How to open your Bit. Coin Casino. How to open your Bit. Coin Casino. Table of contents.
Intro. Being considered just a virtual- world currency and not being legally recognized as a real money currency by any state in the world, gives a lot of freedom to the usage of Bit. Coin and it can prove to be its biggest advantage. Using it as a currency for your casino and accepting deposits only in Bit. Coins can mean that your gaming website can run without requiring a casino license (a casino license costs minimum 2.
In other words, you will never transaction any real money or goods if you are using Bit. Coin as your casino currency. The law governing gambling involves banks, cash and credit card processors. Bitcoin does not use any of those things.
It also does not meet the definition of currency in any of the current laws. Same with linden dollars or gold in world of warcraft, or any other thing that has value, that's not currency. Using Bit. Coins within your casino website would be like allowing people to deposit “Wo.
W” Gold or “Second Life” Linden dollars into your casino and gamble them, which is perfectly legal. Just that Bit. Coin is used for more serious things. The value of Bit. Coins is also not regulated by any authority or by any bank. The entire network influences the price of Bit. Coin, as long as people are still transactioning it. So far its value fluctuated over the price of 1,0.
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USD). Another advantage of using Bit. Coins, for both casino owners and players would be the extreme privacy that Bit. Coin gives. Since this is an untraceable currency, there’s no way for other people to know where the payment comes from. Therefore, third parties can’t access your personal and financial information.
Also no credit card chargebacks or refunds are going to be any of your concerns. Bit. Coin transactions are unrefundable and are not the subject of any chargebacks. With Bit. Coin casinos, the privacy of your players is fully ensured. That is the reason why many people might prefer to exchange their money to Bit. Coins and play at a Bit. Coin casino. Lastly, one of the most attractive benefits you can get from having a Bitcoin casino is the incredibly short waiting time for account deposits and withdrawals.
The account deposits can be automated so that when a player sends money to the Bit. Coin address of your casino, his account will instantly be given the amount equal to the value of Bit. Coins sent, without you having to do anything. Withdrawals can also be automated, after approval, meaning that for each withdrawal request, you will see a pending status in the administrator panel that will require you to verify it (optional) and then click the COMPLETE button. The moment you do that, the funds will be sent to the crypto address provided by the user. The only disadvantage to having a Bit.
Coin casino is that some people might consider buying Bit. Coins a complicated thing, but they are wrong. Purchasing Bit. Coins is just a 2 minute job as it can be seen here: https: //www. U1gc. HPSZEQ. Besides that, there is actually no disadvantage to using Bit. Coins. In this article we discuss only about Bit.
Coin usage. We can help you start an online casino using any coin you prefer. If it's Name. Coin, Lite. Coin, Beta. Coin, Net. Coin, Lotto. Coin, etc. Many of the information from this article applies to the other cryptocurrency coins as well. Here is a list with just a few of the cryptocurrencies that we can integrate: BTC, LTC, ADT, ANC, BQC, CAP, CGB, DGC, DVC, DOGE, FRK, FTC, GLD, IFC, KGC, MEC, NET, NMC, NVC, PPC, QRK, RED, SXC, TRC, WDC, XPM, YAC, ZET, LTCT.
Legality. If you are still unsure about the legality of having a Bit. Coin casino, please read the following article, put together by a journalist from USA, who did a lot of research on this matter, including some interviews with people closer related to the subject of Bit. Coins and its legality: http: //www. You should also read this article that tells about bitcoin legallity in casinos. Quick list of advantages and disadvantages. Advantages. No gambling license required. The cheapest gambling license costs 2.
You will save time and money; Nobody from the law is ever going to stick their nose in your business because you are doing nothing illegal. Having a bitcoin casino is like offering gambling options in an online game such as World of Warcraft, where no money are involved; You don't have to deal with credit- card chargebacks, because bitcoin transactions are non- refundable; Fast and easy growing marketing, due to the low competition among cryptocoin powered casinos; Bit. Coin offers full privacy to you and to your players for every bitcoin transaction. Nobody can track a bitcoin payment! You will be using a currency that is being valued better and better on the exchange market with each day that passes; Many countries from the world, including USA, do not allow online gambling. Using Bit. Coins would allow you to accept players from all over the world, including those countries, since Bit. Coins are not recognized as a real money currency by any central authority, and gambling occurs only when real- money are wagered.
Recently, Bit. Coin casinos have been invaded by players from USA. Bit. Coins are not subject to taxation, meaning that if you receive Bit. Coins you do not need to pay any corporate or income taxes. So if you want to spend your Bit.
Coins on services or online goods that can be bought directly with Bit. Coins, then you will save a good amount of money. However in some states, if you exchange the Bit. Coins to real money, then you will have to pay income taxes and other fees, following your legal obligations. Disadvantages. We can only think of one disadvantage: lack of popularity.
Because not everybody knows what bitcoins are and how they can be purchased, some people might find difficulties in making a bitcoin transaction. However, the bitcoin popularity is increasing and to help your potential players, we can add an explanatory video on your website, so that they can easily view how they can buy bitcoins and use them at your casino. What can you do with Bit. Coins? After you receive the Bit.
Coins from the players, you can exchange the profit of Bit. Coins to real money using any Bit. Coin exchange website such as Vir. Wox or Mt. Gox. You can also exchange your Bit. Coins for Money. Gram or Western Union money, if no other payment options are available within your country.
Except changing them to money, you can buy cars, houses, or even food with Bit. Coins. Recently, many websites accepting Bit. Coins have been launched, mostly due to the no- tax policy that Bit. Coin offers. Any of the above things can be done by your players too, which makes us say that at this moment, probably any sort of goods and services can be bought with bitcoins. The possibilities and benefits of bitcoins are infinite. You can also decide to keep your Bit.
Coins and wait for their price to increase and transaction them at a later date, or use them on other Bit. Coin sites to purchase goods. A video tutorial can be added to your website to help players understand how to obtain or buy Bit.
Coins and complementary to that you can hire a support team to teach every player how to buy Bit. Coins. 5. Bit. Coin Software - Starting a Bit. Coin Casino using our products. Easy management. With our Management Software we have included a set of important features that will allow any bitcoin casino owner to run his website without any trouble. Our software comes with a player affiliate system, meaning that each player can register and play the games, and with the same account he can also act as an affiliate and receive a 2. By using the "AFFILIATE CENTER", the player can generate his affiliate link and he can start reffering new players to the casino. Among other features, we would like to mention the possibility for the casino owner to adjust the HIT FREQUENCY and PAYOUT RATE of the games.
This allows the games to be configured to give big wins, but rarely or small wins, but often. Either way, the player will receive his wins over a determined period of time. A lot more features which are available if you want to start your bitcoin casino, can be seen here. Fast payments. If you decide to buy the Bit. Coin payment add- on (5. EUR), you will be able to accept Bit. Coin payments at any moment and the casino credits will be given to the player automatically after the transaction is confirmed.
Basically you do not need to do anything for players to start playing at your bitcoin casino. The only moment when you must take action is when players request withdrawals. You must verify each withdrawal request and then approve it with the click of a button, from the administrator panel. However if you want, this can be made totally automatic, but we do not recommend it, for security reasons. Provably fair. With our bitcoin casino solution, you can offer your players a trustable and "provably fair" solution, meaning that the gameplay data of each hand played can be tested by each user from his lobby.
He can see if everything was randomly shuffled like in a real casino where the dealer physically takes the package of cards and shuffles it before dealing a new game hand. If the player knows that he was treated correctly he will make a new deposit in the future and will say good words about your casino. All this is done by revealing the hashed shuffled deck before the gameplay starts and then allowing the user to verify the data after the gameplay has finished. Also, when shuffling the deck, the seed used for shuffling is created from a combination of server- side code and client- side code.
This way, the seed used for shuffling the numbers from the deck cannot be manipulated by neither us or by the player. The client seed can be set and changed from provably fair tab.
To guarantee a 1. Fisher- Yates algorithm for actually shuffling the cards.