Bitcoin online gambling has become a popular way to gamble for real money. But how does it compare to traditional casinos? Let’s take a look at the pros and cons of each option.
Beginning of Traditional Casinos.
Traditional casinos have been around for centuries, first appearing in Italy and later spreading to other parts of Europe. The first real casino was the Ridotto, which opened in Venice in 1638 and soon became a popular destination for the wealthy and the aristocracy.
Nowadays, there are dozens of casinos dotted worldwide, usually located in tourist destinations or near major cities. Since then, they’ve undergone a huge transformation, becoming more luxurious and offering a wider range of games.
It’s estimated that the global casino industry is now worth around $450 billion. It’s thought that most of this revenue comes from the Asia Pacific, followed by the United States.
The Rise of Bitcoin Online Gambling
Since the internet took off in the 1990s, many industries have seen the opportunity to develop and launch their businesses wider. One industry that has benefited from this new technology is the crypto casino.
Online gambling with Bitcoin has risen in popularity from the start of the internet age. Back then, gambling sites were primal for today’s ideals but were considered efficient at that time. As technology advances, online casinos evolved into more sophisticated gamin platforms offering modern websites optimized for every device you can imagine, including mobiles, PCs, tablets, and even smartwatches.
Part of the evolution of online casinos is introducing the use of cryptocurrencies for betting. Blockchain technology paved the way to allow a new payment method for gamblers using digital currencies to play casino games today.
How Bitcoin Casinos Work
Crypto casinos typically work similarly to any other online casino site. The only difference between these gambling platforms is their payment method.
For new players trying out these crypto-based gambling sites, using digital currencies such as Bitcoins, Ethereum or Litecoins can be a new thing worth exploring.
Unlike traditional casinos, having proper knowledge about cryptocurrencies is essential since you will not be using fiat currencies such as Dollars or Euros.
Since payments involve cryptos, you would need a crypto wallet to store your digital assets. If you want to know more about what wallet to use, read the article How to Choose the Best Bitcoin Wallet.
Crypto casinos also use blockchains as an additional security layer for all their transactions. It is to ensure that all payments are done smoothly without any hitches and provide transparency to the whole process.
Bitcoin online gambling also uses provably fair gaming, a technology that allows players to verify the fairness of each game result. It is made possible by using cryptographic algorithms that are difficult to tamper with.
If you want to know more about provably fair casinos, read this guide, “The Truth About Provably Fair Casino Games.”
Traditional Casinos Vs. Bitcoin Onlne Gambling Casinos
Now that we know the basics of both types of casinos, it’s time to compare them. Here are some of the benefits of traditional casinos and bitcoin gambling casinos:
Advantages of Traditional Casinos
- Accessibility – Traditional casinos are easier to access since they’re located in major cities and tourist destinations. You can also find them near highways for easy access.
- Convenience – Traditional casinos offer more comfort since they have a wide range of games and services that you can enjoy. They also have ATMs, restaurants, and other amenities that you can take advantage of.
- Familiarity – Traditional casinos are more familiar to most people since they’ve been around for a long time. They’re also more regulated, so you can be sure that they’re fair and safe to play in.
- Variety – You’ll find various games at traditional casinos, from slots and poker to roulette and blackjack.
Advantages of Crypto Casinos
- Anonymity – Online gamblers have many reasons why they prefer playing in online casinos rather than traditional casinos. One of those is not needing to share their personal information, thus keeping their identity private.
- Borderless, Easy Access – In a study on why internet gamblers prefer online versus traditional venues, one of the reasons is accessibility. The research abstract suggests that “the relative convenience, comfort, and ease of Internet gambling” has been a compelling factor in online casinos. Crypto casinos also reach beyond borders and allow you to play games even when you’re in places where traditional casinos are restricted or blocked.
- More Games to Play – Online casinos offer a huge variety of games where you can find hundreds of Crypto Casino Slots and table games of your liking. Surely, traditional casinos may have flashy lights and provide a social gaming experience. Still, crypto casinos offer more private gaming as you enjoy the wide range of game variations to choose from.
- Play Wherever, Whenever You Want – Opening hours and ID checks are the least of your worries with crypto casinos. Players can bet on the games anytime they want, and anywhere they may be.
- More Bonuses and Bigger Jackpots – Casino players play for money, and the bigger the bonuses and jackpots are offered, the more attractive it is for them.
- Cheaper – Thanks to blockchain technology, running a crypto casino is more affordable than a traditional one. Crypto casinos don’t need to spend a lot of money getting a gambling license.
- Faster Transactions – With blockchain, transactions are much faster and cheaper for deposits and withdrawals. Therefore, there is no need for a third party to facilitate trade, thus eliminating exorbitant bank fees.
Ther you have it! These are some of the advantages of bitcoin gambling casinos versus traditional casinos. So, if you’re looking for a more convenient, cheaper, and faster way to gamble, Bitcoin gambling is the way to go. So try it out now and see for yourself!
Will blockchain take over the online gambling industry?
Over the past ten years, we can see how blockchain technology has disrupted almost all industries worldwide, including online gambling.
As more online casino players see the benefits of using cryptos for placing their bets, we can assume that crypto casinos will make a lasting impression that will spur further growth in the years to come.
Bitcoin online gambling is already here, growing in popularity every day. With traditional casinos, you have to worry about government regulation and high fees.
With online bitcoin gambling, you need to worry about finding a reputable site. There are plenty of reputable bitcoin online gambling sites, so you should have no trouble finding one that suits your needs.
I hope that this article has helped you understand the difference between bitcoin online gambling and traditional casinos. If you want to know more about crypto casinos or read blog posts like these, visit WildBet!
If you have any questions, feel free to leave a comment below, thanks. Thanks for reading!