With the rise of Bitcoins since 2009, this cryptocurrency, or virtual money is now available to use as money to play casino games in most of the Canadian friendly casinos. You can find Bitcoin or BTC as one of the deposit options at online casinos. Like all other casino games you can even play Keno with Bitcoin. All you need is to follow the simple steps below to play Bitcoin Keno at online casinos that accept BTC as currency to play.
1. Create your Bitcoin Wallet
The first step to play casino games with Bitcoin is to create your Bitcoin Wallet to buy and store BTC
- Choose a popular bitcoin softwares offering the service like indacoin.com, bitpay.com,coinbase.com, spectrocoin.com.
- Once you’ve selected and signed up for an exchange, you can begin transferring money to your exchange bank account.
- Once money is deposited, you can choose to ‘Buy’ or ‘Trade’ the bitcoins, depending on what you are looking to do. The pricing will always vary depending on supply and demand.
- Once the bitcoins are purchased, you can transfer your bitcoins from the bitcoin exchange to your wallets.
Note that you can get Bitcoins for free also but that can be a bit daunting as you need to solve puzzles or build something to get hold of them.Bitcoins can not only be bought and sold like traditional currencies, they can also be “mined.” Mining for bitcoins means gathering bitcoins using a combination of your own software computing power and the Block Chain.
Mining for bitcoins avoids the need to purchase them so “free” is the right term, but finding success while mining is as tough as mining for gold and with heavy competition from quality miners across the web, mining for bitcoins is not a task for amateurs.
2. Choose Bitcoin website or online casino to play Keno
- Register yourself at the casino and open your casino account by funding it with BTC as you do normally in any online casino with CA$.
- Search for Keno game from the games lobby
- Select the game and click to play
Keno is a lottery type game as you know so you are given cards to choose random numbers from. The cards themselves have eighty numbers each. Depending on the casino or slot, you can be asked to choose anywhere between ten and twenty different numbers.
- Once you have chosen, the game begins.
- Now click the numbers you wish to play, you can then place a bet on it using your bitcoins. Random numbers are chosen for the game using a random number generator on online gaming sites.
- If you win, your bitcoins are added to your total and you can cash out whenever you want. If you lose, you have the option of leaving the game or playing again to try your luck.
Different gaming sites, just like different casinos, offer different payouts depending on the number of matching numbers you have. Some may only give you a payout if you correctly match a minimum of four numbers and others may give you a payout as long as you get two or three. The payouts are different and the exchange rates for bitcoins may be different as well.
3. Make the deposit with BTC at online casinos
As said above sign-up and login to your account. Once you are logged into your account choose “My Account” copy the address that is displayed (casino wallet address). Go to your bitcoin wallet such as blockchain.info login select deposit paste casino wallet address into the address space and send. Once the deposit is recieved on your casino account balance will be updated.
The minimum deposit is 1 mBTC or 0.001 Bitcions. There is a 1 mBTC or 0.001 minimum Bitcoin withdrawal. Players can withdrawal from their balance at any time.
Bitcoins can be stored in two ways: software using a cloud or software you download. Among these two forms of storage exist a wealth of services dedicated to depositing and withdrawing bitcoins, specifically to and from online gambling sites. So those hoping to use bitcoin while gambling won’t be limited to just one deposit or cashout option.
Software like BlockChain or GreenAddress store them in a cloud, in a similar way to PayPal or Neteller and are considered the most popular forms of bitcoin storage. Software like Electrum or Darkwallet is downloaded onto your computer, and the coins are stored on your hard drive. This software tends to be more secure.
Advantages of playing with Bitcoin
- Bitcoin transactions are faster while using conventional currency, cashouts can take days, and cheque deposits up to a week. Bitcoin transactions are usually complete within minutes.
- Also Bitcoin casinos have no transaction costs. All transfers are peer-to-peer, so there are no middlemen to pay. Multi-currency casinos often make charges to deposit or withdraw using a credit card, and the providers themselves may have fees. The same can be true for e-Wallets and banks.
- Bitcoin gambling is safe and secure. Under conventional banking systems, powerful bodies maintain advanced security systems. There are also insurance systems in place, and secure middlemen like PayPal who guarantee funds. Bitcoin cryptocurrency transfers are more secure because they are anonymous, peer-to-peer transactions. When funds are transferred, a security certificate between the two parties is generated and approved by virtual software and there is least fear for hacking your personal information.
Legal aspects of playing with Bitcoin
Online gambling in Canada is a regulated industry. There are no laws against online gambling but there are laws against gambling at unlicensed establishments or those which are not run by official institutions. Several of Canada’s provinces’ lotto organisers have also moved into online gambling which is proving to be a popular business in the Great White North. The advent of online casinos has seen several foreign-based sites operating from Canada and, in particular, from the Kahnawake Mohawk reserve as the residents have organised the Kahnawake Gaming Comission which offers online gambling licenses for activities such as online poker and sportsbook facilities. Because of the legal status of online gambling in Canada and the use of Bitcoin not being restricted, Canadian residents should have no trouble accessing and no concerns about playing at Bitcoin casinos from anywhere they wish to enjoy from.