Bitcoin, together with the technologies it’s built upon, is more than just capable of revolutionizing the online gaming industry. And if it happens, then it happens really soon, as, under current conditions, operators of gambling portals don’t have that much time to implement the Bitcoin platform to be fully competitive.
The things is, many people will still prefer gambling on the Internet to many other online pastimes, but, as online casino games are getting more and more legally restrained in many countries, the necessity for developers to come up with innovative ideas to circumvent the law becomes obvious. Under such conditions, Bitcoin becomes a great opportunity for gambling operators and enthusiasts.
The industry of online gambling is almost as old as the open Internet itself – both appeared about two decades ago. Consequently, there’s nothing surprising that online gambling has been progressing alongside the Worldwide Web, and shares many technologies initially introduced in the latter, including the availability for mobile and portable devices. Bitcoin was another logical step in the development of both the Internet and the industry of online casino gaming it stems from. A revolutionary step. The Bitcoin system, it is based on the decentralized block-chain technology enabling users to perform P2P transactions of funds without operators accessing them in any manner, and capable of accommodating and securely storing records of billions and trillions of such transactions made.
Expectedly or not, Bitcoin has become a tough cookie for the world’s governments and regulatory bodies. Legal gambling portals using the cryptocurrency for payments are almost impossible to be closed, especially if both operators and players take precautions when providing/using services. It is commonly known that Bitcoin online casino is available even to the residents of the states and jurisdictions where online gambling is prohibited. Basically, this means one can enjoy their favorite casino games, online poker, sports betting activities and other kinds of online gambling entertainment wherever they stay at.
As estimated by multiple experts, Bitcoin gambling is very likely to gradually drive out traditional payments in ‘regular’ currencies from the online gambling industry. Likewise, players are expected to abandon their chips and bankrolls in EUR/USD/GBP or other currencies, and start investing into Bitcoins. For many reasons, the cryptocurrency may become the only valuable means of payment in virtual casinos and gambling portals. It’s very advantageous and easy to use, and that is why Bitcoins are so appealing for millions of online gamblers all over the world. Apart from that, Bitcoin payments are instant and cheap to handle and perform for both gamblers and operators. The commission fees are unbelievably low, which is also a great favour in terms of launching a gambling business, and, what’s probably even more important, this is a great possibility to increase profits.
As already mentioned above, all Bitcoin transactions are recorded and stored in the block-chain, and are therefore fully transparent and verifiable. Unfortunately, this fact doesn’t mean that Bitcoin gambling is always fair. However, there are many BTC gambling website offers provably fair gaming services – in other words, a player is able to verify the fairness and impartiality of the outcome of just any game they choose to play, all thanks to cryptographic algorithms generating random numbers.
It is very important for players, however, to choose a reliable online casino they can doubtlessly trust their Bitcoin funds to, and the truth is not just every of them is worth your attention, so players steadily preferring verifiable BTC casinos may be right. Secure Bitcoin casino games are the future of online gambling.