Gambling is an entertainment industry that quickly adjusts to new innovative trends. Thus, online casinos immediately appeared once the Internet became widespread and accessible. This significantly influenced the gambling market. Similarly, the current global trend of blockchain technologies has already resulted in the emergence of cryptocurrency gambling platforms. However, bitcoin casinos are still regarded as a debutant in the gambling market. Their popularity is growing daily, bringing irreversible changes to the whole industry. Below we will describe the key features that have turned crypto casinos into a new global trend in the gambling industry.
The first thing that attracts players to gambling platforms with blockchain tech is a wide range of payment options. In bitcoin casinos, you can perform top-up and cash-out transactions in several crypto assets, including Bitcoin, Tether, Ethereum, etc. Blockchain technology avoids additional verification and third-parties approval, making all the transactions instant. At the same time, fiat currencies are also accepted and traditional payment systems, such as bank wire, cards, and e-wallets. However, with traditional methods, payouts are typically more time-consuming.
Extra security and anonymity
The blockchain technology at the crypto gambling platforms provides additional protection to players’ accounts and assets. For example, gamblers can keep their private data confidential while topping up or cashing out via a crypto wallet. This extra anonymity minimizes the risk of hacking and funds loss. Moreover, players from countries with too strict anti-casino policies can bypass blocking restrictions by using crypto.
Gambling options and game fairness
The thing that makes crypto gambling sites even more attractive is an array of various traditional games combined with exclusive blockchain-powered game products. At bitcoin casinos, players can enjoy all the games available at classic online gambling platforms: video slots, Roulette, Blackjack, Baccarat, Scratch Cards, Table Games with live dealers, etc. However, at the same time, such platforms feature Provably fair gaming with bets only accepted in the crypto. The Provably fair sections at Winz.io, for instance, contain Aviator, Mines, Plinko, Dice, etc. These game products are based on blockchain technologies, guaranteeing 100% clear and verified outcomes. As a result, the player’s trust in the gambling platform and a particular game in particular only grows.
Moreover, crypto casinos offer the lowest house edge. You can read more about house edge in this Winz.io blog article.
Bitcoin casinos’ legality
Although crypto gambling platforms provide anonymity for players, bitcoin casinos still act according to legal e-gaming terms and conditions. Therefore, in case of any legal disputes with the casino, the gamblers can apply for assistance from the Government of the country that licensed the casino. Moreover, all reputable casinos allow playing only for users of legal age (18 years old and over).
Crypto gambling drawbacks
Despite all the perks casinos with blockchain tech offer players, there is still room for improvement. The most significant disadvantage of using crypto for gambling is the unsustainable price of cryptocurrencies. As a result, the amount of net winnings depends not only on luck but also on the crypto exchange rates. Moreover, bitcoin casinos do not allow players to use their game accounts as an e-wallet for storing virtual assets. So, if deposited funds in crypto were not wagered at least once, withdrawing requires a fee.
Conclusively, we can surely state that casinos with blockchain technologies are the future of the online gambling industry. Instant and secure transactions, extra anonymity and guaranteed fairness of the games are exactly what gamblers worldwide opt for. Considering the constantly growing cryptocurrencies popularity, it is a matter of time before all leading online gambling platforms fully integrate blockchain technologies. This enables them to provide higher-level game products and payment options.