When Bitcoin gained popularity and boomed in 2017, people could not believe what was going on. Most thought the bubble would burst within a year an it would fizzle out. The concept didn’t resonate with some, with this cryptocurrency confusing to them. Three years later and the doubters are being proven wrong with a share price at the time of writing this article of $10,249. The point I am making is that Bitcoin is not going anywhere and the gambling industry has and is adapting to its usage in a powerful way. The best bitcoin casino and poker sites are easily found now and proudly display their cryptocurrency badges on their site. This article will briefly look at a few reasons why Bitcoin gambling is popular and what the future holds for it.
Bitcoin is Fast
There are many online casinos and poker sites offering Bitcoin as a payment method. It provides users with a fast way to get funds in their online accounts. Where it used to take days to get money out of a site, it is now much less. Some online casinos are able to process withdrawals very quickly, often less than an hour. This service is perfect for the impulsive and impatient gambler wanting to play online.
Gamblers Don’t Want Attention
Gamblers also like the idea of being anonymous. Bitcoin is perfect for these people. It provides a cloak that if removed will only reveal a bunch of numbers. No name, no address and no email tied. This appeals to many people, particularly those who like to keep their gambling affairs private. People have their own reasons for wanting anonymity, it’s not for me to judge, but suffice to say it’s a widely accepted benefit to bitcoin gambling.
Bitcoin is Secure
Despite the scepticism many hold about Bitcoin and cryptocurrencies in general, they are actually very secure. What can a hacker do if they access your information? They can’t take money from you. The only possible thread is if you lose your wallet – the same threat as in real life if you drop it in the street. In short, you are very safe to use the reputable cryptocurrencies.
2021 and Beyond
The modern world is adapting and evolving to digital. This is evident everywhere you go isn’t it? It may be pushed faster than anticipated due to Covid-19, and people spending more time in doors but that is the direction we are moving in. Bitcoin and other cryptocurrencies have a lot of appeal in the gambling industry and will play a big part in the future of online gamble. I predict more gambling sites will begin to accept them as a trustworthy payment method. A quick google search will show you there is over ten million results for the phrase “bitcoin gambling”. There are loads of casino sites and a good few poker sites that encourage cryptocurrency. Clearly there is a demand for it.
It seems it’s a question of when and not if, to when people will move over to this way of gambling. Once a couple of the major sites move to it, their competitors will have to as well. The question in a few years may be will it be the only currency used in online gambling? Time will tell…
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