In recent years, the online gambling industry has been enjoying an unprecedented purple patch in popularity and revenue. Indeed, projections from Grand View Research estimate the sector’s value at $63.5 billion in 2022 – and claim that it will enjoy a compound annual growth rate (CAGR) of 11.7% each year until 2030.
The secret to its success? A constant ability to innovate and adapt to give its customers the best user experience possible. One of the latest developments in this area is the emergence of the crypto casino, which accepts deposits and facilitates withdrawals in a wide variety of currencies, from Bitcoin and Ethereum to Tether and Cardano. For a better insight into just why these platforms are rapidly gaining an avid fanbase, we’ve laid out the top reasons below.
1. Range of games
Although crypto casinos are still a relatively new phenomenon, the best platforms are going all out to attract new clientele. For example, Bitcasino.io is Canada’s number one crypto casino precisely due to the fact that it stocks a wide array of titles, from slots to live table games and everything in between. There’s a VIP programme available for high rollers, while there’s even a sportsbook component of the site to cater to betting fans.
2. Higher deposit/betting limits
Generally speaking, crypto casinos are able to offer their players higher limits on deposits and wagers. That’s because they’re not always subject to the same strict rules and regulations that traditional casinos using fiat currencies are. As such, punters who like nothing better than to place a sizable bet on their fancied outcome will find themselves right at home at a crypto casino.
3. Faster processing times
Casinos which use fiat currencies invariably involve third parties in the handling of their transactions, such as payment portal sites, banks and credit card providers. This means that there is often a significant delay between withdrawing funds and receiving them in your account, with processing sometimes taking several days. Given the sophisticated nature of blockchain technology, crypto transactions can be processed in a matter of minutes.
4. Better perks and promos
What’s more, the removal of the aforementioned middlemen of financial third parties means that the overheads incurred by the casino provider are reduced. In the majority of cases, crypto casinos choose to pass these savings onto their customers in the form of better odds, more lucrative bonuses and greater promotions. In a world where every site is trying to outdo one another in terms of the rewards they offer repeat customers, crypto casinos have a substantial advantage in this respect.
5. Enhanced anonymity
Another huge draw of crypto casinos is the privacy and anonymity they afford. When signing up to a regular online casino, it’s often obligatory to undergo a rigorous identity check, which may involve uploading personal documents to the site in question. With crypto casinos, no such intrusions on your privacy occur. All you need do is provide some basic details and connect to your crypto account or wallet – and away you go!
6. Tight cybersecurity
Of course, the ease with which one can sign up to a crypto casino and begin gambling might fuel fears that its operators are compromising on safety and security. However, nothing could be further from the truth. The aforementioned blockchain technology creates and stores a transparent but immutable record of all transactions performed on the blockchain, so your funds are safe at all times. According to many experts, cryptocurrencies are even safer than fiat ones in a number of different respects.
Now that you’re aware of why so many people are signing up to crypto casinos, there’s only one thing left to do – see what all the fuss is about for yourself!