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Cryptocurrency in a casino: a new trend or waste of time?

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.

Blockchain

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.

Conclusion

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.

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FAQ

The gambling market now offers a lot of online casinos. You don’t even know where to look first. It’s a competitive field. Analyzing one casino with its eye catching bonus system, you may think it’s the one. But then you stumble upon a different casino and now this one seems better. All in all, catchy bonuses and specific design are not the important things.

What you should think of at the beginning is safety. Safety of your data, your banking details and the whole online environment which is very often full of frauds. So, what is the safest online casino and how can you know it’s the one?

Security system

Gambling sites are vulnerable to Internet frauds. This means every casino must have unbreakable safeguard. This is the security system generally driven by a bit/SSL encryption. Casino sites protect themselves and players from all sides including private info safety, encrypted transactions and identity verification.

Generally, gambling sites post information about the security measures on their pages. Very often you can find seals of popular security systems applied. Besides, you should check the T&Cs and privacy policy to understand in what ways the casino uses your data.

Safe games

This refers mainly to the fairness of games. The game results should be random. An RNG is responsible for such results. It makes the reels spin and let out any possible combination. The same is with the cards and balls.

There are also special authorities that test the casino games. The eCOGRA and Independent Auditors can give a proof certificate of fair randomized games. If you see a seal of any testing bodies, then you’ve come to the right casino.

The safest online casinos

Frankly speaking, it’s not easy to name just one safe online casino. There are many of them that have a good reputation and nice service which also includes total safety. Let me make a list of the safe online casinos. Looking through all of them, you can make up your mind on one or two to test them.

  • 888 Casino. MGA, UKGC, Gibraltar and GBGA licenses, full protection including NoSpyware Adware, eCOGRA certificate.
  • JackpotCity casino. MGA license, SSL encryption applied, eCOGRA tested.
  • Leovegas. MGA, UKGC, Swedish and Danish licenses, Digicert SSL encryption, Independent Audits.
  • Spin Casino. MGA license, SSL encrypted, eCOGRA certificate.
  • Casumo casino. MGA license, SSL encrypted, DSS compliant, TST certificate.

If you love gambling, online casinos can be a great choice for you. They have a lot of advantages: large bonuses, interesting promotions, numerous games, and so on.

Why people choose slots?

Slot machines are the most attractive for players online casino games. It’s obviously clear why people choose slots. They are easy to play. You don’t even need to think much. Just bet and spin. Slots also have an impact on visual perception. Everyone likes to look at something bright, shiny, and especially, with a story behind.

Why people don’t play slots ?

This all is good, but no one sees that slots are the least profitable. Their theoretical return to player slightly exceeds 97%. In fact, the average percentage of slots RTP is 94%. Can you imagine? The 6% of your money goes to the online casino. So, basically you don’t even get paid more than you have deposited.

Hence it gets almost impossible to win on slots. Better to say, you can win but it’s difficult to keep the winning result. Though there are several ways to move closer the chance of leaving the game with a satisfactory feeling.

How to win slots?

  • Choose the right slot. Saying the word ‘right’ I mean the high RTP. Remember that for beneficial results the slot’s RTP must be over 95%. If it’s lower, it’s not even worth trying. Before starting to play, check the game rules. There you’ll find the percentage.
  • Start on minimum. Don’t bet much from the very beginning. Most probably your first rounds will be failing. So, it makes no sense. Wait until you make about 10 spins and only then raise the bet. But also gradually.
  • Play with bets. Concerning the fact that casino games are spun by random number generators, you can equally randomly change bets. However, don’t practise it excessively. When you feel like winning, raise the bet to get the higher pay. Then again if you have constant failing results, lower it on minimum.
  • Stop on time. The best thing that you can do for your winnings is to quit the game. As soon as you win higher than your initial balance, quit it. Don’t make another spin thinking “the next gonna hit higher!”. It won’t. RNGs are meant to decrease your budget after a successful big win.

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