Cryptocurrency and online gambling the future, Online crypto bitcoin, Global gambling architecture design guide
Cryptocurrency and Online Gambling the Future
27 June 2022
The first ever casino opened in 1638 in Venice, Italy. Since then we have come a long way. Not only do we have these giant palaces of casino’s now but we also saw an uprising in online casinos and online sports betting. But as of late something new has been popping up: Crypto and Bitcoin casinos. Are these that different? We look at the differences in this article. Read that and more below.
Online casino vs Bitcoin casino
In essence online casinos operate 100% the same as cryptocurrency casino’s. Just the money or currency the credits or tokens that you deposit and use to play are different.
So they operate in the same way but are they the same? Not really, your deposited money in a cryptocurrency casino can fluctuate or change value. You can deposit a certain amount of BTC (Bitcoin) or other coins and a bit later the value of those coins could have dropped. Leaving you with less money in your wallet on the casino site, so less money to use to gamble.
So a classic online casino is safer if you are someone that doesn’t like the fluctuation of your wallet. Sadly not every casino is created equal. That’s why you should stick to the popular casinos like “Casino Classic” or others alike. If you are interested about finding a reputable online casino read here the Casino Classic review. Where the pros and cons get highlighted so you always know what you are getting yourself into!
Transaction costs and payout speeds
This is a bit of an advantage of a Cryptocurrency casino. They offer faster payout speeds and transactions costs however online casinos are getting very close to matching this as of late. A lot of people don’t really use this as an argument since the cons of a cryptocurrency currently outweigh that by a lot. It’s easy to crave faster payout speeds or save a few cents on transaction costs but in the end it really will get back to you if you are planning to play regularly.
Also the practice of holding and knowing how to buy bitcoins or other coins can be rather confusing to a lot of people, another drawback of using cryptocurrency casinos.
Whenever you then buy that coin you are risking your money since you are in a sense investing into an asset, maybe without you realising but technically you are investing your money even if it is just to put it in a casino. Holding those makes you an investor then.
With most casinos, you can find only right now you can pay via either Credit Card or Paypal or something like a wire transfer. Even in select cases, some casinos accept WesterUnion cash transfers. But very rarely you’ll see this. Also, payout happens very easily via the same ways you deposited. With online casinos the support is also always there to help you out with anything you are having trouble with.
In contrast, a cryptocurrency casino will often say they can’t help you with the depositing or withdrawing process since you need to understand more about cryptocurrency. So it’s pretty evident to stay away a bit from bitcoin and cryptocurrency casinos for a bit now. Well, at least for now, since they do offer utility later down the line in the future.
Cryptocurrency and Online Gambling the Future – Bonuses
A few years ago, with the start of cryptocurrency casinos, we saw those casinos offer amazing bonuses for new players. But this has slowed down, and right now, the bonuses you get from an online casino vs a cryptocurrency casino are valued around the same when calculated. Cryptocurrency casinos use a lot of techniques to get you in the door and get you hooked with bonuses rather than actual rewards online casinos payout. They care and value their customers more.
Often cryptocurrency casinos will lose money in the short term on bonuses to hook you and recoup those costs from you in the long-term. Online casinos, however, reward and thank a player for choosing them over others. Also, later down the line, you might often get loyalty bonuses from online casinos, something you would not get from a cryptocurrency casino.
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