How Cryptocurrencies Affect Online Casinos Around the World
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Crypto casinos are virtual platforms that allow the use of cryptocurrency and they are becoming extremely common. Wherever online gaming thrives, you will find that crypto platforms are expanding, scaling, and developing innovations. Read more about crypto in gambling in the post.
Leaders of the Industry
In Europe, crypto casinos are aggressively expanding across the continent. This has been streamlined with the support of independent auditing and licensing organizations such as eCOGRA and Gaming Laboratories International. This can be seen in recent deals made by global online casino provider Evoplay, which supports over a hundred cryptocurrencies. Trying to enter the Italian market, Evoplay has partnered with Giochi di Slots. In turn, this creates the possibility for a well-known local Italian operator to accept cryptocurrency for games just like the bitstarz50 in Canada, as well as gives it access to Evoplay’s global advertising resources.
With the involvement of organizations such as eCOGRA, European online casinos have played an important role in the global expansion of crypto. The same can be said for online platforms and gaming companies in the US. American online casinos are promoting not only cryptocurrencies but various blockchain-based asset exchange technologies. For example, gaming giant Atari is developing its own virtual reality cryptocurrency casino called Decentraland. The blockchain-based virtual world has become a new way for brands and artists to sell virtual assets in the form of non-fungible tokens (NFTs) – blockchain-validated assets that are rapidly gaining popularity.
The value of Decentraland MANA cryptocurrency has grown by 3,500% over the past year. A new crypto casino would be a solution that Decentraland needs to further expand its influence in the “real world” markets. Besides, Atari Casino’s business model, which is almost entirely based on blockchain, provides a glimpse into the future of crypto casinos.
The Most Promising Market
The convergence of blockchain technology with the fast-growing global online casino market is a marriage made in heaven. Both billion-dollar industries are focused on making more than billions. These developments highlight the looming global takeover of blockchain and digital currencies.
Even in Macau, a gambling Mecca for high-stakes land-based casinos, digital currency is taking a leading role. The digital yuan is currently being used by Macau’s regulators and the Central Bank of China to revive the local gaming industry, hit by the pandemic. Apart from online games, even land-based casinos use cryptocurrencies.
Meanwhile, in Vietnam, gaming company RubiCon is taking over the social casino market in Southeast Asia. The provider offers digitized versions of local card games that can be played with blockchain tokens in a unique social format that has allowed it to dominate the sector. RubiCon also uses blockchain as a core component of its independent platform that can be built on the social gaming model.
In Conclusion
There is no doubt that cryptocurrency casinos, online or land-based, will shape the gaming industry in the future. With such an aggressive expansion, innovative new games and formats, and the integration of more blockchain technologies, crypto casinos will definitely take a leading place in the gambling market.
