The world of gambling is now in front of a mounting phenomenon that is literally taking over many of the markets around the world. This phenomenon is no other than the crypto casinos and crypto betting sites, that predominantly accept bitcoin payments and allow gambling to be done in cryptocurrencies or that are crypto-friendly, in the sense that they are integrating crypto-payments into their core payments and transactions systems.

In some parts of the world, crypto gambling is becoming the most dominant type of gambling. Yet in many countries, crypto gambling is growing parallel to traditional gambling. This is the case of Poland, a market that sees its bitcoin gambling rise lately. In fact, crypto gambling in Poland sees considerable growth as cryptocurrencies are gaining more and more popularity.

And as crypto-gambling is continuously moving upwards, it is only natural to wonder what it is that makes it so attractive to the gambling sites themselves. What is it that makes bitcoin or Ethereum or other digital assets a one-way option for online casinos today?

If you are thinking about why is this and generally why and how bitcoin casinos and crypto gambling sites make money, then this is the right place to read and learn!

First of all, let’s clear some things out.

Crypto gambling sites operate under the same principles as traditional gambling sites.

That is, there is no apparent change or difference in how they essentially work. Customers visit the sites, gamble and/or bet, play games and so on and then if they win they withdraw their winnings, while if they lose they are not entitled to any withdrawals.

So, then what is it that makes them so attractive to companies?

It’s all about more customers and more gambling

The truth is that it all comes down to customers and enhanced customer acquisition and retention as well as increased betting activity. Well, let’s take it one at a time.

A bitcoin gambling site is only different from a traditional gambling site in that it accepts payments (and possibly makes payments) in bitcoin. So, on the surface, there is no justified reason for making more money than a traditional site. But, if we consider what bitcoin is, how popular it is becoming among gamblers and what the advantages that it brings to the gamblers, then it sort of shows how bitcoin gambling pays off to the companies themselves.

Bitcoin is a quick, safe, anonymous, reliable, and transparent way of transacting. So, it is preferred by gamblers, because of the many benefits including speed, security, trust, privacy, confidentiality, and credibility. A gambling site that enables its customers to enjoy these benefits – through its adoption of bitcoin transactions – is, by definition, better off in attracting customers.

The role of privacy and anonymity

Just think that there are many gamblers who are hesitating because of, let’s say, lack of anonymity that typically characterizes gambling at traditional online casinos, where they have to disclose much personal information and data that otherwise they wouldn’t want to disclose. Having the option to play at the casino, let’s say, without giving any of their personal information, only with the use of cryptocurrencies, is like ‘de-regulating’ and liberalizing the gambling activity for them.

Further it can also be about gamblers not wanting anyone to know if they gamble, when they gamble, how much they gamble or how much they win (or lose). Certainly, crypto gambling gives them the privacy they want.

The role of speed

Likewise, one other factor that attracts more customers and more betting also from the existing customers is the speed that bitcoin transactions offer. Bitcoin gambling sites boast their fast processes for payments, deposits, withdrawals etc and so it becomes literally very easy and quick for users to gamble.

The role of reduced fees or no fees

Typically, cryptocurrency transactions don’t generate any fees – but in some cases there are some fees, which however are way lower than the fees in traditional online gambling sites. The absence of fees works as a motivator for more betting activity and it is also a customer acquisition (and retention) factor. Just consider that fees are often inhibiting factors or refraining factors for gamblers.

Overall, these straightforward and simple characteristics of bitcoin are what make bitcoin gambling sites more profitable. But in an indirect way: bitcoin is more attractive to gamblers, so sites get to have more customers and more customers means more betting activity and more profits in the end!

The rise of online gambling has revolutionised the way we place wagers. Gambling is no longer reserved for bookies, casinos, or the Las Vegas strip, online and mobile betting has given everyone a slice of Vegas right in their pocket. No longer do we need to make the trip to Nevada, despite the city’s mythological status. We can gamble on the go now, at any time we want and from wherever we are.

As online casinos continue using technology to develop and optimise the services they provide, what can we expect to see from these innovative gambling websites in the future? Read on to find out.

Improved Security & Player Protection

Safety and player protection should be the number one priority for online gambling websites and players alike. While online wagering provides tangible benefits in terms of ease and convenience, it comes with certain risks not previously seen in traditional gambling. The potential for security breaches can leave players’ sensitive personal and financial information vulnerable to theft by hackers and scammers, while the use of fraudulent gambling websites can pose serious financial and legal dangers.

As technology continues to develop and security systems advance, we can expect to see much safer online casinos with comprehensive player protection protocols and procedures, ensuring you can enjoy your online gambling experience without having to worry about the risks.

More Live Dealer Games

One advantage that traditional, retail gambling locations have over online gambling websites is the social aspect. Meeting friends, chatting with your fellow players, or having some banter with the dealer at the table, these things aren’t part of the online gambling experience. Or are they?

The rise of online live dealer games has worked to bridge the gap between physical casinos and online casinos. Using live streams of games including blackjack, roulette, and craps gives players the social and personal touch many feel is lacking from the digital experience and helps gambling websites fortify their position in the industry. Expect to see a lot more live dealer games in the future.

Crypto Gambling

The online gambling industry was one of the very first supporters of crypto, with some iGaming platforms accepting the currency as a payment option as far back as. Cryptocurrencies like Bitcoin offer a range of benefits over traditional payment methods. They are fast, secure, and do not require personal identity verification. The anonymity of Bitcoin also helps to protect against fraud, by encrypting transfers between parties.

As crypto continues to enjoy further mainstream acceptance across a range of industries, we can expect to see much more integration with online casinos, particularly as developments like the Ethereum Merge make the digital currency even faster and safer.

 VR Gambling

Virtual reality (VR) is a rapidly developing technology that already sees extensive use across industries including video games, education, and medicine. For online casinos, implementing VR technology will allow them to deliver even more immersive and engaging experiences for their customers, using state-of-the-art visual and audio design to create hyper-realistic, exciting games. VR table games will be the next step towards successfully replicating the physical casino experience, combining realistic visual elements with social interaction features.

Current technological and operating requirements prohibit VR from being fully integrated on an individual player basis, but as the technology continues to develop and improve we can expect to see far more VR gambling and even full VR casino experiences in the future.

AI Technology

Artificial Intelligence (AI) and machine learning technology has proved groundbreaking for many global industries, gambling being no exception. The technology has a vast range of uses, from security to complex data analysis. What it could mean for the average gambler is far more accurate and personalised suggested content. By analysing your betting patterns and preferences, AI can generate markets, bets, and games that will appeal directly to you, making for a more enjoyable and engaging experience.

Conclusion 

With the advent of online gambling, the betting industry has been inextricably linked with technology. As we continue to make advances in fields including crypto and blockchain technology, VR, and AI, we can expect to see much more integration with innovative, forward thinking online casinos. For the player, this will mean improved security, faster payment processing, more immersive experiences, and truly personalised suggested content.

BetConstruct is pleased to announce that BetGames, the leading provider of premium gaming solutions, is planning to add FTN to the list of supported cryptocurrencies.

FTN is the official cryptocurrency of the Fastex ecosystem as well as the adopted cryptocurrency of the leading betting and gaming software provider BetConstruct.

The inclusion of FTN in BetGames’s supported cryptocurrencies will start from January 26th.

To learn more details about FTN, feel free to visit the website www. fasttoken .com.