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Is there a Future for Cryptocurrency in the Gambling Space?

2 mins
19 August 2019, 17:00 GMT+0000
Updated by Adam James
19 August 2019, 17:00 GMT+0000
Gambling and cryptocurrency go together like hotdogs and mustard or pizza and Italy. Their emergence is an appealing feast for both crypto fans and those operating in the gambling sector. Here we will look into why crypto has a promising future in the gambling space, also looking at why the two groups of people may be drawn to both industries – and checking out the current obstacles preventing a crypto-gambling boom. Read on!

The Common Traits Between Gamblers and Crypto Enthusiasts

There are logical and pragmatic reasons why cryptocurrencies do have a place in the gambling space, which we will dive into shortly. However, those involved with either gambling or crypto may be the type of people to be interested in the other. Crypto is not the same as gambling but investing in it and having a few spins on the slot machines are not a million miles apart. With both activities, there is an interest or a form of entertainment to be experienced and both similarly present potential for increased earnings. This is why many gamblers already have stashes of crypto in their Atomic wallet and why bitcoin brainiacs frequently play awesome games at RoyalVegas Casino CA as well as other cool sites. The two activities may go hand in hand but so do the people involved. Thus, creating a bigger pool of opportunity and potential for both industries to feed off one another and grow.

Why Crypto Has a Future in the Gambling Industry

The big reason crypto has a future in the gambling industry is because crypto and the technology it uses to function can provide solutions to some common problems that online casinos face. Moreover, overcoming these problems with crypto will enable the gaming experience to be improved and potentially attract more gamblers to the table. One of the biggest annoyances for gamers is the snail-pace that withdrawals take. After enjoying a big win from gambling, some online casinos take days to process payouts and even charge players to withdraw money to certain banks or e-wallets. Winning at an online casino shouldn’t be this difficult and it doesn’t have to be with crypto. Crypto makes sure payments are executed quicker and cheaper than most online casinos can offer, adding convenience to the gaming experience. Crypto technologies also have the ability to make online gambling safer with fewer data breaches and it will be able to prove fairness. These are some of the reasons why crypto online casinos are surging in popularity.

Problems Facing Crypto in Gambling

Before crypto can really make its mark on the gambling industry, there needs to be some change. At current, online casinos and land-based casinos are reluctant to embrace crypto because of a lack of regulation. Without regulations in place, casinos hands are tied, and they cannot operate lawfully with crypto – in some locations. The more attractive news is that world leaders are looking for ways to regulate these borderless assets.


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