Will 2018 Be the Year of Bitcoin Casinos?Published December 28, 2017 by Ivan P
What 2018 holds in store bitcoin casinos? Are we likely to see more of these opening their doors and what are some challenges that lie ahead?
Looking back at 2017, with only a few days left on the calendar, one thing can be stated with certainty. Bitcoin has really experienced an unexpected boom that propelled this original crypto-currency well beyond even the boldest predictions.
Another thing that's fairly clear is that this boom has been greatly helped by the online gambling industry. Casinos and other gaming sites accepting bitcoin have helped it move onto the main stage and become the force that it is today.
Looking at the past few months especially, we've seen a number of sites opening exclusively as bitcoin casinos or adding bitcoins and other crypto-currencies to their payment systems. So, the natural question to ask is: will 2018 be the year of bitcoin casinos?
The Industry Requires Changes
The online casino industry is moving in the direction of changes all across the board. Traditional ways of gambling don't seem to cut it anymore with the new generation that requires an approach much different to what casinos are used to.
Bitcoin casinos fit this idea very well. There is a growing base of bitcoin users out there, many of them members of this next generation of potential players. In 2018, online gambling sites are likely to go with the flow and try to cater to this group by expanding with bitcoins and other cryptos.
This might be the breath of fresh air that is required for the gaming industry to continue to thrive in the increasingly competitive and demanding circumstances. Having a chance to play with bitcoins instead of fiat currencies adds an extra layer of excitement and unpredictability to the whole thing, which is something particular groups of players should enjoy.
Taking Back the Control
An outcry against increased government control and too much insight into one's personal spending habits has been present for quite some time now. This is particularly true for certain parts of the world, where official bodies keep close tabs on their people and gather information about pretty much every aspect of their personal and professional lives, especially in terms of finances.
The year 2018 could be the one where we'll see a proper push-back and bitcoin online casinos serve as a perfect venue for this idea. Offering anonymity and a way to play and win without anyone having an insight into those winnings is certainly appealing.
Additionally, bitcoins offer a way to bypass government blocks such as those in force in the USA. Bitcoin casinos have been catering to US citizens for a few years now, but with the crypto now being stronger than ever and truly becoming mainstream, there will be a big increase in the number of people willing to give it a go.
Conversely, this will influence the number of bitcoin casinos in 2018. If there is a big market to tackle, there will be quite a few of those wanting to roll the dice and try their luck. With the regulation unlikely to happen soon, the next year could present some interesting opportunities for crypto-gambling.
No More Fairness Concerns
Bitcoins and the underlying blockchain technology have opened doors for a different approach to online gambling and this approach is likely to be heavily explored in 2018. Namely, so far, people have always been concerned about the fairness and randomness of various casino games.
Looking at it from outside, these are legitimate concerns, because the only guarantee players have about the fairness comes from certain independent organizations like eCogra or iTech Labs. Although these are reputable organizations, someone outside of the industry can always wonder if these are actually legitimate or if it is all a big money-making machine working together.
Leaving conspiracy theories aside, blockchain technology provides a way for players to see results of every single game, be it a spin of slot reels or a hand of electronic blackjack. The randomization process is on the display for everyone to see, giving the general public very reassurances they require.
Will Bitcoin Casinos Become Predominant in 2018?
All the indicators right now point out that bitcoin gambling could be a big thing in 2018. However, it probably won't happen to an extent where traditional online casinos will be pushed out of the market.
There is still a large player base that prefers using fiat currencies and feels more comfortable doing so. Bitcoin is a modern concept and an idea that tickles the imagination, but many people will rather play it safe than sorry. For these reasons, a more traditional way of gambling online will still be preferred by a majority.
However, 2018 bitcoin casinos will offer a good alternative for those looking for a change of pace and some of them will enable players from restricted territories to join the fun. Hence, traditional and bitcoin casinos will exist in a symbiosis of sorts, with the latter further establishing their reputation and trust with the players.
Challenges to Face
With all this being said, there are quite a few challenges bitcoin casinos will still need to address in 2018 if this branch of industry is to thrive and succeed. Bitcoin is very peculiar at this point in time and there are things that could take the whole idea sideways.
The first, most obvious one, is the value of this crypto-currency. Bitcoin has surpassed all expectations but it needs to achieve a certain degree of stability if big gaming operations are to accept it on a large scale. Right now, despite the current positive trend, it might be a gamble that not even casinos are willing to take.
Furthermore, there are processing times and fees, both of which don't do well when compared with more traditional methods. There are constant developments in this particular field, so we might see some big breakthroughs in 2018, which would certainly increase the appeal of the bitcoin gambling idea.
Conclusion: An Interesting Year Ahead
The future certainly looks bright for bitcoin casinos and crypto-currency gambling. Trends from the past year are likely to continue and improve in 2018, with more bitcoin casinos opening their doors and more players willing to roll the crypto dice.
However, there are still some challenges that need to be addressed before things start happening on a large scale, primarily having to do with the stability of bitcoin and processing times and fees. These external factors could play the crucial role in what 2018 holds in store for bitcoin casinos.