In recent years, online casinos that support Bitcoin have become increasingly common to find in India. However, not every casino site that accepts the currency markets itself as a Bitcoin casino; only a few do. But what exactly is the difference between a Bitcoin casino and a regular online casino?
In a nutshell, an Indian Bitcoin casino is not much different than a traditional casino site. The gambling experience you get is more likely to come down to each individual company and what their strategies are rather than if the casino is labeled as a Bitcoin site or not.
With that being said, some things are in fact more commonly experienced at Bitcoin casinos than traditional casino sites, which sets them apart when looking at them from a top-level perspective. Let’s have a look!
Method of Payment
It is not uncommon for Indian casino sites to offer Bitcoin as a deposit and withdrawal method. However, their focus is normally UPI and NetBanking and there is no guarantee that cryptocurrencies are supported whatsoever.
On the other hand, gambling sites that market themselves as Bitcoin casinos always support Bitcoin as a payment method. They often offer other cryptocurrencies as well and may not enable you to deposit with UPI, NetBanking and fiat currencies at all.
Multiple Currency Account
A common feature at Bitcoin casinos that you normally wouldn’t find at traditional fiat sites, is the possibility to use multiple currencies on your casino account. For instance, you may make one deposit in Bitcoin and then another deposit in USDT. You can then switch freely between these two currencies as you gamble at the casino.
In general, withdrawal times tend to be a lot faster with Bitcoin casinos than traditional casino sites that only use fiat as a currency. It's not always true as there are many Indian casinos that pay out winnings fast; within a few hours at most, while some Bitcoin sites have lengthy withdrawal processes.
However, from our experience reviewing both Bitcoin casinos and online casinos that use fiat currency, the average withdrawal time at Bitcoin sites is much shorter.
There aren’t a lot of traditional casino sites that have their own forums and allow players to engage with each other via a chat that’s integrated into the casino’s interface. However, this is certainly a thing at many Bitcoin casinos. While it isn’t true for all sites, Bitcoin casinos tend to have a strong community focus that fiat casinos lack, which provides a more social gambling experience to players.
While every gambling site has its own strategy when it comes to casino bonuses, these are generally bigger at Bitcoin casinos than at fiat sites. For instance, getting a first deposit bonus of up to ₹1 crore would never happen at a traditional online casino, but this is quite commonly found at Bitcoin casinos.
Casino sites that only offer Bitcoin and other cryptocurrencies as a payment method are almost always licensed in Curacao; either by Curacao eGaming or Antillephone N.V. While many traditional casino sites have these licenses as well, it is also common for them to be licensed by the Malta Gaming Authority and the UK Gambling Commission.
Compared to the two latter licensing organizations, a Curacao license is much easier for a gambling site to obtain. This organization has less oversight and regulation over online casinos than the other two.
One could easily argue that Bitcoin casinos in general are less trustworthy than traditional casino sites even if the lines between the two are blurred. You can definitely find Bitcoin casinos with a top reputation that does everything honestly, as well as fiat casinos that are notorious for being unjust towards their players.
However, since Bitcoin is a decentralized payment method that isn’t owned by anyone, Bitcoin casinos don’t have to partner up with any payment provider. Along with the fact that they’re almost always licensed in Curacao raises more red flags with these types of casinos than traditional casino sites.