Best Provably Fair Bitcoin Casinos
Provably fair is the future of gambling and every casino that is not provably fair will eventually stop working. You should not trust every site because many of them are not provably fair and they manipulate bets’ outcome. In the simplest way possible, we will explain what the provably fair system is and how it works.
You hear the term Provably Fair here and there, but you are not really sure what it means when it comes to online casinos. We will explain everything to you before you start gambling.
Most of the players think that they can be cheated on an online casino, they are right in most cases. It is, technically, very easy for an online casino to “cheat” on you.
That is why in the Bitcoin gambling world we have a solution called “Provably Fair”. When the casino is provably fair, it allows you to verify every single bet, to make sure you’re not being cheated.
“Provably Fair” system provides a way for both the casinos and players to contribute to number randomization, which removes any possibility of cheating (explained below).
You can use our verifiers as an easy way to verify your bets:
- Primedice Verifier
- Stake Verifier
- JustDice Verifier
- BitDice Verifier
- CryptoGames Verifier
- Bitsler Verifier
- Bustadice Verifier
- Bustabit Verifier
- Betcoin Verifier
- NitrogenSports Verifier
- BitVest Verifier
- OneHash Verifier
- YoloDice Verifier
- DuckDice Verifier
How Provably Fair algorithm works?
There are a several Provably Fair methods, we will describe the most common one.
With this method, each result is determined by these 3 variables:
- Server seed (provided by the site)
- Client seed (provided by your browser and adjusted by you)
- Nonce (A number that increases with each bet you make)
You will get an encrypted hash of the server seed from the site in advance, so there is no way for the site to change it afterwards. It is, however, encrypted and you cannot calculate your own roll results in advance (only after you change your seed).
As far as client seed goes, your browser will generate a random client seed. You can adjust your own client seed if you want to make sure the site does not know your client seed in advance.
Nonce is the number which increases by 1 with every bet you make. Nonce can either start from 0 or 1, it depends on the website.
Beginning right from ancient times, humans have actively participated in gambling, one form or the other. The adrenaline rush that one gets when gambling is like none other. This is the reason that even kings and monarchs used to challenge odds and try their luck. To this end, Dice was a popular gambling game that both Romans and Indians have played throughout history.
There are numerous tales where fortunes were made or lost during gambling. While a good gambler is the one who knows when to stop, you do need to start somewhere. Earlier, you had to travel all the way to a casino hub to try your luck. However, the current internet age has made it relatively easier to do that.
All you need is an internet connection and some bitcoins to your name, and you are good to go. Yes, bitcoin casino is the latest take of the gambling world. Also, if you like to play the odds in the game of dice, you can even go ahead and gamble on bitcoin dice or try your hand at blockchain poker.
What are the pros and cons of playing at bitcoin casinos?
It is true that bitcoin dice and blockchain poker has got a new makeover because of various bitcoin casinos. They bring along many benefits like quick transactions, transparency, etc. However, some might argue that it has taken the thrill off the game. While it is for you to decide whether this bitcoin culture in the world of gambling is good or not, let’s look at some of its pros and cons.
Pros of playing at provably fair bitcoin casinos
You might get lucky and win a fortune in no time when luck turns in your favor. But you will need more than luck to withdraw that fortune when you are playing at traditional online casinos.
Most service operators take up to a week to transfer your winnings to your account. It is also provided the casino doesn’t put a halt on the transaction claiming faults in your winnings. On the other end, they won’t take a second while processing your payment.
Bitcoin casinos have changed the way the transactions were traditionally taking place. The fund transfer, whether you are receiving or sending the payment, has never been quicker. All you need to do is link your account, and the transactions will happen in a matter of minutes.
Safety of funds
When you want to start playing on one of the online casinos, you need to input your debit or credit card details. All of us know how risky it can be, considering all the cyber threats that we currently live under. The websites might store your data, or a hacker might break into your account.
When you play through bitcoin casinos, there is no such threat. All you need to do is link your account with your bitcoin wallet, and you’ll be all set to play.
Privacy and security
Most of the players who are involved in casino games prefer to be anonymous while cruising the online casino world.
This decision is very well understood. However, you need to clear the know your customer (KYC) and other legal requirements before you can start playing. This process can be long, and you might end up losing the will and interest to play.
However, there are many bitcoin casinos US that just need your email account and a bitcoin address. Once you provide these details, you can start playing right away.
Clarity and transparency
There is a saying, ‘House always wins.’ It is a fact when it comes down to the traditional online casinos, which have an edge. Also, because these casinos operate on private networks, there is not much that you can do about it in case the casino chooses to rob you of your money.
However, bitcoin casinos are empowered by blockchain that offers a transparent record of transactions. This ensures that you will never get cheated.
Cons of playing at bitcoin casinos
Bitcoins are volatile and undergo extreme daily changes in their value. This volatility can be attributed to the low supply and ever-increasing demand for bitcoins. Many players prefer using money over bitcoins because of their easy availability.
A new form of currency
Bitcoins are the currency of the future. It was just recently invented. So, it is yet to take its final form.
One of the biggest controversies around bitcoin gambling is that the source of the funds is untraceable. Some people argue that bitcoin casinos are the most convenient way of laundering money and illegitimate channel funds.
There are both pros and cons of using bitcoin, just like two sides of the coin. However, we believe that its pros outweigh the cons.
Is bitcoin gambling legal?
The legality of bitcoin gambling hasn’t reached a final verdict yet. There are various schools of thought and opinions around this. Here are some points regarding bitcoin gambling that you must be aware of.
Neither legal nor prohibited
There are no specific governing rules around bitcoin gambling. While there are no laws that legalize this aspect of gambling, there are no criminalizing laws either.
Same laws as online casinos do not imply on bitcoin casinos.
Technically, bitcoins are not a currency. Yes, it is a medium of exchange and has properties similar to another currency, but still, it is far from it.
Because bitcoins are not a currency, the rules governing online casinos that transact in money do not apply to it. But, the world of bitcoin is rapidly advancing and taking a new form every day. We are still to find out what various governments decree about it in the future.
Be cautious of the country-wise laws and accepted practices.
In countries like the USA, where gambling is a crime under law, authorities might not take kindly to bitcoin casinos as well.
So, if you are planning to visit a bitcoin casino US or any other for that matter in the countries that frown upon gambling, it is advised that you remain cautious at all times.
Anonymity is the key.
The world of bitcoin casinos prefers to stick to the shadows and place high weightage on anonymity. And, various tools like Thor have helped this new world of gambling to make their activities and transactions even more anonymous than before.
In some countries like the United Kingdom and Curacao, there are regulatory bodies that are issuing licenses to bitcoin casinos as well. These bodies claim to regulate the functionality of these casinos. So, if you are looking for a safe place to try your luck, you might want to head to one of these countries.
Bitcoin Casinos – what is the key takeaway?
In the world of gambling, bitcoin is the new arrival that has already made space for itself. More and more thrill seeking gamblers are making their way to these casinos to try their luck because of the many benefits that it offers.
However, whether it is through money or through bitcoins, you are still gambling. So, it is advised that you be careful when playing against the odds and while choosing the casino to play at.
Additionally, we need to wait and see how governments respond to this new culture of bitcoin casinos. Till then, you can head to one of the few who have already obtained some license.