In today’s fast-moving world, where technology is clearly at the forefront, online casinos have evolved, and many online gaming sites have adopted this new technology that makes payments possible via cryptocurrencies. After making this move, the online casino industry has seen a surge in wagers placed via digital payments and currently comprises over 40% of online wages placed.
In the last couple of years, the gambling world has risen to an all-time high in popularity, and many casino clients prefer the online version rather than going to traditional land-based casinos. Gambling experts estimate that by the end of 2022, the worldwide annual turnover for online casino gambling can reach well above 100 billion dollars. This figure makes up around a third of the overall revenue produced by all gambling facilities globally, and we can conclude that the online sector is well on its way to becoming the industries leading choice in the near future.
Providers of the online casino industry will increasingly engage users with offers that will drive adoption and spending, and in one forecast, there is a prediction of users doubling by the end of 2022. This outlook, in addition to a number of states continuing their efforts to legalise online gambling the market is ripe for future growth.
Crypto payments redefine online casinos
The many payment options available on casino sites are quite numerous, and it is no longer news that cryptocurrencies are by far the safest method of transacting with online casinos, with the preference leaning towards Bitcoin.
Bitcoin still remains a valuable model for online casino games, and the newer generation of gamblers far prefer the safer and faster payment model that cryptocurrencies offer over that of the old Fiat banking systems. One of the major advantages of online casinos over land-based casinos is their accessibility, all you need is a mobile device along with a good internet connection, and you have an instant wider audience. To make things even better, the payout rates of online casinos are much higher than that of their land-based counterparts.
The beautiful aspect of using bitcoin as a payment method is that it is completely optimised for online use, which means that every transaction is settled instantly without any hassles or third-party intermediaries. This, however, is not the case with normal fiat currencies, where banks and wire transfers can take extended periods of time to finalise, and should there be any issues with the payments after hours, one can only resolve the issue by contacting the bank.
In utilising cryptocurrency payments, users can enhance their safety and protection at the casino sites they visit frequently, finally, many experts believe that bitcoin will become one of the most desired payment options for online casino crypto payments in the future.
With the obvious benefits that cryptocurrencies offer, such as anonymous deposits and withdrawals along with lower fees, it is blatantly clear to see why crypto casinos are catching on fast with both gamers and operators.