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Bitcoin as a bonus tool on gaming sites

Image: Bitcoinist

The growing popularity of cryptocurrency makes a lot of industries eager to adopt a new ecosystem. Since gaming websites love new trends, they are welcoming cryptocurrencies not only as an alternative payment method but also as a way of earning free coins in the form of in-game credits or bonuses.

First and foremost, it is important to highlight the types of websites that allow users to get cryptocurrency playing online. Technically, there are two main options – blockchain-based gaming platforms and online casinos.

Blockchain-based gaming platforms are still in its infancy as they require a more advanced and tech-savvy approach to their development. Some of the notable examples include Enjin, Decentraland, and FirstBlood. The general aim of these platforms is to introduce a decentralized environment, where users can create and play games earning crypto as a result. Generally, such websites will offer their own cryptocurrency as a reward.

Online casinos work in a different way – they will allow you to deposit and withdraw various coins, even the major ones. Top it all, there are some tricks that gambling websites use to attract more crypto players. Most of them offer lavish Bitcoin bonuses. Although there are various promo offers available, not all of them are so much profitable as they might seem.

Key advantages of Bitcoin

But, why do casinos stimulate their visitors to gamble with BTC? Why do they provide great bonuses with respectively low requirements? The thing is that cryptocurrencies are in the gray law zone at the moment – they can’t be controlled or manipulated by governments or financial authorities. A lot of countries do prohibit gambling, but the regulations are usually imposed on real-money casinos. This opens the doors for online casinos to easily expand their audience by accepting crypto.

Another reason why gambling websites prefer Bitcoin and other blockchain-based projects are their innovative nature. The decentralization of crypto allows customers and services to get rid of third parties. There are only a sender and a receiver involved – namely, a player and a casino. With crypto, online casinos facilitate deposits and withdrawals, remove unnecessary fees, and, again, attract more customers. Seems like a win-win situation.

Types of rewards

Basically, Bitcoin promo codes function in much the same way as ordinary ones. Let’s discover what types of them are usually offered by gambling websites.

Deposit bonuses

It’s the most popular type which is on offer at practically every casino. It is simple: for each deposited BTC or a part of it, you will get additional BTC. The exact number depends on conditions. For instance, 100% bonus means that the deposit amount will be doubled: for 1 BTC you will get extra 1 BTC. Usually, it is valid for the first deposit only, but sometimes it’s possible to get rewards for the first four deposits.

No-deposit bonuses

To benefit from this offer, you don’t have to spend anything! Online casinos try to attract different players, so they allow gambling without deposits at all. Upon registration, a new user may receive a certain amount of BTC (usually, mBTC). Even though it sounds fascinating, these bonuses have insane wagering requirements which make it hard to actually cash them out. Many gamblers fall for it and then make huge bets trying to meet the requirements. That’s why it’s crucial to read through the conditions before accepting any ‘goodies’ from casinos.

Free Spins

This type isn’t much related to crypto, but it is available in games where you can play for BTC. Free spins allow you to play slots without betting your money. To withdraw everything you won during these ‘extra’ rounds, you’ll need, again, to meet the wagering requirements and make bets with your money of the defined amount.

Wagering requirements

The main trick with promo campaigns is their requirements. Obviously, casinos don’t want to lose money, so they force users to gamble more and more. To cash out, one must wager the multiplied amount of a particular bonus. The lowest multipliers are x5, the most popular are x25-x50, though the number differs from one game to another.

Sometimes there are also time limitations for using promo offers and rollover: for example, gamblers should bet all of the ‘free money’ during a week and then bet an amount twice as big during another week. Otherwise, prizes burn out.

Playing with Bitcoin bonuses

Bitcoin is used by casinos like fiat money. As mentioned above, there are deposit and no-deposit bonuses which have standard rules and wagering requirements. While they may seem very generous, make sure to read through terms and conditions, as gambling websites may play a trick on their customers and set harsh “playthrough conditions” so that no one will be able to benefit from the promotions.

But that doesn’t mean you have to refuse to get bonuses! They still can be a nice encouragement that allows exploring a chosen casino or a particular game. ‘No-deposits’ are especially useful – you don’t lose money and have an opportunity to test all the game functions to their full extent.

With the high level of Bitcoin’s popularity and acceptance, casino owners are likely to implement new rewards for crypto players. Gambling websites want to be known as prestigious and highly topical – so who knows how generous they will become when launching yet another promotional campaign.

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