Reasons Why Bitcoin Gambling is on the Rise

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Reasons Why Bitcoin Gambling is on the Rise

Online casinos have been pioneers of innovation and technology. Therefore it’s not surprising that a good number of online casinos are offering bitcoin gambling games. The main reasons for adopting bitcoins in the gambling industry hang on the multitude of possibilities that bitcoin affords both online casinos and gamblers. Below are the reasons for the rise of bitcoin casinos.

1. Anonymity

If there is only one thing most people would not forget about bitcoins, it is the fact that bitcoin does not reveal users’ identity. User identification is quite a concern for some gamblers in particular countries. This particularly rings true, where gambling activities are used as key determinants of how much loan or credit facilities are available to the gambler. Anonymity may offer gambler better credit standings.

Since most bitcoin gambling sites such as Syndicate Online Casino, require only your bitcoin address, users’ gambling history may be concealed effectively. Also, if a bitcoin gambling site gets hacked, players need not worry as none of their details would be saved on the site itself.

For online casinos that require registration, a hacking incident can cause lots of worry to players who have supplied their details.

2. Freedom

Many online gambling casinos that accept fiat currencies have geographical limitations and regulations on players. For instance, players from some particular countries may not be allowed to play their favourite games. However, bitcoin casino games remove most of these restrictions as players can circumvent regulations and continue to play their games unhindered.

The new-found freedom for gamblers also bodes well for the bitcoin casinos as they get more patronage and reputation in the business.

3. Low fees

Many online slots for cash offering bet games in fiat currency charge withdrawal and third party fees. Since third parties are reduced in bitcoin casinos, there is no need to pay such fees. However, during each transaction, bitcoin users are required to pay a compulsory transaction charge. Bitcoin transaction charges are generally lower when compared to transaction charges from fiat currency alternatives.

4. Reduced Risk

Many people acquire bitcoins either through mining or as a gift from peers. The use of such bitcoins instead of fiat currency minimizes the risk of going bankrupt as a result of poor gambling habits.

5. Opportunity To Increase The Value Of Wins

Due to the price volatility of bitcoin, many gamblers are taking advantage of increasing their cash-out value. For example, a gambler wins one bitcoin, which was worth $8500. If he leaves the bitcoin in his wallet for a few days and the value of 1 bitcoin goes up to $9000 and above, the gambler has added at least $500 value to his winnings if he converts the bitcoins to cash at the given instant.

6. Access To The Use Of New Technology

Gamblers who are new to the bitcoin scene can gain more experience and knowledge through the use of online bitcoin gambling sites. Once the new entrants understand how bitcoin works, they can then join other people around the world who are using the bitcoin platform to their advantage.

Also, as many bitcoin casino games are being integrated into blockchain, gamblers can be sure they cannot be cheated, since it’s a reliable platform. Once a gambler is lucky enough to make a win, he or she will surely get paid.

As blockchain technology gets more advocates globally, it is more likely for online casinos to find more ways of integrating their games to enrich players’ experience. Syndicate Casino predicts bitcoin gambling will keep transforming the online betting space until something new comes up.

Can you give us your thoughts on your first bitcoin gambling experience? We’d love to hear from you!

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