Since 2009, we’ve all been aware of Bitcoin as a digital currency. It was designed to be a peer-to-peer system, meaning that transactions can happen without the need for any centralized institution like a bank or government.
Bitcoin (BTC) has become popular as an investment vehicle and as it continues to grow in popularity, more and more people are using it for online gambling. In fact, many BTC playing sites, like Coinslotty casino for instance, have already surpassed traditional casinos in terms of popularity! Here are five upcoming trends you should know about if you enjoy playing casino games with crypto.
- Increased Acceptance by Online Casinos
Bitcoin is slowly but surely being accepted by more and more online gaming sites. This makes it easier for players to use their crypto coins to gamble and eliminates the need to convert them into other currencies first. For example, players from countries where using credit cards are not allowed to gamble on online gaming sites will benefit a lot from this. This is the case of Australia for example.
In addition, it makes it easier to transfer funds from their BTC wallets to casino accounts and vice versa. This means that players will no longer have the inconvenience of having to use a third-party service such as a bitcoin exchange to do this. We also find some BTC casinos that offer prepaid cards one of the most attractive options as this is a quick and easy way for players to fund their gambling accounts.
- More Bitcoin-Only Casinos
As the popularity of Bitcoin continues to grow, so does the number of gaming platforms that only accept this digital currency. Players can enjoy all of their favorite games at these sites without worrying about converting their bitcoins into other currencies. There are already many quality BTC casinos that offer a variety of interesting games, so expect more to be launched in the near future.
Even though the vast majority of gambling enthusiasts bet on sports, it can still be quite difficult to do so online due to restrictions imposed by bookmakers and various authorities around the world. However, Bitcoin makes it possible for players to engage in such activities anonymously and without involving third parties.
- Improved User Experience
With the help of new technologies, BTC gambling sites are continually striving to improve the user experience for their players. This includes features such as faster loading times, easy registration processes, and a wide variety of games. Bitcoin gaming sites are also increasingly using BTC ATM machines, which allow players to get their hands on Bitcoin quickly and conveniently.
The new technologies are also very beneficial to the new players. If they want to try some gambling sites, they can do it without downloading any files or filling out forms. All they need is an email address and a BTC wallet with some funds on it. The new technologies will continue to make BTC gaming more popular, as they are constantly adding new features like live dealers and real-time gaming.
- Lower House Edge
Most online casinos use an algorithm to determine the house edge for players. Since Bitcoin is decentralized, it does not need to factor in transactions, fees, or any other expenses that are associated with credit cards and bank transfers. This undoubtedly results in lower house edges for users at some BTC gambling sites.
Most online casinos use a figure between 3-5% in their house edge calculations. However, BTC gaming sites can offer players anything from 1-2% to as high as 10% in the house edge calculation. Whereas other Bitcoin-playing platforms usually have a minimum house edge of 0.5%, which is one of the lowest figures in online gambling. For instance, some traditional online casinos offer 5% on all bets at roulette tables. That may easily turn into a loss for players over time or just simple bad luck that can’t be avoided.
This ends up having a huge impact on the house edge and how it is applied to players’ bets. Offering such low figures makes BTC casinos extremely competitive compared to regular online casinos that use fiat currencies.
- Blockchain Technology
Bitcoin casinos are starting to develop new software that will allow them to record and broadcast each and every single transaction made by players on the blockchain. This will make it easier for gamblers to verify their winnings and alleviate any concerns about cheating at online casinos.
Gambling with bitcoin is entirely anonymous. This means that the game you are playing isn’t logged. When it comes to gambling, anonymity can cause concerns because players aren’t able to verify their winnings or get payouts via traditional methods. By using blockchain technology, gamblers will have a permanent record of all transactions which will allow them to see if their winnings were sent without any issues. This will also allow the player to verify if their winnings have been sent, thus eliminating any disputes.
Bitcoin gambling is a relatively new industry, so it’s hard to tell what trends will unfold in the coming years. However, we do know that BTC casinos and other sites are gaining popularity as more people turn their backs on traditional currencies for online entertainment. BTC casinos are becoming very popular due to their strong security, but also for the mere fact that they provide an alternative to traditional online gambling. 5 upcoming trends in BTC gambling that we have disclosed in this article is another hint of getting into it if not yet!