The world of online gambling has been turned on its head by Bitcoin. There is no longer a need to worry about whether or not a site is legitimate. You finally have an option apart from entering your credit card number and hoping for the best. If the site you are visiting is an online casino driven by bitcoin betting, then you know, without a doubt, that they are a legitimate casino. Any casino that allows users to bet with bitcoins is established as being committed to fairness, low transaction rates, and transparency.

Placing a bet with bitcoins will always be fair. Bitcoin gambling sites have even popularized a new term - provably fair. You can do a web search or just look around the website of the bitcoin casino site that you would like to visit to see if it publishes details of how it conforms to the particular expression. Many sites publish the way that they find the ‘lucky number’ that was used in their betting algorithm that day based on each transaction ID. Other sites allow you to ask for and/or verify virtual shuffles of the virtual decks of cards being used in poker or blackjack. The best bitcoin betting sites will prove to you that they are fair.

Another great feature of bitcoin betting is that, because Bitcoin is both a type of transaction medium and a means of completing transactions, you never have to rely solely on the gambling site or a third party like a bank or a wire transfer company to transfer your winnings to you. When you are ready to cash out, you will only have to put in a request and wait a few hours, and fees are usually very low as opposed to many Las Vegas gambling sites which often charge 5% or 10% for transferring your winnings. When you bet with bitcoins, you know that you are going to get a square deal in the end. The gambling site need not pay hefty banking fees and that goes for you too.

Transparency is key when you gamble online, and transparency is king when you bet with bitcoins. As already mentioned, bitcoin casinos are provably fair through their published algorithm data and verifiable virtual shuffling, but more than that, you can be sure they are not cheating because you can records of every instance of bitcoin betting for every bitcoin user are kept through a public ledger system called the bitcoin blockchain. Parties remain mostly anonymous in the records viewable to the public, but you can rest assured that there is some oversight to bitcoin exchanges to hold cheaters accountable.

Bitcoin betting is exploding in popularity around the world, but many people have yet to understand the true power of this new system. When you bet with bitcoins, there are several safeguard in place to make sure that you will be treated fairly. Your transaction rates will always be low, and you will never have to deal with a third party. Any doubts about the legitimacy of a site that trades in bitcoins is quelled by the transparency and oversight built into the system.


What should you expect when you bet with bitcoins http://www.betcoinpalace.com ? Online sites that have launched this feature claim that bitcoin betting http://www.betcoinpalace.com is fair courtesy of the transparency involved in its dealings and this also saves the individual from paying hefty fees.