Current and Future Trends in Crypto Gambling
Cryptocurrency has gone from being something that was largely misunderstood and seen as a ‘risky endeavor’ to becoming one of the most widely accepted innovations in recent financial history.
In recent years, we’ve seen the large-scale adoption of cryptocurrencies into a variety of different markets and sectors. Online gambling is one of the few sectors that has readily accepted cryptocurrency right from its advent and has done a lot to help advance innovation with regard to its use as a payment method. On average, it’s thought that roughly 36% of bets placed in online casinos are done via cryptocurrency. That’s over a third of all bets made in a year, and crypto has only been around for just over a decade.
So, let’s take a look at some of the trends happening in the market at the moment and see what’s predicted for the future of crypto gambling.
Current Trends for Crypto Gambling
Crypto gambling has seen the development of some major trends in the last few years that have really gone on to shape the industry as a whole.
No one understands the need for privacy more than online casinos. That’s why so many were willing to adopt cryptocurrency as a payment method for their platforms in the past and to this day, many more are starting to adopt cryptocurrency for this reason.
Cryptocurrency offers total privacy in terms of your transaction history, which means you can gamble to your heart’s content without the paper trail.
Variety of Games
These platforms offer a massive collection of bitcoin casino games for players to enjoy. No matter whether you prefer classic table games, immersive slots, or are looking for something unique and only available at crypto casinos, there’s always a game for you. Some popular offerings include:
- Crypto Slots
- Bitcoin Dice Games
- Crash Games
You’ll often find that the best sites have thousands of variations of these games, so you can try something new every time you log on.
Online casinos have done a lot to prove the trustworthiness of cryptocurrency for users in general. Being one of the first industries that allowed you to actually trade with cryptocurrency, it did a lot to help assure people that their money was safe in the form of cryptocurrency and could actually be used to buy things online – just like normal currencies. It did a lot to help debunk a lot of the myths surrounding cryptocurrency.
Crypto-centric Responsible Gambling Tools
Crypto-based casinos have done a lot in recent years to help set up more responsible gambling tools on their platforms. This means creating things like deposit limits, betting caps (limited betting amounts), and even self-exclusion periods for players who need them. This is a big leap forward, as it shows that casinos are being held to high standards and that they are actually thinking about the player’s well-being.
Future Trends for Crypto Gambling
Now that we’ve seen some of the current trends for crypto gambling, let’s take a look at what the future holds for this novel and innovative field. Will you be able to do more than simply spend cryptocurrency in the casino thanks to blockchain technology?
Virtual Reality (VR) Crypto Casinos
Virtual reality has been changing the way we experience the digital world quite dramatically. We’re seeing it getting adopted into more and more sectors and online crypto casinos are jumping on the ship as well. VR-enabled crypto casinos will allow for a fully immersive experience that will get you as close to being in an actual casino, without the hassle of long queues, costly drinks, and high betting prices. It’s definitely worth getting excited about.
Adoption of Artificial Intelligence
AI has quickly become the biggest technological development of our lifetime and online casinos are adopting it really quickly. You can expect to see more AI tools being incorporated into crypto casinos as soon as next year.
The tools are aimed at helping to improve user experience by providing accurate betting advice, customer service assistance, and also ensuring that the games are balanced fairly for players. They’ll also be overseeing many of the financial aspects of the casino, ensuring that no one gets scammed out of their money.
Non-Fungible Tokens garnered a lot of traction as highly profitable investments not too long ago. However, the market recently experienced a serious crash, making many of them practically worthless.
So, if you do have a few NFTs lying around that you want to get rid of, you’ll be glad to know that a lot of crypto-based casinos will be accepting them in return for trading tokens in the not-too-distant future. A lot of online casinos will also start offering them as unique prizes and loyalty bonuses for dedicated players, which can be traded for cash, or even seen as an investment opportunity.
Increased Security Measures
While most players have enjoyed the privacy aspect that cryptocurrency has to offer, a lot of people have also been wary about using it as a payment method for precisely this reason. Due to this, most crypto-casinos will start implementing stricter security protocols when it comes to using cryptocurrency in their businesses. This is done mainly to guarantee users more protection when using the already highly private currency rather than exposing their transaction details. So rest assured, your privacy is still important – but not as important as your safety!