Depositing through conventional payment methods using fiat currencies typically requires the involvement of a third party. Not just this, you will also have to give up some of your details to bring the transaction into effect. By implication, your financial transactions, especially deposits cannot be confidential. Thankfully, betting with Bitcoin, Ethereum, Litecoin, Dogecoin, and other cryptocurrencies has ushered in a new era of rising change and comfort in anonymous deposits. You can now deposit at betbit.com and other crypto operators anonymously. Since crypto makes for direct peer-to-peer financial transactions, only two parties are required to effect payments. Third parties like financial institutions, governments, and other forms of intermediaries are no longer needed. This creates the ideal setup for anonymity and privacy. One of the biggest objectives of blockchain technology is cheaper and instantaneous transactions, whether domestic or cross-border. This is why making withdrawals with crypto is great as they are instant. Of course, this is an exclusive preserve of crypto gambling platforms like Betbit Bitcoin Casino. Indeed, the involvement of a third party is the reason withdrawals at casinos and sportsbooks get delayed. Since blockchain technology eliminates the need for these third parties, this leads to faster payouts. This also means gamblers don’t need to pay fees or commissions to have their withdrawals processed. By implication, this allows you to spend more time exploring the robust assortment of games at the iGaming site instead of waiting pointlessly for payments to be effected. Once you register on a crypto casino or sportsbook, you will most likely be entitled to a bonus package as a new member of the site. This is known as the welcome or signup bonus. For instance, Betbit gives its new players a welcome offer of 100% up to 100 mBTC on their first deposit. Playing with cryptocurrency doesn’t disentitle you from enjoying good bonuses and promotions. At bitcoin operators, there are different categories of bonuses you can claim provided you meet the attached terms and conditions. Some of these bonuses and promotions are:

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Casino theoretical win calculation

The theoretical win for a casino is calculated based on several factors, including the game being played, the house edge, the average bet size, and the total amount of time that a player spends in the casino. Here's a general formula that casinos use to calculate their theoretical win:

    Theoretical Win = (Total Amount Wagered) x (House Edge)

Let's break down this formula further:

    1. Total Amount Wagered: This is the total amount of money that players bet on a particular game over a specific period of time. For example, if players bet a total of $1,000 on a slot machine in an hour, then the total amount wagered for that hour is $1,000.

    2. House Edge: This is the mathematical advantage that the casino has over the player for a particular game. It is usually expressed as a percentage of the total amount wagered. For example, if a game has a house edge of 5%, then the casino can expect to earn an average of $50 for every $1,000 wagered on that game.

Once the total amount wagered and the house edge have been determined, the casino can calculate their theoretical win by multiplying these two values together. For example, if players wager a total of $10,000 on a game with a house edge of 2%, then the theoretical win for the casino would be:

    Theoretical Win = ($10,000) x (0.02) = $200

This means that the casino can expect to earn an average of $200 from this game over the long term.

It's important to note that the theoretical win is just an estimate based on statistical probability, and individual players may experience different outcomes in the short term. In addition, some players may have better or worse luck than others, which can impact the actual amount of money that the casino earns from them.

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