Many are popping up now all over the Internet. The idea exploited by these online casino operators is that since the Bitcoin is almost a perfectly undectable currency, online poker and casino players can trade with it to avoid problems with US banks and Credit Card companies when conducting financial transactions with these online gaming companies.
Yes, this is quite an effective method to lure US online gamblers, but how safe is the actual gaming and poker-playing on Bitcoin gaming sites?
And how safe is your account?
Well, the first two issues to examine are whether or not the Bitcoin casino is licensed and regulated, and whether or not it has a strong support system to aid players on the site. If the answer to either of these questions is no, the riskier it may be to play on the site.
However, off-setting these concerns is the simple fact that if a Bitcoin casino operates on the same premise of all other online casinos, which is the built-in house advantage that they all enjoy, it really has no motivation to cheat, especially if it has plans to remain in the competitive market for any length of time.
Many of you may remember, however, that in the early days of online poker and casinos, there were many fly-by-night online casino bust-out operations where the casinos cheated their customers and emptied out their accounts, before disappearing from the Web entirely without a trace.
I would think this would be the biggest risk encountered by a player on a new Bitcoin site, even though that risk would be quite small.
My overall view: If Bitcoin casinos are your best option for gambling online, don't worry too much about being a cheating victim.