Gambling is as old as humanity itself. People across the world have always gathered to play a game of chance. And like all other industries, gambling has significantly evolved over the years. The brick-and-mortar casinos are almost being overtaken by online casinos, thanks to the internet, which has greatly improved access to all kinds of casino games.
In addition, cryptos like Bitcoin and Ethereum are taking over the currency markets in place of fiat currencies. The casinos have also adopted this currency as a mode of payment. Their edge is great transaction speeds, low transfer costs, transparency, anonymity, and security from hacking. As you think of engaging in crypto gambling, it’s worthwhile to be aware of the latest developments in the field. This article highlights the trends in crypto gambling.
- Greater acceptance among online casinos
Numerous online casinos and betting sites have adopted crypto as payment. You can now deposit cash into your account directly from your crypto wallet and also withdraw winnings in cryptocurrency. The most common cryptos used aside from Bitcoin and Ethereum are Litecoin, Ripple, Dash, and Monero. Crypto payments are becoming popular because of the following reasons.
- Fast transactions: Once you win a game, you can instantly withdraw your winnings and have them in your account within fractions of seconds. This is unlike other withdrawal methods, like credit cards or bank wire transfers, wherein you must wait for the three-to-five-day maturity period to receive your cash. That’s a relatively long time by today’s standards.
- Offers variety: Online crypto gaming sites provide you with wide-ranging selections of games to play, which keeps you entertained. For instance, you can find thousands of crypto slot games on Stake, including the renowned Fruit Party and King Carrot.
- Offers anonymity: With online crypto gambling, you can now choose not to reveal your identity and personal information to the casino. This currency allows you to authorize payments without showing your name or other personal data.
- Adoption of mobile gaming
You always have your phone or tablet in tow wherever you go. Thus, accessing casino games and betting sportsbooks through these devices is a convenience everyone desires. The crypto gambling market has seen a rise in gaming apps and mobile-friendly versions of online casinos. These applications enable you to place bets from anywhere at any time. As a Bitcoin casino sportsbook, Stake is industry leading with a user-friendly mobile version of their site, giving you 24/7 access to numerous games.
- Virtual reality gaming
As a gamer, by now, you should’ve interacted with virtual reality (VR) gaming that gives an immersive experience. Gambling isn’t only a way for you to make money and entertain and socialize with others.
Hence, most providers are now looking to introduce VR casinos where you’re plugged into the gaming floor and play using a VR headset and an iGambling platform. This allows you to enjoy betting through a lifelike experience and interacting in real-time with the other players and dealers.
- Live online casino
Another notable trend in crypto gambling is live dealer games. These allow you to interact one-on-one with the game moderators when gambling. That human touch gives online crypto gambling life. As such, it becomes just as exciting as visiting a land-based casino.
To reiterate, betting shouldn’t be boring. As you chase the wins, it’s also good to entertain yourself by socializing and chatting with the live dealers. Live dealer games offer you exactly this and eliminate the boredom of dealing with silent machines or automated bots.
- Stricter security measures
The internet is full of malicious people who want to steal your hard-earned money. Thus, as much as cryptocurrency transactions are relatively highly secure, crypto gambling sites enforce sophisticated measures to ensure your online security.
For one, casinos have implemented biometric and password measures online to prevent fraud. This ensures you use your account alone, and thefts can be flagged.
Additionally, crypto gambling casinos are on a mission to eliminate identity theft cases. This is where someone steals your personal data and uses it to benefit themselves while pretending to be you. Crypto gambling protects you from anyone using your account while impersonating you. It also rids the usual fiat currency security risks like stealing cards.
All these advancements in security measures will ensure your betting environment is secure and safe.
- Introduction of regulatory requirements
As crypto is a fairly new form of currency, some governments are still in the process of developing regulations and laws to govern crypto gambling. It’s best to play on fully licensed sites to reduce the risk of losing your money to fraudsters. The government’s involvement ensures that only trustworthy and renowned crypto casinos have an online presence.
Remember, some countries prohibit online crypto gambling. So, be sure you’re aware of your local laws to avoid being caught on the wrong side.
Conclusion
Crypto gambling is speedily gaining ground because of its high-security standards, anonymity, and fast transactions. And the good news? You can play virtually any casino game and bet on any sports with your crypto coins. The advancements discussed above will allow you to experience seamless, safe, and simple betting experiences. Try it now.
References
Anderton, Kevin. “The Future Of Remote Gambling [Infographic]” Forbes. Last updated October 2018. Accessed June 2022. https://www.forbes.com/sites/kevinanderton/2016/10/24/the-future-of-remote-gambling-infographic/?sh=76b01d45324c
Lutkevich, Ben. “Identity theft.” Tech Target. Accessed June 2022. https://www.techtarget.com/searchsecurity/definition/identity-theft
Reiff, Nathan. “What Are the Advantages of Paying with Bitcoin?” Investopedia. Last updated July 2022. Accessed June 2022. https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp
Seth, Shobhit. “The 6 Most Private Cryptocurrencies.” Investopedia. Last updated May 2022. Accessed June 2022. https://www.investopedia.com/tech/five-most-private-cryptocurrencies/