Will the Gambling Industry be Crypto’s Biggest Growth Market for 2021?

Gambling. One of the oldest form of entertainment worldwide since modern history was recorded. We gamble virtually everyday. From the time you leave house, the decision to pace a little faster in hopes of catching the next train without the need to wait long – is gambling.

Stake – your energy
Reward – catching the train, not needing to wait longer

In today’s short article, we look at why the gambling industry may be Cryptocurrency largest growth market in 2021.

Benefits for Players and Operators

Gambling is in the blood of many people and they love convenience. By using cryptocurrency as an alternate form of currency, it brings speed and security. Deposits and withdrawals would be seamless, faster, secured and anonymous. The player has full control over their funds without the fear of being exposed.

Blockchain technology provides players the opportunity to enjoy decentralized blockchain technology for a fairer experience. Furthermore, you are not limited to bank accounts or if your country bans it. Bettors are able to find a way round it via VPNs and crypto.

Note: Hegion.com does NOT support gambling illegally. All forms of gambles should be done in a socially responsible manner.

As for operators, they get to enjoy the benefits too. By accepting blockchain and cryptocurrencies, they are their own “bank”. This means that operators can save on middle-men fees, lower risk of exposure and fraudulent transactions. Savings can be used to entice new players and retain existing customers with innovative and unique ideas – something which is slightly harder with traditional cash.

Currently, you can see a rise in operators accepting cryptocurrency as a main form of payment and transaction.

Better than Bitcoin and traditional method

One of the coins that operators and players can use is the Casino Betting Coin (CBC). It is currently adopted by Novomatic, one of the world’s largest online casino operator – with an estimate revenue of more than €2.6 billion.

As speed is key in the betting world, Casino Betting Coin is a better match than Bitcoin. Transaction speed and anonymity are important and these can be achieved by adopting a purposed built coin like CBC.

Purposed built coins like CBC also means a more seamless integration with other services that value add to the overall experience. For example, it allows operators to support turnkey gaming activities within the gaming ecosystem –

  • staking
  • allowing players to become the “house”
  • loyalty programs where players who adopt CBC are able to receive rewards
  • interest as a “reward”
  • offering “security” and “anonymity” to appease players psychological factors

These are just some of the perks. As technology progresses and adoption rate increases, operators are able to lure, attract and retain customers on a level unimaginable with traditional methods.

Crypto gambling – a multi-billion dollar industry

Many people are already gambling on altcoins. Crypto built coins for gambling is picking up and more users are starting to see the benefits of adopting it. It will continue to grow as the world starts to warm-up to the notion of cryptocurrency.

Online Gambling itself is a multi-billion dollar industry. With the Covid-19 situation not abating, rise in online gaming is surely on the rise. The appetite for seamless, faster, safer, cheaper and anonymous transaction will continue to grow from both operators and users alike.

Cryptocurrency option is well poised to be in the thick of the action.

Source: Newsbtc

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