Crypto gambling is a competitive affair. Top-tier online gambling platforms have to pull out their best stops to maintain a competitive advantage. This reality means that there are specific steps taken by crypto gambling platforms to retain players.
Bitcoin is back with a bang. The pioneer crypto is now well above $30,000, more than 50 per cent above previous record highs. Bitcoin gambling games like Bitcoin Crash hope to catch some tailwinds from this historic rally allowing gamers to do what they do best while benefiting from gains. These games will likely get more attention during this rally. The best crypto games find ways to retain such users and grow.
Hundreds of online crypto casinos Crypto Casino and Rising Bitcoin Prices: Is There a Correlation?have emerged in recent years. However, a look at crypto gambling platforms shows an industry that has a long way to go. DApp gambling platforms are mostly fledgeling.
Therefore, this period could be decisive for the crypto gambling industry. Bitcoin gained tremendous traction during its 2017 bull run. 2021 could turn out to be yet another watershed moment for crypto gambling platforms.
The Blockchain In Gaming
Crypto gambling casinos allow customers to place bets and withdraw winnings in cryptocurrency. This trait is what differentiates them from traditional and online casinos, which rely on fiat.
Gambling platforms have to assure gamers that their casinos are provably fair. For crypto gambling, the software has to be top-notch and leverage the power of the blockchain. The assurance that the gaming logic is uncorrupted is indispensable in gambling.
The distinguishing qualities of a public blockchain are decentralisation, immutability, and auditability. These qualities are useful in crypto gambling. Gambling is all about having a chance. A rigged casino, or even the lack of transparency, is a turn-off. Players can verify that blockchain gambling platforms have an unbiased code.
Predictably, most crypto gambling platforms initially emanated from the Ethereum blockchain. The smart contracts innovation was an opening for crypto platforms to be much more than speculative assets. In recent years, EOS and Tron have begun to offer competition.
Steps That Quality Platforms Have Taken to Stand Out
Unfortunately, trust is not a quality you can extend for all crypto platforms.
Every gambling enthusiast knows all too well the issues that emanated in the ICO era of 2017-’18. The fundamental priority for a crypto gambling platform is security.
This aspect goes from basics such as the credibility of a website’s promises, a secure domain name, and even proper asset storage. It also extends to compliance with relevant licensing requirements. Any gambling platform that wishes to retain players has to have irreproachable security standards.
Leading crypto gambling platforms go out of their way to highlight their security arrangements. This step is necessary to assure gamblers that they are operating in a safe environment.
The second step is to provide variety. Gamers have different tastes, and any gambling platform should reflect such diversity. Crypto gambling platforms should cater to both old school players and relatively new ones. Therefore, an excellent casino contains a diverse range of gambling games.
Additionally, top crypto gambling platforms have to give players the maximum incentive to wager on their games. Aforementioned, competition is stiff in this industry. Gamers have to find a platform irresistible.
This needs calls for all kinds of incentives starting with a welcome bonus.
Other rewards and bonus features like jackpots, tournaments, and raindrops are part of the allure. These provide more excitement and can boost retention rates.
Efficiency of Payments
A fundamental problem with platforms that don’t go far is the failure to provide solutions to existing problems.
The promise of crypto lies in its resistance to censorship. Therefore, a crypto gambling platform must have exquisite payment processing features. The efficiency means that the platform must have excellent liquidity to scale up to more demand effectively. Moreover, the settlement of deposits and withdrawals has to be significantly better than centralised systems. This efficiency is a core component of the allure of crypto gambling.
Bitcoin comes with the promise of an asset that operates outside centralised systems. Many crypto gambling enthusiasts take the privacy and efficiency of their payments seriously. This reliability has to be a key consideration in the relationship between a crypto gambling platform and its users.
To address this problem and to make gaming a smooth experience, BC Game, for instance, runs a Bitcoin Lightning Node, guaranteeing fast and cheap settlement. Besides, other coins with low transaction costs and high throughput are supported.
The Big Picture: An Industry with Its Best Days Ahead
Crypto gambling casinos have a low barrier of entry, meaning that competition is stiff. As such, sites that wish to retain users have to be provably fair and give gamblers the ultimate gaming experience. The steps above are indispensable in ensuring that gamers have trust in a gaming platform.
Besides security, gamblers have to see cause for wagering on a crypto gambling platform rather than traditional casinos. It is a growing market and the best days are certainly ahead for platforms that incorporate such measures.
The industry will hopefully catch some tailwinds from soaring Bitcoin and Ethereum prices. Platforms that position themselves for success can be the biggest beneficiaries.