by Kel Smalls
We will dwell on these and many other things in this post.
The Most Actively Developing Segments
The analytical resource Dapp Review indicated that games, including gambling, account for about 50% of all decentralized apps (DEX) based on Ethereum. Meanwhile, eight out of ten TRON ecosystem apps can be considered a kind of gambling institution. At the end of 2019, over $3.9 billion transactions were processed through TRON-based casinos, which makes up about 90% of the transactions volume on this blockchain. Hence, the audience is interested in not only free play slots and similar casino products. What are the reasons for such a development? If you’re interested, this is how to buy Ethereum.
1) Security and anonymity
Many players in the countries where there is a casino ban were finally able to play without hesitation and risk losing their money in web casinos, while online platforms were able to provide them these services.
2) Strengthened independence
Casino independence has been empowered by cryptocurrencies. They decreased dependence on the requirements of the regulator and payment systems and created its own certification of games, as a “guarantee of fairness.” Besides, thanks to the advent of cryptocurrency, competition between software developers has decreased, as large providers that receive the main profit from regulated sites (for example, NetEnt) ignore this market segment. If you check Google Trends for “bitcoin casino”, there is a steady increase of interest in this topic.
As the demand for cryptocurrency-based platforms grows, more players are turning to a crypto online casino, which offers faster transactions and strong privacy. For example, sites like BiggerZ, CloudBet, and 1xBit are gaining popularity by presenting a seamless, secure gaming experience with the added benefit of using cryptocurrencies for deposits and withdrawals. This is a sign of how the gaming world is evolving with digital currencies.
3) New payment options
A lot of affiliates that are regulated by local licenses and legislation have switched to paying affiliates (traffic providers) in cryptocurrency, which gives them loopholes to avoid high attention from inspectors and tax authorities.
4) Development of crypto games
The most impressive improvement introduced alongside the crypto payments is crypto games that provide players with a chance to check them for the honesty of the results. However, crypto games were mostly taken from classic gambling.
In Conclusion
Compared to online gambling with fiat money, cryptocurrency turnover is still very small. Nevertheless, we consider this emerging trend to be significant and essential for the iGaming industry as a whole. It is important to understand that a cryptocurrency is a difficult tool for a regular customer, but this will not last forever. The situation will change in the future, as we once got used to the Internet or e-payments. Someday we will see not the cryptocurrency renaissance. Then, the gambling world will be better prepared for big changes than any other sphere.
