{"id":3392,"date":"2021-09-06T14:35:08","date_gmt":"2021-09-06T14:35:08","guid":{"rendered":"https:\/\/icoholder.com\/blog\/?p=3392"},"modified":"2024-10-03T07:53:13","modified_gmt":"2024-10-03T07:53:13","slug":"will-cryptocurrency-casinos-completely-take-over-the-igaming-industry","status":"publish","type":"post","link":"https:\/\/icoholder.com\/blog\/will-cryptocurrency-casinos-completely-take-over-the-igaming-industry\/","title":{"rendered":"Will Cryptocurrency Casinos Completely Take Over the iGaming Industry?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/icoholder.com\/blog\/will-cryptocurrency-casinos-completely-take-over-the-igaming-industry\/#Responsible_Gambling\" >Responsible Gambling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/icoholder.com\/blog\/will-cryptocurrency-casinos-completely-take-over-the-igaming-industry\/#Coins_for_Gambling\" >Coins for Gambling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/icoholder.com\/blog\/will-cryptocurrency-casinos-completely-take-over-the-igaming-industry\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">According to an article published on the Gambling Research Exchange Ontario (GREO), online gambling already accounts for half of the Bitcoin transactions. And, online gambling in Norway is legal as you\u2019ll find on <\/span><a href=\"https:\/\/norskecasino.casino\/\"><span style=\"font-weight: 400;\">norske nettcasino<\/span><\/a><span style=\"font-weight: 400;\"> where there are thousands of users that have opted to use the cryptocurrency route.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/norskecasino.casino\/authors\/jorgen-aasgen\/\"><span style=\"font-weight: 400;\">Jorgen Aasgen<\/span><\/a><span style=\"font-weight: 400;\"> is knowledgeable in the <\/span><b>casino industry<\/b><span style=\"font-weight: 400;\"> and is here to guide us through this article. He is an expert in the field of igaming and has closely monitored the crypto trend that is slowly taking over the casino and sports betting community.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The use of <\/span><b>cryptocurrencies in gambling<\/b><span style=\"font-weight: 400;\"> websites is likely to increase, with regular new coin offerings, providing choice to the gambler.\u00a0<\/span><\/p>\n<p><b>Regulation<\/b><\/p>\n<p><b>Crypto casinos<\/b><span style=\"font-weight: 400;\"> are not yet subject to the same regulations as fiat currency casinos, although they would be wise to comply with <\/span><a href=\"https:\/\/cryptoslate.com\/crypto-bets-via-bitcoin-ethereum-xrp-are-fueling-illegal-gambling-in-asia\/\"><span style=\"font-weight: 400;\">these regulations<\/span><\/a><span style=\"font-weight: 400;\"> in anticipation of compliance becoming compulsory. If they don\u2019t, they are vulnerable to a critical business risk when this happens, as it\u2019s not likely there\u2019ll be much warning. In any case, it would be a brilliant marketing move.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some new cryptos are being developed specifically for gambling- CasinoCoin CSC\u00a0 was explicitly designed for the regulated online gambling industry. It uses the same\u00a0 Ripple blockchain technology as many banks use and is easy for casinos to accept, as it has built-in \u2018Know Your Client (KYC) and Anti-Money Laundering (AML) capabilities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its only use is for gambling, and it allows you to gamble without creating an account at the casino. It begs the question of whether one would still qualify for bonuses, although that would presumably remain at the casino\u2019s discretion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The mere existence of such a coin suggests that more will follow, although online casinos will soon be weary of having to change their software to accommodate the release of every new token. This hurdle is still some way in the future, so it needn\u2019t worry us now.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are no laws regulating crypto gambling, but they could be disruptive when introduced.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The anonymity and security of gambling with crypto allow online casinos to be available in restricted areas such as China. While there is a growing demand in such places, it is illegal. For now, some online casinos are taking the opportunity to increase their profits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the cryptocurrency casino industry matures, there will no doubt be more legal challenges to face. The more casinos can anticipate these, the less disruptive they will be.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Responsible_Gambling\"><\/span><b>Responsible Gambling<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Using cryptocurrency in a casino, whether online or land-based,\u00a0 is a double gamble. The player is gambling on the coin itself and the game\u2019s outcome and should remain aware of this. We know that Cryptocurrencies are volatile.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It would be terrible to have a big win only to find it wiped out due to the volatility of the cryptocurrency used. Many gamblers welcome the anonymity that gambling with cryptocurrency provides, but it does make it more difficult to impose restrictions for a gambler with a problem.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coins_for_Gambling\"><\/span><b>Coins for Gambling<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We can see from the number of ICOs that <\/span><a href=\"https:\/\/icoholder.com\/en\/icos\/ongoing\"><span style=\"font-weight: 400;\">new cryptos are still being developed and released.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s hard to imagine casinos scurrying to change their software to accommodate each one, so there must be a natural limit. We\u2019ve already mentioned Casino coin (CSC), and expect there\u2019ll be more like that.<\/span><\/p>\n<p><a href=\"https:\/\/thebitcoinnews.com\/will-gambling-be-bitcoins-last-hope-after-chinese-crash\/\"><span style=\"font-weight: 400;\">Blockchain technology<\/span><\/a><span style=\"font-weight: 400;\"> allows for radical changes to the <\/span><b>future of the casino industry<\/b><span style=\"font-weight: 400;\">, both in new coins and in the games themselves, decentralising different functions. This is not in wide use yet but seems an inevitable progression.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coinpoker (CHP) developers have already demonstrated this by developing the CHP coin\u00a0 for a specific game and use at coinpoker.com. They released the coin in 2018 in response to a problem with card shuffling. You can trade CHP on some exchanges but can\u2019t spend the coins anywhere else.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We can expect more innovations like this. The development of online casinos is likely to become more complex and specialised, as more and more opportunities for improvement become clear.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The rising popularity of online gambling and blockchain technology is providing more opportunities for innovation. It would be surprising if Cryptocurrency Casinos don\u2019t take over the igaming industry.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to an article published on the Gambling Research Exchange Ontario (GREO), online gambling already accounts for half of the Bitcoin transactions. And, online gambling &hellip; <\/p>\n","protected":false},"author":1,"featured_media":3393,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,1],"tags":[],"class_list":["post-3392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gambling Online: Cryptocurrency Trends and Regulations Explained<\/title>\n<meta name=\"description\" content=\"Explore the intersection of online gambling and cryptocurrency, focusing on emerging regulations and market trends in this field - IcoHolder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoholder.com\/blog\/will-cryptocurrency-casinos-completely-take-over-the-igaming-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gambling Online: Cryptocurrency Trends and Regulations Explained\" \/>\n<meta property=\"og:description\" content=\"Explore the intersection of online gambling and cryptocurrency, focusing on emerging regulations and market trends in this field - 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