Teresa Hoy 
Accepting cryptocurrency works as a competitive advantage for contemporary online casinos. Even new establishments like HitnSpin get to reserve a superior position in the iGaming industry for going beyond fiat money models.
Survey statistics reveal that more than half of all crypto transactions take place in the realm of online casinos. That definitely contributed to the current position of crypto-gambling, which was worth over $150 million last year.
It works in favor of attracting and retaining serious high-rollers as customers. Now, for gamers, it is the flexibility and exclusive benefits that work in favor of tapping into more unique gaming facilities.
These are enough reasons to establish how crypto casinos are more than a trend but instrumental in shaping the future of gambling. This article, however, delves deeper into the bigger picture of the whole story.
Historical Contexts of Bitcoin Casinos
It may seem like Nakamoto’s Bitcoin introduced the world to cryptocurrency. That is not the case. The idea of cryptographic electronic money has been lingering in the form of eCash since the mid-80s. Nonetheless, the notorious BTC took it to the next level.
Officially surfacing in 2008, the main idea behind BTC or any other crypto-money is to eliminate the intervention of any central authorities. Banks and the government, notably. Blockchain technology supporting peer-to-peer transactions calls for a completely decentralized network.
The launch of this technology coincided with the proliferation of online casinos across the world. As the iGaming sector was undergoing a global shift to become a well-regulated and promising industry in several countries, it endorsed new technologies to offer better experiences to modern punters. The ease of international transactions was a big part of the business.
By 2012–2013, cryptocurrency gambling was well adopted by many online gambling platforms as an excellent payment method. While credit, debit cards, PayPal, and eWallet all had a verifiable “standing” time and withdrawal limit, non-fungible tokens (NFTs) were incredible for offering faster, cheaper cashouts.
Advantages of Cryptocurrency for iGaming
These are ideally decentralized transactions with no relationship with your main bank. However, it doesn’t go without making blockchain push gamblers toward a fair and efficient gaming environment. It is a complete win-win situation for both casinos and users. The augmented components of higher personal privacy and security while making rapid purchases are something that will appeal the most to serious high-rollers and diverse players.
Check out the list of perks offered by crypto:
● Better Outreachs: The main draw for casinos to open up to cryptocurrency dealings is a workable way to enter unbanked markets on an international level. It allows establishments to maintain seamless customer experiences via borderless transactions;
● Anonymous Gaming: This doesn’t mean you can play at a casino that is not accepted in your country and win unauthenticated funds. It only means that the transaction will not be linked to your main bank account;
● Greater Security: Because banks are not involved, users automatically get higher security and a lower chance of getting into problem gambling, causing a rift in their finances;
● Higher Statistics: Dealing with tokens has a minimal chance of conflicting with changing regulatory or tax norms or COVID-like discrepancies;
● Cheaper Withdrawas: In contrast to credit, debit cards, or eWallet transfers, bitcoin withdrawals have very few fees or none at all. You can get the most out of your winning money;
● Free Money: Compared to playing with bankrolls, the applicability of utilizing faucets and airdrops in play-to-earn games or slot machine gaming is more flexible. You can unlock wide opportunities to earn free crypto money this way;
● Greater Efficiency: The jargon associated with fiat money is the passing on of “physical commodities’. It goes through particular “processing” steps that incur fees and services. Being the ideal decentralized, self-sufficient technology, BTC and its counterparts have next to none of these headaches.
As platforms like Twitch lift the ban on online gambling and gambling-friendly consoles like Nintendo Switch offer eight play-to-earn NFT games, it is something like a diaspora that capitalizes on the blockchain ecosystem. Bettors get what they have been looking for for a long time. It is more favorable, especially for international players embracing this ingenious type of payment.
Is This the Future?
Crypto is on the rise, and so is iGaming. The wide range of benefits outlined in this article makes all the sense to presume the impact of crypto-money on online gambling. It is a common user behavior for crypto investors to also take an interest in gambling. So, crypto gaming is rightfully becoming one of the pivotal contributors to the future of online gambling. While it takes a drastic learning curve for anyone to understand how it works, it has got to be a catch for punters who already own NFTs!
