What The Crypto Revolution Means For The World’s Online Gambling Industry
Crypto has been intertwined with the global gambling industry in the last decade. Most of its major attachments are in online gambling, such as online live casinos or mobile gaming.
Even some newer technology like Virtual Reality (VR) and artificial intelligence (AI) has been linked with online gambling and digital currencies.
Experimentations And Keeping Up
In the early days, casinos only offered the same physical games that one would find inside their location. Classic gambling games such as blackjack, poker and roulette were the staples of every gambling venue.
However, not all people can visit the local casino and play because of varying circumstances (i.e. location, costs, etc). This is where experimentation by casinos to integrate newer technologies started to make a difference.
Image source: Scholarlyoa
Many casinos have since started to offer more gambling games. For instance, pachinko, a Japanese mechanical game played in arcades and, more commonly, as a form of gambling.
Other games such as Pai Gow, Dominos, and Mahjong have also been added to the list. Even pinballs are added to their inventory of games, even if it isn’t a gambling game by nature.
On Gambling & Technology
However, those experimentations and innovations couldn’t keep the casinos afloat forever, especially with how fast technology grew in recent years. This is where casinos started to dabble with Bitcoin (BTC) and other cryptocurrencies that are booming in the 21st century.
Source: Yahoo! Finance
Crypto’s Continued Growth
According to Yahoo! Finance, the non-stop growth of virtual currencies eventually reached the realm of online gaming. Crypto operators emerged from that spur of growth, and soon Bitcoin, Ethereum and other popular cryptocurrencies would find their way into online casinos as payment options.
And thanks to the anonymity and decentralization of crypto, many online users worldwide have flocked to the crypto market to buy digital currencies and use these for their own entertainment, online gambling included.
Many are enticed to use crypto for gambling due to the fact that they don’t have to worry about security and privacy. Crypto-powered online casinos allow their players to keep their identities hidden as they try their luck for easy cash.
Crypto total market cap at $944 billion on the daily chart | Chart: TradingView.com
Some experts believe that crypto casinos will eventually come to define the online gambling sector as a whole.
Thousands of players from all over the world are now actively playing at some of the finest crypto casinos on the market because of the many advantages they offer over traditional casinos, such as faster payments, higher security, and better transparency.
One such advantage would be that players can play from anywhere in the world as long as they have access to the internet.
And, they don’t have to worry about any type of dress code as they can play and gamble in the comforts of their home wearing shorts or pajamas.
Featured image from California Business Journal
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