Bitcoin is one of the fastest-growing payment methods in the online gambling sector. It’s grown from an obscure option overshadowed by the rarest of web wallets to one of the safest, easiest, and most convenient ways to process deposits and withdrawals.
Bitcoin gamblers not only prioritize safety, speed, and anonymity, but they also tend to gamble more money than their credit/debit card and web wallet counterparts. This is why many Bitcoin-online casinos and hybrid casinos have launched extensive loyalty programs and VIP rewards, giving those high-rollers more incentive to keep making big deposits and spending big bucks.
If you use Bitcoin casinos and you often gamble in the hundreds or thousands of dollars, then this article is for you. We’ll take a closer look at Bitcoin VIP casinos and Bitcoin gambling for high-rollers in general, showing you a side of the iGaming sector that you may have overlooked thus far.
How Does Bitcoin Gambling Work?
Bitcoin casino gambling works just like any other form of real money gambling. Of course, a single Bitcoin is worth thousands of dollars (although considering how volatile this currency is, that could change by the time we publish this guide!) so you can’t gamble with them like you would dollars.
To get around this issue, Bitcoin casinos will do one of three things:
• Convert to mBTCs: An mBTC is to Bitcoins what cents are to dollars. A single Bitcoin can be converted into 1,000 mBTCs.
• Convert to a Currency: Some sites will convert Bitcoins to a currency like USD or EUR, with the exchange based on the exchange rate at that time.
• Convert to Credits: Although rare, the site may have their own casino credits and all Bitcoin deposits will be converted into these credits.
Legality of High Roller Bitcoin Casinos
Bitcoins have earned an undeserved reputation for being somewhat shady. This is due to the fact they are the currency of choice for hackers, scammers, and dark web marketplaces. However, just because something is preferred by criminals doesn’t make it criminal in itself.
It was a similar story with Western Union a number of years ago. It happened with PayPal (and to an extent it continues happening with PayPal) and we’ve also seen it with sites like Craigslist.
Are any of these sites scams? Of course not, but because they are accessible, easy-to-use and provide more benefits than competing services, they are used by criminals.
The inclusion of Bitcoin on an online casino is not a confirmation or denial of legitimacy. Instead, focus on where the casino is located and regulated, as well as where you are located. These are the things that determine the legitimacy of an online casino.
The Limits on Bitcoin Casinos
There aren’t as many limits on Bitcoin casinos as there are on other casinos because there are no complications. If you were to make a payment of $20,000 to a bank account or PayPal account, you’re probably going to raise some suspicions.
Your account or the recipient’s account may be suspended pending an investigation; at the very least you will likely be flagged for additional security checks. If you do the same with Bitcoins, no one cares and everything goes through smoothly.
Are Bitcoin Casinos Safe?
Bitcoin casinos are like any other casino—they can be safe if they are legitimate, but it’s on you to find out if that’s the case or not.
The only issue with Bitcoin casinos is that it’s easier for a scam project to establish a Bitcoin casino than it is for them to establish a credit card casino. The former only requires a free wallet—the latter requires all kinds of verifications and checks.
Of course, a legitimate Bitcoin will have much more than a simple wallet and will also employ advanced SSLs and other tech, so be sure to keep an eye out for this.
Bitcoin Casinos for High Rollers
Not sure how a high roller Bitcoin casino differs from a standard one, or even from a credit/debit card casino? Here is a quick rundown of some pros and cons.
• Huge limits
• No payment fees
• Lots of VIP extras
• Stacks of loyalty bonuses
• Be treated like royalty
• Very little recourse if anything goes wrong or a deposit goes awry
• Harder to find a good one • All deposits/withdrawals are limited to Bitcoins
How to Get High Roller Bitcoin Casino Bonuses
There are very few casinos (if any) that are tailored exclusively to high rollers. This is as true of Bitcoin casinos as it is any other type of casino.
A high roller casino is simply one that doesn’t have the sort of limits you’ll find on other casinos, as well as one that has lots of VIP bonuses and is willing to go the extra mile for their biggest players.
You’ll find the bonuses on the casino’s Promotions page, and as is the case with all other types of online casino, you need to look for a generous Welcome Bonus in addition to a VIP program.
However, if you really want to bet big, so much so that a bonus of a few hundred dollars is meaningless to you, then you should contact the casino first. Tell them how much you would like to deposit and ask them what sort of bonus they can offer you.
To an online casino, a high roller who gamblers thousands of dollars a day is incredibly valuable and worth more than a hundred other players. They should do what they can to convince you to gamble with them. And if they don’t, thank them and tell them that you’ll look elsewhere.
A high roller is a huge commodity, especially on a Bitcoin casino, so don’t stop until you find a site that appreciates you.
How to Find the Best High Roller Bitcoin Casino
If you’re on the lookout for the best high roller Bitcoin casino, keep all of the following in mind. These are the questions you need to ask yourself to determine if a casino is legitimate, fair, and offers you everything that you need.
Who Licenses the Casino?
A legitimate casino should be regulated by a gaming authority. There are many of these around the world, but the biggest are in Europe, including Malta, Alderney, and Gibraltar.
These licensors make it possible for a casino to operate across multiple European countries. If it’s licensed in the UK, Sweden, or Canada, they will also need to be regulated in that specific region.
You can find details of the regulator at the bottom of the homepage or on the About Us page. There should be a hyperlinked logo—click it, check the license number and confirm that it’s legitimate.
Is it Audited?
An audit is not essential, but it helps to verify the legitimacy of a casino and is important for a high roller casino.
An auditor basically performs a check on the casino’s games and payment options and confirms that they are as safe and fair as they claim. You can find this information on the bottom of the main page.
The main regulator used by the casino industry is eCogra, so look for their stamp. You should be able to click the stamp and see the audit report.
What Games do They Provide?
Many developers work closely with auditors to ensure that everything they release is safe and fair. However, there are a few bad apples in the bunch.
RealTime Gaming (RTG), for example, has a bad reputation. They are a legitimate provider, but they allow their licensors (the casinos) to tweak the payouts of the games they load onto their site.
This means that RTG games work like old school pub slot machines, which were notorious for being rigged by pub managers.
Even worse are the games created by the casinos. These are even more notorious than RTG titles and have been linked to some of the biggest online gambling scandals in the world, including games that claimed to offer great payouts but were actually very poor and amounted to little more than a scam.
What are the Bonus Terms?
The bonus may look great on the surface, but you should always read the small print to make sure the terms back up the claims. A lot of bonuses will make grand claims, like offering you hundreds of dollars in free cash, only to insist on a high wagering requirement and place a limit on how much real money can be won or withdrawn.
One of the biggest disappointments with regards to bonuses are Free Spins. These are often stacked high to entice players of all levels, but they hide the terms deep in the small print because Free Spins are very rarely as good as they sound.
The average Free Spin has a value of just $0.10. This means that 100 Free Spins have a value of just $10. If you’re offered 1,000 Free Spins you might get excited and it could be enough to convince you to join, but if those spins have a value of just $0.10, that’s just $100.
What’s more, Free Spins often have maximum win limits and maximum withdrawal limits. The worst kind of Free Spin offer, but also the most common, is one that prevents you from winning any jackpot. What’s the point of having 1,000 Free Spins if you can’t use them to take 1,000 stabs at a progressive jackpot?
Always check the bonus terms so that you’re never disappointed and don’t feel ripped off further down the line.
Do They Have a VIP Program?
A VIP program is essential for a high roller as it gives them a reason to stick around when the Welcome Bonus has gone and it provides an incentive for them to deposit big and play often.
A VIP program gives you points every time you play. These points can then be converted into cash, credits or prizes. The more you bet, the more points you get. A good loyalty program is one that offers a multi-tiered setup, so that frequent play is rewarded more than occasional play and high rollers can earn points at a greater rate than other players.
It should also include your own personal VIP manager for the higher levels, as well as VIP prizes, such as tickets to sporting events. You should never bet money just to gain VIP points, but it’s always nice to receive a cash boost or some expensive prizes after an extended session on the slots or the tables.
These programs are how online casinos compete with the rebates and perks offered by land-based casinos. If your chosen casino doesn’t have one, they don’t deserve your money and it’s time to look elsewhere.
Do They Have Good Support?
Finally, it’s essential for your chosen high roller Bitcoin casino to have good support. The support team should be accessible by phone as well as Live Chat; it should be staffed by people who speak your language and respond quickly.
These days, many online casinos rely entirely on Live Chat or Support Tickets. These can be very frustrating to deal with if you have an issue that requires immediate assistance. And if you’re a high roller spending huge sums of money, you want to know that your issue can be dealt with quickly by a real human.
Bitcoins have created endless opportunities and one of the most exciting is in the online gambling sector. This digital currency is practically untraceable, you can deposit and withdraw instantly, and there are zero fees. It is everything that a payment method should be but everything that other methods aren’t.
If you’re gambling thousands of dollars a week, a Bitcoin casino could save you a fortune in fees and you won’t need to wait 3 to 5 days to get your money. You can also avoid all the paranoia and additional checks/waits that typically go along with high-stakes gambling.
If you want the best experience as a high roller, Bitcoin casinos are the answer.