For the most part, the advent of bitcoin in the betting world has been a Godsend. Players from countries that had previously frowned upon online betting have granted unprecedented access to casinos and sportsbook. The use of bitcoin allows bettors to sign up for these sites anonymously, meaning no personal information needs to be disclosed to create a membership – and that includes location. The anonymity of bitcoin is one of the biggest reasons it is such a popular wagering option. Unfortunately that anonymous aspect is also a factor in bitcoin lacking (so far) in one area compared to traditional online casinos and sportsbooks – and that’s bitcoin bonuses.
Top Sites that offer Bitcoin Bonuses
Are Bitcoin Bonuses Available?
To be fair, bitcoin casinos 100% absolutely do offer their patrons a variety of bonuses. In fact, as the popularity of bitcoin memberships grow, the online casino industry becomes more competitive and thus sites need to do anything possible to attract as many users as possible. Low vig on sports bets, free slot spins, and complimentary wagers are one way to attract new members but the best will always be bitcoin bonuses. These deposit matches, loyalty programs, referrals, etc.
Why Were Bitcoin Bonuses Lacking In the Past?
Traditional gambling sites that require a bevy of personal information can be annoying to sign up for but attaching an identification to a member does provide some security for the casino. Most online gambling sites limit an individual to holding only one account. Credit card deposits, bank wires, etc. can be matched at deposit by the casino because they know that the money is going to a sole account holder.
Why does this matter you ask? Well with the anonymous nature of bitcoin memberships there is really nothing to stop someone from opening 20+ personal accounts. With multiple accounts you could be betting against yourself or somehow tilting the odds in your favor which to the ‘house’ is a big no-no. Many bitcoin sites still won’t require personal info to join their site, but they may tie your account to an IP address or have you at least create a membership name. This is a good thing though – because now it means an increase in bitcoin bonuses.
What Are Some Popular Deposit and Withdrawal Bonuses?
The alpha dog of online casino promotions is always going to be the deposit matches. Members love at least the allure of instantly doubling up your money just for funding your account. Most casinos will match 100% of your deposit up to a certain amount so it really is one of the most efficient ways to start building up a bankroll.
One thing that’s very important to remember however is that bitcoin bonuses are not free money. You don’t deposit $500 and then instantly have $1,000 in your bankroll with the ability to withdrawal in minutes on a 200% profit for essentially doing nothing.
Casinos reward your bitcoin bonuses on deposits in two main ways:
- They credit your account with the money instantly and allow you to wager with it, but a certain rollover must be met before the funds can be withdrawn. If they require a 20X rollover for example on a $100 deposit (plus $100 deposit match) you’ll need to bet $4,000 ($200 X 20) before the deposit can be withdrawn.
- The casino hopes that you lose the $200 before you have the ability to roll it over that many times – nothing says you have to lose to recoup the profits however. You could hit a 5-team parlay on your first bet, then let it ride on a single game and hypothetically be eligible to withdraw your bonus on the first day.
- The casino will release your bonus in small increments after certain rollover percentages are met. A 5X rollover on your initial $100 bet would be $500 worth of wagers. After you bet this amount, $25 is credited into your account for example. It may seem like a slow way to recoup your bonus, but the good thing is that once the increments such as the $25 are released into your account, they’re eligible for withdrawals.
Casinos and Bitcoin sportsbooks typically offer these bitcoin bonupokses on initial deposits as a way to entice new members. Quality sites will offer a reload bonus for every time you fund your account however to reward your loyalty…and your losing.
Types of Casino Bitcoin Bonuses
The casino sections of online bitcoin betting sites feature bonuses as well. The deposit match exists, but you’ll have to read the fine print to ensure what games are accepted as part of the rollover process. For example, a casino might not count roulette bets for the rollover because you could essentially bet on both red and black each spin and accrue wagering points without ever really risking your money (until the green double zeros come up).
Playing the slots is a great way to reclaim your deposit bonus. What you’ll find with many bitcoin sites are doing as the industry becomes more competitive is offering no deposit bonuses. This means all you do is sign up for an account and they’ll credit you with legitimately free money to try out their site. They usually require that you do eventually sign up and deposit your own bitcoins before the no deposit bonus can be paid out but it’s a nice gesture to help you explore the different sites out there.
Free slot spins is another popular casino bitcoin bonus. Many sites are offering up to 20 no deposit free spins just for exploring their site. As stated, you’ll always want to read the fine print because it’s not the best business plan for casinos to give away free money to millions of Internet users. That doesn’t mean you can’t actually claim the bonuses eventually – but after you’ve met certain terms.
VIP Bonuses, Referrals Bonuses, and More
We always recommend that you are a member at as many bitcoin casinos as you like, if anything just to take advantage of the different promotions and bitcoin bonuses that they may offer at any given time. That being said, there are some incentives at finding one site and sticking with it. In most cases, the more you wager the more VIP points you can accrue. With VIP points you can have rollover terms lowered, free spin amounts increased, the first opportunity to play new slots and table games, etc. You can also pad your bankroll with referrals. Tell a friend about the site and any amount they wager a percentage will be credited to your account.
There’s ways to make money with bitcoin bonuses out there, and many of them don’t even require that you make a single actual wager to claim them.