Some casinos in Las Vegas announced that they will accept cryptocurrency payments by players. Moreover, some casinos develop blockchain gambling sites. Why is it in demand and what should we know about that?
Many legal casinos and slot machines available in New Zealand provide crypto payments. The main reason for the legalization of casinos was an appearance of full control of payment within the casinos, winnings, and their safety. Therefore, this new trend with crypto casinos allows operators to accept safe payments. On top of that, players feel safe while making transactions, since casinos may seem dubious for the first time.
Nowadays, it’s already possible to transfer money via cryptocurrency wallets. So, you can make a deposit, and even withdraw winnings. As a result, it allows players not to wait for international transfers for several days, and avoid paying commission to banks.
The same policy is going to appear in the land-based casinos. On the page below, we will give you everything you need to know about crypto casinos. Including the main threats that players may face.
What is a crypto casino?
By and large, the “cryptocurrency casino” differs from the usual one only in the key payment instrument. They use not fiat money, but digital coins.
Otherwise, crypto gambling platforms are no different from ordinary online casinos. Here you can also find thousands of types of slots, roulette, or, for example, sports betting.
Among the features of crypto casinos, they provide crypto wallets that store digital coins. Typically, these wallets have places for the popular “crypto”, including Bitcoin, Ethereum, Binance, XPR, and others.
But, it’s not as tasty as you may think. As well as regular casinos, crypto casinos still have some restrictions regarding the withdrawal of funds to the personal account. But, as time shows, top online casinos worldwide with a good reputation do not delay payments, and cryptocurrency transactions are faster than traditional e-wallets, or banking cards.
Why did crypto casinos become popular?
Obviously, the main concept of cryptocurrencies has become the key to the popularity of crypto casinos today. Users like the idea of secure and anonymous transactions that are very difficult to track or fake.
This payment method allows players to avoid bank fees and various third-party payment systems by sending money directly to their accounts.
The cryptocurrency transaction process does not require the transfer of personal data, bank account information, or identification documents. And modern crypto exchanges allow you to do this as quickly as transferring money to your friend via bank application.
In addition, some land-based casinos in Las Vegas began to promote the idea of a cryptocurrency in a casino. A couple of weeks ago, the management of the Resorts World Las Vegas hotel-casino announced a partnership with the Gemini cryptocurrency platform.
In the beginning, at Resorts World Las Vegas players could only pay for non-gambling things. But the administration assures that soon players will be able to buy gaming chips with cryptocurrency. However, it’s necessary to approve the use of cryptocurrencies in casinos at the legislative level.
The main obstacle for casinos to introduce cryptocurrencies in casinos is the government regulations. In different countries, there are different attitudes toward bitcoin and other cryptocurrencies.
Another feature of the use of cryptocurrencies in gambling is blockchain technology, which supports all digital coins without exception.
The fact is that with the help of a decentralized chain, you can create random number generators (RNG). In general, this is responsible for the operation of all online slots and even poker rooms.
By the way, in early 2021, multiple world poker champion Phil Ivey confirmed his intention to be an ambassador. He contributes to the launch of Virtue Poker, the first online poker platform on the blockchain.
In the near future, casino developers should present their decentralized product, which guarantees the principles of fair play, a high degree of protection of users’ money, and comfortable use of the poker room.
The balance of each Virtue Poker player will be stored on their Ethereum wallets, and the money will go directly to the poker room only during the game.
This means that if a casino suddenly closes, all users’ money will remain with them.
Crypto casino is a pretty good idea, or rather a technology that is already playing a big role in some casinos.
The problem with this lies only in government control and hatters of cryptocurrencies, who do not consider digital money to be a reliable financial means.
However, in the case of the development of the correct and successful use of crypto casinos, they can solve the main problem of the players, which is the quick transfer of funds between accounts and full control over the transactions they carry out.
Winning at online casinos highly depends on the bets that you place. This is important to bet wisely. It doesn’t work if you bet everything you’ve got. Yes, you can multiply the win, but equally fast you can lose it all. For this reason I want to give you some tips about how to bet at online casinos and benefit.
- Set money limits. The most useful way to bet wisely and save your budget is to limit it. When you have a certain available sum for a single game, you’ll probably waste it all, and the limit will stop you from betting more.
- Sort out the money amounts. Basically, it’s the same as the limits. There’s only one difference. You can place different limits on different games. For example, $400 is the limit for slots, and $430 is the limit for poker. As soon as you bet the slots limit out, quit the game and proceed to poker.
- Start at the lowest. No matter if you play a table game or a typical slot. Start with the lowest bet possible. You have to understand the game and analyze the gameplay. When you know how the bets are placed, or if it’s live, how other players bet, you can gradually increase the bet.
- Watch the gameplay. Every casino game result depends on your luck. But not only your luck decides what will be further. The randomizer gives out the symbols or playing cards. If you’ve noticed, sometimes randomizers are too generous for money. Take this advantage and raise your bet during repetitive wins. However, when they cease and you start losing, lower the bet or even quit the game. The constant one-by-one losses can damage your budget.
Remember these simple tips if you want to win at the online games. And keep in mind that the Bet Max button is there only for risky high-rollers or not very smart people. Betting is the key for a good fortune, use it with wits.
Players are obliged to deposit the minimum amount to the account for receiving the won funds. Otherwise, the transaction will not work.
Online gambling is a challenging thing that is even ending in failure and addiction for some people. So, before you start playing at casinos online, make sure that you are not prone to addictions and take responsibility for your actions. I recommend making this decision only if you feel right about it. After this you have to consider some more points before actual start.
- Is it legal? You need to check if online gambling is legal in your country. Otherwise it may cost you a sentence. However, there is a little hint. Even though the online casinos are prohibited, there still can be a chance to play at international gambling sites. Check if it’s right for your country. For example, New Zealanders can’t play and open an online casino within their country, but they can gamble at international ones based in Malta or Curacao.
- Real or scam? The most important decision is to choose the online casino. There are many scams, or fake casinos, that just take your money and never give back. On the other hand, there are good right casinos online. They are licensed and have their activity officially registered. If you have trouble with searching for the right one, we have already cared about it. Check our relevant articles about safe casinos online that are also acceptable in NZ. Then you can be sure there is no risk of being deceived.
- Free games are everything! When you just start your experience at the casinos, you have to start for free. There is no need to deposit until you figure out what online gambling is at all. Begin with a free mode. Some casinos don’t even require registration.
- It’s time for a bonus! As soon as you are ready to continue with real money, go sign-up. Generally, gambling sites offer impressive deposit bonuses for beginners.So, use this opportunity and claim for the one. In advance, read the terms and wagering requirements. You’ll have to follow them.
- The game makes sense. Remember that each game is different. Not only in the type and rules, but also in the theoretical return to player. To be more exact, you need to select a game with a higher RTP (over 95%) in order to get a bigger win. Usually, the high RTP games are table like poker, favourite roulette, blackjack or ever-known baccarat.
- Use strategies. Although all games are random, people are still trying to find some consistent pattern. Besides, they think over strategies of betting. If you try to follow some strategy at table games, for example, it may result in an advantage by the end.
- Finish on time. Just at the moment when you hit a big sum, close the game. Yes, you have to unless you want to lose everything. Understand that you’ve had enough for today and continue next time. Taking a break at the right time is the secret for successful gambling.
All in all, even considering all these tips for the beginning of your gambling career, remember that your luck is the key. Each game is absolutely random and the result depends on your luck only. Sometimes you have big luck and win, but whenever you feel that you luck goes away, stop playing and quit for a better time.