How Does Crypto Poker Work?
Crypto Poker developed in response to the growing number of players using and owning cryptocurrencies. The use of Cryptocurrencies in poker comes as a result of more people choosing to stay anonymous while playing the game they love. Thus, crypto poker works similarly to traditional poker, the only difference being users are depositing cryptocurrencies rather than FIAT currency, as the need for privacy has increased in recent years.
Why Should You Play Online Poker That Supports Cryptocurrencies?
Regular poker sites are still the main focus, however, crypto poker sites are beginning to draw the attention of beginners and professionals. Even though both centralized and decentralized poker websites have their perks, why should you focus on the later rather than the standard way of playing the king of cards? Here are some reasons.
Accessibility
Online poker sites that use fiat currency are plagued with issues of accessibility. This is due to the legal gambling restriction placed on players by their country. However, online Crypto Poker sites allow players to anonymize their crypto account and play poker cash or tournaments without restrictions.
Anonymity
The importance of anonymity can not be overemphasized. Players worldwide agree that their favourite crypto games are better enjoyed when there isn’t a third party monitoring what they do. Anonymity is even more critical in poker. With Crypto Poker, a player needs an e-wallet and private keys. When a player has these things, they can quickly transfer digital currency. Indeed, anonymous transactions can’t be easily linked to the account holder. But the blockchain gives players an extra layer of security.
Lower Fees
Lower fees are one of the main reasons why players would make the switch since deposits are cheaper as there are no transaction fees. By playing crypto poker, you can easily secure a spot at a table. Sure there is a slight waiting time, but once you make the deposit your seat is secure. By spending less on transaction fees, you actually have more to bet and win that pot!
Easier Games
Poker is a game that requires extensive strategy and the ability to read people. With high-stakes players playing on established poker platforms, crypto poker platforms have a mix of new and established players and this could give you a solid advantage if you know just a few tips on how to best manage your game and gives you a greater chance of winning.
Provably Fair
Provably fair games result from the blockchain, the same thing cryptocurrency operates on and it implies that a testable algorithm ensures that its outcomes are honest and verifiable. On crypto poker websites, the odds are genuinely random and gives each player an equal opportunity to prove their poker prowess. Regular online poker gives an illusion of fairness. Although these sites might have computer-generated results, the results aren’t provably fair. Because of this factor, a lot of luck is involved in winning these games.
What Are the Risks of Playing Cryptocurrency Poker?
From the above, it is clear that Crypto Poker is beneficial. However, nothing rewarding is without risks, and cryptocurrency poker is no different. Therefore, it is up to players to examine the risk and rewards of it and make an informed decision. Here are the risks associated with it:
High Volatility
A side effect of cryptocurrency’s decentralized nature is its volatility. The value of cryptocurrencies fluctuates and depends on various factors. Price changes could affect players because their winnings might be devalued. However, this could also be tilted in favour of the player. There is also the likely scenario that their coins increase in value.
Irreversible transaction
In a centralized system, a transaction can be undone. This is because there is a third party between transacting parties who oversees all transactions and can reverse a transaction if necessary. However, with cryptocurrency, there is no third-party interference, and the blockchain can not perform this function. As such, any transaction is final, and when tokens are sent to the poker website, they are irreversible. This left players with no room for error when making deposits.
Best Crypto Poker Sites - Full List
For the best gaming experience, players must choose the best crypto site. There are heaps of crypto casinos to choose from, however, choosing the best one might not be the easiest task. So, we’ve created a list of the best crypto poker casinos to get you on the right path!
Top 3 Bitcoin Poker Sites Compared
BetOnline
Since its creation in 1991, BetOnline has not only met but also surpassed the expectations of players. The company can pull this off because of its repertoire’s great features. For example, BetOnline provides one of the smoothest payment processes of all Crypto Poker sites. On the site, players can purchase cryptocurrency with their debit cards. And if there the player has no wallet at the time, BetOnline suggests wallets for them to use. If a player ever gets confused at any point, BetOnline has a great guide to help users through the process of buying, storing, and depositing crypto on the site.
In addition to this, BetOnline also gives users engaging tournaments in several games that they have available on their site, including poker, of course. BetOnline is also known for the generous bonuses that they give to players. Every new player gets a welcome bonus, and as these users continue using the website, they are given a loyalty bonus.
The only con with BetOnline is that the only cryptocurrency it accepts is Bitcoin. Unfortunately, this means that players who use Dash, Monero, Zcash, Dogecoin, Tron, IOTA, Litecoin, Tezos, or any other altcoins will not be able to use this platform.
Ignition Casino
Ignition Casino is one of the best places for players to play poker. It has been a top choice for Crypto Poker players for a while now. The reason for its top choice status becomes apparent when looking at all the cool features of Ignition Casino. Ignition Casino is unmatched when it comes to video poker. Ignition Casino has a large selection of 1, 3, and 10-hand games. Ignition Casino even caters to new poker players. The website summarizes the rules of poker, tips and strategies for playing the game, and even instructions on deposits and withdrawals. On top of all this, Ignition Casino has the option of a practice mode. With this, players can put the things they learn into practice without running the risk of losing money. This is where Ignition Casino towers over BetOnline.
Ignition Casino has engaging leaderboards. The leaderboards have different requirements. A player can choose to hone in on a particular board and strive to be at the top of it. With so many separate leaderboards, there is always competition for players.
Sadly just like BetOnline, the only cryptocurrency Ignition Casino allows is Bitcoin.
Bovada
Created in 2021, Bovada is one of the youngest Crypto Poker platforms around. But don’t assume this young Crypto Poker website isn’t capable. On the contrary, it is one of the best Crypto Poker platforms around.
Right off the bat, Bovada is more accessible than the last two Crypto Poker sites because it allows all cryptocurrencies. Bovada is accessible in other areas as well. Bovada has one of the best mobile gaming experiences of all the Crypto Poker sites. Bovada also has competitive poker tournaments every day, and it runs 24/7. Bovada is a poker player’s haven. With the generous bonuses, Bovada gives, players would have even more to bet with. Bovada seems to be without flaws.
The only thing that might be an issue is the pricey charge for deposits made with credit cards.
What is the House Edge in Cryptocurrency Poker?
The house edge is the mathematical advantage casino owners have over the players. When a game is played in a casino, the players intend to win more than they gamble, but the house also has to protect its interests. This is why we have a house edge.
The house edge in regular poker is relatively high, but thanks to the blockchain, the degree of the house edge in Crypto Poker is much lower than in regular poker. Crypto Poker can have a reduced house edge because of the blockchain’s benefits.
How to Start Playing on Legal Bitcoin Poker Sites?
Crypto Poker is fast becoming the most popular way to play poker online. For players who would want to start their journey, we have a step-by-step cryptocurrency Poker Guide:
Register on an Exchange
The first step in playing Crypto Poker would be to purchase some cryptocurrency. But before this is done, a player must first find and sign up for an exchange. An exchange is a place where people can buy and sell crypto. When choosing an exchange, players must select one legal in their country. The registration process is intuitive; players must submit basic information like a copy of their identification and phone number.
Buy Crypto
Players can buy whatever cryptocurrency they prefer. But when purchasing crypto, players must do a bit of research into the digital currency they want to purchase. This is to make sure they make an informed decision. Also, players must research the accepted cryptocurrencies on the Crypto Poker site.
Get a Crypto Wallet
A crypto wallet is where the cryptocurrency is stored. Players can choose to get hardware wallets or digital wallets. A hardware wallet is harder to hack into because most of the assets are offline, but a digital one is more accessible.
Transfer your Crypto to your Wallet
To transfer crypto, all players must do is enter their wallet address into the exchange’s form. Some exchanges even have a QR code option to make transfers easier.
Create a Crypto Poker Account
Ideally, this has been researched earlier to ensure comparability with the players’ digital currency. If the Crypto Poker site does not accept the crypto bought, a player must find one that accepts it or buy a compatible cryptocurrency.
Send Bitcoin to a Crypto Poker Account and Start Playing
A player just has to copy the crypto address of the Crypto Poker site. Then the player must paste this address into his chosen crypto wallet, input the amount to be withdrawn, and click send. Players would typically have to wait 15 minutes for the transaction to be completed.
What is the Best Cryptocurrency for Poker?
A player can select from a range of cryptocurrencies to play poker with, but it all depends on what’s available to deposit. Most Crypto Poker websites accept all the Top 10 cryptocurrencies, including Bitcoin, Litecoin, or Ethereum. As crypto deposits are converted into their dollar denominator, it’s always best to select tokens with a low network fee that does not impact your overall deposit value.
Bitcoin: Players seem to gravitate toward playing poker with Bitcoin. This is because several Crypto Poker sites only accept Bitcoin. These sites often have good features, and players seem to enjoy them. However, these sites are also quite limiting because not all crypto holders can play on them.
Ethereum: Ethereum is a popular currency. It is used worldwide. People use it to play Crypto Poker because of its smart contracts. This allows for near-instantaneous processing of the payout of winnings after a game is won.
Ripple: Ripple is fast becoming one of the most trusted cryptocurrencies to play poker with.
Bitcoin Cash: Many Crypto Poker players for the profit it brings through speculative investments.
Cardano: Players use Cardano because of its affordability. It has low and, in some instances, non-existent taxes.
Solana: Solana is slowly becoming a top Crypto Poker cryptocurrency. Solana functions the same as other cryptocurrencies. However, players get benefits because of the blockchain.
Beginner's Guide to Crypto Poker - How is Poker Played?
Players who are new to Crypto Poker would need to learn some things. These would give them a better insight into the game and, most importantly, teach them how to win a game. Here are a few things beginners need to know:
What are the rules of poker?
Poker is a game of strategy. The game’s goal is to get the best hand of all the players by pairing different cards and beating your opponent in a showdown or by making them fold. The most famous game of poker is No-Limit Texas Holdem, but there are more variations out there as well.
Different Poker Games
All poker games fall into three categories. A game could be draw poker, stud poker, or community card poker. In draw poker, players draw cards that are hidden from others. Stud poker involves being given a mixture of hidden and exposed cards. In community cards, poker players are dealt hidden cards used with the community cards to form a good hand. Here is a list of popular poker games across all categories:
- Omaha High
- Texas Hold ’em
- Omaha Hi/Lo
- Seven Card Stud
- Razz
- Five Card Draw
- Badugi
- Deuce to Seven Triple Draw
- Let It Ride Poker
- 5-Card Omaha
Virtual Or Live Dealer?
A virtual dealer is a poker game played in the virtual/digital space. This type of poker can be played on any device. In contrast, a live dealer is a game of poker played in a physical space. For example, Crypto Poker is played in the digital space and is a virtual dealer.
Available Tournaments
Players in search of winning some more can take advantage of the tournaments that casinos offer. Crypto Poker sites have a variety of tournaments. First, players must decide how long they want to play in a tournament and their budget. There are daily tournaments, weekly tournaments, monthly tournaments, and even tournaments that last for a few days, but those tournaments are targeted toward more high-stakes players.
Quick Seats
As the name suggests, the quick seat is a service that lets players quickly get seats in poker games. Many Crypto Poker sites offer this service. Usually, the most tasking part is picking out the best game. Then, all that’s left is to make a few clicks, and the player would be in a poker game. Players love the feature.
Incognito Poker
Privacy is a cherished thing in the world of Crypto Poker and poker generally. The anonymity that it offers to players helps them better concentrate on the game and shields them from prying eyes. However, players should note that anonymity works both ways. If a player chooses to be anonymous, other players wouldn’t be able to see them; they also wouldn’t be able to see other players.
Bonuses
It is common practice for Crypto Poker websites to offer generous bonuses at every step of a player’s journey to becoming a skilled poker player. First, there are welcome bonuses that are given to new players. Then referral bonuses are given when layers refer to the site. Finally, there are bonuses for depositing a certain amount; honestly, the list goes on and on.
What deposit and withdrawal options are available for cryptocurrency poker?
Most Crypto Poker websites accept credit cards and crypto wallets for deposits and withdrawals. What happens when a new player comes in but has no idea how to set up a crypto stash? Well, some of these websites offer a limited crypto exchange service. This aids new players and gives experienced players a quick way to fund their accounts.
Budget
Players need to make a budget for the ease of registering and playing Crypto Poker. When players satisfy their thirst for gambling, they quickly drink too much and lose track of their losses. Therefore, players should set up a bankroll and stick within their means to ensure they can keep track of their win/loss ratio.
What is the rake in cryptocurrency poker?
A rake is a fee typically paid to the online service provider. This is also what happens in regular poker. A fee is paid for playing the poker table. The rake in Crypto Poker is considerably cheaper than in regular poker. The decentralized nature of crypto makes fees like the rake more affordable.
Mobility
The accessibility that cryptocurrency gives goes an extra step with mobility. Players can play their favourite poker games on the go. These poker games can be played on any mobile device that is web enabled. This gives players more control over their games and is not country restrictive.
Customer Support
The goal of an efficient Crypto Poker site is for its users never to need to reach out to customer support. Sadly, there is no perfect system. Customer support is a safety net that all these sites put in place to fix any system bugs. The number one purpose of customer support is to ensure every player’s problem is resolved.
What Are Some of the Strategies for Winning at Poker?
Poker is an odds strategy, and the best players follow specific patterns to minimize their losses and maximize their winning with whichever hand they are dealt. There are a lot of strategies, but we will cover only a few to give you a glimpse into what you can improve in your game.
What Are Some Of The Common Mistakes Made By Poker Players?
Experienced poker players can spot mistakes from a mile away and quickly identify if you are a fish or a solid player. While some mistakes might not seem too obvious, opponents can quickly pick up on them and outsmart you in any game. Here are a few mistakes that poker players often make:
FAQ
Yes, generally speaking. Poker sites that accept crypto are legal. Sadly some countries banned crypto, and here are others that have banned online poker. So using a poker site that accepts crypto is legal except in states where crypto or online poker is banned.
There are several advantages to using crypto for online poker. These are privacy, bonuses, lower house edge, and cheaper transaction fees.
Picking the best Crypto Poker site is a Herculean task, but here are three top-rated Crypto Poker sites: Bovada, BetOnline, and Ignition casino.
They love the accessibility. The lower fees, easier games, anonymity, and provably fair games make Crypto Poker an excellent option for online poker lovers.
Cryptocurrency poker is legal in every country as long as you can buy and sell crypto.
Reviewed and Fact Checked by Will Wood , Crypto Gambling Expert