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Bitcoin and the Gambling Market

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Page 1: Bitcoin and the Gambling Market
Page 2: Bitcoin and the Gambling Market

E

ven before the existence of Bitcoin, the Internet remains to be the one of

the most celebrated achievements of humanity. This radical development

of mankind has functioned as a channel for society to communicate,

transact, and conduct actions in various methods that are beyond

everyone’s expectations. Ultimately through the Internet, society was

introduced to a new perspective for when it comes to communications.

Notwithstanding the rally of the Internet, things started to get stagnant up until

2009—the date when Bitcoin was unveiled to the public via the Internet.

Considering that people are ardent users of the cyberspace, the news about the

introduction of the cryptocurrency eventually circulated on a rapid scale.

Unfortunately, though, in spite of showcasing a good sign for publicity, society at

that time were still skeptical about this new currency.

One thing that contributed to this overall perspective toward Bitcoin was the overall

nature of the Internet.

Given that the Internet has become a lounge for cyber criminals to dwell in during

the time of the cryptocurrency’s introduction, users cannot help but be wary about

affiliating themselves with the latest product of technology.

Not to mention, Bitcoin’s creator, Satoshi Nakamoto, remained to be an anonymous

individual even after the unveiling of his newly developed currency. This made the

majority of Internet spectators to give Bitcoin the benefit of the doubt that it was

just another scam.

Luckily, people did not close their doors and still gave Bitcoin’s promise of

conventional market revolution a chance to be fulfilled.

Thus, together with Bitcoin’s reveal, society was given the idea that this digital

money holds the exact same purchasing and transaction power that conventional

money has—only that it has an abundance of exceptional benefits that are yet to be

introduced to society.

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C

BITCOIN—SECURITY AND EXCELLENT REMITTANCES

GUARANTEED

ompared to traditional payments, Bitcoin enabled users to conduct

transactions with complete control over their currency. This means

that Bitcoin-powered transactions are no longer required to be third-party mediator such as banks and the

processed by a government, which in practice takes too much wasted effort and time.

That being said, users of Bitcoin are able to enjoy swift and precise

remittances without any conflicts and hassles.

Subsequent to the absence of third-party mediators, Transactions done with Bitcoin

are processed between the sender and the recipient only.

In essence, the people involved in a transfer no longer need to wait for their money

to receive clearances from banks or money senders just to send their money to the

receiver, which is extremely unlikely in the conventional transaction landscape. This

made Bitcoin transactions easier and faster compared to its customary counterpart.

On another note, for years, people have been tormented by the idea that their

identities are no longer secured the moment they used their credit cards or any

online financial services to purchase something on the Internet.

This worry is common, though, since the majority of deceitful acts and scams now

happen within the cyberspace. Good thing through Bitcoin, users no longer need to

provide sensitive information just to complete a transaction. Their identities remain

anonymous for as long as Bitcoin is the mode of payment being used.

Moving on to another noteworthy feature of Bitcoin is the fact that it operates in a

trailblazing network called the blockchain. This network functions as a receipt for

every successful Bitcoin transaction.

What’s great about the blockchain is that every transaction data is collated,

published on the network, and is viewable by everyone. This means, Bitcoin users

are now able to authenticate and reevaluate the transactions that have taken place

via on real-time.

Given these avant-garde features, Bitcoin instantly extended the support of people

who are considering a major overhaul on today’s transaction flow. What makes this

approach astounding is that Bitcoin is not limited to the mainstream market since it

was also positively welcomed in the online gambling industry. Thus, the Bitcoin

gambling industry came to light.

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G

HOW BITCOIN CHANGED ONLINE GAMBLING FOR THE

BETTER

iven that the gambling world evolves through time, the payment

methods that are available in this niche have progressed as well.

Unfortunately, though, Orthodox payment practices such as using real-

money currencies have displayed pronounced flaws through the course

of time, especially in the online gambling industry. Therefore, the

introduction of Bitcoin as another alternative payment system has

innovated the way online gambling platforms perform their

transactions for the better.

Through the advantages of the cryptocurrency technology, online bettors are given

the opportunity to enjoy gambling while having online anonymity, a safer network,

provable fair systems, and faster processing of deposits and payouts.

Of course, this eventually fired up the rally of the growth of various platforms of

Bitcoin casino. This grandiose department in the online gambling niche has easily

grasped the attention of both seasoned and greenhorn bettors.

Other than the advantages of Bitcoin as a payment system, Bitcoin-powered games

were established in order to precisely cater to the Bitcoin gambling market.

These popular Bitcoin casino games continue to provide players with a one-of-a-

kind opportunity to multiply their bankroll through the entertainments brought by

online gambling.

Page 5: Bitcoin and the Gambling Market

WHICH IS WHICH? VARIOUS KINDS OF BITCOIN CASINO

GAMES

Bitcoin slots

Perhaps Bitcoin slot games are the most renowned gambling games on both the

real-money and Bitcoin casino markets. Bitcoin slots are usually available on every

land-based and online casino, making it the poster game of the entire gambling

industry.

In this game, bettors place their wagers and press the machine’s command buttons

to make the slot reels spin. Slot machine prizes are rewarded if players hit a

specific combination of the symbols on the reels. What makes slot games interesting is that they greatly rely on random number

generators. Thus, players are given no opening to predict the outcome of the spin

which means players can never predict the outcome of a spin.

Ultimately, Bitcoin slots are designed to display different kinds of themes in order to

maintain its interesting aura among its patrons. That being said, players are given

almost a wide range of uniquely designed Bitcoin slot games that are interesting in

their own ways.

Bitcoin roulette

Another world-renowned gambling game, roulette is a game that is guaranteed to

deliver bettors with a thousand thrills. Similar to slots, it is one of the most

recognizable games found on any gambling hubs, be it on land-based or online

casinos.

Due to its immense popularity, roulette has eventually influenced the Bitcoin casino

market to establish its own version of roulette. Thus, Bitcoin roulette has come to

light.

In Bitcoin roulette, bettors are given the option to place bets on colors, various

numbers, or on a specific digit or whether the number is odd or even—anything

goes.

Although there is a lot happening in this game, determining the victor only takes a

simple gesture. A ball is placed on a spinning wheel which contains all the numbers

Page 6: Bitcoin and the Gambling Market

and the colors that appear on the roulette table. When the spinning comes to a

halt, the ball will of course, land on a specific number that has also its specific color.

If the player’s bet matches the results, rewards are guaranteed to be distributed.

Since Bitcoin roulette utilizes the advance technology of the cryptocurrency, bettors

can expect swift, secure, and legitimate winning payouts in this game.

Bitcoin card games

In reality, there are dozens of Bitcoin-based card games in existence today.

However, this specific gaming category is typically affiliated or referred to world-

famous card games such as blackjack, baccarat, and poker—all of which are tagged

with the fame status even before the introduction of the cryptocurrency.

Poker is arguably one of the most venerated card games of today. This game is

structured to rely on wits instead of luck, making it one of the most breathtaking

games in the gambling market.

Among other gambling games, poker is the only card game that gives winning

opportunities even to players who have a losing hand—bad card combination.

Because of its innovative structure, Bitcoin-powered casinos have definitely

integrated this game into its catalog of Bitcoin gambling games.

Meanwhile, Bitcoin baccarat involves players who have two or three cards on their

hands. This game’s mechanics is essentially a comparing card game between the

players and the dealer. The main idea of this game is that those who’s overall card

value has the closest digit to the number nine will be determined as the winner.

Finally, Bitcoin blackjack is a straightforward card game that is similar to that of

baccarat—only that players must make sure that their card combination must

match or not go beyond the designated victory number 21. This Bitcoin card game

is also known and is widely available on both real-money and Bitcoin casinos.

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Bitcoin Gambling Guide

http://www.bitcoingg.com/