The gambling industry has evolved tremendously in the past decade. Casinos have expanded their global reach by going online. A new variety of games has emerged, piquing the interests of millions of gamblers around the world. Among such developments, it is evident to see the rise of casinos running on cryptocurrencies. Bitcoin, the world’s largest cryptocurrency, has forayed into the gambling domain with Bitcoin casinos.
While traditional casinos are becoming obsolete, Bitcoin casinos are gaining momentum as the new wave in the gambling industry. The popularity of Bitcoin grows exponentially, and with it, Bitcoin casinos are becoming internationally accepted and regulated. The use of digital currency in casinos is not experiencing any technical constraints. Several gamblers are making their moves from traditional casinos to Bitcoin casinos. There is more to understand why this transition influences the new online arena for gambling, lotteries, and sports betting.
What is Bitcoin Casino?
Bitcoin casinos are quite popular among professional gamblers today. Bitcoin casinos’ origin can be dated back to barely a year ago when Bitcoin witnessed a promising upsurge in its value. The growing reliability of Bitcoin drove the emergence of Bitcoin casinos. These casinos work exclusively online. Transactional data of Bitcoin casinos are managed on the Bitcoin blockchain technology. An online casino becomes a Bitcoin casino when it accepts Bitcoin as a currency. Bitcoin casinos can not only transact money in BTC token but also convert fiat currencies such as US dollars into Bitcoins for gambling purposes.
What is Traditional Casino?
Traditional casinos, on the other hand, are a facility for gambling services. These casinos have a physical presence and are integrated into resorts, cruise ships, hotels, and other tourist hotspots. Traditional casinos are operational online and can deliver the same gambling services with payments through credit cards. Most traditional casinos host live entertainment to attract gamblers and keep them engaged. Some casinos even organize stand-up comedy shows and concerts for their customers.
Bitcoin Casino vs. Traditional Casino
In 2020, there has been significant growth in the number of online casinos accepting Bitcoins. This sudden rise in Bitcoin casinos has intrigued gamblers from different parts of the world. Their main concern is whether to gamble on Bitcoin casinos or not. Unlike investors, most gamblers are new to the dimensions of cryptocurrency. They have qualms about how Bitcoin prices are volatile and how they would impact their earnings through sports betting and gambling.
Compared to traditional casinos, online Bitcoin casinos have a lot of plus points. They have improved the gambling experience and helped casinos monetize more with the Bitcoin cryptocurrency. Bitcoin casinos and traditional casinos are available in almost every part of the world. However, some factors keep Bitcoin casinos a few steps ahead of traditional casinos.
Bitcoin Casino Advantages
The following advantages of Bitcoin casinos are the key differentiators that drive their demand over traditional casinos.
- Bitcoin casinos offer more variety of games. From table games to 1-v-1 duels, Bitcoin casinos have games designed to meet every gambler’s needs out there.
- Bitcoin betting sites register a high payout of 99%. Due to a wide variety of games, people stay engaged in these casinos and end up winning more at the end of the day.
- Bitcoin transactions are safe and protected by blockchain technologies. The transactional data managed by a Bitcoin casino is encrypted at multiple levels.
- Bitcoin casinos are more convenient than traditional casinos. They are available in almost every country and can be accessed online through the internet.
- Bonuses and promotions offered by Bitcoin casinos are more lucrative. These casino platforms help players double their earnings by rewarding as much as 5 BTC per player.
- Bitcoin betting is also relatively cheaper. There is no need to make any high deposits to play games on Bitcoin casinos. The transactional fees are zeroed, and the casinos barely charge anything on your earnings.
- The best advantage of Bitcoin casinos is that they are transparent and more secure than traditional casinos. These platforms are equipped with programs and algorithms that ensure fair play. There is no chance of steals, cheats, or fraud while gambling with Bitcoins.
Similarities in Bitcoin Casinos and Traditional Casinos
Despite the differences, there are several things common between traditional and Bitcoin casinos. The games played in both these are more or less common. Several games are being included in Bitcoin casinos due to their popularity in traditional casinos. Players can engage in both these casinos in the online mode. Traditional casinos are also using online platforms to reach a maximum number of people. Similar to Bitcoin transactions, traditional casinos accept credit card payments from players. Both Bitcoin casinos and traditional casinos run their casino games and sports-based betting in a similar, legal fashion. These common factors make Bitcoin casinos ideal alternatives to traditional gambling businesses.
Future of Casinos
Considering the differences and similarities, it is quite significant that Bitcoin casinos are better. Traditional casinos are falling short of all the benefits that Bitcoin casinos offer. The features of Bitcoin casinos highlighter above are also signifying the huge difference in the gambling experience. Bitcoin casinos are designed to help any person gamble on their favorite game. When players take these differences into account, most of them may prefer choosing an online gambling site of a Bitcoin casino. From gaming variety to betting spreads, Bitcoin casinos offer a high-quality gambling experience in all aspects. At the end of the day, Bitcoin casinos make sure your winning chances increase. And that is all that matters in the world of gambling.