Generally speaking, land-based, online and cryptocurrency casinos all work in the same fashion. If we are just talking about gameplay, they are identical. If you’re playing slot machines, roulette or blackjack, the rules don’t change. However, with a crypto casino, the currency you use as a stake is the key difference. Ultimately, that is the only difference.
A cryptocurrency casino offers gamblers the opportunity to use other types of currency. If you are invested in cryptocurrency, you may find yourself holding a lot of a specific cryptocurrency. Still, you don’t want to sell it back into your chosen currency to place a bet.
The emergence of this type of casino has caused a stir in both the cryptocurrency world and the world of gambling. The gambling industry is one of the most heavily regulated sectors in the world. Many countries do not allow gambling at all on their shores.
Las Vegas
In the USA, different states have varying laws. When it comes to Las Vegas, the city has some of the loosest gambling laws in the world. This is why the Nevada desert has become the epicenter for gamblers across the globe.
High rollers come in from all over the planet to get a taste of what Vegas has to offer. Although this has always been a highly profitable venture for Nevada state, they have recently looked to branch out their industry and become a tech hub.
We can’t see them taking the crown from California any time soon. Still, it shows that maybe the Vegas economy is looking to diversify, given how the gambling industry has been evolving in recent years. This includes the rise of digital casinos, be they online or mobile-based.
In addition, cryptocurrency casinos are potentially playing a role in causing Vegas to try and diversify its economy. There isn’t anything to suggest that Vegas casinos are struggling at the minute, as huge investors on Wall Street are still investing heavily in their stocks.
This has been down to laws becoming looser on sports betting. Many states across America have legalized sports betting, which some analysts were predicting could into some of Vegas’s gigantic profits.
That being said, Vegas usually comes with its own package. People don’t go there just to play blackjack or roulette. It usually comes with a host of other activities. For instance, some of the biggest shows in America take place in Vegas.
Elvis Presley infamously had a multi-year run at a Vegas casino. There have been over a decade of Beatles-themed shows in a 5-star hotel in the Nevada desert. So whilst cryptocurrency casinos offer something new and exciting for online players, it doesn’t capture the glitz and glamour of Las Vegas.
Cryptocurrency Gambling
Cryptocurrency gambling is an intriguing market that has emerged. Over the last decade, some investors have made incredible money from buying and selling cryptocurrencies. The reason being is the other avenues they offer.
Cryptocurrency casinos have heightened security. As players are transferring their money into digital currency, casinos are not at risk of losing any of their actual currency. The fact that casinos can minimize risk further is something they will be interested in learning more about and potentially taking advantage of in the future.
However, the main issue with cryptocurrency casinos is that they are more rigid in the way they can accept your funds. For instance, a standard casino will usually accept a host of different world currencies, various credit cards, and PayPal.
When gambling with your cryptocurrency, you have to connect your wallet, which is usually limited to a handful of providers. However, you will not be subject to the same withdrawal restrictions as some bank accounts.
Cryptocurrency wallets contain a high level of security and can be accessed from multiple places across the globe. For this reason, some online players prefer to use this method over standard cash.
It will be intriguing to discover how popular this industry will become within the next decade. Whether it begins to eclipse the standard casino industry is unlikely.
However, if you told somebody in 2013 that their Bitcoin that was $100 would be worth 65 times that amount in 8 years, they would have probably doubted that as well. If there’s one thing you guarantee in the world of cryptocurrency, it is that it is full of surprises.
Cryptocurrency is an interesting market, and it is a largely unregulated asset class. It creates a lot of opportunity but also comes with a serious risk you should be aware of.
Even if you are looking to gamble with cryptocurrency, the harsh volatility could render your currency 30 or 40% less in value over the course of just a few days. This could be crucial in your decision to gamble with cryptocurrency or your own money.
