Crypto Casinos: The Future of the Industry? (2022)

Crypto Casinos: The Future of the Industry?

Crypto Casinos: The Future of the Industry?

Online gambling is now on the rise for plenty of reasons. In part, such growth is explained by constant changes and improvements. However, it’s not just about offering more games, more generous promotions, improving usability, and providing better conditions for gamblers overall—it’s also about using the latest technologies and exploring new areas.

Now we witness the rise of crypto casinos—the companies that changed the rules of the game and represented a fundamentally new approach to gambling, and this raises a lot of questions. What can they give to gamblers? Does choosing a crypto casino with no fiat currencies really make sense? Are transactions that transparent? Let's discuss these and many other important aspects of crypto gambling.

Gambling can be very addictive, players are advised to be careful and self-controlled.

Crypto Casinos

Types of Crypto Casinos

Generally speaking, there are two types of casinos where players can make deposits and withdraw their winnings in Bitcoin and other cryptocurrencies. These are mixed casinos and crypto casinos that don’t accept any of the fiat currencies, and as usual, they both have their pros and cons.


Mixed casinos

A lot of new casinos that launched 1-2 years ago are actually mixed casinos—they accept both fiat and cryptocurrencies and let players choose one of the wide variety of payment methods that work better for them personally. Moreover, some old platforms with millions of players worldwide started using cryptocurrencies to attract new members and make their regular users keep playing at their platforms, and well, that works for most people. However, not all such platforms offer bonuses in cryptocurrencies and let players participating in loyalty programs get their rewards in crypto.


Crypto casinos with no fiat currencies accepted

That’s definitely a new type of casino, and well, they grow pretty rapidly. Some platforms don’t accept any fiat currencies, don’t offer good old payment methods like Skrill or bank transfers but provide players with an opportunity to deposit money and withdraw it in the most widely used cryptocurrencies, from Bitcoin and Ethereum to Dogecoin and Litecoin. On the one hand, such an approach works—more and more gamblers want to benefit from playing in crypto, but on the other hand, such companies narrow their target audiences and provide fewer options to people who may want to use different depositing and withdrawing methods.

Benefits of Playing at Crypto Casinos

Apparently, the strategy of offering players crypto payment methods works, and here’s why.


Privacy and anonymity

Undoubtedly, this is the number one reason for most gamblers to play at crypto casinos. Payments aren’t processed by banks or payment services—you don’t have to share any private information, payments are transparent, and your crypto payments aren’t trackable. So, there are no legal problems, no taxes, no identification—just money transferred to your account.


No extra fees

It’s pretty hard to find any crypto or even a mixed casino that has extra fees for crypto deposits or withdrawals. In 99% of cases, you pay nothing for a transaction, and it’s pretty beneficial for all players, let alone high rollers.


Speed

In the vast majority of cases, crypto payments are instant. Players who know how it feels to wait until your payment is processed for days or even weeks often withdraw their winnings in crypto just because in most cases, payment processing is instant or takes less than 12 hours.


Good investment

A lot of players prefer to withdraw their winnings in crypto because it’s a good investment. We all know about the Bitcoin growth which is more than just impressive, and we all heard about the guys who sold their BTCs much earlier than they should, losing their potential millionaire status. If you are playing crypto not because you want to spend all the winnings in the nearest future but because you expect this currency to grow, crypto casinos are definitely a good option for you.


Bonuses in cryptocurrencies

Some crypto casinos, especially the new niche platforms like WildCoins also offer bonuses in Bitcoin, Ethereum, and other cryptocurrencies accepted by a company. Well, that seems fair—if a player makes a deposit in a particular currency, why can’t they get bonuses in that currency, too? On some websites, gamblers can get up to 4 Bitcoin in total, but the thing is they should always consider wagering requirements. Ideally, a casino shouldn’t set higher wagers for crypto bonuses—if the company doesn’t follow this rule, playing at this casino hoping to get that BTC bonus doesn’t make much sense.

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  • + 10% CASHBACK for playing on Saturday and Sunday!

Drawbacks of Playing at Crypto Casinos

Still, crypto casinos, as well as cryptocurrencies themselves are definitely not perfect. It’s important to consider all the pros and cons, so we’re going to talk about the drawbacks in more detail below, too.


Is verification still required?

The interesting fact is that though most players can just create an account on a crypto casino website and start playing, verification is still required. Don’t get us wrong—it’s usually optional, but verified gamblers can withdraw their earnings much faster than non-verified users.


Not so widely used at they seem to be

Though cryptocurrencies are rapidly growing and becoming more and more widely used, they’re still pretty far away from the fiat currencies that can be spent at local stores. Not all players want to invest in crypto—some are playing to spend their winnings on their daily needs.


Availability in particular countries

Unfortunately, playing in Bitcoin or other cryptocurrencies is still not available in pretty many countries, including China, Egypt, Iraq, and Morocco. Some may argue that gambling isn’t legalized in many countries anyway, but still, crypto payments that are supposed to be fully transparent, private, and not restricted in any way, still don’t work in particular areas.

Conclusion: Are Crypto Casinos Worth It?

It depends. If you have crypto wallets, want to make deposits and withdraw your winnings in crypto, and most importantly, if you know exactly how such payments work, playing at crypto casinos is definitely a good idea. However, if such payments aren’t available in your country and if you aren’t sure that cryptocurrency is such a good investment, good old fiat casinos may work better for you.

Gambling can be very addictive, players are advised to be careful and self-controlled.

More Articles on Investing

If you'd like to read more articles on Investing and how to grow your wealth, simply follow the link below!

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About Dalton Rush

Dalton Rush has always been aware of a centuries-old cult's intent to control the majority through centrally controlled global organizations by deceiving the public into accepting their system with the help of multiple made-up crises. This is why he developed a passion for self-education, self-expression, freedom, privacy, and independence, all of which led to the creation of RushRadar.

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