6 Ways Bitcoin Has Changed the Gambling WorldCasino
BITCOINS are the future!
We are sure you have heard or read this sentence many times in the past years… But we have some news for you: Bitcoins are no longer the future…
Because Bitcoins are the present!
That’s right… Saying bitcoins are the future is totally outdated because bitcoins are no longer a futuristic idea. They are very much already incorporated into many different areas and fields, especially within the gambling world.
Bitcoins were introduced in the gambling industry since its very beginning and this payment method has proved to be a tremendous success among online casino games lovers. Cryptocurrency has brought so many new possibilities for gamblers from all over the world and they have completely revolutionized the gambling world by changing the way players and online casinos operate their transactions.
Like we said, bitcoins are no longer just a brilliant idea with potential to make changes. In fact, bitcoin has already impacted several industries in a very positive way, and the gambling world is no exception to the rule.
In this article, we would like to present to you the top 6 ways Bitcoin has changed the gambling world.
Stick around and find out why Bitcoin is the present and in what ways it has modified and improved the relationship between online casinos and its users.
Bitcoin has become mainstream
Before we talk about any other changes introduced by Bitcoin, we need to start by saying how bitcoin transactions are already the mainstream form of payment between online casinos and gamblers.
When all the cryptocurrency conversation started, it’s likely that, like so many of us, you thought this would be some type of niche for tech people. We were wrong! Bitcoins are far from a niche reality nowadays and they are very much a mainstream form of payment used by all types of people, regardless of age, gender, nationality or professional occupation.
Again: Bitcoin is not a futuristic idea. In fact, it is already the preferred payment method used by most online casino platforms and by gamblers from all corners of the world.
There is no coming back… Crypto currency is now an indispensable tool for an ideal gambling experience.
Moreover, it is anticipated that bitcoin will soon be the preferred method of payment by not only gamblers, but everyone, as the general public becomes more and more comfortable with the concept of cryptocurrency.
So, that’s quite a big change! Bitcoin is ALREADY mainstream…
Wondering how come it all happened so fast? We will present to you 5 more changes introduced by bitcoin into the gambling world that will help you understand why and how it became mainstream.
Transactions are so much faster
The new speed of transactions, thanks to bitcoin, is for sure one of the biggest ways cryptocurrencies have changed the gambling world. And it’s quite simple to understand why gamblers are obsessed with this new fascinating speed…
Before cryptocurrency was an option, a player had to go through so many annoying hoops in order to get access to their funds. With other conventional payment methods, a player would only get their casino winnings anywhere from 1 to 5 business days.
Imagine winning a big chunky prize money and then having to wait days or even weeks until you can see any of it?
Who wants to wait such a long time to get their precious money? No one!
Thankfully, Bitcoin has drastically changed that.
With Bitcoin, a player’s wins are immediately sent to their crypto wallet. These transactions usually take less than 10 minutes, which is extremely convenient for everyone.
No more waiting and waiting for bank approval and all the other boring bureaucracy that is going on behind the screen. Those days are gone!
Keep on reading….
Anonymity brought more privacy
Privacy and anonymity, that’s what crypto is all about!
Why is that important? Because, for instance, not everyone likes to be public about their gambling activities.
Before Bitcoin, privacy wasn’t much of an option, since your bank has access to so much of your personal information. Nowadays, with your Bitcoin wallet, your transactions are 100% anonymous and your purchases are revealed to no one.
Blockchain technology has successfully removed third parties’ interference, like banks and also governments, making it the best option for players in countries where online gambling is unfortunately still forbidden.
Your losses and your winnings shouldn’t be anyone’s business, right? Bitcoin is here to guarantee just that!
And there is more….
Online Casinos are more transparent than ever
So many people stop themselves from having fun playing their favorite online casino games because they have heard so many nightmare stories about online scams and casinos that are rigged.
Some bad apples end up giving the whole online casino industry a bad reputation… Thankfully, Bitcoin has changed that for the best and there are no more reasons to fear playing online poker, online slot machines, online blackjack or whatever your favorite online casino game is.
One of the major benefits of a bitcoin casino is that it is fully transparent, meaning you can always see exactly how all transactions are being processed including where did your money go when you lost a bet.
Thanks to blockchain technology, it is impossible that an online casino will manipulate the results. Naturally, that is a very important factor for everyone wanting to invest their money.
Apart from transparency, Bitcoin has also reshaped the online gambling world by reducing fraud and attacks by hackers.
Picture this: legitimate and unambiguous odds, no hidden information and a mutually positive business relationship between the player and the online casino.
Isn’t that a dream? Well, you can thank Bitcoin for that!
Transparency, safety and security… Three magic words that gamblers love to hear.
What else do gamblers love to hear? Find out in the next chapter.
No more high transaction fees!
When gambling, every transaction used to have a fee associated with. Even if they seem non-significant, when accumulated over time, these annoying fees can make a huge difference!
Bitcoin has changed the gambling world in a lot of different ways and the low or non-existent fees that are charged is one of the best changes, don’t you agree?
With conventional payment methods, transactions can incur a fee anywhere between 3% and 5%. The reason why is that casinos have to pay intermediaries in order to process the transactions and, in most cases, this extra cost is unfortunately borne by the player.
Fair? We don’t think so…
With Bitcoin, everything is fairer and more affordable! When paying with Bitcoin, no extra transaction cost is applicable. This is possible because Bitcoin doesn’t require any third party.
Thanks to Bitcoin, transactions are now so much more convenient and affordable!
And also more lucrative… See how in the next chapter.
Better bonuses and promotions
This might come as a surprise for you but maybe you are not taking advantage of the best bonuses offered by online casinos, simply because you are still not using Bitcoins as your payment method.
As a form of incentive to use Bitcoin, most online casinos offer amazing bonuses to those players that choose to pay with Bitcoin.
So, not only are you saving your money with the reduced transaction fees, you are also making more money, with special bonuses available just for you, the smart bitcoin user!
Conclusion and Final Thoughts
There is no coming back!
The gambling world is forever changed thanks to cryptocurrencies like Bitcoin.
Blockchain technology came to show how outdated some vulnerabilities in the gambling systems were and how it is easy to change for the better.
More convenient, more efficient, more lucrative and safer. There is no competition for Bitcoin!
And you know what? The Bitcoin revolution is just starting… Buckle up your seatbelts and watch the gambling world changing right in front of your eyes.
Are you going to be part of the change or will you keep living in the past?