The digital age has taken over every aspect of a modern man’s day-to-day activities to optimize one’s quality of life. From transportation, food delivery and running other daily errands, it has now touched on how individuals handle their money. The dynamic of the traditional economy has not been spared from the technological advancements of today, and now has a thriving digital currency functioning alongside it. Bitcoin, a cryptocurrency, is a decentralized digital currency that rids of banks and other intermediaries and allows peer-to-peer transfers. And with a new currency comes a new type of casino, Bitcoin casino. Each Bitcoin is a file that is stored in a digital wallet app that is found in smartphones and computers. Its function, while intangible, is now used by millions who patronize its ability to make monetary transactions more seamless.
With the popularity of the cryptocurrency, it is to no surprise that outlets for gambling and gaming have also been built in online spaces, and are now recognized by a huge sum of Bitcoin users.
There is now a hole on the internet where Bitcoin users convene to gamble using only this mode of transaction. Bitcoin casinos are spread throughout the world but are subject to operate following their local laws. Through the Bitcoin currency, these casinos offer a wide variety of avenues where players can bet their digital money on such as:
In a sea of options, some of the most popular Bitcoin casinos on the internet are:
While this may still be a foreign concept for most, Bitcoin casinos converge the common principles of playing online games and transacting with cryptocurrencies. It is primarily run by software, which is the heart of any online gambling and gaming business. Some of the front lining Bitcoin casinos develop and run their advanced gaming software, while small options use customizable rented versions and add a few tweaks here and there to adhere to their desires.
The software facilitates the flow of the game with minimal human intervention. For those that require a full table of playing humans, the role of the table dealer is taken over by software, which can be quite questionable for players in terms of fairness. An establishment of trust is very important when it comes to these sites, which is why they make sure to be very open and transparent with the algorithm of their software.
Some choose their avenues depending on what their peers prefer, while others choose games that offer the most unique mechanics. While a huge array of options are available, poker remains to be at the top of the gaming food chain even virtually.
Anonymity is the name of the game in Bitcoin casinos. It is one aspect that made Bitcoin gain all its traction, and deems a great advantage when playing online. Bitcoin casino sites offer zero transaction fees and unlimited transactions on the daily, while several limitations are posed with its traditional counterpart. Mostly, it’s round the clock operations make it accessible for anyone to play alongside a huge roster of anonymous characters from different parts of the globe anytime.
These advantages seem to come as a double-edged sword, for anonymity can easily be a cause of abuse and lack of fairness, and audit and verification may be harder to track. With these factors in mind, there are a few tips and tricks to assure a satisfactory win at a Bitcoin casino, from common practices to certain strategies in different games.
First off, before devising a foolproof strategy, it is important to choose a reliable casino amongst all the available options. Each player may enter these uncharted waters with much cynicism, but a trustworthy Bitcoin casino will be confident that their ‘house edge’ is enough to make a profit, and would be the first to prove that there is no manipulation orchestrated in the results whatsoever. They are glad to provide a mathematical algorithm that involves cryptography, or the art of writing and solving codes. A provably fair would show its players how to check that the results of a game are conducted at random.
One of the most famous casino games also shares the spotlight with its online counterpart, Bitcoin dice. Playing is easy: an individual must simply select the number he predicts the roll will land above or below. The higher the potential playout, the lower the chance of correctly predicting the roll. This is a game that is almost solely based on luck, but there are a few things that may come in handy for future reference:
One of the most common strategies for Bitcoin dice is to watch previous games and focus on watching the pattern that may be found in previous rolls. A probability prediction may then be formulated– if the last 10 rolls made landed under 50, then a rollover 50 may well be likely in the coming rolls.
Bitcoin dice differs from traditional dice for its bettings are based on the blockchain or the list of records that are linked through cryptography. Many Bitcoin gamblers stick to betting progressions to increase their bankroll while playing, especially on notable dice sites such as Rollin and Safedice.
Another famous gambling strategy known to Bitcoin players for different reasons is called the Martingale. While the chances of winning double may be enough for gamblers to bet on, this method also has notoriously caused some players to drain their bankrolls dry. The concept follows choosing a bet that will return a bet doubled under a win. Upon winning, the player must go back to his original wager. If he loses, he doubles his bet, so he could eventually win his original wager in profit. Probabilities may see this as a reliable plan, however, the catch comes when the chance of losing at any given time doesn’t change.
While the chances of flipping a coin landing on heads 10 times in a row are unlikely, each chance of flipping on ahead is still at 50% every time. If the amount that must be bet every time a loss is made increases exponentially, the risk only skyrockets further without the assurance of a good win at the end of this run. Most gamblers fail to remember this end of the strategy, which is why they often go bankrupt. Meanwhile, this strategy deems successful for those who have their heads in the game.
The D’Alembert Strategy
If the Martingale strategy deems too risky, The D’Alembert dice strategy puts it down a notch by making players only raise their bet amount by 1x only after each consecutive roll, instead of doubling the bet amount after every roll.
The Paroli Strategy
The Paroli progressive Bitcoin strategy that is pulled out when a winning streak is achieved. It is when a player doubles his bet after each win and will stop raising his stake after 3 consecutive wins. After a loss, he then only bets his base stake. This strategy is used to capitalize on wins and minimize losses. It is used by Bitcoin dice players on sites such as Primedice.
The world of gambling is one that believes in the equal possibility of both losing and winning– and one of the most infallible ways of going home satisfied is to rely on the brain and not get too carried away with wins and losses. Following certain strategies truly come in handy in a battlefield full of endless possibilities.
Don’t get your head too deep in the game
Bitcoin is a fascinating technological advancement that has now gone beyond making transactions easier– it also provides its users with an entertaining way to play around with their digital wallets. With this kind of access so easily laid upon an individual’s hands, comes the responsibility to use it properly and not abuse its capability. Technology can very well be a man’s helpful partner once used with discipline and accountability.