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| Will the Online Casino Industry Ever Fully Support
Bitcoin? |
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| Image : Pixabay |
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Bitcoin has been
on the cards for several years – so to speak – but has struggled to
make any dent in the mainstream consciousness. While the digital payment
industry has grown and evolved and people have changed how they handle their
money and whether or not they, Bitcoin has seemed to slow. Yet, it looks like
the online casino industry is one sector that Bitcoin will make changes in. So,
how is Bitcoin set to change the online casino industry in the next couple of
years?
As this compendium of online casinos shows, there are a
multitude of factors that people use to decide which online casino to play on,
including welcome bonuses such as how many free spins they might get or whether
the casino supports modern methods of payments such as Neteller, Skrill, and
Bitcoin. So, for Bitcoin to be enough of a priority that it is listed alongside
other benefits, then it's clear that those who engage with online casinos are
interested in what Bitcoin can do for them. This bottom-up approach, with the
users of the technology pulling the tech change down to them, can be powerful.
Should these Bitcoin casinos succeed, then more will likely pop up, with ways
in which the existing e-wallets could work with potential Bitcoin ones to
change how money is transferred around the industry. |
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| Image : Pixabay |
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The online casino
industry also helps to showcase the inherent benefits of cryptocurrency and
enhances what it can do. The successful uptake of the medium in one sector,
especially one that continues to rise, means that the idea of cryptocurrency
being widely adopted is more palatable to mainstream audiences. Blockchain is
known for being faster and
more secure, which could add unique benefits to any industry
that adopts it, especially those which operate solely online. Blockchain
operating on an online casino would also eliminate any doubt the player might
have on the house advantage, as the exchange would be based on intrinsic values
that are even more transparent. It is this aspect of blockchain that advocates
of the technology most want to push.
Of course, there are
several other industries that showcase how blockchain can be used. The
online site
CryptoKitties allows players to purchase a unique blockchain-based digital
cat, which can be traded, in order to demonstrate how the ledger function of
blockchain works. The more easy-to-partake-in ways to test out blockchain like
this, the more likely it is to be adopted on a wider scale. The main battle for
blockchain adoption is the opinion people have of the cryptocurrency function
being volatile, but examples such as CryptoKitties help to convince these
critics that the same could be said for any financial.
The existence of some Bitcoin online casinos
shows that there is a place for them in the industry. Whether or not this will
translate to a wider adoption is a question for
the future. Even if the casinos can post successes, many people will still be
sceptical based on the smear campaign against blockchain and cryptocurrency
that prevents the technology from actualising. |
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