Top Bitcoin Poker Sites

With cryptocurrencies becoming more and more popular, there are now increasing numbers of poker sites that accept Bitcoin as a banking method. There’s no denying crypto is a popular form of payment for many poker players around the world, but what if you’re looking for a Bitcoin poker site in the UK? 

This guide provides an overview of the current UK crypto poker situation. We cover the ins and outs of using Bitcoin to play at online poker rooms and look at the top variations of the card game available on your computer and mobile device right now. 

What is Bitcoin?

Created in 2009, Bitcoin (BTC) is a decentralised digital currency. In other words, it exists entirely online and is not issued by a central authority like a bank. Instead, Bitcoin is based on peer-to-peer transactions which are all securely recorded on a digital public ledger known as the blockchain. 

The use of complex cryptography to validate the transactions, together with the fact that the blockchain is fully transparent, unalterable, and hosted on a vast network of computers around the world, safeguards the system from cheats and hackers.

How Can I Get Bitcoin?

There are several options for using British Pound Sterling (GBP) to buy BTC. Specialist Bitcoin brokers can be a good option for newbies, as they can provide support and advice on trading and investing in cryptocurrencies. You can also purchase Bitcoin yourself using a cryptocurrency exchange like Coinbase, Kraken, or Gemini. 

Using a cryptocurrency exchange is fairly straightforward. You just create an account, link a preferred payment method, and select how much Bitcoin you’d like to buy to make the purchase. Your BTC assets can then be withdrawn to a cryptocurrency wallet, of which there are two main types. 

You can keep your crypto in a ‘hot wallet’ that’s connected to the internet. This might, for example, be a web-based wallet run by a third party, or a wallet app you download to your desktop or phone so you can hold your assets yourself. Alternatively, you can store Bitcoin using a ‘cold wallet’, which isn’t connected to the internet, such as a USB-style hardware device.

It’s now also possible to transfer and convert traditional fiat currency from Skrill and Neteller accounts to crypto wallets. This may be a useful option for poker players who already make gambling deposits using these popular e-wallets.

Gambling with Bitcoin in the UK

Any online casinos and poker rooms legally operating in the UK have to be licensed by the United Kingdom Gambling Commission (UKGC). While the UKGC is theoretically open to Bitcoin being used as a banking method at casinos or online poker sites, operators must meet the regulator’s strict standards of integrity to be granted a licence. 

In a statement regarding crypto payments, the UKGC has said “we need to be satisfied that any licensee considering accepting such payment methods has considered and implemented steps to reduce any risk to the licensing objectives to the same level that we would expect from other payment methods”.

At the moment, only unlicensed offshore sites allow people in the UK to play poker for Bitcoin. Since they’re not legally operating in this country, and don’t necessarily abide by the regulatory standards of the UKGC, playing crypto poker at such sites puts you at risk of rigged games and unfair terms and conditions. 

As unlicensed operators aren’t legally accountable in the UK, you may be left helpless if they refuse to pay or, worse still, steal your money. For all of these reasons, it’s highly recommended that poker players stick to UKGC-licensed sites, even though they don’t currently accept Bitcoin.

Pros and Cons of Using Bitcoin to Play Poker

Just like any other payment method for online poker sites, Bitcoin has both benefits and drawbacks. Let’s take a look at some of the key advantages and limitations of using Bitcoin to fund your online poker account:

Pros

A big perk of playing Bitcoin poker is that it removes any need to provide personal information at online casino sites. Your Bitcoin address, which indicates the source of the payment, will automatically change with each transaction you make, so there’s no way for anyone to track your activities on the blockchain. 

Fees are also low – if not absent – because Bitcoin is entirely decentralised, with no third-party imposing transaction fees or conversion rate costs. What’s more, online poker providers will often process Bitcoin withdrawals faster than other banking options, so you can potentially have your money as soon as the transaction is verified.

Cons

Given that Bitcoin is completely independent and relatively new, it’s much more volatile than traditional currencies, so its value is subject to dramatic fluctuation. This means your Bitcoin poker winnings can abruptly rise and fall in value. 

The other drawback with Bitcoin is that it requires poker players to do a bit of homework. You’ll need a working knowledge of the world of cryptocurrencies and digital wallets, complete with all the jargon involved. 

Perhaps the most significant downside for people in the UK, however, is the fact that Bitcoin has yet to be rolled out as a payment method at licensed online poker sites.

How to Deposit Using Bitcoin

As mentioned above, you can’t currently play at licensed UK online poker sites using Bitcoin. If the situation changes in the future, however, these are the steps you’ll be able to follow to enjoy crypto poker: 

Cashing Out Using Bitcoin

Withdrawing funds from a BTC poker site works in much the same way as deposits: 

Alternative Payment Methods to Bitcoin

Although poker sites that accept Bitcoin have yet to be licensed in the UK, there are plenty of ways you can currently manage your online poker funds – some of which provide similar benefits to crypto deposits and withdrawals. Some of your options are Paypal, Skrill, Neteller, Paysafecard, and debit cards.

What to Play

As you probably already know, there are numerous poker games and variants to choose from. The basic objective is almost always the same – create the best possible hand according to standard poker rankings – but the specific gameplay can vary immensely. Here are three of the most popular variants you’ll find at both traditional and Bitcoin poker sites.

Texas Hold’em

The world’s most popular poker game, Texas Hold’em requires you to create the strongest possible five-card hand using your preferred combination of two initial hole cards and a series of community cards that are dealt across several betting rounds. This culminates in a showdown, where players who haven’t folded reveal their hands to see who the winner is. 

Omaha

The gameplay for Omaha is very similar to Texas Hold’em, with a few significant differences. You’re dealt four hole cards at the start, rather than two, and your hand must consist of two of your hole cards and three of the community cards. In other words, the gameplay is a little less flexible compared to Texas Hold’em. 

Seven Card Stud

Before Texas Hold’em swept the scene, this was the predominant version of the game. Still a popular choice amongst online poker players, Seven Card Stud takes community cards out of the equation. Instead, players create their best hand from cards that are dealt across the betting rounds, with some cards face up and some face down. 

How to Stay Safe with Bitcoin

Although the Bitcoin blockchain is a highly secure system that’s resistant to hackers and scammers, individual crypto users still need to be vigilant when it comes to their own assets. Here are some tips to keep in mind:

• Ensure you only use reputable cryptocurrency wallets with good standing in the industry. Activate two-factor notification (2FA) for accessing your account, if possible.
• While using hot wallets is convenient for making regular transactions with poker sites, it’s advisable to keep any crypto savings on an offline hardware device (or cold wallet). This makes it impossible for hackers to get at your money.
• Write your crypto wallet account’s unique recovery phrase by hand on a piece of paper, and keep it safe. This will mean that if the worst happens – e.g. device theft or failure – you’ll be able to access your Bitcoin at a new wallet account using this recovery phrase. Never store the phrase anywhere online or on your computer.
• Never share the private keys associated with your Bitcoin assets. Only your wallet’s public address should ever need to be provided for crypto transactions.

Ready to Play Online Poker?

If reading about Bitcoin poker has you in the mood to play Texas Hold’em, Omaha, and other versions of the card game yourself, you’re on the right site. Although crypto sites are still awaiting the official green light from the UKGC, we can point you in the direction of the very best licensed online poker operators in the UK. This makes it easy to compare welcome offers and sign up to enjoy poker tournaments or cash games whenever you like.  

See our references & visit related external links

Please note that Compare.bet is not responsible for the content of third-party websites.

1. Gamblingcomission.gov.uk – ‘Blockchain technology and crypto assets’
2. Paysafe.com – ‘Skrill launches new fiat-to-crypto withdrawal service’
3. FXnewsgroup.com – ‘Paysafe’s NETELLER introduces fiat-to-crypto withdrawal service’