Bitcoin gambling has changed the face of online betting in a big way. It introduces new ways of playing games like online poker or bingo while giving very few reasons for people to resist the shift towards bitcoins in betting transactions. Many say this bitcoin trend will probably collapse under its own success or that it is just a result of online hype. But looking at its current development and seeing how far it has come, it seems this temporary craze will only get bigger in the coming years. Here are some insights why it will stay around for a longer time and why you should reconsider your opinion about it in relation to your own gambling inclinations.
The online world is ripe for bitcoin gambling
One bitcoin betting site in particular is receiving close to 500 requests to open up a bitcoin casino site in the past few months. This reflects the eagerness of people who have transitioned to bitcoins to gamble. This would mean that as soon as more sites start accepting bitcoin payments for its games the influence and the universal appeal of bitcoins will also increase. Today, bitcoins are used in popular betting sites and also in small transactions. This shows the viability of this new crypto currency and how it can enhance online gambling experiences in the future.
Bitcoin gambling is circumventing regulation
For a long time now online casinos are letting players around the world pay with real money and this makes the players legally limited to go full throttle on their online gambling. The world’s biggest and pioneering betting site SatoshiDice does not even operate in the US because it is illegal for it to do so. Online gambling regulations in the US was also strengthened by the passing of the Unlawful Internet Gaming Enforcement Act (UIGEA) way back in 2006. But bitcoin gambling has very unique attributes that makes it unnecessary for people to do banking activities for their online gambling. People can just place a bet using bitcoins and get paid with the electronic currency when they win. This legal loophole allows many online betting enthusiasts to acknowledge the usefulness and potential of bitcoins in giving them more freedom to play online.
Bitcoins breed gambling innovation
As bitcoins were introduced as a currency for online gambling, innovation also came out naturally to improve the gaming experience of those who are embracing the crypto currency. Since its inception it has revolutionized games such as the “dice” pioneered by SatoshiDice. It also introduced shuffling systems that are trustless, and also motivated the development of HTML 5 to beat Java or Flash plugins commonly found in aging betting games. Mobile gaming is also aggressively pursued now as fast and easy sign up and withdrawals using bitcoins are now possible.
All of these things will pave the way for a brighter future in bitcoin gambling. The acceptance of this electronic currency will not be a matter of “if” but “when” and will surely mean better gambling experience for all which is why it is here to stay.
