Casinos that use cryptocurrency as a payment method have been rising recently. Crypto has gained widespread acceptance, and there are many benefits of using it to gamble online. The players and the casinos are catching on.
For most, betting with cryptocurrencies is the same as betting with traditional fiat currency. The same chances and the same rules apply. There are, however, some in-game features that are only available when betting with BTC.
In this article, we’ll explain how to use crypto on slot machines and how to maximize your chances of winning.
Understanding How Crypto Slots Work
The first thing you need to do is to understand how online slots work. Learning about the game is probably the best way to improve your odds of winning. Slots are a game of luck alone, meaning that a player can do little to change their chances.
Before using a game, a player must learn about its return to player rate. It refers to how much funds invested into a game return to the player. This comes in the form of a percentage. For instance, if a game has a 97 percent return rate, a player will get back $97 of every $100 they invest.
The same chances apply regardless of which type of currency you’re using to bet. Slots with a higher return to player rate are less volatile, and those with a smaller RTP are more volatile.
How to Choose a Slot Game
You need to pay attention to a few essential features when choosing a Bitcoin slot game. The first is its return to player rate, as we said before. It’s also helpful to know how volatile the game is. This means how predictable the results will be. Slots that are more predictable pay out less, and those that are more volatile pay out more.
It’s also essential that you choose slot games that you enjoy. Themes and gameplay options are often overlooked as less important, but since you’re going to spend some time with the game, it’s best to go for a game you find interesting and fun to play.
Manage Your Bankroll
One of the most important things you can do to increase your chances with a crypto slot game is carefully manage your bankroll. That way, you won’t go over your betting budget, and you won’t lose all of your funds after a few nasty streaks.
This was a matter of willpower alone, but it’s not anymore. Most modern BTC casinos allow players to set limits, after which they can’t log into their account for a while. That way, you can set a firm limit on how much you’re willing to bet and lose.
Guaranteed Fair Play
Using casinos that operate based on blockchain technology and that use cryptocurrency payments, comes with additional advantages. One of them is the fact that the use of these technologies guarantees fair play.
Smart contracts can encode the algorithms that determine the outcomes of slot machine spins. The code is visible to all participants on the blockchain, ensuring transparency and allowing players to verify that the game is operating fairly.
This doesn’t mean that the use of cryptocurrencies guarantees you’re going to win or that you’re going to end up with a profit. It just pulls the curtain a little bit on how slot machines work. That’s something players couldn’t get before.
Instant Payments
Another significant benefit from betting with BTC is how fast the payments are made. Since there are no middlemen and the decentralized cryptocurrency network, the payments are made immediately. This goes for both deposits to the casino account and withdrawals from it.
This is a convenient feature and one that attracts most players to the use of BTC. It comes with downsides, as well. Since transferring funds to a casino account is easy, some players may take advantage of that and make reckless decisions. Sticking to your budget is best, even if you can easily add to it whenever you want.
Automatic payouts work the same way, meaning that in most Bitcoin casinos, you can get paid out as soon as you’re done with the game and leave the table. With traditional currencies, there’s usually a waiting period for withdrawals that can take up to a few days.
In-Game Purchases
BTC casinos offer a unique mix of gaming and gambling, with the addition of in-game purchases. Players can use cryptocurrencies to acquire virtual assets, power-ups, or cosmetic enhancements, enhancing their gaming experience.
These features don’t constitute a “pay to win”. In some cases, the in-game purchases can increase your odds slightly, but for the most part, they are about making the gameplay more interesting and diverse and won’t affect the outcome.
No Fees
There are no fees for transferring cryptocurrency funds to and from a slot casino. That’s because there’s no centralized structure behind BTC, as with traditional currencies. This means that you can withdraw all the winnings.
It’s handy to players who bet and win small amounts and fees that dig into their winnings. Betting small amounts at first is also an excellent way to learn about slots firsthand and figure the game out without risking too much.
Progressive Jackpots
Progressive jackpots are common with crypto slots. Unlike traditional jackpots, these don’t have a fixed maximum payout. Instead, the payouts can exponentially grow with every turn of the game. This means there’s no limit as to how much you can win in the end.
There are networked and local progressive jackpots. This means that the size of the jackpot grows with the funds added with every new player. With local jackpots, all the players playing a slot game in the exact physical location contribute to the jackpot. Networks combine the pools of bets made by players from all over the world.
The use of BTC allows for borderless and even global participation in progressive jackpots, making the potential winnings that much higher.
Solving Disputes
Smart contracts, executed via blockchain technology, have an additional feature that the players may find helpful. They can be used to solve the disputes that sometimes arise between a casino and a player.
Blockchain ensures that every action and transaction is recorded in an immutable and transparent manner. They also have predetermined rules regarding how the game should operate, making dispute resolution easier.
It also saves resources for the casino and the player, making the whole process faster and simpler.
To Sum Up
There are many ways players can benefit from playing at crypto slot casinos. The players can and should take advantage of all the features that arise from this technology. It will make the gameplay fairer and less expensive for the player, eliminating all the fees and waiting periods.
When it comes to the gameplay itself, BTC slots are very similar to traditional slots, as they are a game of chance. The players should try to learn about the game and their odds of winning it before they start betting.
