Crypto casinos: The Bond Between Gambling and Crypto
The adoption of crypto currencies is still an overwhelming experience for the mass population, due to the confusing knowledge of this technology. This fact was confirmed by the results of a study conducted by one of the biggest banks in the Netherlands, ING. But, the study also discovered some interesting facts. The respondents from the developing countries seem to know more about crypto than their peers from the developed ones. However, the ones that knew very little about these currencies were the most enthusiastic on the subject. Some of them admitted they currently own crypto currencies. The growing potential of the blockchain technology is evident. And there is one industry that’s embracing it the most – the gambling industry. Try searching for crypto casinos online and you’ll get the gist.
Why is gambling industry so fond of crypto?
The answer lies in the nature of these digital assets. Anonymity and untraceability of transacted funds provided by the so-called privacy coins, is one of the main factors that make them so appealing to the gambling community. This past time (or obsession for some) is sometimes frowned upon, and in some cases even problematic. Especially when government tax agencies peek into your gambling account. So, people usually try to keep their gaming activities below the radar. And crypto helps them to literally buy their peace of mind and enjoy betting and gambling smoothly.
Crypto casinos offer added privacy and security
Crypto currency payments are completely private. You will never see a record of purchases made with crypto assets. Additionally, some casinos start demanding less sign-up information due to the adoption of blockchain technology. At online casinos users need to provide identification, but some crypto casinos only require an email address. This is very convenient for users who worry about the possibility that someone may steal their sensitive information. Therefore, it’s evident that one of the key factors for adopting crypto in the online gambling industry is the additional layer of privacy and security.
Crypto casinos are faster in withdrawals
Another huge advantage of these currencies that led to establishing a whole new category in gambling – crypto casinos – is the speed and the cost of transactions. Especially those in withdrawal processes. As you are probably aware, a withdrawal process from a regular online casino can take at least 48-72 hours. And you’ll lose part of the money in bank, card, or other payment processing means’ fees.
The online gambling industry is extremely competitive and casinos can differentiate from the competition through user experience. And the key part of user experience is payment speed. When you win a big amount, you want to be able to withdraw the winnings as quickly as possible, right? Well, the use of crypto currency allows these funds to be transferred much very quickly.
When you withdraw in crypto, the entire process lasts only few hours, sometimes even minutes, depending on the blockchain workload and the number of required network confirmations. All you need is an installed crypto wallet and its address. Also, withdrawal fees are a joke compared to what the intermediaries charge. For instance, to withdraw Bitcoin worth 100 USD from an online gambling platform, you would have to pay only a few cents in fees.
All these perks make a real difference in the world of online gambling, and will obviously continue to rise. There are already platforms that have incorporated all-crypto model, and even all-crypto games.
Expansion of crypto games
A good example is the Crypto-Games.net platform. They have been working on achieving synergy between online gambling and the emerging crypto currency technology for five years now. This online gaming website allows players to use various crypto currencies, in a fair and safe play environment. They have a range of quality games (Dice, Blackjack, Slots, Roulette, Video Poker, Plinko, Minesweeper and Lottery). Also there are advanced features such as support for the on-site coin exchange and instant withdrawals.
JuSi B.V., a Curacao-based company holding an international eGaming license is running and operating this platform. This year the company expands its customer base and coverage. And their plans are to offer new games and provide broader support in new territories. They will launch several new games over the course of 2020, after the testing for compliance and security.
This platform doesn’t leave any major crypto currency behind. At the moment, the site supports Bitcoin, Bitcoin Cash, Monero, Litecoin, Stratis, Ethereum Classic, Dogecoin, Neo, Ethereum, and Dash.
Players as potential investors
In addition to the native site-supported exchange, the platform wants all the players to feel like potential investors. They offer supported access to a faucet operating on fair and reward-focused principles. At the same time, Crypto-Games wants to receive feedback from players on all new and planned features, as well as hear proposals for the improvement. Therefore, the staff keeps in touch with the audience via the provided chat feature on the website.
Stable growth of Crypto-Games has allowed the platform to consider expanding its coverage to new geographical areas, yet without losing the focus on its global outreach. In the short run, the company will put additional work into recruiting new players among the customers coming from Asia, which is one of the most active regions in terms of crypto adoption.
The efforts to reach new territories will see Crypto-Games with the goal of appealing to the users in specific areas and keeping in line with the growth in popularity of specific crypto currencies. Yet, the majority of the platform’s promotional and marketing activities will take place online, based on the study of the interest groups and general crypto currency trends.
Player’s experience is key
Keeping abreast of crypto currency trends does not mean that Crypto-Games will lose sight of its players, as these can be changeable while the customer base is what keeps this platform going. This is why the business vision of Crypto-Games puts the player’s experience at its heart, as the mere piling of technological features, such as the addition of new currencies no one cares about, can hardly amount to long-term success.
Instead of following passing fads, the platform will deliver a balanced gaming experience. It will be based on rewarding players for their loyalty by means of access to a secure and trustworthy gambling environment and supported faucet. Dishonest players will be deterred from seeking access to the site. At the same time, Crypto-Games will fine-tune the platform’s transaction performance and responsiveness of its support teams. This type of business vision emphasizes the user-centered approach to securing the platform’s growth for the benefits of the players, investors and owners alike.
It’s fairly obvious why online gambling sites are making huge efforts to become more crypto-friendly. And we believe that the adoption of crypto casinos is a trend that will continue in the future.