Crypto casinos are a new form of gambling that is not regulated by any government. The games are decentralized, meaning that the house does not have control over the game and the odds.
Crypto casinos rely on random number generators to create the odds. So, the providers can’t cheat or change the game in any way.
There are many benefits of playing at a crypto casino. One of the greatest benefits is that players can easily deposit and withdraw money with little or no fees.
Crypto casinos are also more secure than fiat casinos because they don’t have to worry about being hacked or having their data leaked online.
The article below will discuss 12 impressive facts about crypto casinos that you may not know.
First Crypto Casino launched in October 2013
SatoshiDice online casino welcomed its first bitcoin gambler in October 2010. The very first bet was on K-League soccer in South Korea. The bet amounted to less than 0.2 bitcoins, but the value was no more than 24 US dollars at that time.
Cloudbet bitcoin casino still exists but is not among the popular crypto casinos. One of the reasons is that the casino refused to include other cryptos except for Bitcoin as payment methods.
Crypto casinos provide an anonymous betting experience
Crypto casinos are completely decentralized and unregulated. This makes crypto gambling anonymous as the transactions never link to the player’s identity.
Unlike regular casinos, bitcoin casinos never ask players to provide personal data.
Anonymity can be a huge benefit for many gamblers around the world. Especially for the ones that live in strictly regulated countries or religious regimes.
Crypto casinos have lower fees than their fiat counterparts
Crypto casinos have lower transaction fees compared to traditional casinos. Crypto gambling providers are always looking for cryptocurrencies with lower exchange costs. This way they make gambling more affordable to everyone.
Many bitcoin casinos won’t even charge a fee if you are transferring bitcoin to your bitcoin wallet.
But, both withdrawals and deposits can take 5 to 20 minutes to reach your account. This is a bit longer than in the case of traditional casinos.
There are more games available at crypto casinos
Most crypto gambling providers offer more diverse gaming portfolios than traditional casinos. For instance, all crypto gambling websites listed on the crypto casinosonnet offer card games, sports betting, and some even allow crypto trading.
On average, these casinos offer from 300 to 500 different gambling experiences. Many of them are unique to crypto gambling platforms.
Crypto gamblers can access 24/7 customer service
All popular cryptocurrency casinos offer 24/7 customer support service. This is something you cannot find at traditional casinos. They excel at customer care. They provide reimbursements, special bonuses, and even dedicated assistants for VIP players.
Crypto casinos are digital. So, you should expect several different contact options for customer support. You can reach them through WhatsApp, Telegram, Direct Chat on their website, toll-free numbers, etc.
Superb promotions for crypto gamblers only
Crypto casinos offer all sorts of promotions, from free spins to coin bonuses, to reload bonuses.
Some of the promotions available are:
- Welcome bonus
- No deposit bonus
- Free spins
- Referral bonus
- Loyalty programs
- VIP programs
- Competitions
- Event tickets
- Cashbacks
- Crypto bonuses
Dozens of cryptos available for payment
At crypto casinos, the most popular cryptocurrencies are Bitcoin, Ethereum, Litecoin, Monero, and Dogecoin.
But, there are many more options to choose from. If you’re interested in diversifying your holdings and watching your money grow, you can check a list of all available coins at a specific casino.
Most crypto casinos offer 10-15 crypto payment options. Some of them might provide more than 50 cryptocurrencies to VIP players.
Over 150 new crypto casinos appear every year
The global casino market is worth $70 billion, and the number of crypto casinos is rising to meet the demand. More than 10 per cent of cryptocurrency casino businesses launch every year, showing that the industry is growing at a rapid pace.
It still is a surprising number, because to build a crypto casino, would take a company significant time and resources.
Crypto casinos offer the third party audits to ensure fair games
A common criticism of unregulated crypto casinos is that players cannot be sure that they are not being cheated. To combat this, some crypto casinos offer third-party audits to ensure fair games.
These audits have an independent team of auditors responsible for examining the casino’s code, game logic, and finances.
There is no guarantee that these audits will catch every type of cheating. But, they are more likely to do so than players who may be unable to detect cheating because they lack expertise in programming.
There are an estimated 1-5 million daily crypto gamblers in the world
Gamblers enjoy the flexibility and anonymity of cryptocurrencies. There are three major reasons why so many people love crypto gambling:
- Their transactions are transparent and there are no middlemen to take a cut of their winnings.
- Crypto casinos offer a variety of games that one cannot find in traditional casinos.
- Crypto casino transactions are instantaneous and players do not need to wait weeks for the money to reach their bank accounts.
Not all crypto casinos can be trusted
The crypto casino is a way for a casino to get into the crypto market. But, because it is such a new concept, there are many pitfalls that some casino operators are falling into.
One of these pitfalls is the scam crypto casino. These casinos promise a big payout and when a player makes a deposit, they never receive the payout and are also unable to withdraw their funds.
Best crypto casinos will have official licenses
To conduct their operations, cryptocurrency casinos need to be licensed by a gaming regulatory body.
Some jurisdictions such as Malta have opted to regulate the industry themselves. Yet, others such as Curacao have entrusted the task to a third-party organization.
Licensed crypto casinos need to meet certain requirements. They need to be transparent with customers, follow KYC and AML regulations, be audited by independent third-party organizations, and have adequate cybersecurity measures in place.