To understand how Blockchain casino sites work we start at the beginning; After creating an account, loading it with funds, and proceed to place bets and payouts, the transactions are logged into the Bitcoin tech ledger.
The BTC is held on the Blockchain platform securely until when you deposit it as a wager into a Bitcoin Casino. Transferring the deposit takes out the funds from the Blockchain platform, and it will only revert once you withdraw BTC from the casino into your BTC wallet.
Provably Fair Gambling
Blockchain tech uses a cryptographic hash function algorithm to guarantee provably fair gameplay. The algorithm generates an encrypted hash value against the client seeds and the server. Below is a step by step recap of how provably gambling works:
- The Blockchain algorithm generates a random secret seed which the server proceeds to encrypt into a hash code.
- The player is served with the sever’s hashed code.
- The user inserts a random client seed.
- The Blockchain algorithm uses an encrypted function that mixes up both seeds and ends up creating a final result.
- The player is granted access to the server seed for verification purposes.
Provably Fair Bitcoin Casinos
There are multiple ways gamblers can use to check whether the BTC Casino they settle for is provably fair. For starters; users can record both the client seeds and hash function server seeds to verify that the results are generated locally. There are many sites that will let you play for free or you can use a Bitcoin casino no deposit code to get credits to sample the games.
Users can also read different reviews and feedback posted on social media sites, forums and google reviews by punters that have played the casinos they are keen on trying. They can also read and comprehend the explanation provided by the particular bitcoin casino on being provably fair.
How legal is Bitcoin Gambling?
Bitcoin gambling is a legal undertaking, especially where players use fiat currencies such as Euro, USD, and others. Today, Bitcoin is used as a payment mode in BTC casinos; perhaps in the future, these casinos will be subjected to legislation to have them regulated in different jurisdictions across the planet.
Users prefer creating accounts on Bitcoin casinos for anonymous gambling. These casinos don’t bother with personal info and only request punters to issue them with an email ID which they use as a payment gateway for deposits and withdrawals. Soon, however, regulations will be put into place and might demand users insert their info for the platform to be open to more markets around the globe.
US Bitcoin Casinos
There are a plethora of Bitcoin casinos that are friendly to US citizens. They extend gambling services by allowing US gamblers to play using BTC. A quick Google search reveals a lot of BTC casinos that allow US-based users to play. Users are, however, cautioned to check if the Casinos they prefer, comply with US rules and regulations before they rush to create accounts.
There are many great resources to help you find the best legit casinos that are powered by the blockchain. Make sure you do not settle for imitations as you will not benefits from the above mentioned points. Always play for free or use no deposit codes so you can then decide if you wish to risk your BTC gambling at the site or not.