1. By continuing to use the site, you agree to the use of cookies .This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy.Find out more.
    Dismiss Notice
  2. Follow Casinomeister on Twitter | Facebook | YouTube | Casinomeister.us US Residents Click here! |  Svenska Svenska | 
Dismiss Notice
REGISTER NOW!! Why? Because you can't do diddly squat without having been registered!

At the moment you have limited access to view most discussions: you can't make contact with thousands of fellow players, affiliates, casino reps, and all sorts of other riff-raff.

Registration is fast, simple and absolutely free so please, join Casinomeister here!

Bit Coin Casinos Review

Discussion in 'Online Casinos' started by cheetahwind, Oct 20, 2014.

    Oct 20, 2014
  1. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    Editor's note: the casino being discussed here (BitCasino.io) is using pirated NetEnt software and should be avoided like the plague.


    I was asked to post an update of when I did receive my funds from my sale of Bit Coins. So here's the story.

    Let me first start off saying Bit Coins are not for those are the feint of heart for wanting to move there money around. Mainly because the value of bit coins go up and down frequently. Like I stated in my previous thread, I bought $10.00 worth of Bit Coins. Then it turned into $9.99, then went up to $10.05, then down to $10.01 and back to $10.00. I also bought $5.00 worth of bit coins that had the same similar effect.

    How it worked on depositing into the casino was I sent my bit coin purchase to the casino via a unique Bit Coin address they assigned me. Then within a few minutes I got confirmation my bit coin deposit was available. Somehow though during the send my bit coins value had gone up. Leaving me literally a $0.01 worth of bitcoins after making 2 different deposits.

    So anywho, I got to play for a bit at a casino called BitCasino.io. They are licensed in Curacao and offer casinos games which you can bid on with Bit Coins.

    They offer slots, video poker, video based table games, and even live games such as Blackjack, Baccarat, and Roulette. What interested me the most was being able to play Aristocrat games, even despite me being in the US.

    So anywho my first deposit was down the tubes, not terribly fast. It did take me a good solid 20 minutes to loose my $10.00. Yet I was satisfied with my play time. So I made a second deposit of $5.00. This was the one that was a winner. I played a few more games and had a rather nice pay day. I ended up cashing out 0.60 bit coins worth $222.04.

    Now because I wanted to play smart, I ended up cashing out only 0.50 bit coins, and leaving the rest in my wallet for play later. Which amounted to $189.04, which after the wallet withdrawal fee of $2.04 I ended up cashing out $187.00.

    Now I ended up cashing out with online wallet provider Coinbase, because I had already had them setup with my banking information. As circle the other online wallet I had used. I had not setup with my banking information, mainly because I was only interested in using them for depositing with my bank card.

    Anywho I executed the sale on Saturday October 11, 2014. This morning my bank finally confirmed the funds had indeed arrived in full as promised. So it took a little over a week for the sale to happen. Is this a typical sale turn around? I have no idea honestly.

    I decided after waiting over a week for Coinbase to execute my withdrawal. I decided that was a bit long especially considering I bank at a national bank and there wasn't any way it should have taken nearly that long to get a deposit put into my account. So my next attempt at a Bit Coin casino will probably result in my trying out Circle for a withdrawal. As I have just given them all of my banking details and will hopefully have that verified within the week.

    If anyone has any questions, comments, or concerns feel free to respond. I'm not greatly knowledgeable about this type of currency nor playing atmosphere yet. Yet it feels good knowing the fact that if there was an issue with my transfer that Coinbase was a registered money transmitter and everything was on the up and up with them.
     
    Last edited by a moderator: Nov 25, 2014
    6 people like this.
  2. Oct 20, 2014
  3. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    Thanks for providing all this detail. It's really helpful to understand the process from someone who's "been there done that".
    I have done some research since your initial posts and have 2 questions related to the purchase and sale process.

    1. Did you purchase your bitcoin through your wallet or through an exchange and have it sent to the wallet.
    2. It sounds like the wallet processed the bitcoin back to $$'s for you. Did you have to go to an exchange to sell the bitcoin or did the wallet handle that as well?

    so in summary, did the wallet handle all the buying and selling for you or did you have manipulate the exchange on your own.

    thanks again.
     
  4. Oct 20, 2014
  5. nisosbar

    nisosbar Ueber Meister PABnonaccred

    Occupation:
    Other
    Location:
    Right here
    Cheetah, what kinds of documents did you need to provide, if any? Was it a standard verification procedure, or perhaps none? Thanks. :cool:
     
  6. Oct 20, 2014
  7. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    To answer question #1
    I purchase the Bit Coin directly from Circle. Basically I told them a USD amount I wanted to deposit. Then from there they converted the USD amount to the value of Bit coin. The same would go with Coinbase, even though Coinbase can only accept actual credit cards (not debit, prepaid, or gift) or bank accounts for purchasing bit coin.

    Answer #2
    After I waited for my bit coins to be confirmed from the casino. Which took about 2 hours. I was able to cash out directly from Coinbase, without the need for any additional hoops. So they sold the coin for me, and turned it into cash in my bank account for me.

    Basically, you must at least a bare minimums provide them with a bank account (or in circles case just a debit card is fine). Then they'll establish a limit for you based off that. Then you can increase your limits, by doing things such as verifying your cell phone number, registering and answering a few questions about your social security number based off of a credit report, adding a credit card (or in circles case you can add a debit card), offering information about yourself, or even making a purchase helps you become verified. No documents are necessary unless if you fail one of the automated checks.
     
    2 people like this.
  8. Oct 20, 2014
  9. nisosbar

    nisosbar Ueber Meister PABnonaccred

    Occupation:
    Other
    Location:
    Right here
    Thanks, Cheetah - I meant, with the casino - what documents do they require prior to first time cashing out?
     
  10. Oct 20, 2014
  11. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    Oh sorry, I misunderstood...

    The way I understood it, if you cash out more than 1 full bit coin (right now roughly $380.00), you may be asked for some sort of verification. What that would be I have no idea. Even though they also go on to say for smaller amounts they can request verification as well.

    So far knock on wood, I haven't had to provide any sort of documents or verification. Yet if the case does arise, I'll let you know what was required of me to send.
     
    2 people like this.
  12. Oct 20, 2014
  13. SlotMonster

    SlotMonster SoftSwiss Representative webmeister

    Occupation:
    Manager
    Location:
    Somewhere in eternity
    I'd suggest you to try casino called bitstars, our recent project. They offer bets in bitcoins as well as in real money :)
     
  14. Oct 20, 2014
  15. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    What software is it, any live play like at the casino I just mentioned?
     
  16. Oct 20, 2014
  17. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    I noticed them in the reviews and saw they used a software I never hear of called Soft Swiss which made me kind of skip past them.

    Now that I see your the rep for them, I'll have to go back and give it a second read.

    I also saw 1 offering Playtech that requires no documents or any info other than an e-mail address and takes USA.

    It looks interesting if you have the patience; which most gambles lack, to work the process.
     
  18. Oct 20, 2014
  19. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    I guess seeing that it's Microgaming software, is it US friendly? Last I knew Microgaming pulled completely out of the US market.
     
  20. Oct 20, 2014
  21. homerbert

    homerbert I-Gaming Industry Representative webby

    Occupation:
    nothing :)
    Location:
    middle of Europe!
    bitcoins is awesome since it is totally anonymous and withdrawals in most cases are instant. No more stupid ewallets or anything like this. Just need some time till great bitcoin casinos appear. I did not like casino you mention, BitCasino.io , get NDB from them and want to try their novomatic games. It appears that this games are just clones(not original) and laggy. No, thanks, i saw this millions time in our russian oriented casinos.
    re bitstars (while slotmonster not here). Yes it's softswiss, yes this casino have live games. Also there is new MG games, but afaik USA still should be IP blocked(for MG games)
     
  22. Oct 20, 2014
  23. bowlingbob

    bowlingbob Experienced Member

    Occupation:
    sales
    Location:
    usa
    I would be cautious of some of these bitcoin casino software operators. I noticed that some are offering Aristocrat slots such as miss kitty, 50 lions, sun and moon, wild panda etc. I highly doubt that they have approval from Aristocrat to be providing these slots to US players in a real money mode. In fact, its possible the are ripped off versions as I have noticed some with some less than desirable paytables compared to the real version of the game. I noticed on Miss Kitty and Pelican Pete that the paytables are not the same as the standard ones and are giving you less coins for all the payouts than should be. I will say I enjoy the ease of depositing and having the funds in there in a matter of seconds and withdrawls are pretty speedy as well but the software providers running these casinos I do not trust. I tried a few casinos the other day with some spare bitcoins I had in my wallet from a few years ago when I bought several when they were $5-$10 a coin. It took at least a couple days for me to fire up and update the Bitcoin client and get it up to date what a pain that was.
     
    2 people like this.
  24. Oct 21, 2014
  25. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    I created an account at BitStars and logged in to look around and test it in fun mode. Of course as soon as I actually logged in, all the games I would want to play are suddenly gone or have a lock on them.

    Very deceiving IMO if they are showing these on the home page when hitting it from a USA IP address and then blocking them once I log into an account.

    Not a good way to start or be a "star".

    Edit to add: To be fair, I found the Playtech site to be real garbage as well.
     
  26. Oct 21, 2014
  27. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    I'm not sure exactly where you played your Aristocrat games, yet the pay tables are pretty much the same as what I have seen in a land based casino. From what I have seen, as for the rip off part. The games seem pretty much identical, sound the same, play the same. So they may have licensed the real games, just not told Aristocrat where they were going to be used.
    Then again being an Australian based company, they may not care as much as someone like IGT or WMS either.
     
  28. Oct 27, 2014
  29. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    Well a minor update, because there was some accusations thrown around about the games not being possibly the same ones or not being licensed.

    I did today get an e-mail update, which I have asked if I can summarize it in public. Which I was given permission to.

    Basically in a nut shell, Bit Casino.io does have a license for Aristocrat games through a provider called Keld Games, which is one of the online providers of Aristocrat software. So the games and software are genuine.

    As for the pay tables not being the same, they did offer the suggestion if you believe the pay tables are different. They could be using a different RTP setting than the games your used to playing. Which could affect the pay out of the game itself.

    Yet upon a review myself, I can't find any differences between the real Pelican Pete and 50 Lions games. Unless if your talking about the difference between online and land based.

    Which I have found most online and land based versions tend to be different in my experience. Like some of the WMS games were completely rewritten for the online versions of themselves. So the bonus and the pay lines were a bit different. That could be the case with Aristocrat.

    Would you care to maybe point out some of the differences you have seen? Just mainly I don't play these games enough on the land side, because I play WMS more than Aristocrat. So I don't have the how the bonuses play and how the main games play memorized.
     
    1 person likes this.
  30. Nov 10, 2014
  31. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    To not derail the VISA thread I am continuing this point here:

    I have been doing a fair amount of research on bitcoin since Cheetahwind posted his experience last month.

    I have e-mailed several casino support folks and asked some questions and read a lot of info on the wallet and exchange sites. I like to think that I am somewhat reasonable intelligent and I find this to be a very complex system to navigate.
    The rate changes like the wind and it seems that not all wallets are created equal.

    I found a wallet I liked ( Coinbase) and opened an account. Did not buy any bitcoin just learning. Then one casino support tells me I have to use a real Bitcoin exchange Wallet not a shared wallet like coinbase.

    The more complicated it gets the less patience or interest I have.
     
    2 people like this.
  32. Nov 10, 2014
  33. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    lol well, I could be a her, but my wife would tend to be a bit ummm upset

    Anywho, most places will see Coinbase as a valid bit coin issuer. The main issue most places have with a place like Coinbase is the fact, that your storing your coins in a cloud based atmosphere. Versus on your phone or somewhere supposedly more protected. Like in the example of Mt. Gox they were a HUGE cloud based wallet bit coin supplier. They hold tons and tons of bit coins, and lots of cash. Then to be hacked and have there coins drained. Caused a huge issue.

    That's why there's a huge push for people to download there wallets to there computer, smart phone, ipad, or whatever electronic device you feel won't be easily hacked or compromised. Yet honestly after reading quite a few audit reports from Coinbase. Unlike Mt. Gox I do feel Coinbase is fairly secure. Plus they have a valid money transmitter license. Not saying that amounts to much if money is stolen, but it at least makes me feel more at ease. Knowing there will be someone to complain to when things go sour. If they do.
     
  34. Nov 10, 2014
  35. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    LOL....I caught this and edited it just before you responded.

    One casino is recommending blockchain.info but I can't figure out how the heck you actually get real $$$ in and out of it. Looks like your stuck with bitcoin.
     
  36. Nov 10, 2014
  37. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    Blockchain is one of the transmitting providers, one of my wallets uses Blockchain to initiate the request. Just ask for a bit coin address, and send them the money. They'll see it all transmits the same. The only thing Blockchain does is verifies that the Bit Coin is valid.
     
    1 person likes this.
  38. Nov 10, 2014
  39. john39

    john39 Senior Member PABnonaccred

    Occupation:
    analyst
    Location:
    dfw
    just curious, is there any advantage to purchasing bitcoins online vs a bitcoin atm that you can feed cash to? and I assume get cash out
     

Share This Page