It does not take a rocket scientist to know that Bitcoin and blockchain are the future of the online gambling market as it is clear that they have both had a huge impact on the sector over the years. The online gambling sector solely benefits from the continued innovations and advancements of technology that take place, whilst they also continue to look for the best ways to provide their community with the best possible security features that they can.
This is where Bitcoin and blockchain technology fits in like a glove as they both help to provide the highest levels of security where possible, whilst also ensuring that the holders of the digital currency being used are able to experience other great benefits that traditional fiat payment methods simply do not provide them with.
The continued surge in popularity
You only have to take a look at recent data to see how the two industries have become intertwined recently and the impact that crypto has had on the online gambling industry as a whole. Many will already note that there are a number of specialized crypto casinos amongst one of the very best as they continue to provide an excellent choice of crypto games that are available to enjoy. However, statistics will also highlight just how big of an impact and the growth that is being experienced at the same time which has led to the need for specialist online casinos.
According to data, the first quarter of 2020 saw Ethereum transactions increase by around 40% in comparison to the same period of the year before, whilst it had been revealed that cryptocurrencies accounted for $10 million a day of gambling spending by players who participated across a variety of different games include classic table games and slots. Now, whilst the overall gambling market is said to be exceeding $50 billion annually, the fact that around $10 million is being spent a day shows that there is still a lot of room for Bitcoin and blockchain to grow and be the future of the industry.
VR technology can also benefit Bitcoin gambling
Live dealer games have become extremely favorable with players using an online live casino, as they are able to take advantage of a number of top benefits, such as being able to enjoy a top authentic experience. However, that experience could be about to get a whole lot better in the future as VR Tech continues to be developed to allow for players to fully immerse themselves into online crypto slots that have a live dealer.
VR Tech has already become mainstream within the overall gaming industry via options such as the Oculus Rift and PlayStation, whilst those provided by Samsung and Google are excellent options that can be used for simple games that require less visualization and more movement. Moreover, the Oculus Go and Daydream standalone headsets may just be the best for those who use bitcoin live casinos, as they do not require a connection to a device and can be integrated for use within the gambling industry!
What are the benefits of gambling with Bitcoin?
Many will likely already know what benefits can be had when using Bitcoin and blockchain, however they are certainly worth mentioning when it comes down to the online gambling industry as their advantages will perhaps be even more relevant than before.
There are a number of benefits that can be experienced, although the primary ones are mentioned below:
- Convenience: crypto has been experiencing surges of growth over the years because of the convenient nature it has and can provide. The digital currency allows for the fastest transaction processes with its instant nature, as well as providing a simple user experience.
- Security: as mentioned, security is something that all online casinos strive to achieve at the best levels possible and crypto will afford them that, as well as the holders who use them. Bitcoin and blockchain technology protects them with a transparent system, with nobody able to manipulate any of the transactions made.
- Anonymity: with crypto not being regulated by government authorities and banks, bettors will have a high degree of anonymity when using virtual currency, thus keeping them protected as much as possible from any potential external factors.
- Hassle-free: Bitcoin and blockchain technology can help to eliminate any hassle that may be experienced when using fiat currency, such as financial institutions blocking out transactions. The process is streamlined, whilst costs are also reduced as an additional bonus!
It is clear that Bitcoin and blockchain are the future of online gambling as both have a typically positive impact on the industry and anybody that uses them. With crypto continuing to be adopted at a high rate and provides a number of benefits that simply cannot be guaranteed when using a fiat currency.
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