It's nice to play at a new online casino but you always need to be vigilant to make sure it's not a scam. If a regular fiat currency online casino steals your money, you always have the option of phoning your credit card company to reverse the charges. If you send bitcoin to a scammy website then you are never going to get it back. To avoid this happening, there are a few things I always do before I play at a bitcoin casino.... Check if there are reviews for this bitcoin casino If you do a Google search for "casino name review" and you don't get at least 20 results then alarm bells should be ringing. If affiliate websites aren't reviewing the casino then that probably means they have already figured out it is a little bit dodgy. Do a Google search for "casino name scam" It's highly unlikely that you are the first person to stumble upon this new btc casino. Chances are many other people have had money stolen and have already left furious forums posts warning other users to avoid playing there. Ask yourself if the bonuses and promotions are too good to be true Bitcoin gambling scams will try anything to persuade you to send money to their bitcoin wallet and this includes offering ridiculously generous sign-up bonuses and loyalty programs. Most bitcoin casinos offer anything up to 1 BTC as a deposit bonus. Beware of anyone offering significantly more than that. If you have any additional tips for avoiding dodgy online casinos, please add them below. You can always find a list of reliable and trustworthy sites on our Bitcoin Casinos page.
Most online casinos have licensed their games from a number of major providers who would have done some background checks first. I usually create an account before I deposit to see which games are available and to check if I can just try some of the practice games. If the games have all been developed in-house and you can't play-for-fun then that sets off alarm bells for me.
There are lots of online casinos that are licensed and regulated in places like the Isle of Man, Panama, Saint Kitts & Nevis and other off-shore gambling jurisdictions. In order to be granted and to keep their gaming license they need to jump through various regulatory hoops. It's far less likely that you will get ripped off by one of these casinos as they are continually being audited by the gaming commissions of each country. Why take a risk at an unlicensed bitcoin casino when there are plenty that are fully regulated.
Deposit a small amount of bitcoin, play a couple of games and then request a payout. If it take them longer than 24 hours to process the withdrawal, you should find another casino.
I guess you should also check to see if the games are provably fair. When playing at a new or slightly suspect bitcoin casino, you should always use Provably Fair verification tools to make sure you are not being cheated.
Online casinos that also accept credit cards in addition to bitcoin are probably safer. If they were a scam and lots of players were requesting charge backs then Visa and Mastercard would stop servicing them.
Seriously? How many people who play at bitcoin casinos regularly test the games for fairness? I know I never have.
If I was testing a brand new casino I would also test a handful of games just to be on the safe side.
if they are a bitcoin only casino yet they ask you to provide a copy of your passports and banking details for kyc purposes.
considering how dodgy dark markets and bitcoin exchanges have proven to be, i'm quiet surprised that more bitcoin gambling operators haven't pulled exit scams.
Another good way to figure out if any online gambling operators is a scam is to do a quick search on the affiliate forums. When a poker room or casino is about to go bankrupt, they typically start missing affiliate payments first since these payments probably represent about a quarter of their profits. If you see that affiliates are complaining about delays in getting paid, then you should withdraw your BTC as quickly as possible.
any bitcoin casino that doesn't process your payout in less than 24 hours is dodgy in my books. if i have to wait 2 or 3 days for a withdrawal then i rarely deposit there again.
i've heard of some gambling sites like cloudbet asking their customers for kyc/aml documentation when they win big. this to me is a scam. tell people upfront that you are going to put them through kyc and aml or you are running a scam. many people may be gambling at bitcoin sportsbooks and casinos because they don't have the necessary documentation like passports and utility bills to join sites like bovada or betonline so they can't comply and lose the money.
i've seen a lot of new gambling sites saying that they're going to revolutionise gaming by issuing their own ICO token. as soon as any casino or poker rooms starting mentioning an ICO then i'd run a mile. they'll probably all end up in jail eventually when the SEC catches up with them.
You know a crypto casino is a scam if it is run by Roger Ver, the biggest con artist of them all. I can't believe people actually gamble at the casino games on his website.
I agree 100%. Any gambling site that expects you to buy a specific token to use their service is likely a scam. They are just looking for some greater fool to hold their shitcoins. Stick to casino, sportsbooks and poker rooms that use well established cryptocurrencies like bitcoin, ethereum or litecoin.
Another good sign that a crypto casino is not legit is if they screw their affiliates. If you Google the casino name and you find lots of messages from affiliates saying that they never got paid then that is a very bad sign. If they will screw their affiliates then you can be damn sure they will also screw you.
If you are new to the world of online gambling then I would recommend that you can check out these guide before you deposit any money at a gambling site https://www.bitcoingambling.io/cryp...ws/how-to-choose-a-crypto-casino-that-is-safe