Cryptocurrency and specifically Bitcoin gambling has come a long way since its inception. Early tepidity has translated into an electrifying surge across the digital realms. With hundreds of online gambling platforms offering services across a myriad of age-old table games such as poker, roulette, and blackjack, as well as newer version of slots and sports betting, the evolution of bitcoin gambling shows that it is not just a fleeting trend but rather an enduring technological revolution. But how are these Bitcoin gambling sites keeping up with the fast-paced changes in technology, regulations, and customer preferences? The answer lies in their strategic commitment to future-proofing.
Crypto-gambling was born out of an ingenious marriage between the gritty, thrill-driven world of online gambling and the novel, elusive concept of cryptocurrencies. Disruptive by design and with Bitcoin at its helm, these platforms turned to blockchain – a decentralized, peer-to-peer network – as their backbone. The blockchain foundation isn’t just a tech hype; it is boast-worthy for its inherent characteristics that solve prevailing issues in the online betting industry such as payment processing times, data privacy, security issues, and pricey transaction fees.
However, the landscape is evolving fast and intensely. Governments across the globe are wrestling over regulations, hackers are becoming increasingly sophisticated, and customers’ increasing comfort with cryptocurrencies demand more features and improved UX/UI. In view of this, Bitcoin gambling sites that want to stay ahead of the curve have adopted future-proof strategies.
One of these strategies is implementing provably fair algorithms. With provably fair, a cryptographic algorithm generates an unpredictable result before a game commences and shares it with the player. As per ADALABS, provably fair gaming ensures that the game is just and verifiable, reinforcing the trust relationship between a player and the casino. Provably fair gaming has since become a litmus test for credibility among crypto casinos.
Investing in secure technology is another part of the future-proof strategy. Bitcoin casinos are putting stringent measures to counter cyber threats. Hashing functions, two-factor authentication, and SSL encryption are becoming par for the course. Companies like BitStarz have been recognized and awarded by AskGamblers as the Best Casino of 2017 for their efforts on security measures.
The integration of AI and machine learning into Bitcoin Casinos is also catching speed. These technologies have equipped bitcoin casinos with the ability to provide personalized services to players while optimizing the gaming experience. This includes customizing promotions and bonuses based on player preferences or gaming patterns, as well as predictive analytics that warn a player when they are about to cross their gambling limits.
Additionally, the adoption of more cryptocurrencies has proven another way of future-proofing. Though Bitcoin still dominates, a diversity in cryptocurrencies means a wider reach of players. Sites like FortuneJack have noted an increase in customers since introducing more cryptocurrency options like Ethereum, Litecoin, DogeCoin, and Monero, offering players more flexibility and control over their gaming finances.
Furthermore, Bitcoin gambling sites are investing in social features like live chats, multiplayer games, and leaderboards to create a more immersive and interactive experience, mirroring the benefits of traditional in-person betting venues. The move has resulted in better player retention and increased participation.
The world of Bitcoin gambling is ever-evolving, dictated by a plethora of internal and external factors. But as it stands, a keen eye for future trends, a never-ending pursuit of technological implementation, and an unwavering commitment to player satisfaction seem the only foolproof ways to stay ahead of the curve. As of now, Bitcoin casinos are doing just that, and the future looks more than just promising- it looks downright exciting.
Sources:
1. ADALABS (2021). Provably Fair: What it means and why it matters. Accessed on November 3, 2021.
2. AskGamblers (2017). Best New Casinos of 2017. Accessed on November 3, 2021.
3. FortuneJack (2021). About Us. Accessed on November 3, 2021.
4. BitStarz (2021). About Us. Accessed on November 3, 2021.
