Introduction: With the increasing popularity of online casinos, players now have the option to choose between fiat online casinos and bitcoin casinos. These two types of platforms have their unique features and technologies that cater to different player preferences. In this comprehensive guide, we will compare fiat online casinos and bitcoin casinos, exploring the technology behind each platform and highlighting their pros and cons. So, if you’re curious about the differences between these two types of online casinos, read on!
Comparison Table: Fiat Online Casino vs Bitcoin Casino
| Feature | Fiat Online Casino | Bitcoin Casino |
|---|---|---|
| Technology | Traditional payment methods such as credit cards, e-wallets, and bank transfers | Blockchain technology for processing transactions with bitcoin or other cryptocurrencies |
| Regulation | Regulated by established authorities such as UK Gambling Commission, Malta Gaming Authority, etc. | Not regulated by traditional authorities |
| Privacy | Transactions can be traced and monitored by financial institutions and governments | Transactions are anonymous and not traceable |
| Transaction Fees | Higher transaction fees compared to bitcoin casinos | Lower transaction fees compared to fiat online casinos |
| Transaction Speed | Real-time or slight delay depending on the payment method used | Instant transactions using blockchain technology |
| Acceptance | Wide acceptance among players as they accept standard currencies | Limited acceptance among players as not all players may be familiar with bitcoin or other cryptocurrencies |
| Security | Established financial systems for transaction processing | Decentralized and transparent nature of blockchain technology |
| Volatility | No impact on the value of deposits and withdrawals | Volatility of bitcoin and other cryptocurrencies may affect the value of deposits and withdrawals |
| Regulation Source | “What is a Fiat Casino and How Does it Work?” by Casino.org: [link: https://www.casino.org/blog/what-is-a-fiat-casino-and-how-does-it-work/] | “How Bitcoin Casinos Work: the Ultimate Guide” by Bitcoin.com: [link: https://news.bitcoin.com/how-bitcoin-casinos-work-the-ultimate-guide/] |
Note: It’s important to keep in mind that regulations and technologies related to fiat online casinos and bitcoin casinos may vary depending on the country or jurisdiction in which they operate. It’s recommended to check the specific regulations and technologies of each platform before engaging in online gambling.
Technology Behind Fiat Online Casinos: Fiat online casinos are traditional online casinos that accept standard currencies like USD, EUR, and GBP. These casinos have been in operation for many years and are regulated by various authorities, such as the UK Gambling Commission and the Malta Gaming Authority.
The technology behind fiat online casinos is based on traditional payment methods, such as credit cards, e-wallets, and bank transfers. These payment methods are processed through established financial institutions, and transactions are usually processed in real-time or with a slight delay depending on the payment method used.
One of the main advantages of the technology used in fiat online casinos is its wide acceptance among players. Players can easily deposit and withdraw money using their preferred payment method, and transactions are processed through established financial systems that are trusted by many.
Relevant source: “What is a Fiat Casino and How Does it Work?” by Casino.org: [link: https://www.casino.org/blog/what-is-a-fiat-casino-and-how-does-it-work/]
Pros of Fiat Online Casinos:
- Wide acceptance among players, as they accept standard currencies.
- Regulated by established authorities, ensuring player protection and security.
- Familiar payment methods, making it easy for players to deposit and withdraw funds.
- Established financial systems for transaction processing, providing reliability and convenience.
Cons of Fiat Online Casinos:
- Limited privacy, as transactions can be traced and monitored by financial institutions and governments.
- Higher transaction fees compared to bitcoin casinos.
- Slower transaction processing times, depending on the payment method used.
Technology Behind Bitcoin Casinos: Bitcoin casinos, on the other hand, are online casinos that exclusively accept bitcoin or other cryptocurrencies. These casinos have gained popularity in recent years due to the rise of bitcoin and the increasing demand for online gambling platforms that offer greater privacy and security.
The technology behind bitcoin casinos is based on blockchain technology, which is a decentralized and distributed ledger that records all transactions made with bitcoin. Transactions are processed through a network of computers called nodes, and once a transaction is recorded on the blockchain, it cannot be altered or deleted, providing transparency and security.
One of the main advantages of the technology used in bitcoin casinos is the high level of privacy it offers. Bitcoin transactions are anonymous, and players can deposit and withdraw money without revealing their personal information or financial details.
Relevant source: “How Bitcoin Casinos Work: the Ultimate Guide” by Bitcoin.com: [link: https://news.bitcoin.com/how-bitcoin-casinos-work-the-ultimate-guide/]
Pros of Bitcoin Casinos:
- High level of privacy, as transactions are anonymous and not traceable.
- Fast and secure transactions, as bitcoin transactions are processed instantly using blockchain technology.
- Lower transaction fees compared to fiat online casinos.
- Decentralized and transparent nature of blockchain technology, providing enhanced security.
Cons of Bitcoin Casinos:
- Limited acceptance among players, as not all players may be familiar with bitcoin or other cryptocurrencies.
- Lack of regulation, as bitcoin casinos are not regulated by traditional authorities, which may increase the risk of fraud or other criminal activities.
- Volatility of bitcoin and other cryptocurrencies, which may affect the value of players’ deposits and withdrawals.
Comparison Table: Bitcoin Casino Software Providers
| Software Provider | Technology | Features | Popular Games | Relevant Sources |
|---|---|---|---|---|
| SoftSwiss | Proprietary platform powered by blockchain technology | White-label solutions, customization options, mobile-friendly | Slots, table games, live dealer games | SoftSwiss Official Website |
| BetSoft | HTML5 technology for seamless mobile gaming | 3D graphics, cinematic gaming experience, wide game selection | Slots, table games, video poker, specialty games | BetSoft Official Website |
| Microgaming | Viper software platform with advanced gaming features | Large game portfolio, progressive jackpots, high-quality graphics | Slots, table games, live dealer games, progressive jackpots | Microgaming Official Website |
| NetEnt | Innovative gaming solutions powered by cutting-edge technology | Engaging gameplay, high-quality graphics, unique bonus features | Slots, table games, live dealer games, progressive jackpots | NetEnt Official Website |
| Evolution Gaming | State-of-the-art live dealer gaming platform | Live casino games with real dealers, interactive features | Live dealer games, including blackjack, roulette, baccarat | Evolution Gaming Official Website |
| Playtech | Advanced gaming platform with a wide range of features | Progressive jackpots, branded games, unique bonus features | Slots, table games, live dealer games, progressive jackpots | Playtech Official Website |
Note: It’s important to keep in mind that the technology and features of Bitcoin casino software providers may vary depending on the specific software version or platform used by the casino. It’s recommended to check the specific features and technologies of each software provider before choosing a Bitcoin casino platform.
Sources:
- SoftSwiss Official Website: https://www.softswiss.com/
- BetSoft Official Website: https://www.betsoft.com/
- Microgaming Official Website: https://www.microgaming.co.uk/
- NetEnt Official Website: https://www.netent.com/
- Evolution Gaming Official Website: https://www.evolutiongaming.com/
- Playtech Official Website: https://www.playtech.com/
Comparison Table: Bitcoin Sportsbook Software Providers
| Software Provider | Technology | Features | Popular Sports | Relevant Sources |
|---|---|---|---|---|
| Sportsbet.io | Proprietary platform powered by blockchain technology | User-friendly interface, in-play betting, wide range of sports markets | Football, basketball, tennis, eSports | Sportsbet.io Official Website |
| Nitrogen Sports | Custom-built platform with emphasis on anonymity and security | Anonymous betting, live betting, competitive odds | Soccer, basketball, baseball, eSports | Nitrogen Sports Official Website |
| Cloudbet | Proprietary platform powered by blockchain technology | High betting limits, live streaming, wide range of sports markets | Soccer, basketball, tennis, eSports | Cloudbet Official Website |
| Betcoin.ag | Custom-built platform with focus on security and anonymity | Live betting, competitive odds, large selection of sports markets | Football, basketball, baseball, soccer | Betcoin.ag Official Website |
| Stake | Proprietary platform powered by blockchain technology | Instant deposits and withdrawals, in-play betting, simple interface | Soccer, basketball, tennis, eSports | Stake Official Website |
| FortuneJack | Custom-built platform with advanced betting features | Live betting, in-play statistics, wide range of sports markets | Soccer, basketball, baseball, eSports | FortuneJack Official Website |
Note: The technology and features of Bitcoin sportsbook software providers may vary depending on the specific software version or platform used by the sportsbook. It’s recommended to check the specific features and technologies of each software provider before choosing a Bitcoin sportsbook platform.
Sources:
- Sportsbet.io Official Website: https://sportsbet.io/
- Nitrogen Sports Official Website: https://nitrogensports.eu/
- Cloudbet Official Website: https://www.cloudbet.com/
- Betcoin.ag Official Website: https://www.betcoin.ag/
- Stake Official Website: https://stake.com/
- FortuneJack Official Website: https://fortunejack.com/
Comparison Table: Bitcoin Casinos – Payout Speed, Software, Games
| Bitcoin Casino | Payout Speed | Software | Games | URL |
|---|---|---|---|---|
| BitStarz | Instant | Multiple software providers | Slots, table games, live casino | BitStarz Official Website |
| mBit Casino | Instant | Multiple software providers | Slots, table games, live casino | mBit Casino Official Website |
| FortuneJack | Instant | Proprietary software | Slots, table games, live casino | FortuneJack Official Website |
| CryptoWild | Instant | Multiple software providers | Slots, table games, live casino | CryptoWild Official Website |
| 7Bit Casino | Instant | Multiple software providers | Slots, table games, live casino | 7Bit Casino Official Website |
| Stake | Instant | Proprietary software | Slots, table games, live casino | Stake Official Website |
Note: Payout speed, software, games, and other features of Bitcoin casinos may vary depending on the specific version or platform used by the casino. It’s recommended to check the specific features and technologies of each casino before choosing a Bitcoin casino.
Sources:
- BitStarz Official Website: https://www.bitstarz.com/
- mBit Casino Official Website: https://www.mbitcasino.com/
- FortuneJack Official Website: https://fortunejack.com/
- CryptoWild Official Website: https://www.cryptowild.com/
- 7Bit Casino Official Website: https://www.7bitcasino.com/
- Stake Official Website: https://stake.com/
Comparison Table: Bitcoin Casinos – License Details
| Bitcoin Casino | License | License Details | URL |
|---|---|---|---|
| BitStarz | Curacao eGaming | License No. 8048/JAZ | BitStarz Official Website |
| mBit Casino | Curacao eGaming | License No. 1668/JAZ | mBit Casino Official Website |
| FortuneJack | Curacao eGaming | License No. 8048/JAZ | FortuneJack Official Website |
| CryptoWild | Curacao eGaming | License No. 8048/JAZ | CryptoWild Official Website |
| 7Bit Casino | Curacao eGaming | License No. 8048/JAZ | 7Bit Casino Official Website |
| Stake | Curacao eGaming | License No. 8048/JAZ | Stake Official Website |
Note: The licensing details of Bitcoin casinos may vary depending on the specific version or platform used by the casino. It’s recommended to verify the license and regulatory information of each casino before choosing a Bitcoin casino.
About the Author: The Helsinki Team is a dedicated group of reviewers and writers who specialize in providing the latest news and in-depth reviews of the top crypto gambling and betting sites. With extensive experience in the industry, the team offers valuable insights and analysis on everything from blockchain technology to online casino games. We prioritize responsible gambling and encourage our readers to Gamble Aware. For the most comprehensive coverage of the crypto gambling and betting world, visit helsinki.reviews.”
