The playing field keeps on changing. And to keep it level enough for a business to go on, as usual, there must be a shift of power –significant changes. That is the same concept that was applied by the casino and gambling industry as soon as cryptocurrencies started being accepted as a form of universal currency. Gambling has been around for decades now, however, punters always used fiat currency when placing bets. Although still widely in use, it is no secret that the industry has also opened up space for crypto gambling.
Effective from the end of the first quarter of 2018, there was already a place at the table for cryptocurrencies in the gambling industry. Dragon Inc. made it clear that they intended on using cryptocurrency to make money transfers easier for high roller gamblers and casinos alike. The Dragon Inc. proposed a way of functioning is that gamblers have to;
- buy cryptocurrency (digital tokens) using their local currencies
- take their digital tokens to any casino that participates in cryptocurrencies
- When they get to their selected casino, gamblers can opt to buy Dragon Global Chips using digital tokens and their smartphone wallet as currency
- The purchased chips can then be used to play any casino game
- Whatever is won and the remaining chips can then be turned back into tokens
- Upon arrival back home, the gambler can go back to the local foreign currency exchange and buy local currency using the digital tokens
With such a well-thought outline, it seems like Dragon Inc. had everything in order and ready to roll. At the moment, the gambling industry and other sectors are still waiting to see how Dragon Inc., moves forward. Meanwhile, blockchain based casinos are proliferating like wildfires.
Types of Crypto Gambling Casinos
Since there are well over 1800-cryptocurrencies with verified White papers, to regulate the industry and make crypto gambling more organized, there is a need for universally accepted currencies to be identified and picked over the rest. At the moment, here are the types of internet gambling sites;
- Bitcoin casinos
- Bitcoin cash casinos
- Litecoin casinos
- Ethereum casinos
- Dogecoin casinos
What remains basic is that almost every crypto gambling online casino allows gamblers to use Bitcoin. If the Dragon Inc. plan goes ahead, then the cryptocurrency will become the new currency in gambling. Bottom line is that the coming in of cryptocurrencies has opened a whole new avenue. With the new venue come new ideas and plans that are seemingly the future of business in general.
How the Introduction of Online Bitcoin Casinos Has Altered the Industry
The introduction of blockchain means better systems and increased security. These are all excellent qualities and they are easy to admire. In a bid to achieve what blockchain represents, the gambling scene has spread out to include blockchain based casinos.
The traditional casino is no longer as appealing as what the future holds. As a result, blockchain casinos online are taking over the field. More players find themselves more attracted and drawn towards blockchain casinos. As far as high rollers are concerned, casinos that accept and deal in blockchain have more for them to benefit. The industry has moved to an era that uses blockchain. Casinos have also moved on to start using and incorporating blockchain systems. Gamblers no longer need to waste time moving between bank and casino trying to change their cryptocurrencies.
Here is a look at some of the bitcoin casinos available
This is not a conclusive list but includes some of the competitive casinos that are into crypto gambling.