Now that many casinos are starting to use cryptocurrency to facilitate transactions, it is no wonder that most of these are also offering bonuses not in terms of legal tender, but in bitcoin. Instead of getting more money from bonuses, you get more bitcoins.
Since this is a new trend, we will be taking a look at the best bitcoin casino bonuses you can use as far as bitcoins are concerned, so you can get the most out of your digital currency. After all, a bitcoin is expensive, and the price fluctuates, so you might as well use it wisely, for example, by registering only at a bitcoin casino no deposit bonus promo.
Welcome Bonus with Free Spins
Since Bitcoin (BTC) is the most commonly accepted cryptocurrency in casinos, this is also the most common kind of BTC casino no deposit bonus that you will receive. One of the best offers that you can possibly have is free spins, which also have a financial value expressed in bitcoins.
Typically, BTC bonuses work with an offer of free spins if you deposit bitcoins into a casino.
Examples of the establishments that accept BTC are:
- Fortune Jack
- Bitcasino.IO
- CloudBet
- KingBit
Many casinos do not stop with offering free spins, as they also offer match-up bonuses. Since bitcoin has a high value, casinos do not expect players to deposit a whole bitcoin. The common practice is to offer bitcoins bonuses in tranches. Below are some of the free things you will get if you use cryptocurrency on these online sites:
- 100% Match-up capped at 1.5 BTC on your first deposit
- Second and third deposit will grant you up 50% match-up bonuses capped at 1 BTC
- The fourth deposit grants you another 100% match-up bonus maxed at 5BTC
- All deposits will have accompanying free spins that can range between 50 and 250 free games
All of these are great bonuses, but there are rules, such as making the second and fourth deposit within a three-week period. Naturally, you should be willing to bet all the BTC you deposited, or your bonuses will be forfeited. It is up to the casino to decide if the money you deposited will be the first one that is used, or if your bonus is used first.
No Deposit Bonus
This is a common welcome package that casinos use to attract new players. The player just needs to make a deposit, and then he will receive a certain amount of money. This money cannot be withdrawn, and can only be used to wager on games. Usually, the winnings may be withdrawn, and there is a cap or maximum amount of money that you can withdraw.
Examples of casinos offering this kind of bonus are:
- Monte Crypto
- BitStarz
- King Billy
- Fortune Jack
The way it works is that you sign-up, you receive a bonus in terms of legal tender, and if you win, you can withdraw it as bitcoin, not as cash.
Here is the lowdown on this kind of bonus:
- There is a wagering requirement on the bonus which is usually between 30x and 40x of the bonus amount
- You have to meet this wagering requirement within 30 days
- You cannot withdraw this money
- You can only withdraw the winnings from the bonus money
- Not all games qualify, which means you can only wager the bonus on specific games
- Each game has a contribution percentage
- There is a maximum amount of money you can wager per round
- There is a maximum amount of money you can withdraw from the winnings
If you violate any of these rules, the bonus money you got, and all the winnings will be forfeited. You need to read the terms and conditions, so you understand these rules, and each casino has a different set of terms and conditions from the others.
100% Cashback with 275% Bonus from Superior Casino
This is a kind of bonus where you will receive 275% match-up on your first deposit. The casino caps your first deposit at 1 BTC. After your first deposit, you will have a total of 3.75 BTC to play with.
Most casinos, however, will limit your bonus in terms of dollars, euros, or pounds, so do not be surprised if your 1BTC deposit will only grant you with £2,750 in bonus value.
Like other bonuses, there are rules to this promotion, such as:
- Wagering requirement of no less than 33X your deposit and your bonus;
- A maximum cash out or withdrawal value from the winnings;
- You must meet the wagering requirement within a specific period of time, or the casino will forfeit all the bonuses and the winnings from them.
For the cashback, this means you can get the original deposit back and withdraw to your bank account or your original deposit method. Usually, you can only get this cashback within three days after you made the deposit. Otherwise, you need to wager it before you are qualified to withdraw, even if it is your money.
Reload Bonus
In this kind of promotion, you will get like 50% of what you deposited, and this is usually on top of the welcome package or offer you got. Typically, this kind of bonus is given on a weekly basis, and there is a cap or a maximum amount that a casino will provide.
Examples of casinos that offer reload bonuses are:
- KingBit
- Golden Crown
- Monte Cryptos
- AIF
Here are some of the common rules of the reload bonus:
- It happens usually on Friday, which means you have to make a deposit on Friday
- The bonus money for your reload is capped between 1BTC and 5BTC.
- The amount of bonus may increase depending on your VIP level
In most cases, the BTC value is also capped by the casino. What this means is that 1 BTC may be worth £10,000 by the time you made the deposit or reload, but the casino will only give you a maximum of £300 as a 50% deposit or reload, even if you deposited 2 BTC.
If you read news about crypto gambling, you will find out that different governments are slowly stepping in to regulate cryptocurrency, especially for gambling, the reason behind this is that gambling can become a hot spot for illegal activities.
Summary
Since the price of bitcoin fluctuates every second, many casinos do not use bitcoin as the main currency for playing. This is usually what happens if you play with bitcoins and if you use the bitcoin bonus:
- You deposit bitcoin to your casino account
- The casino uses a custodian, like a BTC wallet, to keep your deposit
- Your bitcoin is converted into legal tender or any fiat
- You use that money, like dollars, GBPO, or EUR, to make wagers
By the time you are ready to withdraw, the dollar or GBP money you have in your casino will be converted into the current bitcoin price. It can be lower than your original deposit, or higher. The trick here is to be aware of the current bitcoin to money conversion. If you deposited 1 BTC value at £10,000, and then by the time you are done playing you still have £10,000, and yet the bitcoin value is less, it is better to hold off on the withdrawal. Your £10,000 will remain intact in the casino account. All you have to do is to wait until your £10,000 is equal to 1 BTC again. You also need to consider the taxes and withdrawal fees to ensure you do not lose any money from your original deposit.
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