Ever since Bitcoin debuted in the gambling world, its impact on the industry has been profound. More and more crypto casinos started emerging, offering players a secure and decentralized way to enjoy their favorite games.
Players started running to casinos that payout instantly as they allowed them to access their winnings without any delays and avoid dealing with traditional banking processes. Playing at these casinos also meant they no longer had to worry about sharing sensitive personal and financial information.
Bitcoin has now hit a record high after reaching $100,000 on December 5th. While this price surge is guaranteed to trigger significant shifts across the world of cryptocurrency, let’s look at the impact it’ll have on crypto gambling.
More traditional gambling sites might embrace crypto
Over time, crypto casinos have become the staple of the gambling industry. However, there are traditional platforms out there that still don’t support any tokens, mostly due to market volatility and a lack of understanding.
Still, crypto enthusiasts see Bitcoin hitting $100,000 as confirmation of the sector’s long-term viability. Even some financial powerhouses like JPMorgan Chase and Morgan Stanley, who were initially sceptical about Bitcoin are now investing heavily in it. Some analysts even see the popular token hitting $150,000 before the summer of 2025.
It also looks inevitable that traditional gambling platforms will finally consider adapting to the growing demand for crypto payment options and integrating digital currencies into their payment systems. Failing to do so could leave them trailing far behind crypto casinos and missing out on players who value the speed, security, and anonymity cryptocurrencies offer.
If traditional casinos don’t adapt, it’s expected that more players will turn to crypto casinos after November turned out to be a monumental month for digital currencies. With the growing confidence in Bitcoin, they’ll ditch fiat currencies in favor of crypto transactions due to faster payouts and increased security.
Additionally, as players from countries with volatile currencies continue to look for more financial security, an increased number of them will turn to casinos that offer deposits and withdrawals in cryptocurrencies.
Some nations are even turning to cryptocurrencies as the future of their economy. El Salvador recently made $200 million on its Bitcoin bet and with the token continuing to go up, its potential as a stable and secure financial option in all markets, including online gambling, is becoming increasingly evident. The country’s president, Nayib Bukele, was triumphant about the country’s big bet after the token hit $100,000.
We’ll see more technological advancements in the industry
Many of the recent technological advancements we witnessed in online gambling originated through the use of crypto.
Probably fair gaming emerged as one of the revolutionary concepts in the industry, allowing players to verify the fairness of their popular casino games using blockchain technology. Now, with even more attention to cryptocurrencies following the latest Bitcoin surge, we can expect to see the use of this feature expand and be integrated into even more games. This will further strengthen the trust between players and platforms as more of them adopt blockchain technology.
The same goes for smart contracts, which have proven to be an important tool in automating online transactions in online casinos. They’re likely to be integrated more widely across online gambling platforms.
Smart contracts may even lead towards more peer-to-peer betting, with users using them to create custom bets between themselves.
Crash games may also receive significant enhancements as they continue to grow in popularity within crypto gambling circles. These games rely on real-time multipliers and allow players to cash out at any time they want. With the confidence in Bitcoin and other tokens increasing, they may evolve further by incorporating more features powered by blockchain technology.
