Bitcoin and other cryptocurrencies have changed many different industries and the financial world in general. A similar thing is now happening with online gambling and other entertainment industries. Bitcoins are becoming widely used as a payment method in casinos.
There are numerous advantages to doing so for both the players and the casinos. There’s also an advantage in the very fact that this option is offered since it shows that the casinos are following the trends in the industry and are looking for ways to take care of their clients.
Traditionally casinos have kept some information from their customers. Most commonly this is done with potential winnings. The same can be said for other information that could reveal the edge that the casino has over the player. However, this is much more difficult to do, when it comes to bitcoin gambling establishments.
With bitcoin, there’s no way for the house to use dodgy tricks to hide the odds or to make their policy less transparent than it absolutely needs to be. When a casino uses bitcoin it’s a good sign that you can trust them and that it’s safe to use their service.
Safe and Secure Betting
One of the biggest concerns a player has when gambling online is how safe their money will be and what can they do in case there’s an issue with a payment. In order to make such payments in a traditional casino, a player needs to provide the casino with personal information and proof of identification.
When it comes to using bitcoins all that you have to do is to deposit the funds at a particular address and to start using it to gamble. This also eliminates the boring tasks related to providing your data and proving your identity.
Casinos Will Be Less Expensive
There are numerous expenses that traditional casinos need to pay for. These include expenses related to monetary transactions and deposits. There are also taxes and fees that are also an expense that a player has to take into account when calculating their winnings.
There are no such costs when you’re using bitcoin to use the services of a casino. These payments are also beyond the regulation of any government and therefore there are no fees and taxes to worry about. This means that using the services of a casino becomes overall less expensive when you pay with bitcoin.
A Convenient Payment Method
Players and casinos are always looking for a convenient way to make their payments and to complete the payments in the fastest way possible. Bitcoin is easy to access from all over the world. That can be accomplished quickly and without the need for any tech that’s beyond the reach of an average person.
The same goes for withdrawals, which are equally if not more important to do users. A user can withdraw their funds from anywhere in the world and within seconds without having to provide any personal information.
Promotions and Bonuses
Casinos that use Bitcoin offer a variety of lucrative bonuses and promotions to both new and active users. This is a way the promote the payment method and to attract new users and new casinos to join in. It’s often a much more lucrative deal than the ones provided by traditional casinos, using traditional payment methods.
The rewards are ranging from one to seven BTXC depending on the casino and the value of Bitcoin tends to change over time, but it’s safe to say that these amounts are substantially larger than those with traditional casinos.
The casinos that offer payments in Bitcoin offer more value to their players than those that don’t. That’s because Bitcoin itself is more valuable than traditional currency at this point. Bitcoin follows the laws of supply and demand just like any other part of the market. Now when there’s more demand for Bitcoin than before, since it’s become more of a mainstream payment method, its value will rise as well.
A player that withdraws their winnings in Bitcoin can wait until the market conditions are right and until they can get the most value out of them when they decide to sell.
More variety in Gaming
This is often overlooked as a benefit, but it’s an important one. The casinos that offer Bitcoin as a payment method offer a variety in terms of what kind of games you can play in their establishment. Sometimes that means that they are able to offer better payouts and sometimes it means it provides access to games that are otherwise unavailable due to local regulations.
More variety in games means more variety in players and their pay grades. Therefore, having those options available is good for both the casino and the players.
Being On the Cutting Edge
There’s an advantage that comes with using Bitcoins as a method of payment that can’t be measured, but that’s there and casinos are taking it seriously. It’s about being on the cutting edge and using the newest and most popular technology. That’s a way to show your players that you’re here to stray and that you’re willing to adapt to change.
Players are also pleased with such businesses since they show that they care about the end-user. Casinos that are willing to find new and more convenient ways for players to use their services will always have loyal customers to rally on.
There are numerous benefits for both casinos and players, in using Bitcoin as a payment method. Even though digital currency still feels like a novelty to some, it’s a big part of the finance world and many casinos across the world are rushing to implement its use.