How to Win at Crypto Casinos? – Info to Consider Before Playing
There is a lot more to winning at casino games than just being fortunate, and when it comes to Bitcoin big casino wins, there are a few more considerations to make if you want to succeed. The most intelligent crypto players approach their experience with finesse, adjusting every conceivable factor to ensure that the games go their way, but without cheating, of course! But what does that imply, and is there a guide to winning more Bitcoin games you can follow?
On this page, you’ll find a step-by-step manual to Bitcoin casino slot wins. You’ll get knowledge on everything, from game-changing tactics, the advantages and disadvantages of using BTC websites, and the biggest casino wins in the history of crypto gambling. We’ll also give some advice for managing your funds. Without further ado, let’s get started!
There are a few external aspects to take into account while betting on bitcoin, which is a little different from regular slot win casino betting. You can make use of these variables rather than being at their mercy.
You can increase your chances of winning Bitcoin casino games and coming out on top by combining conventional betting tactics with a few investment-style ideas. Let’s examine some of these tactics.
Martingale Method
The Martingale Strategy is a great way to play at a casino, win money, and boost your skill. This system is typically used for 50/50 bets such as coin toss games, Odd/Even, Red/Black, Hi/Lo, and even bets in other games like roulette. This strategy requires you to double your wager if you lose, hoping you’ll make up for it if you succeed. Another variation of this strategy, known as the Reverse Martingale, suggests doing the exact opposite: you should double your wager after each victory to maximize your gains.
Kelly Standard
The Kelly Criterion was created by researcher J.L. Kelly in 1956. This method, sometimes referred to as the scientific gambling approach, is a mathematical procedure used to determine the ideal bet size for a game whose returns are known (e.g., Blackjack, Roulette, etc.). The algorithm itself calls for entering several factors related to the wager, such as the likelihood of casino wins, the likelihood of losing, and the amount you stand to receive if you win. For instance, the method determines that the ideal wager amount for the best return is 20% of your bankroll for 50/50 bets (such as black/red in roulette).
Be Aware of When to Bet
This aspect, unrelated to fiat currencies, may increase your crypto slot wins casino value. This element is the well-known volatility of cryptocurrency. We are all aware that certain digital currencies are more volatile than others, but you may take advantage of this rather than seeing it as an inherent danger. Consider using Bitcoin to gamble while the value is low and using it to collect bonuses when the value is high. If you are aiming at big online casino wins, using this investment strategy in crypto gambling is proven advantageous for many players and is definitely something you should consider.
The Best Tip for Bitcoin Gambling
It’s a well-known fact that many cryptocurrency gamblers follow certain methods or techniques to get an advantage over the games at Bitcoin casinos. We’ve discussed some of the strategies to try at a casino, win real money, and double your bankroll. At the same time, the majority of players are aware that there’s not much you can do to change the odds in your favor significantly. Still, there are some small changes you can make to your strategy that might just mean the difference between an overall win or a loss, and that is frequently enough for people to at least try these Bitcoin betting strategies.
Naturally, keeping a close eye on your bankroll is one of the best approaches you can take when playing big win casino slots or table games, especially if you’re playing at a crypto casino that converts your coins into a fiat currency for use on the site as it is simpler to lose track of exactly how much Bitcoin you now have left.
Gamble Responsibly
When you’re gambling, it’s crucial to maintain your budget. It’s quite simple to allow your feelings to control your actions, and before you realize it, you’ve spent all of your money in a short time and are scrambling to pay it back, plus interest!
The biggest advice for Bitcoin players seeking casino jackpot wins is to constantly keep in mind that gaming is just a fun pastime. Playing with the express aim of making money might backfire, so avoid doing so. In the Responsible Gaming area of the most reliable online casinos, you may discover assistance and tools if you see your gaming habits taking control.
Here are a few options that may help you to play for cryptocurrency responsibly:
Loss Caps
Set a limit on how much you’re willing to lose before you even begin to play. Although nobody loves to lose, the reality is that most online casino experiences will entail loss at some point, so it’s crucial to know how to handle it. Set a number in your brain and stick to it; at some point, you must be able to stop trying and cut your losses.
Deposit Caps
Not depositing more money than you can afford to lose initially is another approach to how to win at casinos and reducing your potential losses. Set deposit caps based on the maximum amount you feel comfortable depositing daily, weekly, and monthly. You might find it helpful to use the tools many Bitcoin casinos offer to assist you in this aspect. Once you’ve established a limit for yourself, stick to it.
Games at Bitcoin Casino
There are hundreds of games offered to cryptocurrency players. But what is the best casino game to win money? Let’s find out!
Crypto Slot Machines
Nowadays, players at bitcoin casinos are quite lucky since they have a huge selection of games to pick from. These include slot machines of various sizes and shapes, ranging from traditional 1-3 payline favorites to enormous 5+ reel multi-payline games, many of which offer mind-blowing progressive jackpots. But even though slots are believed to provide the best online casino wins (in terms of the potential winning size), you cannot predict and control the outcome.
Table & Card BTC Games
Table games, especially the traditional games of Blackjack, Roulette, and Baccarat, are always popular among Bitcoin users, but you can also discover Bitcoin-compatible poker games to play.
Live Crypto Casino Games
Live dealer games have recently gained a ton of popularity, especially the stunning live show-style games where you are hosted by pros. This type of crypto entertainment is considered more profitable and brings casino big wins as it’s easier to implement gambling strategies and techniques while playing. You can observe the actions of your dealer and check how often the deck is shuffled and how exactly it is done. In the case of online slots and RNG-based table games, it’s impossible.
Playing at Bitcoin Casinos: Pros and Cons
By playing some of the largest and greatest video and jackpot slots in the industry, well-liked table games like roulette, blackjack, and baccarat, and outstanding live dealer games, bitcoin casinos are fantastic for giving you the possibility to enhance the amount of your coin collection. There are always a few thorns among the roses, though; if you aren’t aware of them, they might cause you problems. So, if you’re looking for a big wins online casino for crypto, consider the following.
Crypt Casino Benefits
Fortunately, the advantages of using Bitcoin casinos outweigh the disadvantages by a wide margin. As a start, you can be sure that your valuable coins are in safe hands and always verifiable at any point of the transaction process, thanks to the additional layer of security and anonymity provided by the blockchain, all without disclosing any of your personal information. This is perfect for individuals who like to keep their online casino gaming activities private.
Bitcoin casinos have successfully enticed players with benefits, such as sizable cryptocurrency welcome bonuses, reload bonuses, and other offers. Similar to investing, such offers are ideal for balancing or using the inherent volatility of cryptocurrency markets (i.e., claim bonuses when the value is high to get more for your coins).
The variety of exclusive, crypto-specific games available at Bitcoin casinos is another fantastic feature. These may be a lot of fun to play, and many of them are more gamified versions of forex trading.
Of course, these distinctive games aren’t the only ones that can be played using cryptocurrency. The best online casino to win money allows you to play slots, table games, and live dealer games without restriction, whether you want to deposit and play with your coins directly or have them converted into a fiat currency. Remember to play the games with large progressive jackpots as well!
Crypto Casino Disadvantages
Even if there aren’t many, it’s still important to consider the disadvantages of using Bitcoin casinos because they might differ from one casino to the next. For instance, some Bitcoin casinos may charge a fee when you use your cryptocurrency to play with one of the site’s supported fiat currencies. Finding a website that doesn’t charge for this service is preferable because it may easily build up over time and is obviously not ideal.
Similarly, players who deposit or play using cryptocurrency could not be eligible for certain bonuses and other exclusive incentives. However, it is usual to come across deals created especially with bitcoin gamers in mind, so keep an eye out for such.
The susceptibility to market volatility is the second significant disadvantage of playing at Bitcoin casinos. Still, it should be noted that this is more of a problem with the nature of cryptocurrencies than the online casino itself. Like how stocks are purchased and sold, you may reduce this risk by understanding when to use bonuses, when to play, and when to withdraw your gains.
The Largest Wins in the History of Crypto Gambling
To prove the point that winning crypto games is possible, we have created a list of the biggest casino wins ever in this industry. Without further ado, let’s look at some of the largest cryptocurrency victories, beginning with a thrilling incident that occurred in 2013, just as Bitcoin was beginning to take off:
The first and largest Bitcoin Jackpot Victory
In September 2013, the first and largest Bitcoin Jackpot win in online gaming occurred. The gamer known as Nakowa bet on dice games all weekend long. Nakowa made good use of the weekend after bringing home 11,000 Bitcoin. This victory is currently worth almost $102 million.
A record-breaking jackpot in 2017
A lucky player with the ID #28ea0d38e1 bet 0.1BTC in February 2017 on a game at a Bitcoin video casino. This tiny wager resulted in a world-record jackpot payment of 259.74 Bitcoin. Due to Bitcoin’s enormous price increase at the end of 2017, this victory would have been 20 times more profitable.
Huge win on the Play’n Go slot machine “Troll Hunters”
2017 saw yet another significant win. The “Troll Hunters” slot by Play ‘n Go was played by an anonymous user. The 0.16 BTC bet earned an incredible 216 BTC in only one spin.
Lightning Roulette changes one’s life!
A fortunate player amassed 87 BTC in winnings from the well-liked Lightning Roulette game. The participant wagered one coin on a spin with a payout of 500:1 odds and took home 49.22 BTC in return. However, during their gaming session, this individual earned a total of 87 BTC. This one is definitely worth being on the list of Bitcoin casino big wins.
Lucky Coin slot awarded a player in a Bitcoin casino with 23BTC
This anonymous player used the Lucky Coin slot machine from Amatic Games when they won 15 BTC. When converted to fiat money, Bitcoin was worth a lot when it peaked in November 2017 at almost $20,000. However, this gambler continued their winning run and won an additional 8 BTC. Their total Bitcoin gain now stands at 23 BTC.
A significant win for a newcomer at a Bitcoin casino
In 2013, a player by the name of Nickelj intelligently used his Welcome Bonus in the True Sheriff Betsoft slot machine. He received a free spin round just as the bonus round was going to conclude. After the free spin, he decided to play a Max Bet, and that choice paid off when he hit a jackpot of 55 BTC.
53 BTC in Live Roulette
Another fortunate player won 53 Bitcoin worth $340,000 in September 2018 while playing live roulette. Due to Live Roulette’s large betting limits, he was able to win such an amount.
A novice wins the jackpot and receives 29 BTC
In May 2020, a fortunate player won 29 BTC ($250.000) after hitting the online slots jackpot. This player didn’t have to wait very long to win the jackpot because they were fresh to the online casino.
Taxes on Crypto Gambling
No tax authority has yet published guidelines regarding cryptocurrency gaming earnings. However, there are detailed regulations on taxes on casino winnings and crypto taxation generally. Your choice of transaction will determine the kind of tax you pay. Only a few transactions need to be examined in relation to crypto gaming taxes:
depositing crypto;
winning crypto;
converting your profits into fiat money.
There is no precise guidance on cryptocurrency betting and how it would be taxed. It may be argued that this counts as spending your cryptocurrency on goods or services, which is taxed on capital gains. It’s a gray area, though, as you could receive nothing in return. There is a case to be made that you could write it off with no actual loss or benefit.
There is also not much information available on the tax implications of winning cryptocurrency. However, there is a lot of advice on handling gambling profits generally, and it all depends on where you reside. For instance, in the US, casino wins are subject to Federal and State Income Tax.
When you sell your cryptocurrency, you must pay Capital Gains Tax on any capital gain. This is the difference in value between the times you purchased and sold your item. The cost basis makes this complex. Your purchase price for your cryptocurrency is your cost basis. You have a zero-cost foundation for wins from gambling, in theory. Therefore, if you live in a country like Canada, where they apply the adjusted cost basis technique, all of your cryptocurrency wins may possibly be liable to capital gains tax. In the meanwhile, you might be able to alter this so that you don’t have to pay Capital Gains Tax on the total amount of revenues in nations like the US or Australia, where you have greater control over cost-basis procedures.
FAQ
Can I trust Bitcoin casinos?
Your gaming experience will be safe and secure if you sign up with a Bitcoin casino that has been thoroughly inspected and authorized, has a valid license, and operates under those conditions.
Which Bitcoin casino is the best?
It can be difficult to choose the best online casino to win money. Still, it’s better to start with licensed platforms that accept different cryptocurrencies, have a broad choice of games, and offer a casino app to win real money for smartphones and tablets.
What virtual currency gambling games are offered?
Almost any game you can imagine is available at crypto casinos. A BTC gambling site offers all games available in a land-based or common online casino, including Slots, Poker, Sports betting, Table games including roulette, blackjack, and hi-lo, Scratch cards, Craps and other dice games, Lottery games, and more.
How does crypto gambling work?
Like gambling with dollars, pounds, or other fiat money, cryptocurrency betting operates similarly: you put your wager, and either you win or lose.
What are Bitcoin casinos’ primary benefits?
The inherent security and anonymity of cryptocurrency transactions, the vast array of crypto deposit and withdrawal options, the numerous bonuses and offers that can be redeemed, the enormous selection of crypto-compatible games offered, and the value of greater control against volatility are some of the most common advantages of Bitcoin casinos. All of them contribute to potentially big online casino wins.
How to deposit money at crypto casinos?
In most cases, depositing at a Bitcoin casino involves transferring money to the site’s designated wallet address, either directly or through a third-party service. Since you’re using cryptocurrencies for your transactions, money is often credited right away. The website you’re using will then either add the cryptocurrency coins to your bankroll or ask you to select a fiat currency to convert them into so you can play the games that are offered. It’s worth checking in advance to see whether there will be a charge for this.
How can I withdraw my crypto winnings?
It’s just as simple to withdraw your winnings from a Bitcoin casino as it is to make a deposit. Simply request to have a certain amount of money from your bankroll delivered to your preferred cryptocurrency wallet. Depending on the website, there could or might not be a commission for this. It’s vital to remember that before the withdrawal request is handled, you can be asked to present identification documentation.
