Crypto vs Traditional Casinos: What Makes Them Different?
One of the most interesting inventions in the 20th century is cryptocurrency. While it’s too early to say if it’s truly a revolutionary thing or just a fad, crypto has already brought many changes to our digital lives. One of them is the crypto casino.
At first sight, crypto casinos are a lot like traditional online casinos. If you download Betway and a crypto casino app, their main functions and even their looks will be the same. But if you look at them more closely, you’ll see that there are quite a few major differences between the two.
Payment methods
The payment method is the most obvious difference between a traditional and a crypto casino. While traditional casinos embrace several money transfer methods, from e-wallets and finance apps to bank transfers and debit cards, crypto casinos are built around the blockchain.
This doesn’t only mean that they have the potential for the utmost transparency but also that they support payments in cryptocurrency. This makes transactions cheaper, faster, and available 24/7, without the players worrying about transaction fees and exchange rates.
Game providers
Originally, crypto casinos had home-grown casino games or titles provided by a limited number of dedicated developers. This made crypto casinos inferior to classic outlets: they only had a couple of hundreds of games as opposed to the thousands upon thousands of titles in traditional online casinos.
Things have changed, though, for the better in the last few years. Several traditional casino software providers, including Evolution and Pragmatic Play, now build games that support cryptocurrency. This means that crypto casinos now offer almost the same variety of games as their traditional counterparts.
Today’s leading crypto casino platforms offer access to games from a wide variety of providers, giving players a choice of more than 15,000 individual games. They cover everything from the sleeper hit Aviator to live dealer games operated by the leading providers in the industry.
Licenses
This is where the difference between traditional online and crypto casinos becomes the most obvious: licensing and regulation. Governments are hopelessly behind the tech world in many areas, and cryptocurrency is one of them. The usage of the currency itself is still insufficiently regulated, let alone crypto-based gambling. This means that most crypto casinos operate in a legal grey zone.
Most licensed crypto casinos have obtained the permit to operate online from the regulator in Curacao. Some also have a license from the gambling authorities of Montenegro and Panama. None of them are licensed in Malta, Gibraltar or any other European Union member state.
Today, crypto casinos offer almost the same experience as their traditional counterparts – with a few major differences. Obviously, they support a different set of payment methods. But they also have different sets of games, some of which are not available at traditional casinos. And they are no longer the shady gaming outlets they once were.
With a solid foundation in technology, backed by a BIT degree, Lucas Noah has carved a niche for himself in the world of content creation and digital storytelling. Currently lending his expertise to Creative Outrank LLC and Oceana Express LLC, Lucas has become a... Read more