We are living in a world of digitalisation.
In a world of innovation and technology, we are gifted with the Blockchain, and that has given us the opportunity to use the most interesting and exciting digital currency – Cryptocurrency. Cryptocurrency is the ‘new normal’ in the online world, and it also has a big impact on the gambling industry.
Online gambling nowadays is increasing rapidly and has no sign of downfall, particularly with the introduction of mobile apps such as the NY sports betting app. In addition, online gambling is now using Cryptocurrency to increase its anonymity and flexibility. Online gambling has increased in recent years, and the data suggested in 2019, the revenue was £49.4 billion. That number increased further in 2020 by £6.7 billion. Moreover, the estimation of gambling industry revenue is increasing massively.
How Is Cryptocurrency Helping Gambling To Increase?
Cryptocurrency launched in 2009 with Bitcoin as its first digital coin. Within two years from the date, they entered the market of gambling. Around 2014, few casinos were able to licence Crypto.
Moreover, by 2021, the world will acknowledge the experience of Crypto with eSports gambling. Here we will discuss the key benefits or ways of Cryptocurrency that have held the fortune for gamblers so far.
In addition, apart from gambling, you can also use Bitcoin for your quick investment purposes through bitcoin prime.
1. Exchange Medium
Keeping the risk aside, if you find something new to use, would you not be excited?
That’s the case with Cryptocurrency in gambling. Cryptocurrency has allowed casinos to use Crypto coins for exchange purposes. For instance, gambling sites which accept Bitcoins can accept tokens and also offer you a free spin with Bitcoin deposits.
Moreover, Bitcoin is easy to use, as easy as Paypal or a credit card.
2. Privacy And Anonymity
If you ask someone about Cryptocurrency, the first thing that comes to their mind is the anonymity of Cryptocurrency. Everyone wants to keep their financial activities secret.
Gambling is not a profession for all, most people do it as a hobby and want to keep it secret from others.
How? Through Cryptocurrency, you will be able to keep all your transactions secret, and no one can track or find the transaction details and source so far. This is so far the most interesting thing about Crypto with its decentralised process.
3. Protection And Security
The online gambling industry has a bad history of theft, manipulation and fraud. Here come the decentralisation aspects of Blockchain again.
With the Blockchain process, no one can track or hack your transaction or game. Previously, it was possible for hackers to end a game in the middle but shutting down the game with the Blockchain process is not possible.
You can only add blocks to the game, but if someone is willing to continue the game, no one can stop that person. Crypto is meant to be the future of the gambling industry, and these features support the statement.
4. Quickness And Convenience
Suppose you have no balance on your debit card and you don’t want to push for a credit card; then Cryptocurrency is the only easy path left for you.
In addition, with Crypto, you can process speedy transactions and hassle-free transactions. In all the other processes, you might have to wait too long if some server issue occurs with your bank.
But that doesn’t count while you are playing with Bitcoin.
5. Potentials Of Investment
Cryptocurrency added a key benefit for the users with the protection of the player’s fund. The gambling industry was always exciting for the player, but after the invention of Crypto, it has been more intensive for the players.
The craze of Crypto has increased the number of players on gambling sites. The enforced rules of Blockchain allowed the game to change the whole process and make it more exciting for gamblers.
Cryptocurrency in gambling gave the users a huge plus because it has added opportunities and removed risks for the players so much.
Why Not Gamble With Crypto?
The above-mentioned features of Cryptocurrency have increased the vogue of gambling. After reading this article, you can try out for yourself the more interesting things about Cryptocurrency in online gambling.