It is evident there is a bright future ahead for bitcoin in the gambling industry. Particularly bitcoin-based provably fair gambling has become a lot more popular throughout 2017. Casinos and gambling platforms dealing with cryptocurrency offer many different benefits, that much is certain. Over 1 billion bitcoin-based bets were placed with bitcoin through March of 2017, which is a spectacular number.
There are plenty of reasons as to why people switch to bitcoin casinos. First of all, the vast majority of platforms focus on being provably fair. In doing so, these companies ensure players can manually verify the outcome of every game. Ensuring the casino doesn’t have an unfair house edge is of the utmost importance. Traditional casinos cannot provide such unprecedented transparency.
Additionally, bitcoin offers a lot of advantages compared to traditional payments. First of all, bitcoin provides more privacy, as no personal information is exchanged. Additionally, it is also a transparent payment solution, as anyone can verify the payments in real-time. From a safety point of view, one can rest assured there are no chargebacks or refunds, which matter a lot to casino operators.
Finding the top bitcoin casinos is not an easy feat, although eery platform has something to offer. Most platforms have a wide variety of games and provide some great bonuses to boot. Thankfully, there are some good platforms keeping track of the top bitcoin casinos on behalf of cryptocurrency enthusiasts, like TheBitcoinStrip. Especially the year 2017 has been quite positive for bitcoin casinos in general, with thousands of players making the switch.
Although traditional casinos still have a lot of appeal, trusting them is virtually impossible. Scam accusations can be found all over the internet, and their restricted withdrawal options are not helping matters much either. All of this translates to exponentially increasing amounts of money being bet across bitcoin gambling platforms. Close to US$360,000 worth of bitcoin profit was generated for bitcoin casinos in March, which is quite impressive.
What is even more interesting is how over US$150m worth of bitcoin passed through all of these casinos. If this trend continues, it is very well possible the year 2017 will see US$2bn or more in bets on bitcoin platforms. The first quarter and first week of April combined have netted some interesting results so far. Over US$520m worth of BTC changed hands across 3 billion bets. This translates to 360 bets per second throughout the year, which is a staggering number. Things are definitely improving for bitcoin casinos, that much is certain.
Header image courtesy of Shutterstock
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.