An Intro To Crypto Gambling

Cryptocurrencies are trending, with coin developers aiming for widespread adoption and mainstream recognition.

The focus has moved from initial coin development, blockchain creation, digital wallets and exchanges, to how cryptocurrencies can be spent. Consumers are interested in what their crypto tokens can actually get them, crypto services have begun to spring up in response.

One such service, is the use of cryptocurrencies for online gambling. Site visitors have access to a large number of online platforms, that now accept crypto tokens. Affiliate websites offer an updated list, of these platforms, helping users find the most relevant sites.

Crypto casinos allow gamers to bet on sports, e-sports and regular casino games such as slots, poker and blackjack. The difference being, that all bets are placed, won and lost using crypto tokens.

Read on, to learn more about crypto casinos and how they can benefit game play. 

Most Notable Benefits Of Crypto Casinos 

Bonuses 

Bonuses play a big role in online casinos. They are designed to attract new playes and reward existing ones. Casinos use them to differentiate themselves from the growing competition. Due to the relatively new use of cryptocurrencies in online gambling, casino operators have become particularly generous.

Some of the most common bonuses are welcome or sign-up bonuses. These reward new players for joining a platform.

Once signed up, many crypto sites will offer users deposit bonuses. These are typically shown as a percentage. A casino will match your deposit, up to a set limit. This can improve your odds and lengthen play time.

Users need to keep an eye out for more complex bonuses. Some bonuses are multi-tiered, combining a variety of individual bonuses into a package. They might include regular deposit bonuses, where operators do more than just match an initial deposit, but match everytime a new deposit is made.

Pro Tip: Crypto volatility, which is the fluctuation of crypto value, can be a real asset when it comes to crypto casinos. Seasoned crypto investors who believe that certain cryptocurrencies are likely to spike in value, in the short term, can improve their odds. Winning a bet using such cryptocurrencies, allows bettors to claim the betting win and any future crypto price increases.

Anonymity

For those looking for online anonymity, crypto casinos are a viable option. Cryptocurrencies are designed to be traded with less control and oversight, eliminating the need for a third party to oversee the transaction. This is beneficial to gamblers looking to escape the scrutiny of certain legislation. 

Regulators, governments and gambling councils all over the world, handle gambling and online gambling very differently. South Korean gamblers for example are prohibited from gambling at all land-based casinos except one, in Kangwon. And are generally not allowed access to online casinos, or to gamble when overseas.

New Zealand gamers have less restriction. They are allowed free access to online gambling platforms, as long as the platforms are not located or registered within the country.

Some crypto casinos require no Know Your Customer (KYC) information to register, further aiding anonymity.

Variety Of Play Options

Crypto casinos are relatively new, which means that website designs and layouts are fresh and current, and so is the offering on them.

Crypto casinos take full advantage of all new betting titles and games. Allowing users access to traditional casino games, crypto-based games, sports betting, e-sports and fan favorites such as poker.

Poker in particular has taken off on crypto casinos, fueled by large-scale tournaments, live games and growing player pools.

Lower Fees And Quicker Transaction Times

Fees are typically lower on crypto transactions than credit card payments. Credit card companies do not charge the client directly, but rather take a percentage of each transaction fee from the vendor. Fees can be as high as 5% of the transaction total, vendors will either absorb this cost or try to recoup it by charging players a transaction fee. Competition among crypto exchanges and digital wallets has brought the fees down to low single digit percentages and even decimal percentages. 

Although credit card payments are very quick, certain bank deposits can take time. This is especially true when bank deposits need to be sent from bank to bank, during international transfers. Cryptocurrencies had slow transfer and trade rates in the past, but exchanges have sped the process up significantly.

Altcoins And Presales

Crypto casinos visitors can benefit from Alternative coin (Altcoin) marketing campaigns and presales. Alternative coins are seen as any coin outside of Bitcoin. 

Companies such as Solana, developers of the Solana crypto phone, issued 30 million BONK coins with the purchase of its first generation phone in 2023, to boost sales.

Newer, unknown, coin developers can issue large discounts on coins before they reach the open market, known as presales. 

Currencies Accepted

The types of crypto currencies accepted, will depend on the platform used.

Most casinos accept the two major currencies of Bitcoin (BTC) and Ethereum (ETH). With some, such as CoinPoker even developing its own (CHP). Other cryptocurrencies which can be used are Tether (USD), Binance Coin (BNB) and Polygon (MATIC).

Less commonly used coins can always be traded on exchanges for accepted coins, and then used on your crypto casino account.

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