The term crypto-casino might be a little confusing for users who have not explored the wide world of cryptocurrency! Some of them still think that Crypto Casino means a Bitcoin Casino where you can play using only BTC! Fret not! Today we will learn more about it:
As many cryptocurrencies are getting into the market and been generally adopted, some of the online casinos are beginning to adopt them as an element for wagering. A crypto casino is an online arena for gambling, gaming and lotteries that deals primarily in crypto-currency. That means all the transactions happen via crypto. These casinos run based on programmed software that conduct and run the game with minimal human intervention. For instance in a game that would be set for human players, the software then takes the role of the table dealer. Interestingly in a plot to establish trust with its users, most crypto casinos disclose how their software algorithms work. Dice is the most popular game for crypto casinos while a lot of other interesting games, lotteries and variations of popular games exist and are increasingly getting infused into the system.
What Is New?
There are a number of crypto casinos emerging to offer new wagering options for players around the world. While crypto casinos are upcoming, they have already begun to drastically change the landscape of online casinos. Anonymity still remains the peak leverage for crypto users and for any crypto transaction. In recent times, there has been a drift in casino dealing as wagering has now moved from land casinos to online casinos. Online casino games have been an awesome invention that completely transformed the age of gambling. Gamblers now require less time and money to stake a bet as they can get it done from their comfort zones, just a mobile device or computer with internet connection is all that you need! You don’t have to travel, you don’t even have to get dressed! Casino games can be a fun and enjoyable way to spend your extra time, and interestingly you can bring the casino now to your mobile or PC. Many people love going to traditional casinos from time to time for the experience but more and more people are now turning to online casinos to join in on the fun, security and fairness from the comfort of their homes! Generally, online games are by-far outside the purview and control of authorities. Many online games have been customized with tweaks in the rules of the traditional games. Such variations are not allowed legally in traditional currency-based online casinos, and this has been a major reason for the popularity of crypto casinos. Wagering in traditional casinos was done using the normal FIAT currencies which the players would stack in front of them and keep playing or would do a bank or wire transfer to a general account run by the casinos so that deductions are made per game they wager for.
Visitors to casinos who gamble are not fully conversant about crypto-currency gambling sites or are basically ignorant as they are accustomed to the primitive way it has been done and prefer staking in a physical place where they can interact directly with the systems. While some are usually suspicious of the popular crypto-currency; Bitcoin for instance. But with the current global trend, crypto currency has gained more than just popularity, it is fast becoming the best and safest medium to carry out very huge transaction, and for its anonymity it is gaining a global acceptance. The adoption of crypto as a means of wagering in online casinos is not far fetched, as majorly federal institutions and companies are already using it as a means of exchange.
Embracing Crypto Casinos:
Typically crypto casinos offer much lower house edges than the traditional casinos. Although the odds may vary from casino to casino, but many of the same rules used in traditional gambling apply to crypto gambling. Crypto currencies like Ethereum, Litecoin, Bitcoin Cash, and Dogecoin are gaining ground alongside Bitcoin in the crypto casinos. BC.Game was amongst the initial crypto casinos launched in 2017 that launched a wide variety of provably fair crypto games and then many others hopped on the crypto bandwagon! At this point I would like to remind our dear readers what we always believe: Don’t Trust, Verify It!
Most crypto casinos offer a wide variety of games with minimal transaction fees and unlimited daily transactions, whereas traditional currency based casinos have set limits and high transaction fees. The online digital nature of this business enables global access and easy availability of players in large numbers around the clock from various corners of the world! Though many crypto casinos are located offshore, it can be difficult to determine which offer good security. So it is very necessary to do a thorough check on them and look for information about the provable fairness. The best casinos will have information regarding their business and fairness of games listed on their websites along with ways to verify them.
For those considering crypto casinos as a new option for online gambling, even as the anonymity of crypto raises a lot of eyebrows; it is undeniable that crypto casinos offers a tremendous opportunity to move away from cash dependence. Nearly 95% of all traditional casino revenue flow comes from physical cash on hand. Apparently, this makes regulation and compliance with the law a considerable headache. The ideology of traditional casinos require their customers to provide them with private and personal information such as credit and debit card details. Risky, isn’t it? Not just that alone but the dreary process of filling out endless forms that require tons of details! On the other hand crypto casinos ideology flushes this impediment guaranteeing that gamblers’ personal information is safeguarded. Just from their crypto wallets they deposit into game wallet from which their wager is deducted. It is that simple! Users cannot escape a regular tax and duty which have a considerable impact on their total winnings including exuberant costs associated with transactions and deposits. I mean, when you think about it, all your personal details are filed in the casino and they will ensure that u pay the extra charges! But with crypto casinos most of these costs are nearly absolved, since transaction fees are either zero or low. Gamblers using crypto casinos evade the possibility of joining illegal gambling sites which are both expensive and perilous. With crypto casinos, clients receive full access to their earnings and can deposit/withdraw their cash/winnings from their account instantly from anywhere. It is no news that crypto currencies obey the laws of demand and supply. In simple words it implies that high demand has led to an increase in its value.
For gamblers taking advantage of crypto casinos, they have a choice of withdrawing earnings and exchanging it with fiat currency, or they could continue gambling as they wait for the crypto prices to increase!