If you want to make a profit while gambling with Bitcoin, there are some things you have to avoid in order to prevent major losses. Here are the 7 most common mistakes you should not do when gambling in a Bitcoin casino.
Not playing the right Bitcoin games
For high winnings, you should choose to play low house edge games. Avoid slot games that have a house edge, which is higher than average. Games like Blackjack, Baccarat, and Dice usually have the lowest edge that is between 1-2%. Never play with a house edge of 10% or higher.
Betting more than you can afford to lose
Do not take higher risks and bet more than you can afford to lose just because you heard of someone winning the jackpot in one big bet. Considering the volatile nature of Bitcoin, you should proceed with caution when making any bet, especially if you want to be in it for the long term.
Staying in the game for longer than you should have
A pretty common mistake done by both Bitcoin casino and regular casino players is to keep going at it while they have a winning streak. Players should have a set goal in mind before they start playing, and when they reach that goal, they should quit while they are ahead. If you get too greedy, this can cause you to make riskier bets and lose more.
Not knowing your limits
Another general gambling tip is to know your limits. Set a limit to how much you are willing to lose in order to protect yourself emotionally. Gambling is similar to trading cryptocurrencies. It is not wise to put all your money in one coin, just like it isn’t wise to put all your Bitcoin in one slot game.
Playing with borrowed funds
You should never gamble with money or crypto that is not yours. In some cases, this could be illegal, and you do not want to wound up in court for such a matter. Gamble only with your own money and bet only what you can afford to lose. This way you won’t lose any friends or money that you don’t have.
Playing Bitcoin games you have no experience with
Before betting with real cryptos, you should first get some experience in playing these games. There are plenty of casinos that have demo accounts or free play modes. You can take as much time as you need to understand the mechanics of the game before you start playing with real Bitcoins.
Selecting shady casinos
The most important mistake you should avoid is choosing a sketchy gambling platform. There are many scam casinos that prevent you from withdrawing your funds, and some just disappear with all the player’s money. If you are looking for secure and anonymous crypto casinos, then you should visit the 1xBit online casino, which is known to have reliable bet processing and fast guaranteed payouts on all successful bets.
1xBit is an online crypto casino that features more than 5000 types of slots from over 100 reputable game providers, as well as dozens of table games with over 200 live dealers. Get a real-life casino experience at 1xBit, a fully anonymous casino where you do not need any kind of personal data to sign up.
Players can fund their multi-currency accounts with any of the 20+ supported cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, and many others.
New users are able to claim up to 7 BTC as their welcome bonus by making their first four deposits. A VIP cashback bonus is available for recurrent players, where they can get back up to 11% from any bets they made.