Since the poker boom of the 2000’s, legal bitcoin poker has been at the forefront of popularity in the online gambling atmosphere. There are software companies that have formed their entire business plans on developing and updating poker software for the various online poker brands in the international gambling jurisdictions. Professional poker players credit the industry for taking the competitive circuits to the next level with the new functionality that those software companies have been able to provide in their apps. Among the communities, banking options have always been a topic of major consideration. Bitcoin has been at the foundation of those debates.
This is a guide that has been built to show you how available bitcoin is in the industry. In the sections below we will explain exactly how bitcoin interacts with the industry in various ways. You can use this guide as a personal resource for buying and storing bitcoin, along with transferring to your favorite gambling websites and using them in all the online poker games that you have grown to love over their new digital forms. You will discover the legality involved with online gambling and bitcoin and the details that you need to know to make sure you keep your cryptocurrencies safe and in your own digital wallet.
Only Reputable Bitcoin Poker Sites Listed
All Legally Licensed And Regulated
The bitcoin poker sites that we have included here in this guide have been double and triple checked for legality and regulatory requirements. Each of these sites have been vetted by our team of industry professionals that have over 20 years of experience in the industry. They are all located outside of the United States and hold all the proper licenses required for the services that they provide. Each of these providers make it easy for you to deposit and withdraw bitcoin and encourage their users to use cryptocurrencies in online gambling.
Top Rated Legal Online Poker Sites That Accept Bitcoin
What Is The Legal Status Of Using Bitcoin To Play Online Poker In The US?
Playing online poker in the United States is not illegal despite the various federal laws that have been put in place to regulate the industry. Online poker operators are unable to hold reputable businesses within the US not because it is specifically illegal, but because it has not been made legal. Because most states have not gone out of their way to make this industry legal, the proper tax infrastructure and regulating bodies have not been set. Without proper regulation online poker businesses tend to ail pretty quickly. The entrepreneur who wishes to start a reputable online poker brand then seeks out international gambling jurisdictions that can offer him or her that regulation that they require to reputable business with the worlds largest customer markets.
Common Legal Questions Related To Bitcoin Gambling
Advantages and Disadvantages of using Bitcoin in Online Poker Sites
- Bitcoin has the advantage of being decentralized and not tied to any national government in the world. This means that it cannot be taken from you based on laws set by your government, your bitcoin wallets cannot be frozen like fiat cash accounts, and no countries can place arbitrary fees on the transactions of it.
- Bitcoin enjoys free processing at most online gambling websites that accept bitcoin.
- Bitcoin is completely anonymous. It cannot be traced back to you in anyway.
- The digital nature of the cryptocurrencies allows for them to transferred in and out of online gambling wallets instantly without any delay.
- Bitcoin’s price changes daily. The market volatility means that bettors have to pay close attention to maximize their winnings.
- There is no way to track down lost bitcoin if you have paid for a service and the service was not given. Once you transferred the private keys within that bitcoin, it is gone to you forever.
- Bitcoins can be stolen via hacking the way your wallet can be stolen via theft. This is what it is important to secure your bitcoin in a proper third party ewallet.
How To Play Poker Online Using Bitcoin
- How To Buy Bitcoin - Your first step in acquiring bitcoin is finding an exchange to make your purchase. There are numerous exchanges out there that all trade at roughly the same rates with little to no fees for joining. Once you have found an exchange that you like, you will be able to register and purchase bitcoin and any other cryptocurrencies that they offer.
- How To Get Bitcoin Wallet - Storing smaller amounts of bitcoin in the exchanges where you bought them is not terribly bad but exchanges are big targets for hackers and it is advisable for you to move you bitcoin to safer location. Bitcoin wallets come in all shapes and sizes but the easiest to way to separate them out is by hot and cold storage. Hot storage is a digital wallet that is on the internet that you can access from anywhere you can find WiFi. These are generally safe and offer a good amount of security for your mid-range amounts of bitcoin. They are still connected to the internet, however, which makes them at least that much more vulnerable than the cold storage options. Cold storage options are offline storage options where you can store your private bitcoin keys on USB drives or similar devices that are not connected to the internet and can’t be accessed by hackers. This the recommended option for large amounts of bitcoin.
- How To Transfer Funds To Your online poker Account - Once you have decided on the bitcoin wallet that you would like to store your bitcoin in, you will be given a wallet address where you can use to send and receive bitcoins to your wallet. When you are choosing your deposit options at the online poker room of your choosing, you will be able to provide that address to make the deposit.
- How To Withdraw Your Winnings - In much of the same way you deposited, simply request the withdrawal and provide your wallet address and the bitcoin winnings should be delivered to you instantly.
What You Should Know About Playing Online Poker With Bitcoin
- Are there Bitcoin Bonuses for Poker? There are various bitcoin related bonuses throughout the industry. Bitcoin has been a big part of the industry since the beginning and operators tend to incentivize the use of bitcoin because the price has been in a pretty steady incline since its beginning. If they make money in the form of bitcoin and let it sit, its likely to become more money down the road. That’s a healthy investment for online gambling company.
- What Kinds of Poker Games can I play using Bitcoin? All the games that are usually offered at online poker websites that accept bitcoin. You will have options to play Texas Hold’em, Omaha, Americana, 32 Card Draw, and 3, 5, and 7 card stud. The stakes will vary from high, medium, and low and allow you to play with as much risk as you would like.
- Are there Poker tournaments that I can play in with Bitcoin? Online poker websites that accept bitcoin have tournaments that are scheduled every day. You can enter any of these using bitcoin for a chance to win big prizes like a seat at the World Series of Poker or large lifechanging sums of money in Bitcoin form.
- Can I use bitcoin in the online poker software? The online software that has changed the face of competitive poker has been made to accept all the deposit and withdrawal options that the website it is associated with accepts. That means that if the website you have chosen accepts bitcoin, its software is already set up for the use of the Cryptocurrency.
- Is It Safe Play Online Poker Using Bitcoin? Playing online poker with bitcoin is safer than most options. You will never have to enter in your personal financial banking information and no offshore poker sites will ever have access to you bank accounts. They will only have the information for your digital wallet where your bitcoin us, of which you can have multiple.
Other Popular Bitcoin Gambling Pages Worth Reading
Is Bitcoin Gambling Legal? - Learn all about the legalities of gambling with bitcoin and which sites can be trusted.
Legal Bitcoin Casinos - We rank the most reputable online casinos that accept bitcoin here.
Legal Bitcoin Sports Betting - We review the bitcoin sports betting industry and rank the leading sites that we consider to be the most reputable.