Are Crypto Based Casino Games the Future of iGaming?

Are Crypto Based Casino Games the Future of iGaming?

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In recent years, not only have we seen established online casino brands adopt cryptocurrency as a payment method, but we have witnessed the introduction of crypto based casinos. A crypto based casino is different to a regular online casino accepting cryptocurrency as a payment method because crypto casinos are built purely with the blockchain in mind. Users of crypto based casinos can both deposit and withdraw using cryptocurrency but are crypto based casino games the future of iGaming?

The Emergence of Crypto Casinos

In the past three years, we have seen the emergence of many crypto casinos. The telling factor when searching for a crypto casino is often the name of the casino and they tend to have the word ‘bit’ in their name. However, there are now plenty of online casinos that provide the opportunity to play crypto games that have different website domain extensions, with .io being a good example. Crypto casinos use the word ‘bit’ or an alternative domain extension to differentiate themselves from regular online casinos. The fact we continue to see new crypto casinos introduced shows how crypto based casino games could be the future of iGaming.

Why are Crypto Based Casino Games Growing in Popularity?

The fact it is possible to play bitcoin slots and other casino games without incurring any transaction fees is a huge bonus. If you are a regular online gambler and are subject to transaction fees each time you make a deposit, it soon adds up and can become expensive in the long term. When using cryptocurrency to play online casino games, you do not have to worry about transaction fees and how much it is costing each time you make a deposit. Due to the nature of crypto, there is often no need to register at a crypto based casino to play games. You do not have to give your address, telephone number, or other personal information when playing online casino games using crypto.

The use of crypto when playing casino games is anonymous, so there is no way to trace the fact you have been gambling online. You should never feel the need to hide your gambling from family or friends, but it can be useful when you apply for a loan, such as a mortgage. Payouts are always instant when playing crypto based casino games and you do not have to wait for the funds to appear in your account. So, based on these benefits, it is easy to see why crypto based casino games could be the future of iGaming.

Cross Over Between Gaming and Crypto

There is a cross over between the number of people playing games, both videogames and iGaming, and the ownership of crypto. Statistics show those involved in the gaming industry are more likely to own crypto than anyone else. That alone should be enough to convince online casino operators they need to add crypto based games. If we take millennials as an example, in 2020 5% of all millennials owned crypto whereas 55% of millennial gamers owned crypto. Based on this information alone, crypto based casino games are going to have a big future in the iGaming industry.