5 Major Reasons Blockchain is the Future of iGaming

Andrew Price
Posted by Andrew Price
2WinPower Partner, owner of the gambling establishments network.
Updated: 22/09/2022

The profitability of the gambling business is determined by numerous factors. While the house edge is the gross gaming revenue, a casino manager still has to deduct taxes, satisfy payment operators, and cover additional fees. Even though the return-to-player rate at online gambling establishments is higher than in ground halls, some players are still unsatisfied with their winning rates.

The recent branch of the gaming industry, Blockchain casinos, tries to solve this problem. Due to the lack of third-party intermediaries during transactions and, in some cases, the absence of a licence, such establishments increase winning rates while staying profitable.

Blockchain in iGaming: general info

2WinPower offers to investigate even more opportunities in the crypto casino business and order the project development from a proficient team.

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Wagering in Virtual Reality

A common place to meet people playing with Bitcoin and other tokens is Metaverse. There are dozens of big virtual reality clubs that are tied to unique digital environments.

The majority of such clients are progressive youngsters who own dedicated equipment and know where and how to get cryptocurrency. Besides, VR gambling is the closest technology possible that can recreate the real-life casino atmosphere.

The biggest virtual decentralised establishments:

  • Chateau Satoshi;
  • Serenity Island;
  • Atari Casino;
  • EarnBet;
  • Decentral Games;
  • Tominoya Casino;
  • Bloktopia.

These gambling establishments offer quality entertainment services within their digital premises. Experts consider such casino activities the future of the industry. That is why their popularity is rising, and more people are eager to obtain corresponding tokens that grant access to new exciting experiences.

The Anonymity of Interaction

A huge advantage of gambling at crypto casinos is the complete confidentiality of personality. All information that a punter needs to register and start playing is an e-mail address and an e-wallet number.

To sign-up for a regular online casino, operators are made to ask for an ID to verify their age and check the exclusion lists. This is due to the financial surveillance that is conducted to avoid money laundering and other criminal activities. Any illegal behaviour is impossible on crypto gambling sites, which is another huge advantage.

Transparency of Transactions

Blockchain technology is a unique achievement by programmers. Its essence allows seeing all crypto-transferring sessions, namely their senders and addressees. This means that it is easy to monitor and prove how much and where tokens came from and where they are destined.

Such a unique functionality of Blockchain eliminates any possibility of money laundering, cheating, or stealing. Transparency of crypto transfers is one of the main reasons why players choose these gambling establishments.

High Security Levels

Online casino security and crypto transfers

The anonymity of personality and clear transactions facilitate players' safety. Blockchain technology is elaborated in a way that all information (including financial) sent from one place is guaranteed to be delivered to its destination without any possibility to be stolen, changed, or distorted.

The path of crypto transactions comprises:

  1. Digital currency makes use of public-key cryptography to grant the integrity of transfers on the Web.
  2. To transfer tokens, each participant has pairs of public and private keys that grant access to the crypto they own.
  3. The unlocking elements consist of letters and numbers to authorise the sending and receiving of funds.
  4. With the help of a private key, a sender “signs” a transfer and designates tokens to a new owner.
  5. The transaction is then mentioned in the Blockchain and delivered to the receiver.

This is a brief overview of how secure a crypto transfer is. The time necessary to complete the transaction is minimal. In the majority of cases, the sending process is instant, and a receiver gets access to the featured resources immediately after they were delivered.

Organisational Uniqueness

An online casino is a business in the first place. Entrepreneurs set up gambling platforms to earn money by offering quality entertainment to players. The crypto casino project is just easier to set up and more profitable to run due to the technological advantage.

Key aspects of organisational uniqueness of a Blockchain business:

Multiplatformity

While VR casinos are the most common place where cryptocurrency is used, there are other possibilities to develop Bitcoin-driven gambling opportunities.

Regular gaming sites can also utilise digital tokens. Players can have access to them from desktop or mobile browsers. Furthermore, gambling apps also can have the possibility to use crypto

Entertainment software

Another uniqueness of Blockchain casinos is their games. Since such wagering facilities utilise crypto, they can not support fiat currency, meaning providers develop such software separately.

Lucky, the recent in-game exchange technology allows players to enjoy the content that accepts both crypto and traditional money

Licensing flexibility

When an operator sets up a gambling platform with digital currency as the only payment method, official registration is not necessary.

Since crypto transactions are direct and do not involve official banking facilities, a government permit is not obligatory

Registration potential

A gambling licence is necessary if a casino also uses fiat payment methods. In this case, the registration of such a venue is a must.

Furthermore, an official licence also instils reliability in the portal and assures potential clients about the honesty of the establishment

The advertisement for a Blockchain-based gambling site is no different from a regular online casino. Operators utilise social media marketing, search engine optimisation, affiliate partnership, and other proven methods for boosting brand awareness and attracting clients.

The Main Things about Blockchain in iGaming

Turnkey Bitcoin casino: key notions

The technological advancement of financial possibilities has peaked with cryptocurrency. Experts call it the future of not only the entertainment industry but also of other spheres. Blockchain has reshaped online casinos and their players, allowing the niche to move to a completely different level.

Key aspects of cryptocurrency changes in iGaming:

  • Metaverse casinos became the main destinations where players can spend digital tokens to pay for entertainment.
  • Total anonymity of interaction is the main reason for such a huge demand for Blockchain portals among punters.
  • Transparency of transactions eliminates any possibility of fraud, cheating, money laundering, or any other criminal activity in crypto casinos.
  • The safety of transfers is guaranteed since while the operation is in progress, it is impossible to change, intercept, or steal any of the sending data.
  • The organisational uniqueness of a crypto casino makes it easier for an entrepreneur to enter the industry and become a successful market participant.

The assembly of a Bitcoin-based project can be simplified with the assistance of an experienced partner. The 2WinPower aggregator offers a professional elaboration of a crypto casino on turnkey conditions. We consider all peculiarities of the target region and the entrepreneur’s preferences.

Order a ready-made Bitcoin casino from our studio and join a fast-progressing entertainment industry with an individual brand.

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More information can be found by contacting our customer support.

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