino has every right to cancel a withdrawal due to the breach of rules by the player. One of such rules says that a player can’t open more than 1 account.

It’s understandable that you may forget a password or make a typo in personal data when creating the first account, but under no circumstances you should open a second one. If anything, you should contact customer support and ask them to help with your problem. Otherwise, the anti-fraud system will detect all your accounts. At best, you will be asked to explain why you disregard the rules. However, many casinos will block your accounts without asking any questions or giving you a chance to explain yourself.



3. Don’t Use Fake Personal Data

You may imagine that Bitcoin is all about anonymity and shady Darknet stuff. However, being a financial agent, a casino has to comply with anti-money laundering laws, so you may be asked to verify your account with a government-issued ID and a proof of address.

Whether it’s intentional or not, you should never use fake or incorrect personal data when registering at an online casino. Nobody will ever ask you to verify a Bitcoin address, but as for the name, surname, birthdate, postal address, etc. be prepared to provide all necessary confirmations. This is another legitimate reason to block your account and seize all winnings.


4. Don’t Neglect Crypto Address Checks

A crypto address is a string of seemingly random numbers and letters. They may not be easy to comprehend, and you may be tempted to skip any additional checks which you would carry out when, for example, entering your bank account number. There is at least one serious reason not to skip these checks.

Your computer may be infected with a special kind of malware that detects and replaces any crypto addresses with the hacker’s one. You may not be aware of this malware, and your computer may work perfectly until it comes time to send crypto. In fact, you don’t even need to check all letters and numbers in the address, as they are not so random as they seem. Just compare several segments of the string to the original address to make sure that your transfer will reach its destination. Do it with every deposit and withdrawal, and one day it will probably save you time and money.


5. Don’t Bet More than You Are Willing to Lose

Gambling may be tricky. One day you win, another day you lose. After all, it’s just a game, no matter whether it involves Bitcoins or traditional money.

Probably, you have seen some high-rollers betting thousands per round and winning staggering amounts. You may be willing to replicate their success but be mindful of bankroll management. One person may bet $100 per spin, but if it is your whole deposit, it may be unwise to exceed, for example, a bet of $1. Therefore, you can make your game more lasting and, arguably, more enjoyable.

Probably, the most serious mistake a casino player can make is to play without a proper budget. Casinos are all about luck and can’t be viewed as a reliable way to make money. Never invest in gambling more than you originally planned and don’t chase your losses. If you lost, just stop playing and go do something else. If unsure, use the self-exclusion option which can be found in the settings or activated by a support agent upon request.