No doubt! In today’s fast-moving world where technology is at the forefront of an ever-dynamic society, online casinos have evolved. Many online gaming sites have adopted a simpler, easier, and safer mode of online casino crypto payment. The online casino industry has also seen a surge in wagers placed digitally, with this segment comprising over 40% of online wagers by 2022. Indeed, the growth in the casino market can be attributed to new technologies such as chatbots.
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Annual turnover over $100 billion by 2022
Over the last couple of years, the gambling world has risen to all-time popularity. Many people have started to favor casino sites over traditional, land-based Casinos. Gambling experts estimate that by 2022, worldwide annual turnover would more than certainly reach $100 billion.
The said amount is around a third of the overall revenue produced from all gambling facilities globally. Based on this report, we may as well assume that online casinos are well on their way to becoming the gambling industry leaders in the near future. With Bitcoin games to feed the player’s risk appetite, the space is looking at a bright future.
Providers in the online gambling industry, particularly in the casino space, will increasingly offer engaging products to drive user adoption and player spending, and one survey forecasted, online gambling users, to almost double, reaching 684 million by 2022. With continuing efforts by a number of states to legalize online offerings, the North American market is ripe for future growth.
Crypto payments redefine online casinos
The payment methods available through the casino site are quite numerous. It is no longer news that cryptocurrencies are by far the safest mode of transaction, with a preference for Bitcoin. Bitcoin had a massive spike in value and was worth around $20,000 at its peak back in 2017. Today’s Bitcoin price is $20,527.59 USD with a 24-hour trading volume of $33,184,451,514 USD.
That was an all-time high, and even though years down the line, the value had risen and depreciated significantly, Bitcoin still remains a valuable model for online casino games. The new generation of gamblers prefers a faster and more secure mode of payment rather than playing for fiat currencies, and that is what exactly cryptocurrencies offer.
Starting with instant online casinos, then came the mobile age and now the gambling industry is reigned by cryptocurrencies. As a result, Bitcoin is widely utilized as an online crypto payment. Canadian online casinos utilize the popular crypto in all their games.
Online casino crypto payments pro
One of the major advantages online casinos have over land-based casinos is their accessibility. All online casino games can be played at any time and location. All that you will require is a smart device and a good connection to the Internet. To make it even better, online casino payout rates are even higher.
To even make it better, Bitcoin has a payment medium that is fully optimized for online use. What this means for users is that every deposit and withdrawal is done instantly without any hassles. However, this is not the case with other currencies.
Another beautiful aspect of using Bitcoin is that trading with cryptocurrency helps you to maintain your absolute privacy, and this is just the case with Bitcoin. So in case you aren’t aware, online casinos make you play under aliases and encourage you to be anonymous to some degree, however, Bitcoin takes a step further.
In utilizing this cryptocurrency, you can also enhance your safety and protection at the casino sites you visit frequently. Finally, many experts believe that Bitcoin will become one of the most desired payment options for online casino crypto payments.
Words of caution
With the obvious benefits that cryptocurrency offers such as anonymity, quick deposits and withdrawals, and low fees, it is blatantly clear to see why crypto casinos are catching on fast with both gamers and operators. Words of caution though, there are plenty of great casinos out there, but there are also some scams that you need to be aware of. Pay attention to the details and look for licensing information to ensure that you’re playing on a safe and reputable platform. And if in doubt, always ask around in forums or on social media to get a second opinion.