Undoubtedly, Bitcoin rests on top of a pyramid of thousands of digital currencies which swarmed the internet in the past thirteen years. It has attained this position by pioneering blockchain tech, trailblazing this sector, bringing it to its current heights, holding a 41.22% market dominance. Bitcoin debuted in 2009, and only two years later, it sprung up as a deposit method at gambling sites featuring provably fair gaming products.
Today, Bitcoin casinos are all the rage, and cryptocurrencies are transaction options at most top-end sites offering interactive gambling. They are a payment pick that co-exists with fiat choices at branded platforms, or they are the stand-alone option at crypto-exclusive casinos.
Since virtually all publically-traded operators aim to cater to players on both sides of the aisle, crypto, and fiat, it is impossible to tell how much money these entities generate from crypto-gambling alone. Moreover, given that predominantly private companies run most established crypto-only hubs, operating from small countries with lax gaming/regulation, there is no way to gauge how much revenues they are raking in regularly. In the past, some sources have claimed that a developed crypto-gaming brand can generate around $10,000 in profits per day. However, that information is hard to confirm without any insider company data.
Nevertheless, Pune-based research firm, Fortune Business Insights, claims that the online gambling sector will begin pulling in yearly revenues of $158 billion in the next six years. And it credits blockchain technology as one of this sphere’s chief drivers, morphing the way it functions.
That is occurring despite various markets like New York allowing several types of internet betting but not permitting their residents to lay down cryptocurrency wagers. Thus, at this time, it seems like investing in crypto gaming/betting is a pretty decent venture to embark on, even in the face of looming regulation connected to coin-based transfers.
Which Bitcoin Casinos Are on the Stock Exchange?
Bitcoin casino stocks are a rarity, They can barely get found at famous exchanges.
It is crucial to understand that online casino gambling is not yet widely regulated in the US. Only six states permit this pastime. New Jersey, Pennsylvania, West Virginia, Michigan, Delaware, and Connecticut. Residents of other US territories must use offshore sites to place bets over the internet on casino games of chance.
Also, there is no federal regulation of cryptocurrencies in the US. So, the market is not very crypto casino friendly. Most online operators are divisions of reputable land-based ones based in predominantly Nevada or New Jersey, with a few notable exceptions. For example, one of the most popular US mobile casinos is DraftKings, formerly a fantasy sports-only operator with headquarters in Boston, whose stocks trade on NASDAQ, and does not accept cryptos for bets.
Therefore, the best Bitcoin casino gambling stocks to buy are available at non-US exchanges. Even most UK and Swedish online gambling operators that have gone public do not accept Bitcoin deposits yet. That is so despite their regulators allowing this. In 2016, UKGC made cryptocurrencies a fiat money equivalent. Though, no famous UK gambling operators allow digital currencies for internet wagering of any kind. Even though many foreign online casinos that accept UK players, which do everything to keep Brits safe when gaming, do, in fact, allow Bitcoin and altcoin transactions.
Stock options when it comes to Bitcoin casinos are super limited right now. Usually, the main choices can get found on the Dutch Caribbean Securities Exchange and are not recommended by most industry analysts as they are new to the industry, unproven.
The Genting Group is a brand headquartered in Kuala Lumpur, Malaysia, whose shares trade on the Bursa Malaysia, the Malaysian stock exchange. It operates online casinos and has dabbled in digital currency acceptance at land-based and virtual venues.
What Is the Biggest Bitcoin Gain to Date?
The main disadvantage of using Bitcoin at a gambling site is this cryptocurrency’s price volatility. When it got introduced in 2009, it had a price of zero that jumped to $0.09 in July 2010. From April 2011 to June of that year, the value of one BTC rose by 2,960%, but then it bottomed up at $2 in mid-November 2011.
Another mega-surge occurred in 2017 when its price soared from hovering in the $2,000-range in May to hitting above $19,000 in December.
In mid-April 2021, Bitcoin traded at over $60,000 on Coinbase. Unfortunately, by the summer of 2021, its price got slashed by 50% to less than $29,795 per BTC. In November 2021, it hit an all-time high of almost $69,000 before a month later falling to $49,000.
The main factor that affects the price of Bitcoin is supply and demand. The cost of producing a bitcoin via the mining process, the number of competing cryptos, and the rewards issued to Bitcoin miners for verifying transactions also play a role.
Gamblers can keep their identity a secret if they gamble with Bitcoin.
What Are the Advantages of Betting With Bitcoin?
Bitcoin gambling’s main pros are advanced security, fast payment processing, low fees, and access to crypto-centric promotions. The latter includes the standard deposit match bonus that is the industry standard. But, as a rule of thumb is more generous when involving cryptocurrency deposits.
On top of these welcome and reload deals, crypto gamblers also access unique promo tools like chat rain, free faucets, and more. Though, these are primarily only available on crypto-exclusive platforms. No deposit casino bonuses may also be on hand at a cryptocurrency casino.
Know that, on average, a Bitcoin transfer should go through in a few minutes (five to ten), which is lightning fast compared to popular fiat methods like credit/debit cards, which incur wait times of up to five banking days.
It is also worth noting that playing at online casinos regulated by a Curacao licensing entity can allow players to keep their anonymity when betting over the World Wide Web if the site in question foregoes the standard KYC procedures.
How to Calculate Expected Bitcoin Return?
It’s fairly easy to calculate bitcoin’s ROI — you can use this formula:
- ROI = current price = average price / total costs
- Excel: ROI = (P20-P18 / P18)
Do Any Sports Books & Casinos Accept Large Bets Via Bitcoin?
Yes, they do. The best ones going by the opinion of many veteran online gamblers are:
- Spin Casino – Founded in 2001, Spin Casino is one of the oldest Microgaming-powered gambling sites. It boasts a slick user interface, a modern design, and super-fast payouts. The long-standing reputation of this platform is what makes it an ideal pick for players of all experience levels.
- BetOnline – BetOnline is predominantly a sportsbook that appeared online in 2004. It is a global brand supplying a wide range of casino games, live dealer tables, and virtual poker machines.
- Sports Betting – SportsBetting.ag is another seasoned sector player, active since 2003. It accepts gamblers from more than twenty countries around the globe, plus New Jersey. What many of its users love most about this platform is its poker section, which is terrific, providing loads of variety.
Leading Bitcoin Bonuses
Casino promotions are the backbone of the interactive gaming sphere, and Bitcoin casinos do not stray away from this mantra, as they too look to supply a stunning line-up of promo deals.
What follows is a quick rundown of the best Bitcoin casino welcome bonuses around, provided by the best crypto gambling sites mentioned above:
- Bovada – Those who want to bet on sports with crypto will be more than happy with Bovada’s deposit options, bonuses, and of course, their variety of lines to bet on. Crypto punters can receive a 75% match bonus up to $750 to bet on sports.
- BetOnline – BetOnline is more generous upon registration than Spin Casino, as it likes to reward new users with three deposit matches of 100% up to $1,000 each. The promo code required for this bonus is BOLCASINO, and it comes with a 40x wagering requirement.
- SportsBetting – The SportsBetting.ag platform supplies a one-time, 100% match casino bonus of up to $1,000. Note this offer is only available for North American players who use the bonus code 100CRYPTO when fueling their SportsBetting.ag account using cryptos.
What Is Fiat Currency?
Fiat money is a currency whose value gets guaranteed by a country’s government.
It is a government-issued form of money that does not get backed by a physical commodity like silver or gold. Instead, the issuing government vouches for it, and its supply/demand gets linked with the stability of the said government.
Popular fiat currencies are the US dollar, the Euro, and the British Pound. These give central banks more control over their country’s economies because they can regulate how much money they print. However, creating too much can result in hyperinflation.
Most cryptocurrencies have a limited supply, and the policies used to govern their ledgers get determined by autonomous decentralized organizations. Hence, coin-holders decide how their coin’s blockchain will get run. It is aspects like these that cause many to believe that this technology will re-shape the casino industry in the years to come.
