Philippines Bitcoin Gambling

Online gamblers are always looking for the best edge or the latest innovation. Now, Bitcoin has become commonplace in online gambling platforms, including online casino, poker, sports betting and horse betting markets. Players can now use Bitcoin to fund their accounts using various Philippine online gambling deposit methods. This page centers on Bitcoin gambling in the Philippines and provides information on the basic premise of Bitcoin, including what it is, how it works, the legal stance on Bitcoin, and how to gamble online using Bitcoin.

What Is Bitcoin?

Bitcoin is a digital currency built for the digital world. It runs on a peer-to-peer regulated network that is decentralized, meaning there are no binding attachments to any sort of banks or financial institutions. Bitcoin supports borderless transactions and protects against fraud through its own security protocols. There is no governing body owning or controlling Bitcoin. It is 100% mediated by the people who use it and Bitcoin is open to everyone.

Is It Legal To Gamble With Bitcoin In The Philippines?

Yes. While the Philippines has yet to pass any formal laws regarding Bitcoin, it is one of the first Asian countries to embrace the cryptocurrency. There are official documents recognizing that Bitcoin has the potential to completely revolutionize how financial services work. There was a major Bitcoin event hosted in Manila in January 2018, showcasing how the country has taken the alternative currency in stride.

As far as Philippine legal online gambling goes, Philippine gambling laws state that Filipinos cannot use online gambling sites based in the Philippines. However, they are able to access offshore casinos. As long as the site they are using is legally licensed and regulated outside of Filipino jurisdiction, residents are within their legal bounds.

Philippines Bitcoin Casinos

Philippines legal online casinos that accept Bitcoin feature a robust selection of casino games such as slots, table games (baccarat, blackjack, craps, roulette, etc.), video poker, specialty games and more. They are backed by legal licensing and regulated by a controlling board to ensure compliance. These online casinos have mobile capabilities and live dealer games. You will also find generous bonus incentives that grant players more money to bet with. Free play is a unique feature that allows players to sample casino games without actually wagering any of their own money. Best of all, these online venues accept Bitcoin, meaning bettors can take advantage of all the perks Bitcoin has to offer.

Site NameBonus OfferPayout SpeedPHPlay
Online Casinos
Betonline100% Max $3,00024-48 HoursPlay Now
Sports Betting50% Max $3,00048 HoursPlay Now
intertops-icon100% Max $10048 HoursPlay Now

Philippines Bitcoin Poker

Online poker is popular in the Asian market and the Philippines has been on the map regarding international competition. Philippines legal online poker sites that accept Bitcoin allow players to play in single-game and tournament formats through a downloadable software patch constructed specifically for online poker. You can customize your game settings to filter for pot size, game type, table size and more. Incremental poker bonuses provide an incentive for users to play more hands, and the ability to play multiple hands at once makes it easier. Filipinos will have access to Texas Hold ‘Em, Omaha and more through these sites.

Site NameBonus OfferPayout SpeedPHPlay
Online Poker Sites
Betonline100% Max $1,00024-48 HoursPlay Now
Sports Betting100% Max $1,00048 HoursPlay Now
intertops-icon200% Max $1,00048 HoursPlay Now

Philippines Bitcoin Sports Betting

PAGCOR runs the sports betting market in the Philippines. However, their betting line selection is not as comprehensive as what is offered through licensed offshore Philippine legal online sports betting sites. Philippines Bitcoin sportsbooks host betting lines on sports and leagues from around the world. There are varied wagering types that allow you to mix up your betting strategy. These include point spread bets, totals, money line bets, props, futures, etc. Live betting puts you right in the heart of the action and is available on these Bitcoin-friendly sports betting sites. You will find bonuses in the mobile, live and regular betting sections, including promotions reserved for Bitcoin bettors.

Site NameBonus OfferPayout SpeedPHPlay
Online Sportsbooks
Betonline50% Max $1,00024-48 HoursPlay Now
Sports Betting50% Max $1,00048 HoursPlay Now
intertops-icon100% Max $20048 HoursPlay Now

Philippines Bitcoin Horse Betting

Most legal horse betting in the Philippines is conducted on-track or through licensed off-track betting facilities, neither of which accept Bitcoin. Philippines legal horse betting sites that accept Bitcoin host horse betting action on local and international races online. There may not be as many wagering types as there are in physical betting shops or kiosks, but you can still make a lot of money through Bitcoin gambling.

Site NameBonus OfferPayout SpeedPHPlay
Online Racebooks
Betonline50% Max $1,00024-48 HoursPlay Now
Sports Betting50% Max $1,00048 HoursPlay Now

How To Get Started With Bitcoin

You need to download a Bitcoin wallet first. There are multiple sources for this digital wallet service. Coinbase is a well-known cryptocurrency exchange service that provides wallets, but there are countless others that can get the job done. You can also download a Bitcoin wallet for your mobile device. Once you have a Bitcoin wallet, you can purchase Bitcoin via traditional payment methods like your credit/debit card, bank transfer, etc. Exchange services do provide wallets, but it is not their primary service. Most sites recommend you to store your Bitcoin in a secure wallet outside of the es-change service, especially if you are storing high amounts of Bitcoin. When you have your wallet and Bitcoin, you can easily send or receive money using either public or private keys to authorize transactions.

Bitcoin Applications

Bitcoin is strictly an online currency. Other digital currencies such as Ethereum have multiple applications for development and so forth, but Bitcoin’s primary function is to serve as money. The number of online vendors accepting Bitcoin has increased drastically over the last few years. Bitcoin has moved into the gambling sector and is a hit amongst the online gambling community. It comes with several financial advantages but is also secure and anonymous.

Bitcoin does have an interesting application regarding gambling known as Provably Fair technology. This technology allows users to test the fairness of their games in real time using a series of hash values. For example, players can see 2 of the 3 values that make up the roll (the player seed and the total number of bets). The server creates its own seed which is private to the player. These 3 pieces make up the cryptographic value and the player will receive the server seed at the end of each roll so they can confirm the server used that value in the turn. Provably Fair is native to Bitcoin casinos and works with slots and table games. It creates a sense of transparency between the player and the casino, something that brick-and-mortar venues cannot provide.

Benefits Of Gambling With Bitcoin

  • Bitcoin is secure – Bitcoin wallets are designed to be protected against hackers. The blockchain itself was built to avoid any sort of fraudulent activity associated with traditional payment methods.
  • Bitcoin is anonymous – Bitcoin transactions can be sent using your wallet’s private keys. The only information sent over with transactions is the amount of Bitcoin and the unique digital wallet address. There is no personal information tied to the transaction.
  • Bitcoin transactions are fast – cryptocurrency transactions are the fastest because there is no waiting for a bank or financial institution to verify them. Miners are constantly verifying Bitcoin transactions on the blockchain, thus ensuring speedy times.
  • There are no additional fees – traditional deposit methods may come with attached fees on deposits and withdrawals. Since Bitcoin is not a part of any centralized or regulated banking system, there are no entities that can take a percentage of your winnings.

Bitcoin Gambling FAQs

Can I Store My Bitcoin With A Gambling Site?

In theory, yes, but it is advised not to. Bitcoin wallets are inherently secure and are better protected against cyber-attacks. Plus, having your Bitcoin in a wallet will allow you to use it on other products or services besides gambling.

Will There Ever Be Licensed Philippines Online Bitcoin Gambling Sites?

Possibly, The Philippines seems to be pro-Bitcoin, so it is not far-fetched to imagine that they will eventually develop and license their own Bitcoin gambling sites.

Will Bitcoin Appreciate In Value?

As with any investments, this cannot be said with too much certainty, but Bitcoin seems to be on the rise. There was a considerable spike at the end of 2017 and some analysts believe Bitcoin’s ceiling will keep rising. If this is the case, your gambling winnings could increase without you placing more wagers.

Who Created Bitcoin?

Bitcoin was supposedly invented by Satoshi Nakamoto, though no one knows if that is a person or represents a group of people. Nakamoto released the open-source software in 2009.

Are There Other Cryptocurrencies I Can Use To Gambling Online In The Philippines?

Yes.  Other popular and widely accepted digital currencies include Ethereum, Litecoin, Ripple and Dash.