Crypto Online Casinos Development in 2021: Trends, Stats & More
It seems that nothing can stop the growth of the online casino industry. Web casinos profited from the pandemics by offering a safer way to gamble. The industry made sure to follow the latest trends, and that includes allowing cryptocurrencies as payment methods.
Crypto online casinos are the latest hit. This guide discusses new trends in crypto gambling and what we can expect from it. Here is how this industry moves and what the experts predict for its future!
More Gambling Sites Will Accept Cryptocurrencies
It was never this simple to find a legit Bitcoin casino. All it takes is to visit a professional review site and pick your favorite brand. The platform selection is impressive since more casinos than ever are accepting cryptocurrencies.
The reason is obvious – crypto has become incredibly popular. Players around the world are using it because it offers many benefits when gambling online.
This is why players prefer cryptocurrencies:
- They are more anonymous than fiat currencies. Decentralized digital currencies mean that the authorities and financial institutions don’t monitor how you spend your funds.
- They are a safe way to deposit. That’s because you don’t have to enter your actual financial details.
- They are simple to use. The entire depositing process takes a few seconds, and it’s beginner-friendly.
Crypto gambling has become a huge hit among players. It’s no wonder that major gaming platforms are rushing to implement this payment method. That has become necessary to stay competitive in this fierce market.
Players Can Pick from Multiple Crypto Options
The latest statistics indicate that there are 6,000 digital currencies available in 2021. On the other hand, the top 20 on the list take approximately 90% of the market. All that indicates that users aren’t only interested in Bitcoins. Many players use Ethereum, Litecoin, Dogecoin, and other currencies. The number of casinos accepting these alternatives isn’t impressive at this point.
Most platforms include Bitcoin, and a limited portion accepts Ethereum. It’s only a handful of online casinos that expand to other cryptos. That’s a trend that will likely change in 2021 and the coming years. The market trends will inspire the casinos to implement more alternatives to their crypto selection.
The Crypto Gambling Market Will Increase Its Value
The value of the entire crypto market fluctuates significantly. However, it first broke the $2 trillion mark in 2021. That’s admirable and confirms the growth trend continues. The crypto market keeps increasing its total value every year.
We notice the same trend in the crypto gambling market. It’s impossible to get exact statistics, but some estimations show it’s worth over $250 million now. As more players start using digital currencies for online gambling, this value will increase.
The Crypto Market Might Become More Regulated
Digital currency institutions are facing huge pressure from authorities. Even the largest crypto exchange, Binance, will become a regulated exchange. According to reports, that’s why their CEO Changpeng “CZ” Zhao is stepping down.
This comes with benefits and downsides for players. The positive is that regulations minimize the risk of fraud and foul play. On the other hand, gamblers will lose some anonymity offered by cryptocurrencies. Additionally, the casinos might increase withdrawal and other fees.
The Popularity of Gambling Cryptocurrencies Will Continue Growing
Did you know that there are specialized cryptocurrencies created for gambling? Some serve to wager at online casinos. You’ll also find currencies that utilize blockchain technology to design decentralized casino networks. These guarantee fair play and ensure everyone stands an equal chance of winning.
Some casinos even release their cryptocurrency as loyalty tokens. Others allow you to invest in the casino by buying their currency. If the casino profits, you get a share of that revenue.
The estimation is that the crypto gambling currencies are worth around $939 million. That’s a 170% increase compared to the last 12 months. This growth won’t change in the next year. That indicates gambling cryptocurrencies can be a smart business endeavor for investors.
More Games Available to Play with Crypto
The crypto gaming library is already comprehensive. You can find many slots, cards, and table game options to play with digital currencies. As more developers are joining this trend, we’ll see more games designed for crypto.
Online casinos will also come up with ways to encourage players to use digital currencies. That could include specialized bonuses or other promotions for those who use crypto. A trend we already notice is that cryptocurrency deposits come free from any fees.
Final Thoughts
The online gambling industry has always been famous for innovations. They don’t hesitate to come up and follow the latest trends. It’s no surprise crypto online casinos are improving every day. Players can expect to have more platforms, games, and digital currencies available. The signs indicate the crypto gambling market will grow steadily in the coming years.
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