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Cryptocurrency in a casino: a new trend or waste of time?

Some casinos in Las Vegas announced that they will accept cryptocurrency payments by players. Moreover, some casinos develop blockchain gambling sites. Why is it in demand and what should we know about that?

Many legal casinos and slot machines available in New Zealand provide crypto payments. The main reason for the legalization of casinos was an appearance of full control of payment within the casinos, winnings, and their safety. Therefore, this new trend with crypto casinos allows operators to accept safe payments. On top of that, players feel safe while making transactions, since casinos may seem dubious for the first time.

Nowadays, it’s already possible to transfer money via cryptocurrency wallets. So, you can make a deposit, and even withdraw winnings. As a result, it allows players not to wait for international transfers for several days, and avoid paying commission to banks.

The same policy is going to appear in the land-based casinos. On the page below, we will give you everything you need to know about crypto casinos. Including the main threats that players may face.

What is a crypto casino?

By and large, the “cryptocurrency casino” differs from the usual one only in the key payment instrument. They use not fiat money, but digital coins.

Otherwise, crypto gambling platforms are no different from ordinary online casinos. Here you can also find thousands of types of slots, roulette, or, for example, sports betting.

Among the features of crypto casinos, they provide crypto wallets that store digital coins. Typically, these wallets have places for the popular “crypto”, including Bitcoin, Ethereum, Binance, XPR, and others.

But, it’s not as tasty as you may think. As well as regular casinos, crypto casinos still have some restrictions regarding the withdrawal of funds to the personal account. But, as time shows, top online casinos worldwide with a good reputation do not delay payments, and cryptocurrency transactions are faster than traditional e-wallets, or banking cards.

Why did crypto casinos become popular?

Obviously, the main concept of cryptocurrencies has become the key to the popularity of crypto casinos today. Users like the idea of ​​secure and anonymous transactions that are very difficult to track or fake.

This payment method allows players to avoid bank fees and various third-party payment systems by sending money directly to their accounts.

The cryptocurrency transaction process does not require the transfer of personal data, bank account information, or identification documents. And modern crypto exchanges allow you to do this as quickly as transferring money to your friend via bank application.

In addition, some land-based casinos in Las Vegas began to promote the idea of ​​a cryptocurrency in a casino. A couple of weeks ago, the management of the Resorts World Las Vegas hotel-casino announced a partnership with the Gemini cryptocurrency platform.

In the beginning, at Resorts World Las Vegas players could only pay for non-gambling things. But the administration assures that soon players will be able to buy gaming chips with cryptocurrency. However, it’s necessary to approve the use of cryptocurrencies in casinos at the legislative level.

The main obstacle for casinos to introduce cryptocurrencies in casinos is the government regulations. In different countries, there are different attitudes toward bitcoin and other cryptocurrencies.

Blockchain

Another feature of the use of cryptocurrencies in gambling is blockchain technology, which supports all digital coins without exception.

The fact is that with the help of a decentralized chain, you can create random number generators (RNG). In general, this is responsible for the operation of all online slots and even poker rooms.

By the way, in early 2021, multiple world poker champion Phil Ivey confirmed his intention to be an ambassador. He contributes to the launch of Virtue Poker, the first online poker platform on the blockchain.

In the near future, casino developers should present their decentralized product, which guarantees the principles of fair play, a high degree of protection of users’ money, and comfortable use of the poker room.

The balance of each Virtue Poker player will be stored on their Ethereum wallets, and the money will go directly to the poker room only during the game.

This means that if a casino suddenly closes, all users’ money will remain with them.

Conclusion

Crypto casino is a pretty good idea, or rather a technology that is already playing a big role in some casinos.

The problem with this lies only in government control and hatters of cryptocurrencies, who do not consider digital money to be a reliable financial means.

However, in the case of the development of the correct and successful use of crypto casinos, they can solve the main problem of the players, which is the quick transfer of funds between accounts and full control over the transactions they carry out.

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FAQ

Online casinos are made for money. However, who owns the money, you or casino? It’s clear to everyone that online casinos always win. First of all, because you lose. And even though you win, this sum isn’t a damage for the gambling site income. So, what is the 100% way to win, and win for real?

You have to understand that gambling is a tricky thing. The main feature is randomness. Thus making a spin you can’t really know what will be the result. Will you win, or lose? It’s impossible to predict. Perhaps, the only method you can apply is using betting strategies and appropriate tips. Below I’ll give you the tips that can lead your game to a beneficial ending. Though I don’t guarantee the 100% winning. The game randomness and your own luck are still priority for the final result.

Use these tips

  1. Choose gambling website wisely. The real money can be given out by the official site only. Make sure it’s not a fraud. The real money casino must obtain licence, official registration and adequate terms & conditions. For more info on how to spot the real online casino, read our blog for the relevant topic.
  2. Bet strategically. Don’t bet too much on the first round. Let the game begin with the minimum bet amount. Probably, the first 5 spins will be failing. Later, when you’ve lost a bit of your deposit, the game will start raising the probability of good results. You’ll feel it. This time you can raise the bet a bit more. But still not all at a time. Analyze the gameplay and bet accordingly.
  3. Stop on time. If you see that you fail constantly, just quit the game. It won’t bring you good results. Try the next time, with the fresh willing to play and win. However, if you still have enough money for several spins, I suggest to lower your bet to the minimum, and play until the RNG decides you need some winnings.

I recommend that you first learn to look for bonuses and use them! Today, the biggest share of casino earnings comes from bonus programs. Make sure to learn about the wagering requirements, how to wager the bonus, which slot machines to wager on, and go collect.

The era of innovative technologies and artificial intelligence has reached online gambling too. In fact, both online casinos and players can apply cyberbots to the games with a purpose of outsmarting.

Players who are very good at computers and relevant programs create the bots with algorithms for winning. They do it for two reasons. First, they want to outsmart online casinos, in a word, to win. Second, they simplify the gameplay for themself. They no longer play, they win with a perfect strategy.

On the other hand, online casinos implement cyberbots to stay in advantage. In other words, to keep the edge in house. Mainly, the bots are created for table games like poker or roulette, and ever-known blackjack. To tell the truth, players have two problems with games that prevent them from winning. They are the programmed bots and the codes generated by a computer to shuffle cards, deals and so on.

In order to outsmart the online casino cyberbots, you need to know the algorithms of the bot and code. Actually, it is very easy to figure out if your opponent is a bot. It follows the same patterns and refers to general statistics. It also ‘thinks’ the same certain amount of time. No more, no less, a couple seconds and it gives the result.

Conclusion

All in all, the method to outsmart a cyberbot of an online casino is to recognize the patterns it uses. Simply put, if you know the strategy of an opponent, you know how to beat him. The algorithms are identical and consistent. So, if you understand the rules of table games, and have just a little knowledge of information science, it will not be a problem for you.

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