In the last few years, online gambling has become a very popular activity around the world. Many people started favoring casino sites over the traditional, land-based casinos. Studies have shown that online casinos are on their way to become market leaders in the gambling industry. Experts believe that by 2022, the global annual revenue will more than likely be over $100 billion, which will be around a third of the total revenue made by all gambling facilities worldwide.
Online casinos accept numerous payment methods and currencies. One of the most interesting and probably the safest payment methods is cryptocurrencies, specifically Bitcoin. In 2017, Bitcoin had a massive spike in value and was worth around $20,000 in its peak. That value has gone down since then, but it is extremely valuable. More and more online casinos implement Bitcoin as an accepted payment method with each passing day, which is why we wanted to give you a closer look and explain why this currency is one of the best to use.
We’ll also dive in and explain some of the pros that come with online gambling and the advantages that casino sites over land-based casinos. Let’s check them out.
The Pros of Gambling Online
One of the biggest advantages that online casinos have over the land-based ones is their availability. You can access all casino games at any time and place. All you need is a stable Internet connection. To make things even sweeter, the payout percentages at online casinos are much better. Online casinos also hold regular promotions and hand bonuses to the players very often. Every player plays under an alias, which means that they have anonymity.
The games at casino sites are created by some of the best game providers in the world, which means that every player is set to have a unique experience. The registration process lasts a minute. Last, but not least, casino sites are extremely safe and secure. They use AI to enforce security and fair-play. SSL-encryptions are in charge of the security, while Random Number Generators create random outcomes of each game, thus ensuring fair-play.
The Beauty of Bitcoin
One of the biggest advantages that Bitcoin has as a payment method is that this currency is fully optimized for online use. That means that every deposit and withdrawal with it are instant, which is not the case with all other currencies. Even though deposits are instant, it usually takes a few days, sometimes even weeks for your withdrawals to be transferred to your account. That is not the case with Bitcoin.
Next up, trading with cryptocurrencies lets you keep your full anonymity. That is the case with Bitcoin. Yes, online casinos let you play under aliases and allow you to be anonymous to some extent, but Bitcoin takes it one step further. By using this cryptocurrency, you further increase your safety and security on the casino sites that you visit and play.
Finally, Bitcoin is a highly decentralized currency. No one can freeze your account or take your Bitcoins away from you. Its decentralization also allows you to go around some of the possible fees that apply to the rest of the payment methods. Even if you have some mandatory fees, they are more than likely to be extremely low.
What The Future Holds
Many experts believe that Bitcoin will become one of the most desired payment methods for online gambling. Its use has many advantages for both the casino sites and users. Of course, we cannot say for sure that Bitcoin will dominate the online gambling world, but judging from all the advantages of using it, there’s no doubt that it’s much better than most of the payment methods.