Crypto casino VS. regular online casino
Online casinos appeared relatively recently, just over ten years ago. However, they quickly became as much a part of life as smartphones or high-speed internet. According to experts, the volume of the global online casino market has exceeded five trillion dollars, and by 2026 this figure may reach seven trillion dollars.
It is quite logical that such a rapidly growing area as online casinos is constantly changing. Every year, software developers present new games, among which slots occupy a special place, and gambling platforms are becoming more high-tech. In addition, users can bet for real money, and recently it has become possible to play for money not only from a PC, but also in mobile casino applications.
Among the latest changes in the world of online casinos, a special place is occupied by crypto casinos that operate using blockchain technology.
What is a crypto casino
Thirst of all, crypto casinos are those that accept payment with digital coins, such as Bitcoin, Litecoin, Ethereum, Tether and others.
There are two types of casinos on the Internet that use cryptocurrencies.
- The first type is the usual online casinos that accept payments from users both in traditional currencies and in cryptocurrencies, for example, in Bitcoins. In terms of their structure, such online casinos are practically no different from the usual online casinos. They use the same software and do not use blockchain technology. In fact, those are not really crypto casinos, but regular online casinos that accept payments and make payouts using cryptocurrencies.
- The second type of casinos are full-fledged crypto casinos that operate using blockchain technology. Such casinos do not have a server or even a license. As you know, the blockchain is, in fact, a huge decentralized database. This technology does not require a central server, it runs on users’ devices. In a crypto casino, all processes, such as games, RTP control, payment processing, and all other elements of an online casino, work on the blockchain. With the help of smart contacts, the blockchain automatically processes all payments. Thus, the correct operation and honesty are controlled by the technology itself, as well as by the players, and therefore no license is needed for cryptocurrency casinos.
Differences between a cryptocurrency casino and a regular online casino
As already mentioned, the main difference between a crypto casino and a traditional online casino is the software. In addition, an online casino needs a license, which confirms that the work of this casino is regularly checked by competent organizations and that all games in this casino work in accordance with the algorithms established by the developers. The cost of such a gambling license is quite high and can reach several million dollars. At the same time, a license is not required for the operation of a crypto casino, since all processes in it take place automatically using the blockchain. Accordingly, this eliminates the possibility of manual intervention in established processes.
Also, the operation of a traditional online casino requires contracts with software providers, hosting, a system for processing financial transactions, and much more. At the same time, such online casinos can only accept visitors from those countries that are provided for by the license. For the operation of a cryptocurrency casino, all of the above is not required.
Benefits of a cryptocurrency casino
As you can see, cryptocurrency casinos have a number of advantages over regular online casinos, such as:
- No license required. Since the crypto casino does not have a central server hosted in any country, accordingly, it does not require permission in the form of a gambling license from the authorities of the country where the server is located. Moreover, such a casino has no restrictions on accepting visitors from a predetermined list of countries.
- You can be sure of the RTP of the games that crypto casino offers. Thanks to blockchain technology, players can check the RTP on the games they choose. This system cannot be fooled, so it does not require regular checks by auditors.
- Crypto casino can work automatically, it does not need to confirm each action manually. For example, players receive winnings automatically, since each operation is already in the blockchain and each winning is automatically linked to a smart contact. In simple terms, this means that the winner will definitely receive his winnings. Blockchain technology works completely autonomously and does not allow outside interference.
- The chances of winning in a crypto casino are higher than in a regular online casino. In games offered by crypto casinos and regular casinos, the RTP is slightly different. In most games in crypto casinos, the RTP reaches 98-99%, while in regular casinos this figure ranges from 95% to 99%. Accordingly, in a crypto casino, the frequency of winnings will be higher.
As you can see, cryptocurrency casinos have a number of undeniable advantages over traditional online casinos. At the same time, crypto casinos are a fairly new phenomenon and many organizational issues in their work still remain unsettled. Don’t forget to check the best crypto gambling sites rating.