The Good And Bad Of Bitcoin Gambling
Let me first start with clearing the air a little. This article is not going to another addition to an already increasing horde of write ups talking incessantly about why the bitcoin revolution is bad for the internet and its users. I am also not going to take sides with the entrepreneurs and online casino owners and create a sales pitch in this article about why you should try bitcoin gambling. This article is only a humble attempt to present the facts as they are and help you analyse the sport, the actual value worth of this entertainment option and the many ways in which you can have a safe experience while using these services. Please consider this article as an unbiased guide to the good and bad things about bitcoin gambling.
The good things
There is of course some basis to the huge amount of popularity that the bitcoin revolution seems to be enjoying, especially in the cyber gaming world. There are some pretty obvious advantages of bitcoin gambling that sets it apart from any other similar format of gaming. Lets see what they are..
- First of all, bitcoin gambling is legal everywhere. Even in the states where gambling with regular currency is banned, you will find casinos that use online currencies carrying out perfectly legal operations and thriving. You can therefore understand how lucrative this format is, both for gamblers as well as casino owners.
- Regular online casinos have complex payout policies which usually make you wait for about 7 to 10 days before you can get your hands on your winnings. Bitcoin gambling however offers instant withdrawal options, making it easy and convenient to access your money.
- The bitcoin gambling world isn’t yet regulated by the laws and restrictions of the online gambling industry. Not using regular currency has created many huge advantages this way. The games, therefore aren’t necessarily standardised and you can expect to find much more excitement here with new types of games or creatively enhanced versions of older ones.
The bad things
As I had indicated earlier, not everything is sunshine and roses about the bitcoin gambling industry. There are some disadvantages associated with this format that you need to watch out for. Here they are..
- Because the industry isn’t falling under the purview of any regulation, there might be connections with the dark sides of web as well, including money laundering rackets of large proportions.
- Owing to the popularity of the format, more and more casinos are cropping up in the industry like mushrooms. Beware of low quality services and bad experiences.
- Another issue can be the threat of hacking, malware, phishing, scams and other security issues.
- No regulation also means there is no safety net that players can fall back on in case of being cheated or tricked into a scam. You will be exposed to a lot of vulnerability.
In the end I can summarize with only one thing – bitcoin gambling is good but you need to ensure that you play with only trustworthy casinos. FortuneJack.com is one name you can trust.
About The Author
Kira Jones is an expert of the world of bitcoin currency and its popular use in the online entertainment industry. She recommends FortuneJack.com as the best bitcoin casino on the web and has also written many articles and blogs to help people understand what the industry is all about.