Do Bitcoin Casinos Offer Free Bitcoins?
One of the best things about gambling at an online casino is the availability of free money in the form of welcome bonuses and other promotions. Today there are many Bitcoin casinos which are experimenting with the same model. There are a few things you should know about the possibility of getting free Bitcoins from an online casino before you rush off to sign up and start gambling.
Many Online Casinos Promise Free Bitcoin
Just doing a Google search on “Bitcoin Casino” will yield up hundreds of results. Many of these might only be six months old. It seems like everyone is trying to capitalize on the popularity of gambling with cryptocurrency. To attract players it is common for these casinos to promise the world, and sometimes the world means giving out free Bitcoin.
One casino that we encountered while researching this article was promising players a welcome bonus of up to 5 Bitcoin! Now, if you follow the cryptocurrency markets and do the math you will understand that this could mean getting anywhere from $30,000 to $40,000 or more in free money depending on the exchange rate at the time one claims the bonus. Of course, it’s a matching bonus so the player would need to deposit an equal amount of Bitcoin in order to receive it.
So, we need to ask ourselves a serious question here. Which online casino could stay in business by regularly giving away $30,000 to $40,000 to new players just for making a deposit. The only reason a casino would be willing to engage in such reckless behavior was because they had a certainty they would get that money back and then some.
Let that be a word of caution. Many of the Bitcoin casinos that are popping up today have not established a good reputation online. They have not been operating long enough for good reviews to be posted. They have not substantiated a track record for quick payouts. You could sign up at the wrong online casino and lose the Bitcoin you deposited.
Another Way to Get Free Gambling Money at Online Casinos
While getting rewarded with free Bitcoin at an online casino might not always be a possibility, it is possible to use Bitcoin to get bonuses. Then, if you are able to cash out winnings from your bonus, you can receive the cash out in Bitcoin. The end result is the same. You’re just going about it in a different way.
Take an online casino like Miami Club Casino as an example. You can make a deposit with Bitcoin at Miami Club. The casino will then credit your account with the proper amount of Bitcoin depending on the exchange value. You will also then be able to take advantage of the deposit bonus offer that is given by Miami Club. At the time of this writing players were receiving a 400% match bonus up to $4,000.
There are some stipulations to claiming this bonus and cashing it out. Before you can withdraw any of the bonus portion of the money in your account you will have to satisfy some playthrough requirements. That means you have to wager the amount of the bonus money X number of times before it is available for withdrawal. You can satisfy the playthorough requirement on most any of the games at the Miami Club Casino from slots to blackjack.
Once you have completed the requirements, all you need to do is elect to receive your withdrawal in Bitcoin. The funds will be removed from your account, converted to Bitcoin, and sent to your wallet. In most cases you should receive the withdrawal in 24 hours.
Playing blackjack online with Bitcoin is fun, and you just might increase your stash of tokens. Who knows? The Bitcoin you win could vastly increase in value, too, making you a double winner!