Cryptocurrency

Crypto gambling sites and profitability: why do they make money?

Published

2 years ago

November 28, 2022

Reading Time: 3 minutes

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!

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Cryptocurrency

Rainbet Launches New Crypto Casino for Both New and Experienced Players

Published

2 days ago

November 12, 2024

Adrienn Sarkany

Reading Time: 2 minutes

Rainbet is excited to announce the launch of its new online crypto casino that has been expertly designed to cater to both new and experienced players. With a range of new and exciting casino games and classics, such as online slots, roulette, and blackjack, Rainbet provides an unforgettable betting experience.

Crypto casinos are online platforms where players can place bets with cryptocurrencies like Bitcoin and Ethereum. Unlike regular casinos, online crypto casinos offer instant transactions that are much faster than conventional banking methods. Rainbet uses blockchain technology to guarantee the highest security for its players and, through its combination of speed, diverse game catalog, and reliable transactions, delivers an engaging gaming platform.

With a commitment to offering the best user experience, Rainbet ensures safe online practices and a fair and transparent gaming experience for all its players. “Rainbet is a safe and legitimate platform, with games created using a provably fair system,” said a spokesperson for the online casino. “This ensures that all games are fair and transparent, reinforcing player trust and confidence in the platform.”

Whether players are searching for classic casino games, such as online slots, blackjack, baccarat, and roulette, or are interested in eSports and live sports betting, Rainbet offers a diverse selection of the latest games with industry-leading technology and graphics.

Rainbet provides a comprehensive gambling experience that places a focus on fairness and legitimacy by adhering to rigorous standards and using advanced technology. This approach is highlighted in the online casinos’ easy and hassle-free deposits that enable players to confidently deposit real money to receive Rainbet currency, as well as the platform’s seamless and secure withdrawals.

Additionally, the crypto casino boasts an extensive array of online promotions and bonuses that are available across the platform’s most popular games. Rainbet also has a weekly 10% rakeback, which rewards players by returning part of their losses, reducing losses, and extending playtime.

“Compared to online Bitcoin casinos, Rainbet has more to offer, such as more games and exclusive promotions to make gambling more exciting. With daily, weekly, and monthly bonuses, players always have something extra to look forward to. These promotions, combined with an easy-to-navigate interface and a wide range of games, make Rainbet a top choice for crypto gamblers,” furthered a spokesperson for Rainbet.

Rainbet invites both new and experienced players to visit its website today to view its full catalog of games and the latest promotions.

Cryptocurrency

Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe

Published

3 days ago

November 11, 2024

George Miller

Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe

Reading Time: 2 minutes

As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.

The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.

This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.

Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,

Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.

“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”

The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.

This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.

Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:

Date: November 14, 2024
Time: 12:00 CET
Platform: X Spaces

Cryptocurrency

Armchair Online BV Launches CryptoCasino.com and $CASINO Token to Disrupt Blockchain Betting

Published

1 month ago

October 9, 2024

Adrienn Sarkany

Armchair Online BV Launches CryptoCasino.com and $CASINO Token to Disrupt Blockchain Betting

Reading Time: 3 minutes

Armchair Online BV, an experienced online gaming firm, are ready to revolutionize the world of blockchain gambling with their groundbreaking CryptoCasino .com platform and $CASINO token.

Led by an experienced team that has built multiple successful iGaming operations in the world of sports betting, poker, and affiliate services, CryptoCasino will deliver an unmatched betting experience for crypto users.

A World-Class Crypto Casino

Partnering with the largest gaming studios in the world, CryptoCasino will feature over 6,000 online slots and table games, a live dealer casino, premium sportsbook, eSports betting hub, racebook, and more, all available to be bet on with 25+ of the largest cryptocurrencies in the world.

To cater to the future of crypto betting, the site will allow for both traditional registration and Web3 connectivity. By connecting instantly with wallets such as MetaMask or Trust Wallet, players can seamlessly deposit and withdraw funds within seconds.

With a player-first focus, the site also includes 24/7 live chat support and an industry leading VIP program that offers a wide range of loyalty incentives that reward players on a daily basis.

Set to Be the World’s #1 Telegram Casino

CryptoCasino is catering to the over one billion unique Telegram users by building a Telegram Casino integration that allows anybody to immediately join and begin playing with just one click.

With Telegram gaming growing rapidly, CryptoCasino’s integration with the platform will offer a direct connection to millions of players around the world. The integration will provide the perfect blend of security, seamless connectivity, and social gaming that can rapidly grow into one of the best domains in online gaming today.

The $CASINO Token Offers Benefits to Holders and Players

To complement the launch of the CryptoCasino betting platform, the business is also launching an ERC20 token called $CASINO that will serve as the basis of the ecosystem.

With the $CASINO token sale launching October 15 at token .cryptocasino .com, buyers will be able to purchase their tokens directly from the secure Web3 sale site by connecting their wallets.

There are several benefits to buying and holding $CASINO tokens.

Buy Back and Burn: Each month, 50% of the net profits from CryptoCasino will be used to purchase $CASINO tokens from the open market. They will then be burned, decreasing supply and creating scarcity for the token.

Staking Rewards: Holders will be able to stake their $CASINO tokens each month for an APY up to 10%, allowing them to gain a passive income stream directly through the staking platform found on the site.

Exclusive Player Bonuses and Airdrops: Holders will be able to use their $CASINO tokens on the CryptoCasino platform to receive incentives such as a 200% deposit bonus, 15% cashback on bets made, and much more.

Partnerships with the Best in the Industry

Having grown several iGaming businesses over the past two decades, the CryptoCasino team understands that the key to rapid growth comes from partnerships with trusted names in the online gaming business.

That is why CryptoCasino has partnered with several major names in betting and blockchain including Pragmatic Play, Evolution Gaming, Betby, Oddin.gg, Decubate, Covey, Fireblocks, and others.

As a fully licensed platform under Curacao and Anjouan gaming authorities, the platform will provide the highest level of player safety and security, complying with all regulatory statutes for the best crypto betting experience possible.

$CASINO Token Sale and CryptoCasino Platform Launching Soon

The $CASINO token sale will begin on October 15, with a special VIP round available to those using a password that can be found on the social channels found below. Unrestricted access will be available to all on October 17.

The CryptoCasino .com platform will be launching on November 19th for both the online and Telegram casinos.