Bitcoin is the latest craze to make its way to the world of online gambling. The digital currency has enjoyed considerable growth in the last twelve months, with more people worldwide switching on the benefits of trading in a decentralized, digital currency online. As supporting technologies continue to improve, it’s becoming increasingly straightforward for players to choose Bitcoin for their casino deposits and withdrawals – a fact that hasn’t been lost on the industry. Casinos seem to love Bitcoin, and there is a reason for it.
While Bitcoin still remains an emerging market for casinos, some early adopters are already putting together good games, specifically aimed at Bitcoin players. Combined with slots, the year’s other success story, this looks like it could represent a sizeable opportunity for the industry in the months and years to come. But why is Bitcoin even considered an option for playing slots online, and will the big boys of the industry ever catch up?
[pullquote]Bitcoin, for the uninitiated, is the foremost digital currency, wholly decentralized from governments and banks.[/pullquote] It operates through a distributed ledger system, transferring encrypted data to record transactions – and thereby dispensing with the need for physical cash. It’s becoming an increasingly popular way to buy and sell online, particularly in environments where it’s important to have maximum security and privacy.
For the mainstream gambling industry, Bitcoin is still seen as too volatile a currency to engage in. Historically, Bitcoin has seen massive fluctuations in its value relative to local international currencies, which represents a risk for casinos and indeed any business. However, as the market continues to stabilize, and more people start to engage in Bitcoin transactions, it is becoming increasingly hard for corporate players to resist. If customers want to pay in Bitcoin, businesses need to be prepared to accept that money – and casinos are no different.
Where To Play Bitcoin Slots
At present, Bitcoin slots still remain outside of the mainstream. There are casinos specifically set up for Bitcoin players, and this is where the majority of the action is to be found. So sites like CoinRoyale remain at the forefront of the action in this emerging corner of online gambling. The games are still pretty simplistic, and nowhere near the sophistication of your standard video slots or progressive slots title. That being said, they are still good fun, and it’s still possible to win more Bitcoin in the process when the reels are on your side.
The difficulty comes with finding a range of options – there simply aren’t too many, and Bitcoin slots still remain somewhat thin on the ground when you compare them to regular slots.
Fortunately, this state of play is unlikely to last long, and some big names in the online gambling industry are rumored to be preparing to launch a series of Bitcoin slots. When they do, this will no doubt take Bitcoin gambling even further into the mainstream, with slots no doubt central to that focus. Rumors are swirling about partycasino introducing bitcoin slots when they release a raft of new games throughout this year.
In six months to a year, it seems likely that there will be much more choice available for Bitcoin slots players, so there will be no need to restrict the action to niche sites and other small players. As Bitcoin becomes more established, and the big names in the industry start to launch their offerings, it remains to be seen just how big this new innovation in online gambling will become.