Cryptocurrency
Guide to gambling with Ethereum in 2020
Cryptocurrencies have become mainstream enough for gambling venues to considering offering options for players to pay via cryptocurrencies and we’ve been seeing this trend mostly in online casinos even though some of the traditional casinos are starting to catch up, offering classic casino table games where players can utilize cryptocurrencies. But with this new trend, there are new challenges, a couple of changes in the way casinos accept payment or offer the wins so it’s important to have a clear understanding of what’s different when gambling with cryptocurrencies, specifically with Ethereum.
The first steps
The step by step process is largely the same as with any regular casinos where you pay with cash, or in case of the online casino, you open up an account, make a deposit and wait for a win. When playing with Ethereum and we will largely cover the online casinos in this article the process is the same and you need to take the same steps, but there are differences in details because we are dealing with a different sort of currency. The process of opening the account will be the same in all online casinos.
One of the perks of online casinos is the easy registration process, but when you are planning to play via cryptocurrencies the anonymity of the payer is guaranteed so you will be playing Anonymous, only needing to write down your address and come up with a strong password in order to start looking for the what sort of deposit you want to make. Now, before you decide to transfer your assets, it is important to make sure that you are dealing with a license, legit online provider because the cryptocurrency industry is still new and in a lot of ways harder to control. It’s more difficult to prevent crime and in case of the wrongful transfer, your assets will be lost forever so it does require way more caution when gambling with cryptocurrencies because the stakes are higher and a lot more things should be considered besides selecting an appropriate amount to gamble on. Before you make the transaction the casino asks that you write down your unique Ethereum wallet address, and then making sure that you transfer the money to the correct casino wallet. According to the ethereum gambling guide on InsideBitcoins the transactions should take no longer than 10 minutes for the deposit to appear on the website and you should be able to start playing right away. Just remember to treat the transaction process with much more attention as to not mess up the wallet number and make sure that your transaction reaches its destination. After that, you should head over to the bonuses section to make sure you claim your rewards. The best option would be to read up about the bonuses even before you registered with the specific casino to be able to choose the one that sounds most appropriate to you.
What’s the difference
In general, when dealing with online casinos do your research read review, whether you will be playing with debit cards or cryptocurrencies. Many of the casinos have outstanding bonuses while others are quite basic and you will probably have to fight a lot to actually get them. Read about the available bonuses beforehand to make sure that you’re getting the best version out there, based on what games you actually want to play in the online casino.
While you might think that since you are paying in Ethereum the games will also go on referencing your assets through Ethereum that would make things rather difficult.
During the games, you will have your assets displayed in USD making it easier to control how much you want to spend and how much you can afford to lose.
When it comes to withdrawals the process is similar. You would usually go to your account info and look for the withdrawal button. The website will ask for your Ethereum wallet information again and just like during the deposits you need to be careful to make sure the information is corrected because if the information is invalid or if it goes to someone else’s wallet there is no getting that money back or tracing where it went. You can select how much you want to withdraw in Ethereum and get your wins in minutes.
When it comes to the game you can play for Ethereum the choices are not limitless but they do cover all the bases. You can play almost any classic card game like blackjack, a variety of poker games, roulette and other more conventional casino games on a lot of websites and make deposits in Ethereum. You also have many options when it comes to video slots which, considering they are one of the easiest casino games to get into no surprise that there are a lot of options here. You can choose from different themes, bonuses and difficulty levels but if you are a fan of video slots you will have no problem finding the right one for you to play using Ethereum. The types of games that Ethereum casinos will offer are largely the same but they might differ in variety considering the crypto casinos aren’t as popular as a regular online casino they also have fewer options but as mentioned above they provide all the basic categories of games. The bonuses in Ethereum casinos work similarly to regular ones as well. For example, the most popular way that casinos grant bonuses is that they match your deposit with a bonus. For example, if you start gambling by depositing 1 ETH, upon the first time the casino will grant you an additional 1 ETH to match the one you’ve invested in the casino. Make sure to check the percentage to which the casino will match your deposit to make sure you’re getting a good deal out of it.
Bonuses
Not much is different between playing with crypto VS playing with regular currency, But considering the importance of those small differences, it still crucial that you know what to treat differently in this particular online casino. The basics of gambling like wagering requirements and time limits to meet those wagering requirements are there. The most important thing you can do to ensure the best experience is to search the information about the provider and to make sure that you are that has a good reputation.
Fintech crypto company Payhound has been facilitating leading data provider LSports to accept payments from its clients.
As the premier data provider, LSports offers real-time sports data, providing operators with a competitive edge in the sports betting saturated market. By using Payhound’s solution, LSports can conveniently receive payments from its clients, significantly enhancing operational efficiency.
Established in 2018, Payhound’s mission is to enable businesses to handle cryptocurrencies with the same ease, security, and transparency as dealing with fiat currency. Through crypto, Payhound offers fast and efficient international payments, with security being a fundamental principle in all its operations.
Commenting on the partnership, a spokesperson for LSports stated: “Partnering with Payhound to optimize our payment solutions signifies a significant advancement in our global business strategy. This collaboration enables us to conduct transactions swiftly and securely, further bolstering our position as a premier data provider in the industry.”
Elton Dimech, Managing Director at Payhound, added: “We are delighted to service LSports.Through our platform, clients like LSports can easily receive payments, have such funds instantly converted into fiat, and as a result, greatly improve their operations and availability of funds. We look forward to continuing to be their reliable crypto partner in the future.”
Payhound is licensed by the Malta Financial Services Authority (MFSA) and is a holder of a Class 3 VFA License under the Virtual Financial Assets Act of 2018. The company has recently revealed its achievement of ISO 27001 certification for the second consecutive year.
Crypto Company of the Year was announced at the International Gaming Awards in London. SOFTSWISS, a leading technology company with 15+ years of experience in the industry, gets this title for the second year in a row.
Marking the beginning of ICE London, the awards ceremony has brought together top names in the iGaming industry to honour their achievements. The International Gaming Awards not only unites experts and gaming enthusiasts worldwide but also serves as the pinnacle charity event of the year.
The Crypto Company of the Year category recognises companies that create innovative experiences for clients in the gambling sector with a focus on crypto. The winner is determined by evidence showcasing the company’s standout performance in the crypto space compared to competitors. Reconfirming the previous year’s success, SOFTSWISS emerged as the Crypto Company of the Year for the second time in a row.
Securing the title of Crypto Company of the Year comes naturally to SOFTSWISS, the trailblazer in introducing crypto-friendly solutions for online gaming. Beginning with Bitcoin, SOFTSWISS has expanded its cryptocurrency offering to nearly 20 digital coins since 2013.
In its dedication to improving player experience, SOFTSWISS introduced the In-Game Currency Conversion feature. The innovation allowed players with crypto holdings to engage seamlessly in games originally tailored for fiat only. One year post-launch, 85% of all bets in crypto casinos powered by the SOFTSWISS Casino Platform were made via the feature.
As an expert in crypto-friendly solutions, the company shares its expertise through the quarterly State of Crypto reports and topical podcasts. This helps raise awareness among all stakeholders, offering essential insights for strategic decision-making.
Andrey Starovoitov, Co-CEO at SOFTSWISS, shares: “We are delighted to receive this award, and it signifies more than just recognition for our recent achievements. The title of Crypto Company of the Year holds deep meaning for those who led the way in integrating digital currencies into iGaming, actively advocate for crypto solutions, and generously share expertise in this field.”
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
Cryptocurrency
Casino Market Industry Forecast Reveals Surge to $165.72 Billion by 2028 with Digital Transformation and Cryptocurrency Integration
The “Casino Global Market Report 2024” report has been added to ResearchAndMarkets .com’s offering.
The latest report on the global casino market highlights significant growth, with expectations for the industry to swell from $131.42 billion in 2023 to an impressive $165.72 billion by 2028, at a compound annual growth rate (CAGR) of 4.6%. The report offers a comprehensive analysis of current market dynamics, future trends, and potential opportunities, positioning it as an essential resource for stakeholders in the casino sector.
The casino industry, experiencing a renaissance through digitization and a shift towards online gambling, is witnessing the rising popularity of cryptocurrency casinos. Innovations, alongside a deepened focus on responsible gambling, are propelling market growth, drawing attention from both established players and new entrants.
Key Market Dynamics Influencing Growth
- Online Gambling Expansion
- Smartphone Proliferation
- Innovative Casino Products
- Strategic Industry Partnerships
The report underscores the growing dominance of the Asia-Pacific region in the global casino market, bolstered by evolving consumer behaviors and burgeoning tourism sectors. The detailed geographic assessment provides strategic insights into the vitality of various regions within the industry.
Gambling machines, gaming tables, and novel casino experiences are discussed in the report. The document leverages industry-specific metrics to provide a nuanced understanding of segment performance, addressing both offline and online modalities.
Industry Leaders Making Strategic Moves
With major corporations like 888 Holdings PLC and Caesars Entertainment Corporation, the casino market is rife with tactical mergers, acquisitions, and partnerships aiming to solidify market positioning and leverage collective strengths.
The global casino market research report presents in-depth market analysis, reflecting cutting-edge industry trends such as the integration of advanced gaming technologies. It also spotlights operational strategies and expansion plans of front-runners in the gambling domain.
This comprehensive research report is poised to be an indispensable tool for industry investors, strategists, and stakeholders planning to navigate the complex terrain of the casino industry with data-driven confidence.
The casino market research report is devised to serve a diversity of informational needs, offering a meticulous examination of the interplay between market forces, technological advancements, and consumer preferences shaping the future of gambling worldwide.
Please note, the market value detailed in the report represents the actualized revenues recognized by entities within the industry over the specified period and geography.
A selection of companies mentioned in this report includes
- 888 Holdings plc
- Boyd Gaming Corporation
- Caesars Entertainment Corporation
- Melco Resorts and Entertainment Limited
- Delaware Park Casino & Racing
- Eldorado Reno Resort Casino
- Foxwoods Resort Casino
- Galaxy Entertainment Group Ltd.
- Golden Nugget Atlantic City Hotel Casino & Marina
- Harrington Raceway & Casino
- LC International Limited
- MGM Resorts International
- Palms Casino Resort
- Penn Entertainment Inc.
- Bally’s Corporation
- Churchill Downs Incorporated
- Genting Group
- Golden Entertainment Inc.
- Hard Rock International Inc.
- SJM Holdings Limited
- Station Casinos LLC
- Star Entertainment Group Limited
- Tropicana Entertainment Inc.
- Wynn Resorts Limited
- Las Vegas Sands Corp.
- Red Rock Resorts Inc.
- Eldorado Resorts Inc.
- Monarch Casino & Resort Inc.
- Pinnacle Entertainment Inc.
- Isle of Capri Casinos Inc.
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