You’re probably wondering what the difference between a decentralized online casino and a cryptocurrency casino is, right? After all, cryptocurrencies are decentralized, so shouldn’t all crypto casinos be decentralized casinos? Well, oddly enough – no. It doesn’t quite work that way. While all decentralized casinos accept cryptocurrencies, not all crypto casinos are necessarily decentralized ones. We understand that this may still be confusing for you, but that’s what we are here to help with.
First and foremost, there is a distinction between cryptocurrency casinos and decentralized casinos. At its most basic, a cryptocurrency casino can accept deposits made using Bitcoin, Ethereum, and Tether; you name it. Each cryptocurrency betting site will have its own array of cryptos that it accepts, and you can definitely use those to deposit into your account and withdraw. However, that doesn’t necessarily mean that you can actively claim crypto bonuses, let alone wager using cryptocurrencies.
A decentralized casino also accepts Bitcoin and its counterparts as deposit and withdrawal methods. However, whereas a typical crypto casino may still accept FIAT currencies, a decentralized casino will not. In fact, any bonuses and promotions you find will only be available to claim using cryptocurrencies. Moreover, any of the games supported will also only be available to play using whatever cryptocurrencies are accepted at the site.
This can have consequences. For instance, because decentralized casinos only support cryptocurrencies for everything, you may not be required to go through a KYC process at the site. Furthermore, you may find that the casino is littered with in-house, crypto-specialist games, either alongside conventional casino titles that accept crypto stakes or instead of them.
None of this explains how decentralized casinos get their name, though. Let’s move on and explain that next.
Decentralized casinos, by definition, mean that the betting site in question is not attached to any particular body. This may mean licensing bodies, regulatory authorities, and, of course, national gambling laws. Therefore, decentralized casinos are typically open to everyone, anywhere. Ordinarily, this would lead to players questioning how they can trust such sites to ensure fair play. Fortunately, there are ways for decentralized gambling sites to go about this. A Provably Fair hallmark showcases that crypto games have been checked and vetted for fair play, for instance.
There are a couple of reasons why you might consider joining decentralized cryptocurrency casinos. Of course, there is the added anonymity that the blockchain brings, but there are also other key reasons, as we’ve touched on above. These include:
Decentralized casinos only permit wagers using cryptocurrencies. This means that the site won’t convert your deposit into a FIAT option for gameplay. In short, if you can find a game at the decentralized casino in question, you’re guaranteed to be able to stake bets using whatever crypto is accepted there.
Much like wagering, decentralized casinos also only permit bonuses and promotions to be claimed using any cryptocurrencies they accept. This makes it easier for you to get a handle on the bonuses you’ll receive and any wagering requirements attached to them, as you won’t see your bonus “converted”. Furthermore, decentralized casinos are more likely to have crypto-specific offers, such as faucet bonuses.
Not everything is rosy at decentralized casinos. When you choose to play at these sites, you may encounter one or two hiccups. We’ve highlighted the main ones for you below, and these include:
Because anonymity is king when it comes to the blockchain, a decentralized casino may (or may not) skip over the KYC process. While some players find KYC processes invasive (especially those playing in countries where gambling online is illegal), there are perks to the feature – for instance, it protects against money laundering and identity fraud.
If you’re new to the whole Bitcoin betting craze, it takes a bit of time to get up to speed with what you can wager on and how the value of cryptocurrencies works. They are volatile, after all. At a typical crypto casino, you can ease yourself in by depositing with FIAT and gradually shifting to cryptos or by depositing with cryptos and having those deposits converted into FIAT for gameplay. That won’t happen at decentralized casinos, so it is a steep learning curve.
Now that you know a bit about decentralized casinos, you may be ready to join one. If so, scroll up to find our top list of recommended decentralized betting sites, and head over there to read reviews for each one of them to learn why we recommend them to you today.
They can be, but not always. Being licensed would mean adhering to the rules of a body or authority, and most decentralized sites won’t do that. However, there are some out there that are licensed out of Curacao.
Our recommended decentralized casinos are fair. Each has its games RNG certified as fair or boasts the Provably Fair hallmark to ensure that they are tested and deemed acceptable.
That depends on where you play. Some developers have made their games crypto-friendly, so those games are possibilities. You’ll find a whole bunch of in-house decentralized games, too, though.
Again, this will vary from site to site. Some decentralized casinos have no qualms about offering sports betting alongside casino games.
Once more, this will vary. Almost all sites will accept BTC and ETH, but some use in-house tokens, and others have a much broader array of cryptocurrencies, including some obscure and relatively unknown ones.