Crypto gambling has boomed over the last few years as people got additional income trading cryptos and used chunks of that wealth to try their luck online. Cryptocurrencies have greatly helped the gambling industry, bringing in tons of fresh youngsters who are not prone to gambling it up and taking some risks.
All of this has made quite a few massive bitcoin casinos, allowing them to grow in size and popularity by the day.
The question is, can crypto gambling overtake traditional sites, and can crypto casinos and sportsbooks become even more popular than the ones that use fiat money?
Let’s take a look at some of the reasons this might happen, as well as some of the drawbacks and why it may always stay second to traditional options.
Crypto Gambling is Open to All
Online gambling has become very restricted in many parts of the world as local governments attempt to use regulations to ensure they get more taxes and keep the business domestic. This has hurt many gamblers who are now forced to play on restricted, often much less comprehensive gambling platforms, taking away much of the fun.
Moreover, games like online poker that require big player pools to work properly have been damaged even more by such regulations and local licensing. The advantage of crypto gambling sites is that they accept players from all over the world. You are welcome at most sites if you have cryptos to play with.
This means that by playing with cryptos, you get to play all games you could imagine, compete against players from all over the world, and more.
Lifting the restrictions related to local regulations and licensing means that crypto gambling is more fun and enjoyable for the end user, and it’s one of the biggest reasons crypto gambling could one day become mainstream.
What Would It Take?
So what exactly would it take for crypto gambling to become mainstream and overtake traditional casino trends? On the one hand, more people would need to adopt Bitcoin and other cryptos as something they transact with daily, which is still far from happening.
In fact, most players are still quite cautious about using cryptos for anything other than trading them, as keeping on to virtual coins can often lead to disasters. Cryptocurrencies becoming somewhat more stable in relation to fiat money would make people believe they are a viable option for things like gambling.
While anonymity and privacy are a big part of the crypto world, there are also concerns about being defrauded whenever you use them.
For that reason, some level of oversight or regulation may be required to take crypto gambling from the shadows and into the mainstream.
Yet, with even certain governments pushing for virtual money to become mainstream, there is some hope that a day may come when crypto coins like Bitcoin will be the number one currency of the iGaming industry.
Where Is Crypto Gambling Today?
According to cryptofanbetting.com, crypto gambling has already grown into a serious industry of its own, with dozens of prestigious online operators only accepting transactions in Bitcoin and various altcoins.
These sites offer the same kind of wholesome gambling experience that you can find at traditional sites, but with reduced fees, bigger bonuses, and often more action.
Crypto gambling is available to everyone and has far fewer requirements in terms of identity confirmation, which means it’s ideal for those looking to stay under the radar.
With every passing year, crypto casinos and other crypto gambling sites build more renown, and some of the biggest companies in this world are getting the word out there by sponsoring major sports clubs and getting involved with a variety of real-world events.
If you are curious about crypto gambling and its future, the best step you can probably take is to join one of the sites today and start doing some digging yourself.