The online gambling industry thinks it was like forever, but only in the last 20 years or so it has been considered normal to place bets and play real money online games. The reason it seems so old is that it has experienced several major evolutions over the years, from instant gaming games to web wallets and mobile games.
The most recent innovation relates to cryptocurrency. These coins offer a lot of benefits to online gamblers and so they are being embezzled by more casinos and more players than ever before.
Here’s why Bitcoin Casino is now on its way to surpassing traditional themed payment casinos.
It’s fast and safe
Online casino players are desperate for quick and easy ways to process their winnings. Deposits are instantaneous, and they demand the same benefits in case of withdrawal.
Unfortunately, this is not always possible with traditional therapeutic payment options.
Even if the casino processes your withdrawal directly, a bank transfer can take 5 days, a debit / credit card can take approximately 3 days, and most web wallets instantly, the hassle of opening an account and verifying your bank account / identity is awkward. Makes the process slow.
With Bitcoin and other cryptocurrencies, you just have to get a wallet and you better go. You can buy Bitcoin from a currency exchange or ask your friends to send it to you. They are very quick and easy, and have been crying for the players for that.
It is (somewhat) anonymous
It is often mistakenly believed that Bitcoin is completely anonymous. It’s not just that, and the blockchain keeps track of some payments. However, it is still one of the most anonymous options for cautious online gamblers.
Unlike web wallets, debit cards and credit cards, a crypto wallet is not linked to a bank account or home address. No one will know your name, address, phone number or bank account. If you’re worried about yourself and your habits there, Bitcoin may be what you’re looking for.
Bitcoin is hard to escape
Bitcoin was on a rollercoaster ride in 2021, but it seems to be finally returning to the heights achieved in 2020. Wants Owner.
There are some people who complain about cryptocurrencies and openly say that they don’t think these currencies are the future, just before they admit that they have “little cases”.
It’s hard to stay away from it, and for many, finding ways to use those coins is a great way to keep them interested. We are not saying that Bitcoin gambling is a good way to increase your investment, because there is no guarantee that you will win, and you should never think like that.
But if you are playing slots with BTC and betting sports with them, you will use them on a consistent basis and it will encourage you to invest more, learn more and keep your ears on the ground.
Merchant fees are low
There are many hidden fees associated with online casino payments, especially if you are using debit cards and credit cards, but also for bank transfers and web wallets. It’s something that many players ignore because they can’t see things from the other side, but it’s a huge stumbling block for online casinos.
A casino is expected to pay a merchant fee each time a transaction is made. After all, someone has to pay for that secure server and transaction and this applies to both deposits and withdrawals. This is true for all online retailers and service providers, but it is even more problematic in the online casino industry, as many of these deposits require currency conversion.
The result is that casinos can lose a few percentage points for each transaction and while that may not be too much, we are talking about companies that process millions of transactions a year.
It all adds up, and so they are desperate to keep those numbers as low as possible.
That’s where cryptocurrency comes in.
Crypto does not require expensive merchants and although there are services to make life easier, they do not charge as much as other merchants.
In other words, not only are players interested in using cryptocurrencies to gamble online, many online casinos are just as excited, and it will certainly see these coins go far beyond traditional themed payment options.
Image by Bruno / Germany from Pixabay