Gambling can be a very fun past time for some people and it doesn't have to be an expensive hobby or even a bad value hobby whatsoever so long as you are going about selecting your online casinos the correct way.
The long standing problem for casual gamblers has been two fold: The value offered on low denomination machines offers a very bad Return To Player (RTP) and additionally is often fundamentally limited by the smallest denomination of any particular fiat currency typically offered. For example, with the US Dollar, the smallest bets allowed will typically be 1 cent. And the RTP may be as bad as 83%-90% for these players whereas the same casino may offer higher RTPs in the realm of 90% to 95% when servicing their higher tiered gamblers which could be construed as unfair by some.
This is yet another problem that has been at least partially solved thanks to Bitcoin and blockchain technology. Bitcoin is divisible by 100 million units. And while a single Bitcoin holds a lot of value, once that large store of value is divided 100 million ways, you end up with units that are quite small in value. A single one of these units of a Bitcoin are known as “Satoshis” which have been so aptly named in part after their inventor, Satoshi Nakamoto.
Similar to how the smallest bets allowed in fiat based online casinos may be 1 penny, the smallest bets typically allowed in online Bitcoin casinos is 1 Satoshi. The difference, however, is that 1 Satoshi is worth far less than is a single penny. Moreover, most Bitcoin casinos offer identical low house edge or high RTP games to their players that retain their high value regardless of whether or not the Bitcoin gamblers bet big or small. In some cases, the RTP can be as high as 98% to 99%, something that is relatively unheard of in the fiat based casino industry.
Penny Slots Done Better
In the quest to gamble for cheap, the allure to win big without risking much money has always been a fan favorite among avid gambling circles. It's more or less the basis as to why lottery jackpots are so attractive: The chance for life changing money without risking too much at all.
And let's face it, casino games without the chance to win real money are never quite as fun as the real thing. Bringing it all together, this is one reason why the Satoshi Bet makes for the ultimate Penny Slot machine game. You can wager just a few Satoshis at a time while trying to score a big jackpot. It can be a very fun and rewarding experience while also not costing very much money at all for the enjoyable and possibly financially rewarding pleasure of slots gambling.
On top of that, there are several providers of online slots games in the Bitcoin world that use Provably Fair technology on their slot machines to guarantee that you are getting a fair shake for your gamble. While not all Bitcoin casinos offer Provably Fair technology, there are a number of them that do. However, this technology is virtually unheard of in the fiat casino world.
Some people are scared of the price volatility that is associated with Bitcoin. But for the users that plan on enjoying some gambling anyway, why not combine the two for a little extra fun? With the differentiation out Bitcoin Vs Dollars out of the way, the comparison between Bitcoin and fiat based currencies will show very easily why Bitcoin and cryptocurrencies are king when it comes to the gambling world for cheap penny casino play.
Casino gambling can be a fun past time that doesn't need to break the bank. There are many hobbies that exist out there in the world for people to enjoy during their recreation hours. And for some, they like to enjoy the thrill of gambling with the chance to win real money without taking serious financial risk. And that is what the Satoshi Bet provides better than virtually any other fiat-based online casino can ever provide.
If you are new to Bitcoin and want to give it a try, don't forget to read our new blog post about how to buy Bitcoin to gamble and enjoy your time on the virtual felt.