Once Bitcoin had been invented, it was expanding into the online market step-by-step. Owing to payment system anonymity, low fees, and fast payoffs, it became popular in the gaming industry as a good alternative to traditional currencies. As a result, there is a large number of digital cash casinos offering their service to the gamers all across the globe.
The digital currency is convenient for both gambling houses and players. There is no need to integrate the traditional payment system in case of specialized betting rooms. Usually, this process takes a couple of months. So, the owners save time.
However, these attractive features of BTC lead to cheating in staking houses.
They take advantage of the players, steal their money, and spoil the reputation of the industry in general. So, do not be too trustful. Check the info on the website, search for the users’ feedbacks. It is better to investigate before betting.
Distinguishing a Fraud
We’ll try to pick out some distinctive features of the swindlers to prevent you from playing at fake sites. Well, if you have no desire to become a victim, you may carefully learn the information about a casino where you are going to play.
A responsible staking house has its history, a reputable software provider, positive feedbacks and high ratings in the best bitcoin casinos for high-limit players list. Its offers are always lawful.
To detect the fraud, you should follow these steps:
Ask your friends, partners or just acquaintances about the target gambling platform. They will surely give you advice. If you have no such helpers, then you can search for the info on your own.
Fortunately, there are numerous forums and websites where you can find out the information you need.
Pay attention to the speed of payouts. If the betting room delays them and you have a feeling that it is unwilling to give you winnings, then your money is likely to be lost forever.
Make sure that the service is powered by the qualified game developer. As a rule, scammers will never waste money for a proficient game design and software. Well-known designers will not cooperate with suspicious staking houses.
The support team work is one more possible deception sign. Beware, if it responses slowly and does nothing to help you.
The license is an important indicator. It is an official document ensuring the gaming house provides secure and reliable service. It proves that the gambling institution follows certain international standards; it’s verified by special authorities and is completely lawful.
However, if the staking house has the document, this still will not mean its legality.
You may also pay attention to the jurisdiction. It has to be well-known with a positive reputation and a large number of licensed casinos.
Commonly, a certificated betting website provides a high security level and encrypted BTC transmission.
It provides effective support to the customers, has a flawless software and good credibility.
High Roller Bitcoin Casino Reputation
Reputation is highly dependent on the factors described above. You may discover whether a casino has received the negative comments or not. If the players on various detached forums or websites very often complain about the quality of the gaming house, or even it is on a blacklist, avoid it.
On the other hand, you may also avoid those websites with no feedbacks.
Also, find out how old the betting room is. Although BTC is considered to be a new trend, still those staking sites may at least be registered a couple of years ago.
“10 BTC FREE-WELCOME BONUS WITH NO PLAYTHROUGH REQUIREMENTS!” and other unreal promotions signalize that we look at a fraud.
First of all, gambling is a business. It is legal in many countries, the enterprises are registered, and they fall under the certain jurisdiction and pay fees.
That is why such promos are totally fake because no casino will exist for a long time if it loses funds.
It is difficult to put truly effective regulations on digital currency because of its specific features, such as anonymity of usage and decentralization. Bitcoins are extracted by millions of personal computers all around the world. Governments are concerned about money laundering using cryptocurrency.
As it is extremely difficult to find out who performs the transaction, authorities focused on currency exchanges. The US is going to force those exchanges to pay fines that are not aware of the risks. Intermediaries are supposed to give information about suspicious activity and disclose users’ identity. Russia had put restrictions on the bitcoin usage and even intended to make the exchange of BTC for roubles a criminal offense.
Making Your Bitcoin Gambling Safe
Now you know that there are a lot of scammers in the gambling industry. If you’re responsible gamer, you want to play safe. So, you should remember how to detect frauds and oppose them. All you need is to avoid suspicious websites, and place bets only on well-known, reputable gaming platforms, that withstood the test of time and were licensed by gambling authorities.
Also, keep your PC protected from viruses and beware the emails with doubtful invitations to play without any risking. Be wise and judicious. Your money and safeness are your responsibility.