Online casinos have been the preferred choice for players in the past few years and for a good reason. They offer privacy, a vast selection of games, and a freedom of choice when it comes to payment options. Of course, the main reason why they’re so popular is their accessibility – no matter where you are, you can just log in to novibet.co.uk or whichever your favorite casino is and play your favourite games.
Up until recently, online casinos have only accepted recognized payment options such as credit/debit cards and e-wallets. It was only a matter of time before cryptocurrencies entered the online casino market, and after they were introduced not long ago, a host of cryptocurrency casinos flooded the market, with thousands of players following in tow.
Now, cryptocurrencies are changing the industry in unprecedented ways, enhancing the player’s experience and making online casinos even more popular.
Payment processing is one factor which doesn’t go in favour of online casinos. You’d think that depositing and withdrawing funds from an online casino would be a straightforward process, but unless we’re talking about instant-paying casinos, which are few and far between, you’d be surprised to learn that the payment process is quite slow.
Enter cryptocurrencies. By embracing Bitcoin, many online casinos were turned to instant-paying casinos as there’s no third-party involved in the payment. Most withdrawals are handled within minutes, which is surely much better than having to wait for days to get your winnings.
Privacy is one of the reasons why the popularity of online casinos has surged. There are many people who love going to the casino but don’t really want to be seen at the tables or share their financial details. Luckily, all of this is avoided with cryptocurrencies. With Bitcoin (or cryptocurrencies in general), there’s a certain level of anonymity which players welcome with open hands. After all, who wants to share their card details online? It’s like you’re asking for hackers to come and get your money. There’s no impenetrable online security for hackers – they have been known to steal financial data from major businesses.
They Reduce the House Edge
Due to the fact that cryptocurrencies such as Bitcoin use a public ledger known as blockchain for the transactions, cryptocurrency casinos have no overhead costs such as licensing and transactions fees they usually have when dealing with banks. Since blockchain is completely automatic, meaning it does all the work of a bank employee, it drastically reduces transaction fees, leaving consumers with maximum profits.
One for the Future
By adding cryptocurrencies to their payment methods list, online casinos are investing in the future. Of course, cash isn’t going anywhere anytime soon, but cryptocurrencies are a real look into the future. With this move, online casinos are announcing their intention to go with the flow and entering the brave new era of the digital era, and that’s something that brings a lot of recognition and respect.