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Understanding The Role of Cryptocurrency in the Gambling Industry

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With billions of dollars wagered each year, the online gambling business is one of the largest in the world. The gambling industry is always being redesigned and redefined. The majority of them are the product of technological advancements and the requirement to cater to various types of players. Because they seek to fulfil the new demands of the ever-changing online gaming business, many gambling platforms embrace technical breakthroughs and the latest trends.

Many industries are always wary of accepting new developments too quickly because they are unsure of their long-term consequences. Others are waiting to see how they will impact industries that are quick to accept them. Yes, The fear of risk!

Players face legal constraints, as well as fraud and cheating by other players and shady operators, and must rely on third parties to verify that games and monetary transactions are fair. Consumers and operators will pay more for online gambling as a result of these procedures, checks, and balances, which will limit their options. Betfury.io, A Bitcoin Casino has  been introduced as a platform with crypto solutions based on blockchain. We will see below how betfury is taking advantage of cryptocurrency.

What is Blockchain?

Blockchain technology is a cutting-edge framework that has the potential to redefine transactions and change the way we connect and do business. Blockchain, the technology that underpins cryptocurrencies like bitcoin, allows for the recording of transactions in a secure, protected ledger using a distributed, networked database structure safeguarded by hashing power. This enables transactions to take place without the use of an intermediary that are permanent, unchangeable, anonymous but transparent, and ‘trustless’ – that is, transactions that take place without the potential of interference.

Now, you must be well aware of cryptocurrency, as it’s a hot topic these and it’s all blockchain. Also, you are in luck today if you are a gambler who is also interested in cryptocurrencies.

Role Of Cryptocurrency in the Gambling World

Cryptocurrency is a digital currency with strong cryptographic security. It exists only in a virtual sense, which means it is intangible. Cryptocurrency is decentralized since it is based on blockchain technology. It makes use of blockchain technology to give the best digital banking services.

For players, operators, and regulators, we explain how blockchain technology and cryptocurrencies are revolutionizing the gaming business. Betfury.io is making a huge difference from the traditional casinos by integrating the crypto world.

Bitcoin and online gaming offer a safe, secure, rapid, and comfortable environment for transactions. Because of these factors, online casinos and gambling sites have grown in popularity.

Main benefits that cryptocurrencies can transform the industry includes:

  1. Instant transactions: Cryptocurrencies can make the transactions happen quickly (near-instantaneously), including automatic and prompt withdrawals and/or deposits.
  2. Non-reversible Transactions (no chargebacks)
  3. Low overhead fees (no deposit or withdrawal fees): allowing bitcoin casinos to have a very low house edge.
  4. Players Anonymity: can maintain their anonymity, allowing them to circumvent rules (for example, betting in locations where gambling is illegal).
  5. Nothing to handle (e.g. accounts)

Enhanced Safety

Because blockchain technology is one of the safest ways of performing transactions online, you can do all of your transactions and even share your confidential info with crypto without danger of them being leaked.

Furthermore, with blockchain technology, it is impossible to tamper with your transactions. Many gamblers prefer to bet in privacy, and using any sort of cryptocurrency allows them to make anonymous deposits.

Better Credibility

Players can benefit from safe deposits and withdrawals, quick transactions, and a more immersive gaming experience when they use cryptocurrency.

It’s no surprise that a slew of crypto casinos and sports betting sites have popped up to take the place of operators who still use fiat currencies and regular banking methods.

Increased Bonuses & Promotions

Because crypto transactions are end-to-end, they are less expensive to process. There are no middlemen involved in sending or receiving crypto currencies. This is why online casinos that take cryptocurrencies provide their customers with some of the best incentives and promotions. For both the operators and the gamblers, this is a win-win situation.

The incentives are better since they have player-friendly terms and conditions, such as wagering requirements that are simple to meet. This means that if you win with your bonus, you can easily convert your free credits into real money, which you may withdraw or spend to continue playing.

House Edge

If you’ve ever visited a brick-and-mortar casino, you’re familiar with this term. Here, the winner must pay the casino owner an average amount. As a result, the winner is frequently required to give the casino owner a significant portion of their winnings. This difficulty is remedied by the use of cryptocurrencies, as the winning money is directly credited to the winner’s account. Notable development – The blockchain application in gambling is not only a fad; rather, there has been significant progress in this industry.

Final Thoughts

Online casinos and cryptocurrency are two technological innovations that have been put together for better outcomes. Crypto casinos and betting sites provide a plethora of advantages. Players will benefit from a safer gambling environment, better bonuses and promotions, faster withdrawals, and instant deposits as a result of this.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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7-Eleven selects Jackpot.com as their official lottery partner

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Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.

Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts  

Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.

As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.

“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”

By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.

Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.

To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.

 

The post 7-Eleven selects Jackpot.com as their official lottery partner appeared first on European Gaming Industry News.

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The World Esports Summit 2024 Is Here!

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The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.

This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the

Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.

The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:

  • (R)Evolution in Esports
  • East Meets West
  • Esports Integrity: The Role of Referees
  • The Rise of International Esports Competitions
  • (In Korean) Korea’s Secret Sauce etc.

Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.

These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.

Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.

Registration for the World Esports Summit is free and open to all interested attendees.

To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration

See you in Busan!

 

The post The World Esports Summit 2024 Is Here! appeared first on European Gaming Industry News.

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Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference

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Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience.

As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.

Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.

Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC  key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .

“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are  committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.” 

Looking ahead to ICE Barcelona, Akhil Sarin stated:  “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”

He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”

The post Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference appeared first on European Gaming Industry News.

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