Blockchain Sports Betting Blockchain technology is being lauded for helping bettors, and bookmakers get more benefits than they would play in conventional gambling platforms. Crypto sports betting offers different solutions…
How Ethereum Is Changing Online Casino Games
Online Digital currencies that are commonly referred to as cryptocurrencies have revolutionized online casinos and sports betting. Coins such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are at the forefront of having gambling platforms that incorporate new gaming technology lower their transaction fees, have faster payments, and also encourage anonymous gambling. Now, more than ever, its become clear that Ethereum casino games combination is seamless. Below, we focus on the various ways cryptocurrencies have disrupted the gaming industry.
Ethereum Makes Simpler, Faster and More Secure Payments
For this, to work, we have to make examples using hypotheticals. For starters, let’s assume that you wish to deposit in a conventional online casino platform. Perhaps you decide to use your credit/debit card to process the deposit. You begin by choosing and setting the amount you desire to deposit. The next step is to insert your credit card numbers (the whole line at the front).
Proceed to share the card’s expiry date. Flip the card over, and on its back, you will find three digits (CVV) that you should also insert where prompted. Hope by now you can tell there’s a massive problem with doing the above. For starters, you are sharing a lot of personal information with a gaming platform. Regardless of whether you trust the bookie fully, you have to be alert whenever you are sharing your knowledge.
Enter Cryptocurrencies: when you decide to go the cryptocurrency route to make deposits, you enter an entire playing field. As opposed to sharing your sensitive information with the gaming website, all you are required to do here is share your crypto wallet address. In it, you will have the amounts you wish to deposit (in whichever currency you desire), and within seconds the amounts will be deposited into your bookie’s address. Now you can start placing your wagers a minute after making a deposit!
Straight-forward betting: people who switch to using cryptocurrencies are happy that their transactions are direct since Ethereum casino games platforms have taken out the middleman. Case in point, once you make a payment online through credit/debit cards, the card companies (MasterCard or VISA) take up the role of intermediaries processing transactions.
Apart from blocking payments when instructed by government agents, they also keep a significant chunk of that transaction for themselves. A majority of internet-based gambling websites part with 1- 4 % for every card transaction. Unfortunately, these charges are passed down to the gambler. The costs are applied either directly where the punter pays the fee or it reflects in the form of smaller bonus amounts paid back after a deduction.
Ethereum Gambling Platforms
Competition is healthy, and it promotes innovation. As it is with other industries, the more the number of firms dealing with certain products or services, the better the products/services, as well as the pricing. The same thing remains valid for the gaming sector, and since there is a rise in the betting and casino platforms online today. Players profit from higher welcome bonuses, better odds, as well as great gambling experiences.
More and more decentralized sports betting sites are being launched now and then. A lot of these sites are only accepting cryptocurrencies, thus making them ideal for many players across the planet.
Nowadays, there are a lot of casino websites that accept cryptocurrency payments, and they keep on increasing. To remain relevant, they are accepting other cryptos as well. Punters can now gamble with currencies such as; BitCash, DodgeCoin, Bitcoin, Dash, Ethereum, LiteCoin, Zcash, and Monero.
Anonymous Ethereum Casinos
Thanks to their creation, cryptocurrencies are today deemed safer for transactions when compared to fiat currencies. Fortunately, for punters across Europe, using cryptocurrencies is not a big deal. Unfortunately, when we focus on Asia, we can see countries such as China, Thailand, and the Philippines have passed draconian laws governing the gambling industry. These countries give hefty fines and also jail punters that continue betting online.
Here is where cryptocurrency use comes into play. Players that use coins such as BTC or Ethereum to gamble completely anonymously. Nobody, not even the shift government agencies can trace payments made in and out of your gambling accounts. However, users should follow the necessary security measures to make their gaming completely anonymous! Another massive advantage of utilizing cryptocurrencies on casino games platforms is that these transactions never show up in the punters’ bank statements. They’re heavily discouraged from using credit/debit card payments so that their transactions don’t pop up in their bank statements.
Those who decide to use their banking info may gamble without issues; however, when they choose to get a loan or apply for a mortgage, their transaction history becomes a problem. Online gambling transactions are not regarded highly by potential lenders, and, sadly, a lot of punters have their credit or mortgage request declines because they gambled in the past, and their transactions showed up in their banking statements.
When you switch to cryptocurrencies like Ethereum, you won’t have to worry about the above. Your privacy and security get enhanced, making this a perfect way of safeguarding your credit score and baking reputation.
In the last five years, the number of Ethereum casino games platforms accepting cryptocurrencies have gone up. Today, you will find well over 60 gambling platforms that either offer cryptocurrency gambling alongside conventional currencies or have embraced crypto use wholly. Some of the perks of using cryptos are faster, secure, and problem-free betting experiences. Moreover, Bitcoin and also other cryptocurrencies are today easier to acquire than it was in the past.
Punters can purchase Ethereum from one of the thousands of online trading platforms that deal with selling and buying cryptocurrencies. The world is your oyster; you only need to research and find a platform that gives you the best, anonymous, safe, and secure casino gaming!