The ever-increasing attraction of Bitcoin for businesses and entrepreneurs can mean the cryptocurrency has overgrown its virtual gambling cradle.
The ground breaking block chain tech that the entire Bitcoin system is powered by started haunting the minds of techno enthusiasts and entrepreneurs of various business fields instantly after the cryptocurrency was first introduced to public in 2010. Unsurprisingly, many were very quick to understand BTC is capable of causing a real revolution in Internet payment industry.
As many of us know, virtual casino gaming portals have been pioneers in officially adopting bitcoins as one of the payment methods available. Later on, the Internet gambling industry has witnessed the rise of Bitcoin only online casinos, which were also the first to try the entirely new business model that, eventually, made a huge contribution to unveiling all the benefits of the new virtual currency. Unlike traditional real-money based payment solutions used by gamblers previously, Bitcoin is not governed by existing laws and regulations, and, no less importantly, it is decentralized by nature. Apart from it, with the help of the new cryptocurrency, players are able to gamble almost absolutely anonymously, and this very fact alone has probably been crucial in propping up the popularity of Bitcoin casinos. Now, BTC also makes its way to other fields and businesses where one just can’t go without online payments.
Within recent years, the industry of virtual gambling has seen the birth and development of big crypto casino brands like BitCasino.io and dozens of others. Their success is rather easy to explain, as what they offer their customers on top of quick and efficient BTC deposits and withdrawals are thousands of various games and other wagering activities, user-friendly customer support services, hugely attractive bonuses and promotions, and many other things modern gamblers are looking for.
Apart from it, these days, bitcoins are also accepted at online sportsbooks, and also poker rooms, meaning there aren’t probably any too compelling reasons left for players to keep making real-money payments, the more so BTC is by far the only legal solution available today to gamers that are residents of countries or jurisdictions where online gambling as such is heavily regulated, restricted, or even prohibited. Even more interestingly, nowadays, only virtual Bitcoin casinos can be equipped with fairness provability mechanisms that enable players to verify the transparency of the outcomes of certain games from a portal’s selection, and thus make a player absolutely confident they are not being cheated or scammed by the house. With payments in fiat currencies, you just can’t have any of that.