iGaming has been at the forefront when it comes to embracing new technology. This has made the industry resilient, and this has worked great for both the players and the investors. This possibly explains why this is the fastest growing industry in the market. If current trends are anything to go by, it is clear that this industry is going to get even bigger with time, what with the high-speed internet that allows gamers to play in real time.
This way, gamers do not need to go to land based casinos to enjoy their favorite games. They can relish all this from the comfort of their own homes. This is in addition to the fact that most of the iGaming sites are also mobile friendly. To kick things a notch higher, the iGaming industry has embraced the use of Cryptocurrencies and this not only attracts the young and tech savvy players but also makes it easy for gamers to transact on the gaming platforms.
The Bitcoin Boom
The Bitcoin boom happened in 2017 and throughout the year until 2018, the use of blockchain and Cryptocurrency rapidly expanded in the iGaming industry. The industry was quick to take advantage of this payment option and grow with it. Today, cryptocurrencies are no longer a niche payment option; many people have embraced them and they are now ranked among the most convenient methods to deposit and withdraw money for online gamers.
Cryptocurrencies stand out for many reasons. For one, they take care of the privacy concerns that online gamers have. Most online casinos accept payments using crypto without bothering about the players’ personal information. Gamers who want to enjoy playing anonymously can easily do so as no personal information is exposed when cryptocurrencies are used.
As newly branded players join the igaming industry, it is obvious that they are going to consider cryptocurrencies because of the privacy it guarantees online gamers. It helps that the popularity of these currencies continue to rise which makes them widely acceptable. Cryptocurrencies also come with lower transaction fees in addition to the fact that no paperwork is involved in all transaction stages.
Evolution of Blockchain in iGaming
The Blockchain technology is quite transparent in all business aspects. This makes the technology quite attractive in the iGaming industry where transparency is valued. Major players like comeon and its competitors are likely investing how blockchain can be implemented. Both the players and the investors in this industry need a platform that is not just reliable but transparent. This way, both gamers and investors are guaranteed of getting their money’s worth.
Blockchain gambling is now a thing and the current market for is nothing short or enormous. This technology presents an opportunity for new brands to join the market thanks to its transparency. With this technology, it will be easier for players to trust a new entrant in the gambling world. New online casinos that are set to be released should take advantage of the blockchain technology as things can only get more exciting in the few years to come.
There is no doubt that the use of Crypto and Blockchain is growing and will continue to rise in the near future. The blockchain technology offers exactly what the iGaming industry is looking for as far as transparency and privacy is concerned. It helps that the blockchain technology is ever evolving just like the iGaming industry.