Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry.
Since then, several similar casinos have been established offering various bonuses and advantageous opportunities to players. Some of which can be seen at Heart Bingo Casino Review: play with Deposit £10, get £50. Now Bitcoin casinos have become extremely popular to the extent that most bad games are getting rushed out to build on it. Those with less interest in innovation are creating “Dragon’s Tale” knockoffs or other worse games. There is still room for improvements, but the state may get worse before it becomes better.
Main reasons why Bitcoin is very successful
1. Anonymity
Anonymity is the major reason why many prefer Bitcoin. Maintaining it in the e-Wallet is completely anonymous. For instance, depositing and withdrawing through Bitcoin eWallet is anonymous on its own, but in a really great Bitcoin casino, the process of signing up also is completely anonymous. Sites with features like these are the ones that attract many players.
2. Personal information not necessary
This still falls under anonymity. When registering or making payment, you are not required to give your personal information. This benefits those who are located in areas where governments restrict engaging in gambling or taking part in games from a different country.
3. No fees during depositing or withdrawing
This is another great reason why people prefer Bitcoin. Players and casinos do not get charged when depositing or withdrawing. Other methods of payment, for instance, wire transfer and
credit cards would cost some fee for processing to take place. But with Bitcoin, with your eWallet, the casinos provide you with an address where you deposit and the process is very simple. If you want to cash out, you simply enter your eWallet address and you will immediately receive your money without paying.
4. It gets placed into one’s account so fast
This is also another good reason why Bitcoin is preferred. Depositing is instant and withdrawals are instantaneous in many cases. It takes just some few hours in some casinos.
5. The currency value does not increase
Bitcoin currency does not increase its value when in your account. However, when the stock is high, you will benefit hugely from making a deposit when BTC is high and enjoying the rewards of promotions.
6. Infinite
Bitcoin is infinite in volume. You will only find some amount out there compared to hard currency. When using Bitcoin, it is more like making a gold investment rather than a hard currency investment. And you will enjoy being anonymous and it is very possible for Bitcoin stock to take off thus adding to your own Bitcoin.
Those are some of the main reasons why the Bitcoin gambling industry is doing so well. Its use of blockchain also has made the whole role of gaming regulators become outdated.