Bitcoin Slots – What’s the Utility?

Bitcoin slots have exploded over the last five years. They’re now featured at a wide range of online casinos.

You may be wondering why Bitcoin (BTC) slot machines have become so popular all of the sudden.

The main reason why is because they offer some inherent advantages over traditional payment options. I’m going to cover three of the biggest BTC slots advantages here.

Decentralized Money

If you live in a country like the United States, then you’re used to dealing with restrictive online gaming laws. The US has a law (UIGEA) in place that prevents American financial institutions from processing “unlawful” gaming transactions.

However, internet gambling isn’t illegal in the US on a federal level. You therefore only need a way around the UIGEA to legally play online slots.

Bitcoin offers this way, because it’s decentralized money. No bank or government controls BTC since it is run through an open ledger.

You can therefore use Bitcoin to play at many “offshore” online casinos that otherwise have trouble accepting traditional payment methods.

Nearly Anonymous Transactions

You may hate the idea of your online casino transactions showing up on a credit card statement.

You won’t have this problem with Bitcoin. Every transaction is merely recorded under different wallet addresses.

You don’t need to worry about the transactions showing the casino’s name. This fact is nice if you have a partner whom you don’t want seeing your latest casino deposit.

No Rejection by Third Parties

Credit cards and eWallets can reject your gaming deposits for any reason. But you don’t have to worry about this with Bitcoin.

BTC transactions are verified by miners who complete computational puzzles. They merely want to collect on transaction fees – not scrutinize your purchase/deposit.

You can therefore place as many casino deposits as you like without worrying about being rejected.