In 2022, the worldwide betting market recorded a valuation of $63 billion. Expectations are now that this sector will grow at an annual rate of 11.7% up to 2030 when no one can predict what will precisely happen. Although, many assume that at this point, the death of the land-based industry will begin. One of the reasons that will occur is the growing popularity of cryptocurrencies, which will become mainstream by then as these sites are currently taking over this sphere.
According to a recent survey from deVere Group, 82% of millionaires seek advice on crypto investing, despite 2022 showing everyone how volatile these forms of virtual money can be. Bitcoin casinos are also gaining massive steam, with crypto gambling boasting a lifespan that stretches beyond a decade, a number that is probably surprising for most people. BTC casino sites get credited as a chief driving factor in the internet gaming landscape. And what follows is a comprehensive overview of the aspects the best cryptocurrency casino platforms share and what interested parties should look for when scouring the Web for the best Bitcoin casino hubs.
Check the License/Reputation/Security
Despite common beliefs, crypto casino hubs do get regulated. At least, most of them do. They have regulatory approval from international bodies like the Malta Gaming Authority, Curacaos’s four master license holders, and Panama’s Gaming Control Board. Many also operate from Costa Rica as registered businesses. However, they have no regulatory oversight. The UKGC, Europe’s strictest licensing and overseeing internet gaming organization, sees cryptos as a fiat equivalent, but few Bitcoin casinos operate from the UK due to various crypto regulations. That is usually standard for most European countries, plus the US and Canada, as all these territories have yet to develop digital-coin laws.
So, internationally-regulated sites dominate this sector at the moment. That is not a horrible state of affairs, as their regulators boast similar guidelines to the Swedish Gambling Authority and the UKGC. They mandate that their licenses implement high-end SSL encryption and firewalls and that they adhere to modern data protection laws. Even unregulated Bitcoin gambling websites follow these sets of criteria. But still, before anyone signs up with a Bitcoin casino site, it is wise to check its terms and conditions page to see what security measures it incorporates. Premium encryption and clearly outlined privacy rules are mandatory.
Look for Payment Diversity
Most quality Bitcoin casinos allow users to fund their gaming journeys with fiat money while still primarily accepting crypto deposits. Some let gamblers buy virtual cash using their credit/debit cards and electronic payment solutions, while others outright accept fiat payment methods. The latter are hybrid Bitcoin casinos. And they process e-wallet payments almost instantly, while credit/debit card transfers take up to three days. Wire transactions also customarily get featured on these platforms and go through in around five banking days.
For comparison, Ripple transactions take around a second to process, and Bitcoin ones most often get finalized between thirty and sixty minutes. That said, it is always better if a BTC casino boasts a cashier tab that accepts both fiat and crypto funds.
The More Promos, the Better
As everyone likely knows, deposit matches are the primary promotions that have led to this industry’s attaining a massive player pool. Now, the best Bitcoin casino sites are looking to take the internet’s gaming promo offer up a notch by creating novel bonus and loyalty rewards that this sector did not have just a couple of years ago.
Nowadays, it is common for Bitcoin casinos to have intricate VIP schemes that list level-up bonuses, cashback, mystery chests, physical gifts, and more as prizes for experience point accumulation. Additionally, on these platforms, users can also get rewarded for community activity. That transpires via chat rain, tickets for lottery draws various giveaways. Plus, they have an option at some sites to invest in these brands by locking a portion of their funds and receiving faucet coins for doing nothing except clicking a claim button.
At Least a Few Hundred Games
Since the inception of the online gambling industry, game selection has always ranked as one of the top three most crucial platform selection criteria. In most gamblers’ eyes, gaming variety makes the difference between a super enjoyable Bitcoin casino and a mediocre one. Thankfully, most of the hubs running today licensed by Curacao bodies have libraries consisting of thousands of titles. Long gone are the days of only provably fair options being available for crypto fanatics.
That said, aside from a wide range of games such as slots, live dealer tables, RNG ones, video poker, keno, bingo, and shooters, it is essential that an operator lists their specs and works with a certified testing board that ensures the fairness of the products offered.
Responsible Gaming Features & Top-End Support
What is responsible gaming? In short, this is a set of measures aimed at forbidding gamblers with low impulse control from betting money they cannot afford to lose. Many Bitcoin casinos stop this from happening by letting players set session/loss/deposit limits and self-exclude. That is usually possible through users’ profile pages. If it is, that signifies that the chosen Bitcoin gambling hub cares about its clients.
Another way that it shows respect for customers is by supplying them with a 24/7 live chat window, swift email support, and a detailed FAQ page.
Routes to Gambling Anonymity
Is secretive online gambling possible in 2023? Yes, it is. That can occur at Bitcoin casinos with low Know Your Customer requirements. These Bitcoin casino sites only activate identity verification processes after a user request to remove a substantial sum from their account. It is also a thing an unregulated provably fair website. Concerning the latter category of hubs, the only ones to get seriously looked at have been active for several years and have impeccable reputations. These platforms do exist. Although, their chief downside is that they only house one or two games.
The Bottom Line
Bitcoin casinos are here to stay. Not only do they deliver benefits that traditional online casinos cannot match, but they are continuously evolving rapidly, inventing novel ways for users to profit without playing games of chance. Anyone looking to use these sites should do so responsibly and do detailed research on any operator whose hub they plan to join.
OTS News on Social Media