Crypto currencies are now accepted at many online vendors and people pay for goods and services, or use them as an asset for their investments. According to Bloomberg, gambling apps have grown in popularity and they are now frequently used by those who have discovered the benefits of the blockchain. Last year, the CryptoKitties app have the dominant position, but now a new gambling app which goes by the name of Fomo3D overtook it for the first place.
Blockchain Based Gambling Apps Surge
2018 has been so far of very bad year for those who found it worthwhile to invest in crypto currency. On the other hand, gambling apps using digital money have gained a lot of traction with a broad audience of customers. Dozens of such projects have made the entrepreneurs and investors behind them rich and they continue to set new records every month.
The fact that crypto currencies took a dive this year has actually helped those who developed these specialized applications. That’s because those who had high hopes in 2017 are now trying to salvage some of their failed investments. The prospect of gambling crypto currencies such as Ethereum for a chance to win more and offset the losses, suddenly sounds like a good idea.
A Question of Licensing and Legality
People who have embraced crypto currencies were aware right from the start that digital currency isn’t properly regulated. They were willing to take chances nevertheless, so it comes as no surprise that many don’t worry about the licensing of these gambling apps. Gamblers find solace in the fact that the entire process is governed by software, install the app and hope for the best.
Meanwhile, traditional gambling operators, such as bookmakers, casinos and poker rooms continue to accept crypto currency deposits. Many of them are licensed and claim to run an honest business while promoting an entirely different type of gambling from what the aforesaid apps suggest.