Online casinos have gained traction recently due to the rise of technological innovations that made casino games available on every mobile and desktop device. Not only are there many different games that you can play in just a couple of taps from your smartphone’s browser, but you can easily compare different providers and find one that suits your preferences.
There are hundreds of different virtual providers available today, and the market has surpassed a net worth of over $60 billion in 2021. So, it’s safe to say that online casinos are here to stay since they have successfully integrated different technological innovations, which ultimately improved the experience for their worldwide audience.
At the same time, we must mention the bull cycle of the crypto market, which started in March 2020 after Bitcoin’s halving event that has generated so much attention from the media and also from the business sector.
The latest Bitcoin halving (May 2020) resulted in the longest bull market cycle to this date, as Bitcoin’s price nearly doubled by the end of that year and reached over $20,000 in December. Moreover, it continued to reach new heights in 2021 and culminated with a new price point of over $60,000.
Although the price of Bitcoin has changed ever since, it bounced back to $20,000 in 2022. The adoption of crypto, however, has entered the mainstream with the wide-reaching support of many businesses, including online casinos. Moreover, an increasing number of online businesses are accepting BTC payments.
In this article, we will cover the rise in popularity of Bitcoin slots and table games.
Bitcoin was the first cryptocurrency which was developed by Satoshi Nakamoto in 2008 in the wake of the global financial crisis. As a result, it isn’t controlled or monitored by any financial institution or other regulatory body. It is, in fact, created as a decentralized peer-to-peer-based digital currency.
The main goal of creating this digital currency was the development of a distributed ledger system, also mentioned as a peer-to-peer cash system in the original white paper which became the backbone of not just Bitcoin but other cryptocurrencies as well as the blockchain network.
Since the blockchain network is made as a distributed ledger, all of the transactions are transparent, and the data about them is readily available to every user. Also, the BTC transactions are fast and secure as they don’t rely on a third party (like fiat currencies do) in order to process and approve transactions.
The BTC transactions are added to a block of transactions, and they are processed and approved by the Bitcoin miners. In return for their work of maintaining the security of the blockchain network, they receive a block reward.
However, there is a catch. The block reward that miners get is halved every four years or whenever every 210,000 blocks are added to the network. The mechanism is important because it keeps the inflation rate of Bitcoin under control, which is vital for every BTC user and business given that there’s a limited supply of BTC, approximately 21 million tokens that can be mined. By 2022, around 18 million BTC have already been mined. Since the halving reduces the supply, the price of Bitcoin surges afterward.
Online Casinos and BTC
As previously mentioned, there is mainstream support from the business sector for Bitcoin. This is due to many factors, such as the convenient, fast, secure, and low-cost nature of the transactions. Hence, today there are over 10.000 companies that accept Bitcoin, including renowned brands such as Microsoft, WikiLeaks, AT&T, OkCupid, Twitch, PayPal, and many others.
Online casinos have also joined the mainstream adoption of crypto, and you can actually find an increasing number of casino sites that accept cryptocurrencies, including Bitcoin. Such platforms allow crypto users to securely wager with their crypto funds or even use crypto bonuses designed specifically for crypto users. It is a beneficial relationship not just for the crypto users but also for the providers.
The Main Differences Between Regular Games and Bitcoin Casino Games
A reputable online casino that accepts BTC will offer hundreds of different slot games by renowned games studious that you can play with your Bitcoin funds. You can find more information on this by visiting bitcasino.io.
In essence, there is little difference between Bitcoin slots and regular slot games, and the same applies to table games that you can also play with your BTC. The only difference is that you use cryptocurrencies, in this case, Bitcoin, to wager on the slots or table games.
Therefore, you can actually try your luck with different slots that range from slots based on TV shows, video games, fantasy-themed slots, and classic slots to live-dealer table casino games such as poker, roulette, baccarat, and craps in many different versions.
You just need to have a Bitcoin wallet in order to make a deposit and start playing the casino games of your choice. Everything functions seamlessly, and it’s pretty much the same process as playing with your fiat currencies.
On top of that, you will enjoy more advantages if you’re using your BTC, including fast and secure digital payments since Bitcoin is based on a decentralized blockchain network. Moreover, the transaction fees are minimal compared to the transaction fees of fiat currencies or conversion currency fees.
In conclusion, in the future, we will probably see many more Bitcoin slots and live-dealer games as well as Bitcoin casinos. This is down to the far-reaching impact which cryptocurrencies have had on the global business sector throughout the past years. As previously mentioned, nowadays, many businesses accept BTC and it is expected that many others will follow this trend.
Not only are there online casinos and other online businesses that accept BTC but also there are regular brick-and-mortar businesses that do so as well. Therefore, we are fast approaching a time when there will be hundreds of different casino sites that accept BTC payments and crypto payments in general.