Bitcoin And Casinos
When Bitcoin was first traded as a currency in 2011 no-one could know the impact that it would have on the gambling industry which has been revolutionized by its introduction. The first gambling site using Bitcoin was Satoshi DICE. In 2012 Satoshi DICE was responsible for half the Bitcoin transaction volume.
It did not take long for the industry to realize the great potential that was being created and very soon new sites were added daily. Since then technology has increased greatly due in part to the investment made by the gambling industry.
The amount of different games and experiences you can have today is way off the scale to just a few years ago. With virtual reality, e-sports, live action etc. we are in a different world in comparison to that first site.
It has put casinos in a far better light with the provable fairness of betting.
With cryptocurrency an important requirement is everything is honest, transparent and above-board. By incorporating these principles in gambling it improves the experience. The chances of winning are better thanks to the way the technology is designed to eliminate fraud and deception.
Bitcoin Casino Growth
One of the reasons for Bitcoin growth among casinos is that being a digital currency it allows for the transactions to remain anonymous. There is no third-party involved like a bank or financial institution and so they are safe and secure. The details of the person who is gambling are not shared with third-parties.
Casinos have to show transparency and because they have to abide by the rules of provable fairness. By law they have to make it is easy for a customer to see what the odds are and the house edge etc.
Bitcoin casinos are providing fun with lots of different games and experiences. It is a growth industry and Bitcoins are the future for both customers and casinos. They will continue to grow over the next decade as the financial system moves onto the blockchain.