Bitcoin-friendly poker sites and gambling with Bitcoin in general is becoming a more and more popular thing to do online. Poker players are sick of seeing their buy-in fees and rakes go to the house. They want to keep more of their crypto poker chips in their pocket, as well they should.
That said, there is a problem that plagues Bitcoin-friendly poker sites just like it plagues all cryptocurrency gambling sites. Everybody knows they want to save their value and not have to give it to a dealer or central authority, but how does anybody know which Bitcoin sites to trust?
Given that the cryptocurrency world is the closest thing there is to an online version of the Wild West, somebody had to take the fall for testing out different trading platforms and betting sites to figure out which ones were legitimate and which ones were not.
As famous Bitcoin evangelist Andreas Antonopoulos once stated when it comes to adoption, “the first one through the door gets shot”. Luckily for Bitcoin-loving bettors, there’s no need to risk getting shot. Not only because that cannot to happen behind a computer, but because when it comes to trustworthy Bitcoin betting sites, the contenders have been separated from the pretenders.
Bovada.lv is an online betting site is licensed under the Kahnawake Gaming Commission, the same gaming commission that oversees SportsInteraction.com, one of the most well-respected online sportsbooks operating out of Québec, Canada. It also offers support for Bitcoin and several other cryptocurrencies. While European gamblers are banned from using the website, Americans can easily register and get in on the gaming action.
Nitrogen Sports has been around long enough to be a trustworthy website. The site runs out of Costa Rica and offers sports betting, card games and table games. Nitrogen offers provably fair casino games, meaning that all players on the website can take a look at every single outcome of every single table game to ensure that the outcomes are completely random. Most sites including Nitrogen, that offer provably fair gaming will also show users how much people are wagering and how much they’re winning or losing on any given event. This is true transparency.
But the two best parts of Nitrogen have to do with its sportsbook. Nitrogen routinely offers better odds on sports bets than most traditional fiat sportsbooks, and most of the time, they will beat the top Bitcoin-based sportsbooks when it comes to betting odds. On top of all that, Nitrogen offers some of the coolest betting promotions bettors have ever heard of. Many of their promotions pull together the wagers of a large number of bettors and let them all compete to win each other’s money.
Consider House-less Blockchain Casinos
We’ve talked about house-less blockchain casinos and gambling platforms before. They are where the real winnings are at. Think about the word house-less for a moment. Now imagine that you can sit down to play poker online and play without having to pay an extra entry fee to the table for your tournament buy-in. No need to pay a rake sitting down at a cash table either.
Most house-less casinos are built on altcoin platforms and not the Bitcoin network. This is because altcoin networks like Tron, Ethereum and EOS allow developers to raise money for their projects while building them directly on their networks. With the capability of fundraising on each platform, the ability to build a casino right on the blockchain that’s provably fair, and the ability to earn a profit based on taking a very small cut of transaction fees (not a rake, juice or entry fee), this is probably the best way to earn crypto playing poker. Finding sites built on the Ethereum, EOS, Tron or other networks is as simple as googling them. Since the blockchain takes care of accepting wagers and settling them, there’s no central authority robbing players.
There’s one more option that might become more popular in 2020. Predictive markets.
Predictive Markets Enable Man vs. Man
Predictive markets allow people on both sides of a wager to set their own terms and conditions while the blockchain handles the wagering and settles the bet to ensure the winner gets paid. At the moment, predictive markets are being created by users mostly based around specific events, like who will in tonight’s NBA game between the Boston Celtics and Houston Rockets or who will win the 2020 .U.S. Presidential election. The future is bright for predictive markets though, because there is no reason a variation of this concept can’t help one poker player play against another, with no intermediary present.
While most Bitcoin gamblers may not quite have a handle on predictive markets just yet, the good news is there are plenty of other options out there.