We've just scratched the surface with regards to what crypto can actually do for the gambling industry and it will continue to capitalize on the hype of the crypto industry.
hand holding bitcoin and pile of casino chips on white background
For anyone who has spent even just a moderate amount of time on the internet, the idea of the blockchain and cryptocurrency might no longer be such an alien idea. In fact, the crypto and blockchain market has been gaining so much traction over the years that it’s managed to infiltrate and change various industries and ways of life. One such industry that has been drastically changed (and continues to adapt) as a result of the crypto boom is the online gambling market. In the past, people used to exclusively gamble in a physical capacity. Casino games were held in backroom bars, private homes, or formal casino houses. Nowadays, it’s all just a matter of hopping online and finding a decent casino platform to play on.
When online casinos started becoming more popular, many traditional websites saw a shifting trend towards mobile usage. Naturally, the industry adapted and started creating mobile-ready versions of their digital platforms. This allowed online casino players to hop onto their favorite sites through dedicated mobile apps instead of web browsers. Now, the industry finds itself adapting to the times once again as cryptocurrency is starting to cement itself as a solid financial tool. Many casinos are now implementing crypto-ready payment and withdrawal methods on their platforms.
Here is a list of the top 10 casinos that offer crypto-integration on their platforms along with the percentage of crypto transactions that make up all the financial transactions on their site and the highest performing coin on that platform:
1. Evolution (formerly Evolution Gaming) – 13.5% Crypto Transactions; 96.3% Bitcoin
2. BGaming – 17.33% Crypto Transactions; 79.8% Bitcoin , 8.4% Ethereum
3. Platipus – 50% Crypto Transactions; 82.2% Bitcoin, 7.1% Dogecoin
4. Booming Games – 35.33% Crypto Transactions; 73% Bitcoin, 16.7% Ethereum
5. Belatra – 25.33% Crypto Transactions; 80% Bitcoin, 9.5% Ethereum
6. Betsoft – 26% Crypto Transactions; 81.3% Bitcoin, 5.5% Litecoin
7. Pragmatic Play – 0.5% Crypto Transactions; 47.4% Bitcoin, 45.7% Ethereum, 6.9% Litecoin
8. Mascot Gaming – 30.33% Crypto Transactions; 82.9% Bitcoin
9. Gameart – 26% Crypto Transactions; 80.5% Bitcoin, 11.8% Ethereum
10. Gamebeat – 34.33% Crypto Transactions; 58.9% Bitcoin, 7.8% Ripple, 7.7% Ethereum
One of the greatest advantages that cryptocurrency brings is the discretion and privacy that come with these financial transactions. Thanks to the sophistication of the blockchain, any kind of crypto transaction that takes place is unregulated by any authoritative body. This means that people are free to use their money however they see fit without having anyone question them for it. This bodes well for the casino gambling industry because it gives their players the anonymity and discretion that much of the market craves.
Aside from that, there’s an added layer of convenience when transacting with these casino platforms through crypto. Since blockchain technology is not regulated by any government body or financial institution, it means that casino gaming becomes a lot more accessible to people all over the world who may not have the same kind of access with traditional fiat money. There are still many societies across the globe whose governments bar them from engaging in any kind of financial transaction that involves gambling. Crypto serves as the viable alternative for these individuals to partake in their favorite games without breaking traditional laws surrounding fiat money.
This is just scratching the surface with regards to what crypto can actually do for the gambling industry, but it looks like the online gambling market will continue to capitalize on the hype of the crypto industry for a long time.
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