Cryptocurrencies have swept the world off its feet because this digitalized form of trading has opened our eyes to perks we didn’t even think were possible.
If you want to know exactly what these perks are, do yourself a favor and read our comparison – FIAT vs Crypto at Online Casinos. After you’ve done your homework, I’m pretty sure you’ll never even consider playing at a FIAT casino again.
But, like in every industry, you’ll find the good, the bad, and the ugly and because the crypto casino industry is at its epitome, there are unfortunately casinos that take advantage of the situation.
But what makes a crypto casino a scam casino and are there any signs or red lights that will flicker when you stumble upon one?
Yes, indeed! And, here they are:
1. Check if the crypto casino has a license
The first thing I do is to check whether a crypto casino has a license. You’ll find this information right at the bottom, in the footer and it will look something like this:
(I took Bitstarz as an example)
The role of the licensing authority is to make sure that the services offered by the crypto casino are fair and safe for its players and casinos need to go through a strenuous process in order to obtain one.
The thing about crypto casinos is that they are able to operate without a license and although there are some legitimate un-licensed ones, like Bitcoin Penguin, for example, it always makes me wonder why a crypto casino refuses to go through the process because there are hundreds of crypto casinos that do have licenses.
2. Does the crypto casino have a bad rep EVERYWHERE?
I meant to make ‘’everywhere’’ in capitals because the internet can be as useful as derogatory. You need to read reviews and player feedback but only rely on reputable platforms and forums like TrustPilot, Bitcoin Talk, or trustworthy review sites, like this one (I just had to ;).
I say this because I actually came across something online the other day that stated mBit Casino is a total scam, which I can assure you is not true at all.
Which actually made me think of this:
On the other hand, if you find more bad than good feedback from various reputable platforms, it’s most likely to be true and it will most likely be in your best interest to find somewhere else to play.
If a crypto casino is a scam, the feedback will often be about a casino not paying out winnings or closing a player’s account (with funds in) without any reason, which basically means that the casino is stealing the money of its players.
3. Are the T’s & C’s lawyer-like?
For me, another red light is when the terms and conditions are hard to find, read, or even completely missing. I just feel that if everything is above board, why try to hide this precious information from players?
King Billy Casino is a good example of how T’s and C’s should be displayed.
Obviously, you’d want to know what the wagering requirements are, for how long bonuses and free spins are valid, the max bet amount, the withdrawal restrictions and limits, if you are able to forfeit your bonus before meeting the wagering requirements and which games can be played with bonus credits or free spins.
I usually contact customer support if I can’t find what I am looking for or if I have a question regarding the T’s and C’s, and their reaction is also a telltale sign of how the casino operates, but I’m going to discuss this a bit later on.
3. Stupidiously big bonuses!
Yes, I agree, we all love a decent-sized bonus and although some bonuses are much higher than others, don’t be fooled by a promotion that looks too good to be true because it most probably is.
Currently, the highest Welcome Bonus I’m aware of is at mBit Casino – 9 BTC + 300 free spins – but generally, the big-gun bonuses are around 1 – 5 BTC, like you’ll find at Cloudbet, Fortune Jack, and Crypto Wild Casino.
So, if you see a promotion that promises you 20 BTC + 1000 Free Spins when you make a 0.001 BTC deposit with no wagering requirements and the chance to win $1 million in a daily prize draw, you better scoot along because I can assure you, it’s dodgy.
5. Rude or evasive treatment from customer support
Customer support is often something that is overlooked when players are weighing up crypto casinos but the truth is that it is one of the most important elements.
I’ve mentioned earlier that when I can’t find the information I’m looking for, I immediately contact customer support and if they are rude or evasive regarding important information, they’ve most probably got something to hide.
They’ll usually reply in a round-about way or they’ll keep you waiting for a very long time, hoping that you’ll give up and this is a clear sign that they don’t want to disclose the information you are after.
I personally like crypto casinos with community chats or forums like BC.GAME and Stake.com that allow players to communicate with other players as well as the casino because not only is this a clear sign that they appreciate player feedback but it’s also proof of transparency.
The truth is that, although not many, there are a few rogue casinos out there but there is no reason for you to fall for their dirty tricks.
At the end of the day, it’s your responsibility to do a bit of research to see if the crypto casino ticks all the right boxes.
And, don’t get me wrong, I’m not implying that a crypto casino is a scam when it doesn’t have a license, has a bad review here and there, if the T’s and C’s are uncomfortable to read or if the bonuses are more lucrative than usual but these elements are important and something you should be aware of the next time you’re searching for a legit crypto casino to play at.