With every passing day, it seems like another crypto casino has sprung into existence. However, not many people know much about them and how they came to be. Today, Ron from Crypto Lists gives you a Christmas Eve lesson on the history of crypto casinos.
To cynics who equate the cryptosphere to gambling, you could argue cryptocurrencies have given the online casino industry a run for its money in recent times when it comes to speculation. However, there is an interesting angle in which to view this. Let’s take a quick look at the history of online casinos as a whole before moving on to discuss the intriguing role that crypto currently plays.
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iGaming: A Novel Sector
Even avid iGaming (a synonym for the online casino and sports betting sector) fans might be surprised to learn that the first online casino was launched as far back as 1995. Originally developed by software developer Playtech, the technology was obviously rudimentary for its time. However, things soon began to change with the introduction of broadband Internet.
The rise of online casinos became even more pronounced when the smartphone was introduced to the average consumer. Countless games could now be accessed even while out and about; an excellent way to enjoy a bit of downtime or even to generate a side hustle. You suddenly had the ability to watch a sports game out with friends, and quickly place a bet during halftime.
Of course, the software as well as the payment methods likewise evolved alongside the games themselves. As 3G speeds gave way to 4G wireless connectivity in the mid 2010s, other unique options such as live dealer games became available. These are some of the reasons why the entire industry is currently estimated to be worth close to $60 billion dollars.
The Rise of the Crypto Casino
During the same time that the online casino sector was enjoying a relatively bullish climate following the global recession, cryptocurrencies and blockchains such as Bitcoin had begun to take hold within a handful of investment circles. Still, it would take the casino community a bit more time to warm up to what these decentralized transactions had to offer.
The first official crypto casino (rightfully named SatoshiDice after the famous Bitcoin inventor) was launched in 2013. This portal would eventually be renamed Cloudbet; a casino that is still in operation today. The only main issue was that cryptocurrencies were relatively unfamiliar to the general public at the time. In other words, the associated target market was somewhat limited.
Having said this, the crypto ecosystem began to enjoy mainstream popularity thanks to the meteoric rise of benchmark currencies such as Bitcoin and Ethereum. If these assets could be used as tradable items, why not also present them as an online casino payment option? While there is no real consensus in regard to exactly when the crypto casino community began to pick up steam, the simple fact is that countless dozens can now be accessed by the general public.
One trend we’ve noticed is that crypto casinos become more popular during a bear market, as people want to put their coins to good use while having a bit of fun.
Ron’s top picks
So, what are some of the most well-known crypto casinos and what benefits does each have to offer? Let’s continue by taking a look at five well-known examples.
Not only does this platform offer access to more than 6,000 games, but it boasts a crypto-friendly architecture. Some payment methods include Bitcoin, Ethereum, Litecoin, Ripple, and MiFinity. Haz Casino also works in tandem with some of the most respected software providers in the industry.
Want to check out the casino world? Then give Haz Casino a whirl.
Founded in 2010, Crypto Games is known for an impressively high return-to-player (RTP) ratio as well as lucrative bonus programs. Some cryptocurrencies that are accepted by this platform include Bitcoin, Dash, Litecoin, and Ethereum. While only a handful of games are currently available, this could still be an interesting choice if you wish to dip your toe into the water before taking the next step.
Want to have fun and play? Sign up for Crypto Games today!
Providing access to an incredible 7,000 casino games, Bit Vegas is one of the newer portals to enter into the crypto marketplace. This platform is also extremely generous; providing members with an automatic 20 percent cashback reward each and every week that is not limited to any type of wagering requirements. Bit Vegas supports cryptocurrencies including Bitcoin, Ethereum and USDT.
Any more takers? Head on over to Bit Vegas!
Flexibility is the name of the game in terms of JustBit. Countless crypto payment solutions are available and these are provided within an extremely intuitive user interface (UI). We should also mention that sports betting is available on this platform; a nice touch if you are a fan of bookmakers.
Got an insider tip? Place your bet at JustBit!
This is yet another crypto casino worth checking out. BC Game offers extremely fast withdrawals alongside multiple currencies such as Tether, Dogecoin, Tron, and Bitcoin. Anyone who enjoys online slots will also be happy to learn that there are more than 1,000 games to choose from; a great way to even out the odds.
Note that these are only three examples of the numerous crypto-friendly casinos which can be accessed. Feel free to check out Crypto Lists to appreciate the finer points as well as to learn more about additional portals.
Wanna make it rain like Lil Wayne? Sign up for BC Game!
A Bright Future
So, what’s the overall appeal of crypto casinos? Here are some of the main takeaway points:
- Extremely fast withdrawal times.
- Low or no transfer fees.
- Superior levels of security and anonymity.
- Access to a kaleidoscope of cutting-edge games.
It’s now clear to understand why cryptocurrencies are taking the online gaming sector by storm. From seasoned players to those who are just becoming involved with online casinos, there’s little doubt that these transactions will become even more commonplace in the very near future.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.