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The Bitcoin deposit bonus is typically the most popular of the promotional offers and are now widely available at online gambling sites that accept other forms of payment besides cryptocurrency as a means of encouraging Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other crypto payments.
Deposit Bonus
The deposit bonuses are normally between 50% – 200% of your first deposit and are common ways of attracting players.
Typically, in order to claim these bonuses you will need to play through a certain number of times that bonus amount. For example, in order to claim a FREE US$200 bonus, you might have to gamble 10X or $2000. It's not uncommon for an individual to lose his or her initial deposit enroute to claiming this FREE money. It is also not uncommon to have to play 20X to 30X the amount of your initial deposit.
Keep in mind also that some of these bonuses are in the form of FREE PLAY, meaning you can only bet with the additional money. This isn't necessarily a bad thing as the money can be turned into something much greater for you to withdraw.
Finally, the last ace up most online casinos sleeve is imposing a ticking clock – if you do not wager the required amount in a certain time period (usually 2-4 months), your deposit bonus will be forfeited.
Using Bitcoin and Other Cryptocurrencies
The online betting site of your choice will have you send them the special address/token obtained from the Bitcoin wallet or exchange.
You would select either SEND (to deposit funds) or RECEIVE (to withdraw funds).
It is always recommended to use a Bitcoin wallet in order to ensure complete anonymity.
Some exchanges allow one to connect to their bank accounts. The Bitcoin can be converted into the currency of your choice then transferred into your account in as little as 24 hours.
- Aaron Goldstein, Gambling911.com
