Difference Between Crypto Live Casinos and Regular Live Casinos

In recent times, many gambling companies and players have been gravitating towards online casinos to meet up with the technological advancements in the gambling industry. However, not all online casinos are the same. Traditional casinos offer numerous fiat payment options, including bank transfers and card payments, but revolutionary crypto casinos have Bitcoin and crypto payments integrated into their systems.

Bitcoin casinos are taking the world by storm, and a wide range of gamblers are adopting such online casinos. In this article, we explore some of the significant differences between crypto live casinos and traditional live casinos to help players decide which is better for them.

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best provably fair casinos

What Are Crypto Live Casinos?

Crypto live casinos are casinos that offer gamblers live dealer games with bets placed using cryptocurrencies instead of fiat currencies. At Bitcoin live casinos, players can make deposits and withdrawals using Bitcoin and other popular cryptocurrencies like Ethereum, Tron, etc. 

Interestingly, Bitcoin casinos offer similar games available at traditional casinos. Players will find their favorite games like slots, roulettes, baccarat, table, and live dealer games at these casinos, but cryptocurrencies are the accepted payment methods. 

However, while some Bitcoin live casinos accept only Bitcoin and other cryptocurrencies for deposits and withdrawals, there are also hybrid casinos that accept both fiat and crypto payments.

What Are Traditional Live Casinos?

As the name implies, traditional live casinos are regular casinos that operate using fiat currencies. They offer gamblers a wide range of casino games, including their favorite slots, roulettes, blackjack, and live dealer games, but deposits and withdrawals are done with only traditional currencies. 

Typically, the supported payment methods at traditional casinos are bank transfers, direct bank deposits, debit/credit cards, and digital wallets like Skrill, Neteller, and PayPal. In other words, traditional casinos do not have flexible payments like cryptocurrency casinos and their hybrid counterparts. 

Differences Between Crypto Casinos and Traditional Casinos

To help gamblers determine the right live casino option between a Bitcoin casino and a traditional casino, we touch on their differences below. 

crypto payment gateways Payment Methods

As stated earlier, the most significant difference between Bitcoin live casinos, and traditional live dealer gaming casinos are the payment methods both offer. Bitcoin casinos allow payments using cryptocurrency options like BTC, ETH, XRP, EOS, and others, while traditional casinos only accept fiat payments via cards, bank transfers, and e-wallets. 

It is important to note, however, that there are crypto casinos that accept only Bitcoin as a payment method. So, we recommend that players research and identify the crypto options available to them for deposits and withdrawals before choosing a crypto live casino.

Bittrex features Transaction Processing System

Another major difference between Bitcoin and traditional casinos is their transaction processing model. Usually, regular casinos process transactions using third-party agents like banks, payment gateways, and other financial institutions. These middlemen charge deposit and withdrawal fees for all transactions, making transactions at traditional casinos expensive. 

In comparison, crypto transactions eliminate the need for middlemen since cryptocurrencies are decentralized. As a result, transactions are directly processed on the specific coin’s blockchain, and all you need is a crypto wallet to send and receive funds. Many crypto live casinos charge no deposit or withdrawal fees for Bitcoin and crypto transactions, but network fees may apply – depending on the coin network. 

Kraken exchange Security Security

Security is one of the most important things to consider before choosing a live casino to access live dealer games. Secure casinos have robust measures to protect customers’ data and funds. Usually, in traditional casinos, the security measures include SSL encryption, two-factor authentication (2FA), the know-your-customer (KYC) procedure, etc. With these measures in place, players are protected from loss of funds through hacks and security breaches. However, over time, there have been records of traditional online casinos getting hacked and customers losing funds despite all the security measures in place. Customers’ sensitive data, including bank details and credit card information, can also be stolen if a traditional casino is successfully hacked. 

In contrast, cryptocurrencies are known for being secure because they operate on blockchain technology and are decentralized. As a result, crypto live casinos offer more security because players can have full custody of their funds in a cold wallet. These wallet types are almost impossible to hack, as the malicious actor will need the owners’ private keys to access the funds in the wallet. 

Swissborg is it right for you Transparency

Transparency is another factor that separates crypto live casinos from regular live casinos. Traditional casinos have various tricks and tactics they use to steal money from players. Usually, these operators attract players with the promise of big bonuses and high winnings, but they do not fulfill the promises. Some traditional casinos also tweak the system so that the odds are stacked against players, and the casinos can make more profit. 

However, with Bitcoin live casinos, casino operators cannot hide any information from players because all transactions are transparently added to the blockchain for everyone to see. As such, players will notice any unscrupulous changes made by casino providers if they operate using blockchain technology. 

provably-fair games Game Fairness

Another distinction between traditional and crypto live dealer casinos is their game fairness. Usually, traditional casinos have ways of manipulating the system such that results from slots and other games are in their favor. With this crooked tactic, unsuspecting gamblers will record more losses than winnings at these casinos. 

On the other hand, live crypto casinos use fair algorithms based on blockchain technology. As a result, players at Bitcoin casinos have a fairer winning chance because cryptocurrency eliminates any chance of manipulation. 

In addition, crypto casinos offer a house edge between 0.5% and 2% for their games, which increases players’ odds of winning. This is a better deal compared to what is obtainable from regular bookmakers, which are limited to a house margin of 3%-15% instead of a more favorable house edge.

Bitcoin dice games Game Variety

To attract more players, Bitcoin live casinos offer a more extensive gaming library than regular live casinos. The games include high-quality games like slots, roulettes, baccarat, blackjacks, and live dealer games. With these gaming options, players can enjoy all their favorite games in one place. 

In addition, the games at crypto casinos come with high payouts. For instance, there are Bitcoin casinos offering players up to 99% return to player (RTP). With this, gamblers can make more money while playing the same games available at traditional casinos.

Reputation plus Security dappGambl Convenience

Cryptocurrency transactions are safer and more convenient than fiat transactions because they are directly processed on blockchains and devoid of bank network errors or payment processing issues – which are prominent in traditional transactions. 

As such, playing live dealer games at crypto live casinos offers users more convenience because gamblers are not required to go through the rigorous process of filling out personal information and bank details to process transactions. They only need a cryptocurrency wallet to deposit and withdraw funds from their casino accounts. 

At the same time, crypto casinos can be accessed anywhere in the world, so individuals in countries where gambling is restricted can easily play games at these casinos. That way, they can fund their accounts and withdraw funds without limitations, as cryptocurrencies are not controlled by the government. 

anonymous gambling Financial Anonymity

As stated earlier, cryptocurrencies are decentralized, so users have financial autonomy, as they can decide what happens to their funds without any laws or regulations prohibiting them. For example, in some traditional casinos, there are deposit and withdrawal limits that prevent players from withdrawing all their winnings, but in many crypto casinos, these limitations are absent. 

Similarly, the associated fees and taxes that come with playing with fiat money at online casinos can be avoided using cryptocurrencies. For example, foreign transaction fees are levied on funds withdrawn from online casinos into a foreign bank account. But with Bitcoin and other cryptocurrencies, there are no such fees.

Conclusion

Online casinos are revolutionalizing the gambling industry, but these casinos differ from each other. In this article, we have highlighted the significant differences between crypto live casinos vs regular live casinos to help players understand the benefits and downsides of each option. 

Bitcoin casinos are more suitable for crypto enthusiasts and tech-savvy gamblers looking for ways to access bigger winnings from a more extensive gaming library of slots, roulettes, blackjack, live dealer games, and more. On the other hand, regular casinos are best suited to players who prefer to bet with fiat money for real winning. 

Whatever the case may be, we recommend that you do your own research and determine which casino type is perfect for you before playing at any of the online casinos.

Maryam
Written by Maryam Jinadu verified symbol Fintech and Crypto Writer
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Maryam Jinadu is a freelance igaming & crypto writer.

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Reviewed and Fact Checked by Will Wood , Crypto Gambling Expert