Gambling has been attracting people for several thousand years, and it seems to never change. In ancient China, people played for slaves, the Bible writes about soldiers playing for the garments of the dying Christ, for many years, of course, people have been also playing using traditional cash. However, the world is still moving forward. There are more and more crypto gambling and crypto sports betting sites being created with their own new way of betting that only consider betting with cryptocurrencies, and customers start to notice more and more benefits of crypto games. Are crypto betting games the next step in a development of the US gambling industry?
Above all, trust!
The most important thing in a house–customer relationship is trust. For the gambling market to grow, players cannot be in any doubt as to whether the online slot machine software is fair. Fortunately, cryptocurrencies excellently solve this problem. Because of the blockchain technology, one of the essential benefits of crypto games is that players can see the complete programming behind each game. They can easily verify whether a casino is mathematically fair. On the blockchain, programs are immutable, which means that even creators cannot interfere with it. What’s more, most bitcoin gambling operators use already provably fair algorithms, which ensure players that the game is not a fraud because they can be verified for fairness on the side of the operator.
Guarantee of anonymity
What are other benefits of crypto games? They guarantee a high level of anonymity, which also affects trust. Cryptocurrency is a decentralized currency with no controlling institution. Therefore, crypto betting sites are by far safer, as there is no third party involved in transactions. The operation only runs between the recipient and the sender. What’s more, customers don’t need to provide personal information like their home address, bank details, telephone number, etc. Most of the time, consumers just need to give their e-mail ID and wallet ID. Another advantage of the blockchain technology is that it protects information through encryption, using one-sided algorithms almost impossible to decode, therefore, taking over the data by hackers is very unlikely. Many people are afraid of someone stealing their private data, including information related to the amount of winnings, therefore, anonymity is really one of the key benefits of crypto games.
Bigger prizes
What’s more, the comfort of transactions in crypto casinos is revolutionary. Payments and withdrawals are usually instant. One of the other main benefits of crypto games is that there are also way cheaper or sometimes even free transactions, which directly affects players’ and casinos’ revenue. Except for omitting bank fees, there is no need to convert currencies, what fits perfectly the global nature of gambling. The more money a casino saves, the bigger payouts, better odds and more attractive jackpots it can offer. This is one of the most important benefits of crypto games because obviously, every player looks primarily for better rewards. What’s more, errors during transactions are less likely to appear. The blockchain is controlled by multiple computers around the world; therefore, a crash of one machine is not going to affect the liquidity of a transaction as the other computer would be still working.
Another saving
With many benefits of crypto games already mentioned, another issue, this time affecting directly casinos, is related to the fact that crypto gambling sites, in contrast to the traditional ones, do not have to spend huge money on being regulated and receiving a license from the certified authority. Because of the mentioned above algorithms, the third party is unnecessary as the fairness of crypto casinos can be verified by players themselves. Casinos which offer only traditional cash payments are in a way forced to receive such a license because players rarely decide to play on unregulated websites, considering them unfair. In order to gain players’ trust, traditional gambling websites spend thousands of dollars, which certainly affects also players’ pockets, and that’s why no need of license is one of the next significant benefits of crypto games.
Not only online
Cryptocurrencies are likely to affect also the real world casinos. For example, electronic game systems, including slot machines, are likely to take advantage of the blockchain system in the future. These innovations will have a significant impact on the casinos’ profits, e.g. thanks to getting rid of extra costs when manufacturing computer chips, in order to make them protected against manipulation.
Unavoidable changes?
With many benefits of crypto games, it is worth noting that changes in traditional, real-life casinos seem to be more distant than those in the online gambling market, where they can only be a matter of months. Cryptocurrencies are becoming more and more popular, and it is very likely that soon they will become so widely accepted that using them as a substitute for traditional forms of payment will be natural for millions of people. Therefore, cryptocurrencies will have an impact on many industries, including the gambling sector, in which changes seem to be unavoidable. Given the fact that crypto betting games guarantee bigger trust, transparency, security and prizes, certainly more and more players will decide to play on crypto gambling sites, and operators will have to react to the needs of customers.
