Four reasons that cryptocurrencies will revolutionize the online casino industry

[el kaka22]

Hey OP, you are mentioning about the future revolutions but I am seeing all these are already happening with crypto based gambling industries as cryptos are almost 9 years old and if my memory is good, cryto based gambling is also serving us for the same amount of time and getting revolutionized day by day and honestly I am not getting surprised on the four things you took for considering on evaluating the revolution.

Compared to early 2000, now many of my friends are into gambling and other known people who are from gambling forbidden country, now enjoying gambling just due to crypto based gambling's evolution along with providing the at most anonymity and the features of gambling from home convenience. In near future, we may expect more such development to continue and this may help cryptos to each more people also gambling industry will move up to next level of development especially with gambler friendly enhancements.

[MinerHQ]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

If you choose to gamble with fiat then one need to deposit money using their bank account or credit card means disclosing your identity to a casino. So if gambling is banned in your country then it may bring you some issues from government authorities. This is the reason crypto online gambling is growing so fast over fiat online gambling. So far I never gambled online using fiat but now and then gamble with bitcoin or other altcoins.

[Janation]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

That is because crypto currencies is not that popular with a lot of gamblers though the popularity of gambling with crypto currencies is improving and developing since there are a lot of gambling sites now that is accepting this crypto currencies.

With it's decentralization and anonymity, a lot of gambler are in favor of using Bitcoin to gamble. Who would not want to gamble and spend money without knowing who is that person spending it, right? But always be careful and responsible on betting and gambling your money.

[crwth]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

That is because crypto currencies is not that popular with a lot of gamblers though the popularity of gambling with crypto currencies is improving and developing since there are a lot of gambling sites now that is accepting this crypto currencies.

With it's decentralization and anonymity, a lot of gambler are in favor of using Bitcoin to gamble. Who would not want to gamble and spend money without knowing who is that person spending it, right? But always be careful and responsible on betting and gambling your money.

I think most of the gamblers that always play doesn't bother what Bitcoin or basically cryptocurrencies in general. Probably they are too addicted that they don't care with it and just focus on gambling. I think there are people right that. The anonymity is definitely a factor but the registration and KYC make you known. So it's almost the same.

[ethereumhunter]

I think the anonymity that will help people to stay behind the wall especially if they want to play gambling. they don't have to send any document for just playing gambling. there are many gambling websites that allow them to start to play the game after they register and they can feel safe for playing in that game. they can still hide in their home, using the VPN, and play the random game without any people knows.

[BitcoinSupremo]

Anonymity is the first and foremost important point why people will love to play with crypto currencies rather than with FIAT. I have account both in bet365 which is a FIAT sportbook while I have many accounts in different crypto sportbooks. I like more the crypto ones as another thing that comes out as fifth reason, you can never have problems, like Skrill or credit card deposit not working for a certain time, in here the crypto deposits works flawlessly everytime.

[just_Alice]

Certainly, the determinative here is provably fair algorithm and anonymity, the second one particularly gives some people not only confidence, but freedom. I'm talking here about countries, or maybe some groups with concrete religion-based restrictions on gambling. To the above listed advantages I'd also add security: other online casinos store records about their clients on a centralized server and that includes information associated with the deposits that customers made. This issue is a threat not only to clients' anonymity, but to their funds too, because such a server can attract lots of hackers and if it is hacked - all of the assets can be lost at once. But this, however, can never happen to a gambling website, that uses cryptocurrencies.

[supermine]

Already the crypto currencies made huge changes in the gambling field because most of the time people will get into go to a real casinos for many reason even if they have desire to gamble but not anyone can gamble from the place where they have been so number of gamblers have been increased because of crypto gambling sites.

[KonstantinosM]

Eventually we'll probably see online bitcoin casinos taking physical form and replacing their inferior counterparts.

Since a lot of gambling in the US is done in the reservations, if bitcoin hits mass adoption I don't think that the US government will be able to scare the casinos away from bitcoin.

[micleeiu398]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

That is because crypto currencies is not that popular with a lot of gamblers though the popularity of gambling with crypto currencies is improving and developing since there are a lot of gambling sites now that is accepting this crypto currencies.

With it's decentralization and anonymity, a lot of gambler are in favor of using Bitcoin to gamble. Who would not want to gamble and spend money without knowing who is that person spending it, right? But always be careful and responsible on betting and gambling your money.

I think most of the gamblers that always play doesn't bother what Bitcoin or basically cryptocurrencies in general. Probably they are too addicted that they don't care with it and just focus on gambling. I think there are people right that. The anonymity is definitely a factor but the registration and KYC make you known. So it's almost the same.

This is right approach of getting their mindset. Yeah they don’t think much of what they are investing in this harmful game. Because if that is so, they never ever try to involve bitcoin in three. They only want something that can let them earn more money that is nothing but a fake dream. It might happen they win for sometimes, but this isn’t a permanent win but they are unaware of it.

[xIIImaL]

Except anonymously you doing gambling nothing I agree with it mate. So most of casino site scam the players and earning fund I believe. Profit what they giving is very less than other gambling investment method.
Since it is anonymous still transparency is missing in casino mostly they are scamming the people with the bot and alt players.

[izanagi narukami]

For my government , it become disadvanatge for them to legalize cryptocurrency.
Gambling and bitcoin anonimity become the weapon for our criminal for example like corruptor.

For me, it's really great to see bitcoin able grow so far !

[onrise]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

It gives people easy access so everybody who are into crypot and want to gamble make use of this opportunity to make payment via crypto and get the games played. But also chances of getting addicted will rise as they can play anytime and anywhere.

[Thanasis]

Anonymity and the convenience is the most revolutionary factor of the crypto gambling,which made many people to enter into the gambling sites but it also can be  paradise for the people who want to spend their black money and even can use it to launder their money.

[Pab]

There is no anonymous gambling on regulated casinos KYC  children protection if one of iron rules for regulated gambling. Crypto currencies are same currencies like fiat money but it is still not easy to exchange them to fiat
Other thing is blockchain gambling but blockchain has his limitations

[Ucy]

I Like the part on Trust.
 Is this available on decentralized gambling platform or also on centralized ones? Always heard of the provable fair stuff but never really understood what it meant.
So can the feature be used on centralized platform? If so, why are people having  trust issues with crypto betting?

[sheenshane]

snip-
So can the feature be used on centralized platform? If so, why are people having  trust issues with crypto betting?

Not all online casino are centralized but I guess time to time it will come on that point. Centralized feature casinos now are following the protocol on government that needs to passed KYC to easily determine shittily behavior or something underage players are not allowed.

Trust is a very important thing between the players and the casino owner if they have more, and it looks like having a fair game between a gambler and the owner, it should have always transparency in every transaction has.

[FIFA worldcup]

As I am from India, it is illegal to gamble here. Even though there is no specific laws to frame online gambling, people are scared to expose their identity. Crypto currencies are really helpful to be anonymous. Moreover, fast withdrawals and convenience are bonuses of using it.

Yeah same here, in my country indonesia also banned all gambling activity. That's why people here gamble on online gambling. Online gambling is popular here, not only on cryptocurrency but fiat online gambling also popular.

If the gambling is banned in your country, you should avoid playing gambling online using Fiat. Deposits may require you to use your debit / Credit cards and it may be tracked on where you are spending online. The safest way for you is to buy some bitcoins and play gambling online with bitcoins. In this way, government authorities will never be able to track you.

[Idrisu]

Op I really agree with you and I think we should be able to take advantage of blockchain technology in promoting casino and gambling industries.  I think gambling industries is the greatest beneficiary of blockchain technology in this year and other form of investment is fading away.

[playboy654]

Four reasons that cryptocurrencies will revolutionize the online casino industry

When Bitcoin was created in 2009, its main concept was to revolutionize the global payments system. By utilizing the benefits of the underlying blockchain protocol, Satoshi Nakamoto's innovative design allowed people to transact on a peer-to-peer basis without the need for a third party intermediary. However,  it is not just the monetary system that is set to benefit.  One such sector that is also set for grand disruption is the online casino space. Here's four reasons why.

Anonymity

When users play at a traditional fiat casino, they are required to provide the platform with a range of personal information. Moreover, they are expected to upload multiple documents such as a passport, proof of address and a copy of the payment method used to deposit.

On the contrary, online casinos that specialize purely in cryptocurrencies are not required to follow the same set of regulatory red-tape. In most cases the user is required to supply nothing but an email address, subsequently facilitating an anonymous gambling experience.

Speed

Although the deposit process at fiat casinos can be instantaneous when funding an account with a debit or credit card, it is the withdrawal procedure that really struggles. When a player makes a withdrawal request, it must first receive authorization from the platform's internal payments team. Moreover, if the player is yet to have their KYC documents verified, this can add additional time. Once the request is processed by the casino, the player must then wait until their respective card issuer settles the payment. All in - it can take up to a week before the player receives their winnings.

On the other hand, online casinos that specialize purely in cryptocurrencies are able to process withdrawals instantly. Ordinarily, the platform will process the request in an autonomous manner, subsequently allow the player to receive their winnings back in their personal wallet in just a few minutes.

Trust

When playing software games such as blackjack, roulette or slot machines, there is no way to verify that the fiat casino is playing fair. As a result the player needs to trust that the odds on display are legitimate.

This is in stark contrast to a cryptocurrency casino that implements a provably fair protocol. Provably fair is supported by the art of cryptography - meaning that each and every gaming outcome can be guaranteed for its fairness. Moreover, this gameplay data cannot be pre-defined or manipulated by the casino.

House-Edges

The burdens of regulatory compliance in areas such as anti-money laundering cost fiat casinos a significant amount of resources. They must install vast KYC policies, enforcement teams and legal departments to ensure that they do not fall foul of domestic regulations. These additional costs are subsequently passed on to the player in the form of house-edges.

Online casinos that focus purely on cryptocurrency deposits do not have any relationship with fiat money, meaning that they are able to operate burden-free. As a result, they are able to pass these savings on to their player's by offering reduced house-edges.

The Conclusion?

Cryptocurrency casinos are starting to increase their market share at unprecedented rates. Not only do the aforementioned specificities benefit the player, but they are also advantageous to the casino too. Ultimately, choosing a credible cryptocurrency casino can still seem like a daunting task. Make sure you review the platform in its entirety prior to parting with your cash.

Hopefully you enjoyed my article! Let me know if I missed anything and if you like what you read I have written a full 5,000+ guide on how to get started at https://cryptogaming.review/ethereum-casino/
 

All the four things are very important to be good gambling field and online casinos will definitely need some support by the investors and some other good promotions if it will be possible then the above your points will be right.