The wave of cryptocurrencies has swept across many countries in the world today. This new currency is now acceptable in various shopping stores, both offline and online. Several reasons have contributed to the widespread of cryptocurrencies such as security, anonymity, timely transactions, and more.
Thanks to blockchain technology as well as cryptography, that enables users to enjoy valid and secure transactions. As you expect, countries have different approaches to crypto gambling and betting. The efficiency of cryptocurrencies has made it to be adopted by several reputable casinos and sportsbooks in the iGaming industry.
Read a detailed article to find out reasons for its popularity and countries where crypto gambling transactions are popular.
Countries Where Crypto Gambling Transactions are Popular
As aforementioned at Coindoo, crypto gambling has spread across many countries in the world. However, the way the digital currency is handled vary between countries. Here are some of the countries where crypto gambling transactions are popular today:
The current gambling laws in the United States don’t clearly stipulate that betting using Bitcoins and other cryptocurrencies is illegal. While some states accept this modern form of gambling, others don’t want to be involved at all. Some of the states in the US where Bitcoins and other cryptocurrencies are accepted include Texas, Kansas, Montana, and Tennesse.
There are plenty of offshore online casinos, bookies, and even no Gamstop site available for UK-based punters and self-excluded players. The best thing is they accept Bitcoins and other types of cryptocurrencies. With this, you’re guaranteed maximum security and decent odds.
Japan has been one of the gambling destinations in the world for quite a while. They are preferred to others because they give more privacy as well as lower transaction times and costs. However, the Japanese House of Representatives passed a new crypto asset regulation that affects exchanges and custodians.
The use of crypto coins by Canadians in online gambling has become very popular today. The reason behind the popularity of crypto gambling in Canada is because there is no third party to track the payments that you make.
There are many online casinos that accept customers to transact via cryptocurrencies. These casinos and betting sites offer a wide range of products that are most land-based gambling venues don’t have. With the cryptocurrencies, you can bet on different games, including blackjack, roulette, pokies, and live casino games.
Reasons for Popularity
There are many reasons why crypto gambling has become very popular over a short time. The obvious one is because there are different types of digital currencies like Bitcoin, Ripple, Litecoin, Ethereum, and others. Some of the reasons include:
- Crypto Gambling Transactions are Faster. Unlike the traditional currencies that have intermediaries who slow down the process, crypto transactions are direct, which creates fewer delays in the system. There is no need of going through the Know Your Customer process.
- Crypto Gambling Transactions are Cheaper. Bitcoin transactions are cheap compared to Fiat. The intermediaries involved in the traditional payment process add extra expenses in the betting or gambling site. They charge the customer on every transaction or monthly. Avoiding all these intermediaries creates room for cheaper transactions.
- Crypto Gambling Sites are Trustworthy. Regardless, you’re playing lottery tickets, betting on sports, rolling dice, or just testing your skills with poker, you must use a trustworthy platform. Crypto-based decentralized gambling sites have their random number generator (RNG) software based on blockchain metrics.
- Crypto Gambling Sites Have Better Bonuses. Many crypto online casinos and bookmakers use different bonuses and promotional offers to boost the customers’ bankrolls. What makes them more attractive is the size and friendly terms and conditions that are attached to them.