Crytpo Currency Gambling is not necessarily a new thing but it is becoming more and more popular.
With 2021 looking a lot more interesting than 2020 and with the UK opening up it’s easy to see that cash is no longer king when it comes to betting, with most switching to online bookmakers and casinos while premises were closed, will they come back?
Crypto Currency gambling is becoming more and more popular with more new bookmakers and casinos online offering the ability for players to deposit their bitcoins and other cryptos into their account to gamble with.
There are ethical questions on this but with Bitcoin taking over the value of Gold, it can no longer be ignored, other coins such as Ethereum and ripples XRP look set to gain mass adoption in the near future too.
XRP with almost instant transactions across borders could possibly replace swift in some form in the next few years with more and more countries looking to create their own cryptocurrencies it could be a case of adapt or miss out on what could be the new internet revolution.
The rise of NFT’s has also caught the eye of the gambling industry with many companies figuring ways that they can cash in on the hype.
I personally think that you will be able to use crypto coins and currencies in bookmakers on and offline by the end of 2023, I think banks will adopt them and make it far easier for the average person to purchase crypto coins and use them just as easily as a debit or credit card.
Crypto will replace cash in the future, as more and more places become “cashless” the pandemic has only increased the likelihood of this happening sooner rather than later.
Anonymity Must Be Addressed
With the anonymous nature of currencies such as Bitcoin being a major turn-off for governments it won’t necessarily be Bitcoin that takes the lead role it could be some form of bridge currency that enables fast transactions with benefits such as instant deposits and more importantly instant withdrawals for players.
Other benefits are faster id verification, more secure transactions for players, and the possible use of NFT’s and crypto tech being used to improve the fairness of online games such as Blackjack or online slots.
Crypto Currency Gambling is the future, will companies that fail to take it on be left in the 2000’s? only time will tell.