Bitcoin poker refers to any online poker site that accepts this method of funding your poker account. Online poker rooms such as Seals with Clubs and Satoshi Poker that deal in Bitcoin offer a nice alternative to US players who are looking to get their online poker fix.
This cryptocurrency has been around since 2009 but the first bitcoin poker site was launched in 2011. Given the cost effectiveness of bitcoin, these savings are passed on from the operators to the players in the form of lower rake and attractive rakeback programs. There are no or very minimal fees for transferring bitcoins to and from the online poker sites the only fees that are incurred are for buying and selling the currency.
The anonymous nature of bitcoin also means that online poker players can use bitcoin to play poker in complete anonymity without having to reveal private information to the poker room. Of course, this is not possible when you’re playing poker at a regular online poker room.
It is not always the case but the majority of bitcoin poker sites are bitcoin exclusive poker sites, meaning they only offer bitcoin as a funding option as well as for withdrawals. So it goes without saying that when playing at such poker rooms you will be playing against diehard bitcoin enthusiasts that also enjoy a game of poker.
One of the problems of playing at bitcoin poker sites is that with the digital currency slowly gaining mainstream acceptance, it means these poker rooms struggle from a lack of player traffic to fill the tournaments and ring game tables.
It can be a problem in that you may not always find a suitable game to play in, but poker sites with smaller player pools tend to attract lots more casual players, since the sharks probably don’t view the site as a viable option to get in decent volume. This means the games should be easier to beat.
Another issue when playing poker using bitcoins is that it’s a fairly volatile currency that is not immune to wild fluctuations. So just like any precious traded commodity, the value of bitcoin can change very quickly. Of course, there is also an upside to this, whereby any winnings you thought you had won turned out to be even more.
If you’re ready to get started you will be pleased to know there is an updated list of bitcoin poker rooms.