The new phenomenon in the online casino business is the usage of cryptocurrencies instead of real cash. Most players did not have any clue about this case; that is why we decided to expand on this topic and talk about crypto casino platforms. There are various forms of cryptocurrency. Online casino platforms employ these values and add that to their payment methods. Crypto casinos may be a new tradition, but experts estimate that more and more players will eventually switch to these platforms from traditional ones.
The cryptocurrencies have been flourishing for over a decade, and these types of online business platforms want to get an advantage by using them. Besides, that bitcoin casinos and overall crypto casino platforms are safer than any other online gambling platform. Let’s discuss one of the main assets regarding cryptocurrencies- Bitcoin casinos and then explain how the crypto type of gambling platforms operate.
What are the Bitcoin Casinos USA?
Bitcoin is the most popular cryptocurrency value in the world. The various platforms use this value as payment methods. While a few online casinos switched to fully bitcoins casinos in the USA, others include this as an additional option for users. The number of online casino platforms that are going to offer gambling games with cryptocurrency as the primary payment method, is going to increase in 2020. Crypto casino platforms generate massive cash because of the high demand by players from all around the world. Whether they are operating and provide services to all the customers from different parts of the globe, every crypto casino platform should be subject to local laws where they registered as an entity. Through bitcoin transactions, crypto casino platforms allow players to bet on a variety of services. They can put their bitcoin money on:
- Spread betting
- Sport based betting
- Live betting
There are several bitcoin casinos on the web that you can find easily. For example, Bitcasino, BitLotto, Strike Sapphire, Bitzino, Swichpoker, Satoshibet, Satoshidice, Riversweeps Platinum are among them.
How do Crypto Gambling Platforms operate?
For any online casino platform, the essential part of the managerial and operational standpoint is the online casino software. It is impossible to think of any gaming platform without respective software usage. Just like other casinos, crypto gambling platforms operate through crypto casino software. Most of the massive casino platforms that have a wide range of players offer their crypto gambling software and develop it by themselves for better service. Other significantly smaller brands usually purchase this software or rents some versions that they need to operate in this business. After purchasing it, they add customized features, design, and interface and provide it with users.
Crypto software for gambling is not different from online casino software. The only visible difference is that they have more flexible payment methods, which includes cryptocurrency as well. Though, there are some casino software developing companies that offer the same services in a more engaging format.
Why is Crypto Gambling Software essential?
Crypto gambling software is essential for these types of casino platforms. The software runs the games and conducts them without human intervention. It is fair to say that, they are very successful in doing that. For online casino games that need a human intervention just like in brick and mortar casinos, gambling software plays the role of that human. For instance, in blackjack or poker, it works as a card dealer. Many players are skeptical about cryptocurrency in general. Those players do not want to spend time in these casinos because they are suspicious about fairness and such issues. The gambling software in crypto casino platforms ensures those players that it is based on the Random Number Generator system.
So, that means house edge or casino cannot rig the system and get an unfair advantage over players. After players see this process and understand the functionality of the crypto software, they become less hesitant to play those games. Other than that, peer top peer reference plays a massive role in shaping the audience for crypto gambling platforms. The most popular and played game in crypto gambling platforms is live poker. The number and popularity of other casino games on these platforms is expected to increase in the following years.
Why Crypto Gambling Platforms gain popularity?
There are several advantages to crypto gambling platforms over traditional ones, which led to the increasing popularity of these casinos. Anonymity is the most potent advantage that they got over other casino platforms. Players can play with cryptocurrency values, and even Satoshi Nakamoto, who is the founder of the Bitcoin, cannot see the personal information of the owner while players use these cryptocurrencies. Transaction fees are another reason that crypto gambling platforms have the edge over traditional online casinos. While you use visa/master or cash, eWallet for payment in online casinos, you need to pay additional amounts as a transaction fee.
Though, cryptocurrency values that you can use in a gambling platform do not have any additional fee for transactions. The digital nature of this business helps to spread the idea around the world and gain the audience quickly. In online gambling sites, some of the games customized with tweaks in their respective rules. It is hard for authorities to follow these acts in the crypto casino model rather than the ones which use the traditional type of payment methods. That also can be a reason why crypto gambling gets recognition and popularity recently.
Why Bitcoin Casinos are difference makers?
Traditional online gambling platforms use conventional payment methods such as Paypal, Skrill, Neteller, Visa card, Master Cards, and so on. It is possible to track those players and those transactions because casino operators can access information regarding them. Though in bitcoin casinos, it is almost impossible to track them because of the anonymity. The anonymity factor helps players who want to play gambling games though they are living in countries where it is prohibited by law. The verification and audit by international organizations such as eCogra or local governments become a challenge in the crypto type of online casinos. Registration to the bitcoin gambling platforms requires less information from players, and that makes it even harder to track the users on the web who play these games. While making a player’s job a lot easier than before, bitcoin casino platforms created another challenge for authorities.
Pros and Cons of Crypto Casino Platforms
Usage of crypto values in online gambling platforms increased rapidly as soon as bitcoin hit the market and became popular. There are a lot of aspects that most people cannot agree upon these casinos. The anonymity and safety are crucial for crypto gambling. However, while thinking of a digital currency that officially belongs to no one, it scares most players. Once some fraudulent criminals accessed your account, stole your bitcoins, and regular money, you would not be able to sue them.
For this part, gambling players are hesitant to fully switch from cash to digital. On the other hand, players from the countries where it is strictly illegal to offer or play gambling games, take advantage of these platforms and digital currency. While choosing the crypto casino, make sure that they are legal and has certificate/licenses from official bodies. It is a matter of choice whether you should or should not use these digital currencies in online gambling platforms. As long as you enjoy the game and earn prizes from time to time, there is no need to mess up your way of playing.
Because of the challenges that are mentioned above, it is prohibited in the United States to play and operate the Bitcoin type of online casino platforms. Most of the crypto gambling platforms that you may encounter are incorporates outside the border of the USA. It is hard for authorities to regulate these casinos; that is why most countries made it illegal.
Online gambling, whether it is based on traditional payment methods or crypto casino model, has always been a debatable topic for legal entities. Though, players who love to play games like this idea of cryptocurrency usage in gambling games too. While it is always exciting to play online casino games, keep in mind the legality aspects, and play safe.