How to avoid getting scammed when you gamble with bitcoin

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Jun 29, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    I thought it would be useful to start a thread where people can offer advice on how not to close all your crypto when you use a bitcoin bookmaker, casino or poker room. To get the ball rolling here are a few tips from me...

    1. Only Choose Reputable Online Websites
      Back it in the early days of btc it was quiet hard to tell the legit sites from the charlatans. Thankfully those wild west days are now over and a number of sites have established themselves as major players in the industry. While it is still possible to get robbed by any of these companies, the odds are greatly reduced. On the menu above you will find a list of the best bitcoin poker rooms, bookmakers and casinos.

    2. Use Licensed & Regulated Bitcoin Gambling Operators
      If an online casino is regulated by a gaming commission somewhere, there is less likelihood that they will disappear with your money. In order to receive a gaming license most companies have to follow certain rules and allow themselves to be audited regularly in order to operate in a certain jurisdiction.

    3. Use Provably Fair Poker Rooms & Casinos
      Why would you risk your money playing blackjack, dice or slots somewhere that isn't provably fair. Take advantage of this new breakthrough.
    Anyone else have some wisdom or advice on this subject?
    Last edited: Feb 9, 2017
  2. 4TheWin

    4TheWin Member

    Bitcoin withdrawals are free and almost instant so don't leave any more money in your account than you can afford to lose. I rarely have more than a hundred bucks in any of my sports betting accounts.
  3. EthHead

    EthHead Member

    If you are a nervous nelly then you could just stick to major online gambling sites like Americas Cardroom and Bovada who also accept bitcoin. They offer casino games, poker and sports betting so you really never need to use the newer and much smaller sites that only accept bitcoin.
  4. Kaboom

    Kaboom Member

    I usually make a couple of small deposit and withdrawals of $5 first just to make sure everything is above board. In the early days you had to take a little bit of a gable when choosing a bitcoin gambling sites. These days there are plenty of established poker sites, sportsbooks and casinos to choose from so it's far less risky.
  5. Humble Servant

    Humble Servant Active Member Staff Member

    Because fake bitcoin wallets are increasingly appearing in Google Play and the iTunes App Store, you should follow these recommendations before you download a BTC wallet app to your phone.
  6. 4TheWin

    4TheWin Member

    Fake wallets are also being advertised by Google Adwords. Never deposit your bitcoin at a web wallet you found on Adwords as it might be a scam. Only use wallets listed on
  7. Wonka

    Wonka Member

    Recently online poker sites like Lock Poker and Full Flush have abruptly shut-down and stolen all their players money. On some forums I've read about players who have over $20,000 in their player accounts that they've now lost. It seems totally insane to thrust any online gambling operation with that kind of money, regardless of whether they are regulated and licensed. If you can't withdraw your entire balance within a month then start playing at a different poker site until you can. Never leave your bankroll accumulate into 10's of thousands.
  8. Umair

    Umair Member

  9. Spud

    Spud Member

    if you use anything other than bitcoin for gambling then you might end up scamming yourself. while the price of btc has been surging for the past few weeks, the value of altcoins has been dropping. if you have deposited using dogecoin or litecoin, when the time comes to cash-out your coins will be worth less. so don't scam yourself by using alt-coins, only gamble with bitcoin.
  10. Header

    Header Member

    Some traditional bookmakers have hidden bitcoin frees. For example, when you make a bitcoin withdrawal at Betonline, they will charge you a fee of 2%. Other sportsbooks like Bovada and 5Dimes have zero fees for deposits and payouts so read the small print.
  11. 2damoon

    2damoon Member

    Sometimes it's so easy to set-up a new account at bitcoin gambling sites that people get sloppy when creating their passwords. It's important to use a unique password for each site to prevent hackers using your login details on other sites and emptying your account.
  12. Humble Servant

    Humble Servant Active Member Staff Member

    I'm happy to report the BetOnline poker room and bookie have eliminated all fees associated with both deposits and withdrawals. You can now just expected to pay the network fee.
  13. Doyle

    Doyle Member

    I've been reading lots of storied about people getting Bitcoin Cash (Bcash) and Bitcoin addresses mixed up. If you are depositing BCH at your crypto sportsbook, be sure you don't accidentally deposit BTC/XBT instead. That could be a very costly mistake to make.
  14. Humble Servant

    Humble Servant Active Member Staff Member

  15. Terry

    Terry Member

    avoid any websites that claim that they will split your coins for you. for example, in the recent bitcoin gold hardfork, a number of website were setup that asked users to input their private keys in order to receive their free bcg but these were scams and anyone that would have used them would have lost all of their bitcoin.
  16. Humble Servant

    Humble Servant Active Member Staff Member

    We could also recommend that you avoid Ethereum or EOS casinos that run on smart contracts because a couple of them were backed recently. Smart contract casinos are not secure and you might end up losing all your money.
  17. Spud

    Spud Member

    I like the new generation of Lightning Network gambling sites like because you don't need to create an account or deposit large amounts of money at a casino to play. Because the Lightning Network is so fast and cheap, you can simply pay for each individual spin. If you win, you can instantly cash out so you don't need to leave any money sitting in your betting account.

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