If you’re already deep into the world of Bitcoin gambling then you know that there are special considerations to be made when considering which Bitcoin gambling sites are legitimate and which are not. Bitcoin and other cryptocurrencies offer so many promising benefits to the world. That said, the they also bring with them risks gamblers have never seen before.
How does a gambler spot a legitimate Bitcoin gambling site? There are many telltale signs to look for and we’re going to run through them here. It’s one thing to lose Bitcoin when the roulette wheel doesn’t break your way. It’s a completely different thing to lose your bankroll to a phishing or exit scam.
It’s time to safeguard you from unnecessary losses and give you the best chance possible to win Bitcoin on a legitimate and fair Bitcoin gambling site.
Does the Bitcoin Gambling Site Offer Provably Fair Gaming?
Bitcoin gambling sites don’t just accept cryptocurrency for deposit. Many of them will offer you the ability to actually see provably fair gaming results publicly on display. Let’s say for example that you’re playing craps. You want to be able to look back at previous roles of the dice and know that you’re being treated fairly. A Bitcoin gambling site dedicated to provably fair gaming can do one of two things demonstrate just that. Either they can list the results of previous roles of the dice directly below the table that you are playing at. Or they can point you to a provably fair gaming policy where you can contact the operators and they can show you results of every roll of the dice.
It’s important to keep in mind that either approach to provably fair gaming is generally accepted in the Bitcoin gambling world so just because you don’t see the results right in front of you, doesn’t automatically mean that you’re being treated unfairly. However, if a Bitcoin gambling site doesn’t have a provably fair gaming policy at all, the safe bet is to avoid that site altogether.
Has the Site Been around for a Significant Amount of Time?
New cryptocurrency investing opportunities and gambling sites pop up all of the time. Many of them look professional, but they quickly disappear. It’s very common in the cryptocurrency world to create a Twitter profile that very closely matches the profile of a real-life crypto influencer. It’s also very common practice to build a really nice website and launch an initial coin offering that isn’t real. More and more gambling sites are popping up and quickly disappearing.
This whole concept is called phishing. Think of it as a scammer using the appearance of legitimacy to go fishing for your personal information or your crypto. If a site looks legitimate, but it’s only been around for two weeks, stay away from it. Use Bitcoin gambling sites that have a proven track record.
Research a Bitcoin Gambling Site’s Online Reputation
If you want to vet a Bitcoin gambling sites online reputation, you can start by reading Bitcoin gambling reviews right here at BTCGG. Some popular reviews you can look at include the following sites:
You can also look at Google search results and filter them according to news posts. If a large Bitcoin gambling site is constantly in the news, it’s likely they are offering interesting promotions, have large marketing budgets and thus a large number of players that trust the site.
If you still need more reassurance about the validity of a particular site, you can consider what people might be saying about the largest Bitcoin gambling sites on the forum BitcoinTalk.org. Many Bitcoin gambling sites have BitcoinTalk threads. You can see what people really think about various sites right on there and you can also see how good your site of choice itself is at answering inquiries directly from their customers.
This post is far from a complete list of things to watch out for when you’re choosing a Bitcoin casino or sportsbook to gamble with, but the basic principles outlined here will definitely go a long way to ensuring that you can keep your cryptocurrency on gambling sites that aren’t going to steal from you or deal you an unfair hand.