The gambling scene has witnessed major transformations in the past few years. The most notable of all changes has been the incredible metamorphosis of gambling platforms to online mediums that have started mushrooming. The best part is – these changes have been triggered by the rise and rise of cryptocurrencies.
Ever since cryptocurrencies have become more mainstream in several sectors, they have changed the conventional structures into something more transparent, secure, and rapid. Online gambling too, fortunately, has become a part of this bandwagon. Due to the amplification of the internet, cryptocurrencies have emerged as a convenient payment option in this sector.
Understanding crypto gambling
Cryptocurrency gambling allows people to bet with cryptos. Many people believe it is a safer form of gambling because it stores all the transaction data on the blockchain. Once validated these transaction entries are irreversible which is good as it can save crypto gamblers from being scammed.
In the world of crypto gambling, there are crypto-only sites that limit gambling and payouts only through crypto. Yet it is important to research every site well enough before taking the plunge. Consider Sportsbet.io, a fun Bitcoin sportsbook that focuses on sports betting has proven itself as a robust Bitcoin gambling platform after its partnership with BitCasiono.io. Punters and gamblers are in for a win-win situation with a great number of live events, VIP hostesses, transparent process, and faster payouts. There are also some well-established entities that are already running their casinos and have started offering cryptocurrencies for people who want that flexibility.
Gambling sure has risks especially with cryptocurrencies but it has found wide acceptance. On many blockchain platforms like TRON, a huge chunk of transactions are related to decentralized gambling apps. This could be merely an evolution of ideas and innovation with respect to the use of cryptos. Gambling allows them to combine entertainment and hopes of making a big win!
Which cryptos to use?
There is no definite source to indicate which crypto is better for betting, but people usually prefer to use the ones which are connected to those platforms that have rich gambling transaction experience. Since Bitcoin is the most well-known and well-accepted crypto, it is likely to be the most accepted one established casinos.BetHash is one such Decentralized Casino built on EOS and uses hash to draw the winning numbers. Every transaction, bet, and reward stays in the Blockchain. The platform also promises a cheat-free mechanism and promising rewards and referral bonus. To increase fun and engagement, it also provides high Loyalty Rewards. The popularity of this Bitcoin-based Casino has soared so high that BetHash has paid more than 30,000 EOS in the last 3 months with an annual yield of 150%.
There is not much of a difference between the conventional online options and crypto options. It is true that crypto gambling comes with additional perks like new games and live dealers, however, the idea is still emerging. It will be smart to be extra cautious while treading on it.
Image Source – KAP Digital
