November 1, 2020

Two Major Types of Cryptocurrency Gambling Sites

Online gambling platforms, which mainly offers online casino games and sports betting, have increasingly become a go-to for many players and punters. Apart from the convenience it offers, these platforms also provide real money games allowing players to paly for and potentially win some money.

다파벳, for instance, offers various real money casino games and a range of sports betting options which many of its members very much enjoy. It is based in the Philippines and is AsianBGE’s flagship as well as a subsidiary. It operates legally as it is licensed and regulated by the CEZA or Cagayan Economic Zone Authority as well as by the First Cagayan Leisure and Resorts Corporation. Hence, players could safely play for real-money.

While most online gambling platforms offer real money games, some platforms have incorporated the use of digital currencies to widen its market. As per a study by CryptoGamblingNews.com, cryptocurrencies that were created purposely for online gambling or the gambling sector have a collective value of over 150 million US dollars. And this is expected to increase in the following years as digital currencies which are designed for the gambling sector are more and more becoming appealing to many traders.

In a research by CryptoGamblingNews.com, it was discovered that blockchain casinos were visited by over 30,000 players every week. Because of this, increasingly more online casino platforms incorporate cryptocurrencies as another payment mode. This has allowed more people to engage in the gambling industry.

Major Types of Cryptocurrency Gambling Sites

As a player, before engaging in online casinos that accept cryptocurrencies, you first have to identify the kind of site or platform that will fit your wants, needs as well as your priorities. In doing so, you have to know the two major types of crypto gambling sites as well as their ins and outs as your wants, needs and priorities would determine which platform is ideal for you.

Cryptocurrency-Only Gambling Site

As the term implies, cryptocurrency-only gambling platforms only accept cryptocurrencies. This means that real money or fiat currencies aren’t accepted or honored in the platform. All deposits and payouts are in cryptocurrencies.

Cryptocurrency-only gambling platforms are relatively new in the online gambling industry. Hence, they are don’t have an established track record to prove their credibility and reliability.

The biggest concern with cryptocurrency-only gambling platforms is that it could be gone anytime. As cryptocurrencies are known for its volatility but still increase in popularity, the site or platform would have to be equipped and very much ready to manage high traffic volumes as well as be able to afford payouts, not to mention be able to handle and account for the fluctuations in value and price.

Remember, most cryptocurrency-only gambling sites don’t have an established history. If you do want to engage, it is imperative that you are ready and willing to make an in-depth research as well as double-check the platform/s to make certain your digital assets and your personal information are safe and protected.

Established Gambling Sites with Cryptocurrency as an Option

With established online gambling platforms that accept cryptocurrency as an option for deposit and payout, you will be able to confirm their reliability, credibility and stability by checking their track record or history for the previous months or years.

While they do accept cryptocurrencies, they only deal with a limited type of these digital currencies, unlike crypto-only gambling platforms. Similar to crypto-only gambling sites, you will have to research on which types of cryptos they accept. While there isn’t any guarantee that these sites would experience an overload, a crash or a bust, you at least have some added assurance that such incidents are smaller compared to crypto-only. Hence, this option is a safer choice.