Why Do More Gamblers Move to Digital Bitcoin Casinos?

Date: 28-03-2024 4:43 pm (3 weeks ago) | Author: onuigbo felicia
- at 28-03-2024 04:43 PM (3 weeks ago)
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Why Do More Gamblers Move to Digital Bitcoin Casinos?
According to Statista, the average revenue generated by the online gambling industry worldwide will reach $107.3 billion by the end of 2024. Around 2.5% of the world’s population currently uses digital casinos regularly. Yet, the era of new technologies continually brings new possibilities to various spheres of human life. The gambling industry isn’t an exception.
In 2022, about 36% of all bets worldwide were placed using crypto, and this trend is growing. So, let’s figure out why gamblers prefer to move to digital Bitcoin casinos and abandon fiat currencies as a payment method.

Crypto Gambling vs. Traditional Gambling: Main Difference
Currently, most casinos all around the world (both online and offline) have a centralized system of administration. As a result, they obey the laws and rules of the local authorities and may share sensitive personal information about their clients. Yet, that statement might vary in different countries.
Most online crypto casinos have a fully decentralized administration system that grants their clients more freedom and transparency. Still, some countries (e.g., China and Taiwan) have already adapted their laws for cryptocurrency and the use of crypto in the gambling industry. So, remember to read all necessary regulatory documents (e.g., local gambling-related laws, casino terms and regulations, etc.) before starting your gambling journey with a Bitcoin live casino of your choice.

Why Cryptocurrencies Are a Great Feet for Gambling?
Since the first release of Bitcoin’s white paper in 2008, more and more online gambling platforms have permitted their users to use crypto for bets and gambling. Additionally, over $3 million in bets are placed daily. This number naturally raises the question: “What makes crypto such a great currency for gambling?” Here are a few key points:
Pseudoanonymity. Many gamblers prefer to keep their love of spending money online in casinos fully private. Thanks to blockchain technology, a fundamental technology for any crypto, users can spend money and receive transfers without their personal data being directly involved in the process. As a result, their money transfers will remain private.

Crypto is a significant financial asset. Surveys indicate that the average age of crypto users in Germany is 39, and in Canada, gamblers are, on average, 47 years old. This age is precisely when people actively build their financial assets and start saving money for retirement. Crypto is a tremendous financial asset that can bring outstanding future revenues, making it an excellent choice for those who love to gamble.

High volatility of crypto. In 2021, the value of Bitcoin shuffled between $28.383 and over $65.000. More likely, we will see lots of similar shifts shortly. So, if gamblers of crypto casinos exchange their crypto at the proper time, they can generate outstanding revenue. Still, high volatility might negatively impact your possible revenue, as there would always be a chance to lose money in the course would significantly drop.

Worldwide availability. Currently, most fiat online casinos are working with various local currencies. So, if you’d like to use their services, you must exchange money on third-party platforms or offline. Crypto is available and acceptable worldwide, so there is no need to worry about currency exchange services. Yet, keep in mind that not all casinos accept crypto.
New users of Bitcoin online casinos often face issues registering and setting up a new account and cryptocurrency wallet, as well as obtaining their first cryptocurrency to start gambling. Yet, those minor problems can be quickly resolved thanks to the customer support service of these online casino platforms, which is also a great plus in the modern era of virtual gambling.

What Can Digital Bitcoin Casinos Provide for Their Users?
Modern online crypto casinos provide quite the same range of games, entertainment, and services as virtual gaming clubs oriented on fiat currencies. Here is the list of the most widely spread services available in Bitcoin live casinos:

Slots. About 52% of users who use cryptocurrency for gambling prefer slots. It’s necessary to mention that crypto casinos provide thousands of different slot machines for their customers, and developers are constantly working to increase the number of available slots including bonus buy slots.

Card games. This category includes video poker, blackjack, and baccarat. Users can pick among hundreds of various subtypes of these three main games.
Roulettes. There are three main types of roulettes: American, European, and French-style. All these types are widely available in digital Bitcoin casinos. Since 2004, most online gambling clubs have also added so-called California-style roulette.

Live games. Live categories can be represented by any games mentioned above but with a live human croupier. Also, users can often play against other users in this category of online casino services.
Among other services available in Bitcoin live casino might be various types of lotteries, different bets (primarily sports), actual games with gambling part (e.g., Plinko), and inbuilt services to exchange and gamble on the course of cryptocurrency.

Conclusion
Cryptocurrency online casinos are currently getting more attention among internet users who like to gamble. Bitcoin and other crypto coins grant more privacy, are significant financial assets, and are accepted worldwide, making them a perfect match for all gamblers worldwide. Crypto online casinos provide similar categories of services as fiat-oriented and have a few additional features related to crypto.
More likely, the demand for crypto-gambling platforms will increase in the future. So, it is the perfect time to do so if you are about to start your first journey in Bitcoin live casino. We wish you a good luck.

Posted: at 28-03-2024 04:43 PM (3 weeks ago) | Addicted Hero

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