The gambling industry was always the first to adapt to new tech developments and to find ways to provide a new way to play. The same happened with the introduction of cryptocurrency. It allowed for anonymous and fast payments and players started using it as an alternative to traditional currency.
Live casinos are just as popular as they mimic the experience of visiting a casino from the comfort of your own home and mobile device. In this article, we’ll explore the rising popularity of live Bitcoin casinos and try to predict where this trend is going, in the years to come.
What are Crypto Casinos?
Crypto casinos are online gambling sites that use crypto as a payment method. When it comes to the games they provide and the chances of winning, they are the same as with traditional fiat currency.
These casinos also offer tournaments and special events for the high rollers. A crypto casino provides bonuses for both new and loyal players and these come with wagering requirements attached, so you can’t just cash out the bonus and not play.
BTC casinos are increasingly popular with young and tech-savvy players, as they combine the advantages of cryptocurrency with the traditional casino experience.
What are Live Events?
Live events are online casino games that players can play in real-time. It includes all the games that you could otherwise play online and with the same rules. The most popular of such games are poker and blackjack since they allow the players to play as they would if they were actually in a casino.
Live casinos are increasingly popular since they allow players to experience the look and feel of going to a casino while playing at home. With the introduction of VR and AR, such games are starting to replace actually visiting a casino.
Using the Bonuses
BTC casinos offer generous bonuses for new and loyal players. These are also paid in BTC and work just as any bonus paid out in fiat currency would. The bonuses can multiply the deposits you add to your casino account or they can come in the form of a free spin for slots.
Many players find these bonuses to be useful not only as a way to get their foothold in online betting but also as a way to earn BTC without mining or investing in an exchange. This exciting opportunity attracts new players.
Being Anonymous Online
One of the most important benefits of using BTC casinos comes from the fact that you can bet online without having to reveal your own name or personal data. This is becoming increasingly useful as online privacy occupies more of the player’s time and thinking.
When you’re gambling using traditional fiat currencies, you’re obligated to divulge personal information such as your name or your bank account. With BTC, however, all that is necessary is access to your crypto wallet through an email connected to it.
Fewer Fees
Playing in a crypto casino comes with lower fees for transferring the funds to and from the casino account. That’s because playing with Bitcoin doesn’t require any third party to transfer the funds. All that you win is yours to keep and transfer to your e-wallet right away.
On the other hand, playing with traditional fiat currency requires the player to pay fees when transferring the funds to and from the casino account. This can add up if you’re playing for small amounts and the fees take a big chunk of your winnings.
Having Quick Access to Funds
BTC is easy to store and transfer. The funds you deposit to and from your casino account are yours to use right away. With traditional currencies, there’s a waiting period and especially so when you’re withdrawing funds from a casino to your own account. Most of the younger players prefer the speed and convenience of using cryptocurrency.
Keep in mind that this feature isn’t always a benefit. Being able to transfer the funds right away may tempt some players to add more funds to their accounts. Chasing your losses is never a good strategy and it’s best to take measures to prevent this from happening.
Making Microtransactions within the Games
Casinos that use cryptocurrencies such as Bitcoin or Ethereum allow the players to make microtransactions within the game. These are automated and safe, meaning that they are tied to a certain outcome of the game. That way the payment only gets made if the set conditions are met.
It provides a way to combine casino games and computer games. Gamification of BTC casinos makes them more interesting and attracts younger players that want a portion of both worlds in their casino experience. It’s also useful for players to learn about odds and payment rates within these in-game features.
Rising Markets Abroad
Cryptocurrencies can be used all over the world. They don’t rely on any centralized national bank. That means that you can use them to bet regardless of where you’re based. It opens up a lot of new markets and allows players to take part in the betting and increase the overall pool of players. It makes the games more interesting and more competitive. Notably, even financial giants like BlackRock are entering the game of crypto and Bitcoin, highlighting the widespread acceptance and potential of these digital assets.
Some countries still limit access to casinos and some even limit access to particular payment methods (such as digital wallets). Bitcoin and other cryptocurrencies bypass these restrictions and allow everyone to play regardless of regulations.
Fair Outcomes
Live Bitcoin casinos always have fair outcomes. This is because the payment is tied to the code of the blockchain behind the cryptocurrency. It also allows every player to inspect the code and therefore make sure that the game is fair. For those who want to choose a trusted platform, looking at up-to-date Bitcoin casino reviews can be invaluable. Since the game is played online and sometimes in casinos based abroad, this feature keeps everyone honest and guarantees fairness.
The games played in a live Bitcoin casino still have an edge in favor of the house, as all casino games do. It’s therefore essential for players to learn about these and to get into a game based on statistics and firm knowledge of what your chances are. Such information is available in the casino itself and in many other online resources.
Communal Experience of Live Casinos
Live casinos have the added benefit of being played in real time and against real players. This is one of the reasons so many players are using these casinos. It provides a communal experience allowing players to talk to each other and react to the gameplay as it happens.
This somewhat mimics the experience of actually visiting a casino and is often more engaging than playing against artificial intelligence. Young players in particular prefer live Bitcon casinos to going to an actual on-the-ground gambling establishment.
Conclusion
Live crypto casinos are becoming very popular and taking over when compared to any other casino. This is because of the many advantages that come with using cryptocurrency as a payment method. It makes payments faster, safer, and more private. All of these features are attracting young players and for many Bitcoins are replacing traditional currencies.
Live games are played in real-time and against real players. This makes the player feel as if they are playing in an actual on-the-ground casino. It’s one of the biggest reasons Bitcoin live casinos are so well-liked.
Source: https://en.cryptonomist.ch/2023/10/13/soaring-popularity-crypto-casino/