by Anar Karimli
Posted on April 18th, 2020
One of the most innovative concepts in the gambling sector today is the cryptocurrency. Despite the fact that cryptocurrency itself is something new for many of us, it is already popular in the casino industry. And I can assure you that investing in a casino cryptocurrency platform is one of the best business decisions you can make. Here, you have several options. For instance, you can create your casino from scratch, buy a casino system, etc. In short, to know why casino cryptocurrency business is best for you, go ahead and read this article carefully.
For the first time, the cryptocurrency usage in casinos happened in 2011. It was three years after the introduction of Bitcoin. By the way, Bitcoin is still the most popular currency in this regard. The place where cryptocurrency was initially leveraged was an online gambling site. And all of the financial transactions were containing digital money.
The same year, the introduction of the first casino using Bitcoin as the currency was presented. It did not take long for the platform to convert over 50% of all transactions into Bitcoin. It is worth mentioning that this fact played a huge role in making Bitcoin reach its position today. Note that the monetary equivalent of Bitcoin changes frequently. But at the moment it is around $10,500.
What many of us were expecting, occurred in 2013. The first-ever blockchain casino was given to the use of players. The industry reacted very positively to this casino cryptocurrency site. Also, the rate of Bitcoin surged after this event.
At the end of 2013, a history was written in the sector when a player won the equivalent of about $1.6 million. It was a tremendous moment that led to rules regarding the limit of the introduction of bitcoin casinos.
Speaking of the initially licensed crypto gambling center, I should say that it came to sunlight in 2014. This casino was known for enticing other cryptocurrencies. Since then, not many things have altered. The casino industry is moving at a normal speed. And you can be confident that no better moment is or has been there to start your casino cryptocurrency business.
One of the unique sides of crypto casinos is the way players make payment there. As it is crystal clear, people make and receive payments with crypto money, such as Bitcoin, in such gambling centers. Nevertheless, I should say that the software used in such casinos is different, too. Bear in mind that if you ever want to establish a casino cryptocurrency business, you will have to build it on a Blockchain system. This type of software is popular for its advantages.
Let me open up the system for you so that your understanding becomes more clear. The software known as blockchain consists of blocks. All of these blocks include encrypted data related to transactions. Applying it to our situation, the operations belong to the crypto casino, here. The more financial transactions happen, the more blocks are incorporated into this chain.
Its operating mechanism is very similar to that of people. Blockchain encrypts and protects sensitive information, just like individuals do. And that is indeed one of the characteristics of blockchain that has made it prominent.
As you may know, one of the most critical issues in online casinos was security. A lot of players and casino owners have suffered from it until now. With the introduction of crypto casinos, this issue has disappeared. So, by investing in the crypto casino business, you, too, can benefit from the highest level of security.
Bitcoin casino is a program between ordinary casino software and blockchain technology. Its features are a server, casino site, casino platform, slot games, and payment technologies. As you may understand, crypto payment is also available in such casinos. Still, some more payment methods are usually integrated into this system.
Recently done studies suggest that online casino players prefer to have several payment options. It is another advantage of running a casino cryptocurrency business.
As stated above, cryptocurrency casinos belong to a separate market. Only crypto money is utilized in them. But if you go for a Bitcoin casino, you may well integrate multiple payment systems to your casino platform. Needless to say, it will entice a lot more customers. As a result, you can enhance your business much faster compared to regular online casinos.
Now you have a good idea of both blockchain technology in the gambling world and Bitcoin. It is time to learn more about the Bitcoin casino options you have.
If you are planning to get into this industry, you must know that the two most common types of casinos are Whitelabel and Turnkey casino. Both of them have their pros and cons. For example, in Whitelabel casino, you will get a casino website which will contain everything readily in it. For instance, you will get slot machines, payment systems, bonuses, and rewards, etc. Unfortunately, you are unable to change anything in the Whitelabel casino. And that is the main drawback of Whitelabel.
Speaking of Turnkey casino, I must say it offers more flexibility. Although you do not receive everything in this casino, I still prefer it over Whitelabel. Here, let’s say you get the casino games, but payment systems are still unavailable. So, it is your job to integrate them.
The turnkey casino is a better option for crypto casino businesses, too. It is again due to the flexibility it offers.
If you want to create a Turnkey Bitcoin casino, you should generate an e-wallet account first. Note that all transactions will be implemented through the e-wallet of the manager for some time. So, if that is not there, your platform will fail.
You will see many benefits coming with the crypto casinos. Note that those benefits profit both business owners and players. It is the reason why so many people want to have such a casino.
First of all, the anonymity issue is there. If you start such a business, all aspects of your players will be anonymous. They include identity, payment data, and more.
Further, the regulations are different for crypto casinos. These types of casinos are comparatively new in the industry. Considering its benefits, too, the majority of countries do not apply strict regulations on them. Hence, it becomes much easier for people to run crypto casinos.
Moreover, as a business owner, you get a lot of privileges. For instance, there are diverse slot games, strong casino marketing ideas, financial stability, high security in the system, etc.
Cryptocurrency online gambling is still getting popular day by day. So, we have not seen its peak yet. But the current situation shows that casino cryptocurrency business is one of the best for business people. As I noted above, it has some significant benefits which you cannot see in ordinary casinos. Therefore, I advise you to invest in this business and see its benefits when it gets even more popular. I hope you found this piece of article useful. If you act accordingly, you can truly create a lucrative crypto casino. To read more beneficial articles, check out our blogs page.