Cryptocurrencies in gambling

While traditional media were just starting to pay attention to cryptocurrencies in gambling, various gambling portals were thinking with might and main about how best to use its advantages. Many of those Online Cricket Betting ID that once took the risk of building a business around Bitcoin (or simply adding a few cryptocurrencies as another payment method) are still successfully operating today.

The Bitcoin exchange rate greatly influences the growth of interest in virtual currencies. But even if we ignore the charts with the price of BTC, the willingness of the gambling industry to accept Bitcoin and other cryptocurrencies can be explained very easily.

At all times, people played for money or their commodity equivalents: jewelry, clothes, food, and other property up to houses and ships. It is quite natural that in our digital age, digital money, that is, cryptocurrencies, is used in gambling. 

The first and most common of these is Bitcoin. The features of Bitcoin have been described many times, but let us recall why it is the most suitable for Internet gambling: The anonymity of the owner. Bitcoin and other cryptocurrencies do not guarantee the complete anonymity of all participants in the payment system, but significantly reduce the possibility of their identification. In reality, of course, everything is not so perfect, and if you wish, you can still find out the owner of Bitcoin, which was proved by the FBI when the owner of the SilkRoad underground market was caught. But these are the mistakes of a particular person, and cryptocurrencies now have the highest level of anonymity. 

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Especially given new developments such as Darkcoin and Cryptonote. decentralized structure. Bitcoin does not have a single center for transfers or the issuance of banknotes, so it cannot be controlled or banned. Winnings in Bitcoin casino UK can be obtained immediately without additional checks, commissions and other delays.

Benefits of Bitcoin Casino Games

  1. Payment processing speed
  2. Cheap money transfers
  3. Ability to send small parts of one BTC
  4. Security and confidentiality of transactions
  5. Relative independence from the state

Gambling with other cryptocurrencies 

While Bitcoin is leading the charge as a means of payment for gambling, other cryptocurrencies are also trying to take their place in the market. Such cases are still rare. Among the alternatives, one can name DiceLiteCoin – a dice game where Litecoin is used as a means of payment. 

The site was opened in March 2014, supports manual and automated trading, uses Provably Fair, there is a version for smartphones and tablets.

The casino commission is only 1%, which adds to the popularity of the site. Gambling on altcoins is a fairly promising area of ​​gaming investment, and it is safe to assume that it will develop dynamically in the next few years, especially since new cryptocurrencies appear constantly, which means that the excitement of their owners needs to be released.

Is it possible to win? 

Is it possible to win at a Bitcoin casino? It’s a popular question, and a rather stupid one. Of course it is possible, and the probability of winning in Bitcoin is the same as in “real” money. Or do you think that replenishing the game balance with a payment card in a casino registered in Bermuda gives more privileges than Bitcoin? The answer is obvious and there are examples of big wins. At the Just-Dice.com casino, a player under the pseudonym “Nakowa” was able to hit the jackpot in the amount of 11,000 BTC, which at that time amounted to almost $1.3 million. It wasn’t easy, and before drinking champagne, the same player lost $100,000. Everything is as always – in order to earn a lot, you need to spend a lot.

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Cryptocurrency gambling prospects Like any new business, cryptocurrency gambling is currently developing dynamically and is far from a significant redistribution of the market.

Prospects for gambling on cryptocurrencies

But rapid growth will inevitably be followed by the emergence of major players and the formation of business rules, primarily interaction with state regulatory bodies. For example, the Department of Tax and Financial Policy of Spain has already equated Bitcoin with payment systems and requires a corresponding license from cryptocurrency casinos. And if you look at it without unnecessary hysterics on the restriction of freedoms, there is nothing wrong with that. 

Let serious players remain on the market and there will be no situation when 37% of bitcoin casinos on the Internet are ordinary scammers, because the anonymity of cryptocurrency helps not only players, but also those who deceive them. 

The Internet provides a full range of services for the gambling owner of Bitcoin and other cryptocurrencies. Play with pleasure, but do not forget that casinos have killed many famous people.

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