Over the past decade, online poker has become the most popular form of gambling in the world. Online poker rooms stated to appear at the turn of the century as a speculative idea as no-one was even sure that they would earn enough money from players in order to stay open. Shortly after, everyone realized that online poker was a hit, and a lot of this came from the success of Chris Moneymaker at the 2003 World Series Of Poker tournament. The evolution of crypto currencies like the Bitcoin is already changing the way that poker is being played through a number of Bitcoin poker sites and rooms that have begun to appear over the last few years. Now, we’re seeing that Bitcoin has the potential to change the entire industry.
Real Money American Poker Sites
Online poker is rapidly expanding around the world, but in many anti-gambling nations like the United States, growth has been stifled or eliminated almost entirely by overzealous governments and legislations against online poker.
While most of Europe has a regulated and legal market for not only online poker, but all forms of gambling – much of Asia and Russia do not. The United States is the largest country to enact laws against online gambling, starting with the 2006 Unlawful Gambling Act. Many poker players are familiar with the ‘Black Friday’ seizures of 2011, which brought online poker giants Poker Stars and Full Tilt Poker to their knees and left players without their bankrolls for an extended period of time.
The seizures and indictments in April, 2011, known as ‘Black Friday’ on the US-facing online poker industry showed that the Department of Justice meant business when it comes to going after real money online poker operators. All current fiat-currency based poker sites servicing the US market have received cease and desist orders from the Department of Justice, and though you may hear differently from some sites that are promoting these poker rooms and poker companies, any funds deposited at a poker site are ultimately at risk. The US isn’t the only country that is implementing strict rules and regulations regarding online gambling. Russia ordered a crackdown on internet gaming in 2013 and a number of other countries around the world already outlaw the activity. This is where Bitcoin poker comes in – offering players the opportunity to play Bitcoin poker in a safe, secure environment, which is untouched by legal jurisdictions.
How Does Bitcoin Poker Work?
Bitcoin poker sites have become increasingly popular in recent years, and several rooms have burst onto the scene offering players an alternative to fiat-currency based sites. First and foremost, Bitcoin allows players to move money around anonymously, with blockchain technology’s primary aim being to provide a private environment for people to transfer funds with ease. Bitcoin poker works in the same way that regular poker is played – with the only difference being the currency that is used to play Bitcoin poker. There are a number of differences that a Bitcoin poker room or site can offer players too – all of which benefit the player more than what a fiat currency site can offer.
What Are The Requirements To Sign Up For Bitcoin Poker?
When signing up to Bitcoin poker sites, customers are not put through any rigorous, information-heavy procedures in order to make an account. This differs with regular fiat currency casino sites however, where customers need to provide a lot of personal information such as copies of their I.D. or a scan of a utility bill in order to simply open an account. When you play Bitcoin poker, you are provided with a far more private and anonymous gaming experience. Because most fiat currency sites are based in law abiding jurisdictions many people believe that all of their information is completely safe online, but it is not unheard of for this kind of information to end up in the wrong hands. Dozens of people will also be seeing this information within your account, and this can include your credit card information. When finding the best Bitcoin poker sites however, you will find that the requirements will differ between each site that you are looking to use.
Bitcoin Poker Games
Bitcoin poker sites offer a large selection of games just like any other real money poker room offers. Player numbers are not as massive yet but offer potential as during evening hours in the US, there are 500+ players across several Bitcoin poker rooms. Currently, two A+ rating Bitcoin poker sites offer this full calibre of Bitcoin online poker.
- Bitcoin Texas Hold’em Poker – offers limit or no limit Texas Hold’em poker games
- Bitcoin Omaha Poker – offers Hi and Lo Omaha poker games
- Bitcoin Jacks Or Better – includes the popular versions of video poker
- Bitcoin Poker Tournaments – win free cash in tournaments
There are also a large amount of guaranteed multi-table tournaments with large overlays and Sit ‘N’ Go Bitcoin poker tournaments organised on a regular basis. These Bitcoin poker sites are rapidly growing, both in liquidity and the number of games available to players. As Bitcoin becomes more and more popular worldwide, Bitcoin poker player numbers and the number of Bitcoin online poker games will both likely to continue to increase in size.
Bitcoin Poker Advantages & Bonuses
Upkeep and financial cost are extremely limited when using Bitcoin compared to fiat currency based poker rooms. Unlike traditional money, Bitcoins currently cannot be seized by any government as each and every transaction is final, meaning once the coins are sent to an address it is technically impossible to be reversed.
When depositing or withdrawing from a Bitcoin poker provider you should receive your deposit or withdraw instantly once you request it. On a rare occasion, the request can take up to an hour to confirm but is common and nothing to be alarmed about. Bitcoin clearly offers online Bitcoin poker players a unique and easy method for depositing or withdrawing money. Bitcoin Casino Pro believes all Bitcoin holders should behave like lawful adults and report net winnings to their local tax agency. Some will refuse to do so by their own personal choice as it is highly unlikely for a government to track particular transactions.
Bitcoin technically falls into a legal grey area, as many countries around the world are unsure how to classify the crypto currency. Gambling with Bitcoin, such as Bitcoin online poker, may not fall under the UIGEA and therefore may be immune to prosecution. There’s no way to be sure how it would end up in court, but as of mid-2013, no Bitcoin gambling sites have felt the wrath of the US Department of Justice and should be considered safer than a poker room that accepts other deposit methods.
Bitcoin Poker Rake
Due to the costs saved from payment processing, bitcoin poker rooms offer the lowest rake rates in online poker history. Poker Stars and Full Tilt offer the lowest rake rates among traditional sites, but most Bitcoin poker rooms rake pots half the amount of these two giants. This provides a much better user experience for those who choose Bitcoin poker sites.
VIP Bitcoin Poker Programs
On top of the lowest rake available online, almost all rooms will offer some sort of VIP Program to players who will be able to earn rake back and other VIP rewards. This, of course, is on top of the best rake structure around, making this an awesome deal for poker players.
It is vital to remember how much money you are paying in rake at other poker sites that don’t offer the chance to play Bitcoin poker. The difference is more than substantial and depending on the amount you play, playing at a Bitcoin poker site should save you thousands, or even tens of thousands, of dollars per year in rake.
Where Are The Best Places To Play Bitcoin Poker?
Finding the best place to play Bitcoin poker is mainly down to personal preference and if you already play Bitcoin poker on a particular site, then you’re going to know what works for you and what doesn’t. If you’re new to Bitcoin online poker, then you’re going to want to ensure that you know where to turn. Here at Bitcoin Casino Pro, we have put together a list of the most reliable, trustworthy and best sites available on the market for Bitcoin players to enjoy. Whether you’re looking for a Bitcoin poker room to play in, or you’re looking for a general Bitcoin casino site that features the best Bitcoin poker games, you are certain to find a broad range on our list.
Best Bitcoin Poker Games
There are a huge range of variants when it comes to online poker but only you will know which games are the best when it comes to Bitcoin online poker. The best Bitcoin poker games can be found across a huge range of Bitcoin poker sites and because of this you can be certain that trying out a number of them will give you a new perspective on the variants that you can choose from.
The Future Of Bitcoin Poker
Will Bitcoin poker be adopted by mainstream operators? Possibly, one can’t deny the built-in efficiency and cost-effectiveness of Bitcoin. The crypto currency is an ideal form of payment for online gambling and some mainstream operators have started to offer the currency as a deposit option. One has to think this number will increase in the near future and will become the next big processor poker sites around the globe. Bitcoin poker is likely to always have a future on the market, and with the popularity of Bitcoin growing it is likely that we will see this venture even further.
