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Betting on Crypto: How Crypto Casinos are Driving Mainstream Adoption

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Author: Scott Major, CCO, Transact365

In the digital age, two revolutionary trends are converging to reshape the landscape of financial entertainment: cryptocurrencies and online gambling. At the forefront of this intersection are crypto casinos, innovative platforms that are not only leveraging blockchain technology but also driving the widespread adoption of digital currencies.

By integrating digital assets into an engaging and familiar activity like gambling, crypto casinos are introducing a wider audience to the practical uses of blockchain technology. Conversely, the growing popularity of cryptocurrencies is attracting more users to online gambling platforms, expanding the reach of such platforms to tech-savvy individuals who prioritise privacy and decentralisation.

Crypto Casinos: Pioneering Adoption

Crypto casinos represent a new frontier in the gambling industry, leveraging blockchain technology to offer players a secure, transparent, and decentralised gaming experience. By accepting cryptocurrencies like Bitcoin, Ethereum, and others, these platforms provide users with unparalleled privacy, faster transactions, and lower fees compared to traditional fiat currency casinos. This alignment with the ethos of decentralisation and financial sovereignty inherent in cryptocurrencies has attracted a growing number of tech-savvy users and early adopters to the world of online gambling.

Moreover, crypto casinos are not just leveraging cryptocurrencies; they are actively promoting their adoption. In fact, crypto casinos are expected to become more mainstream by the end of 2024.  Players who may have been previously unfamiliar with digital assets are now acquiring and using them for entertainment purposes, thereby integrating cryptocurrencies into their everyday lives. This increased exposure to cryptocurrencies through gambling fosters a deeper understanding and acceptance for their utility and benefits beyond the gaming sphere. Therefore, as cryptocurrencies gain wider acceptance, more traditional gamblers are likely to explore crypto gambling options. This trend could expand the market share of crypto casinos within the overall online gambling industry.

The Ripple Effect: Cryptocurrencies and Online Gambling

Cryptocurrencies are also revolutionising the online gambling industry by addressing long-standing challenges related to payment processing. One of the critical barriers for traditional online casinos has been the inefficiency for certain underbanked sectors and at times costliness of payment solutions –  exacerbated by stringent regulations and geographical limitations. Cryptocurrencies circumvent these hurdles by offering a decentralised payment method that operates across borders with minimal fees and swift transaction times.

An efficient payment solution is paramount to maximising the synergy between cryptocurrencies and online gambling. Crypto casinos have capitalised on blockchain technology’s ability to facilitate instant and secure transactions, ensuring seamless deposits and withdrawals for players worldwide. This efficiency not only enhances the user experience but also expands market reach by attracting players from regions where traditional banking systems may be unreliable or inaccessible.

Harnessing Efficiency for Growth

By streamlining financial transactions through blockchain technology, crypto casinos are able to offer competitive advantages that resonate with today’s digital-first consumers. This includes faster payouts, reduced transaction fees, and heightened security measures that inspire trust and confidence among players.

The rise of crypto casinos is not merely a trend but a transformative force that is propelling the adoption of cryptocurrencies and reshaping the online gambling industry. By embracing blockchain technology and user-friendly crypto and local payment solutions, these platforms are fostering a symbiotic relationship that not only benefits both industries but most importantly the customers alike.

The post Betting on Crypto: How Crypto Casinos are Driving Mainstream Adoption appeared first on European Gaming Industry News.

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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Gaming Americas Weekly Roundup – November 18-24

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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Two of Alabama’s leaders in the hospitality and tourism industry — Wind Creek Hospitality, owned by the Poarch Band of Creek Indians, and the McGregor family, owners of Birmingham Racecourse and Casino and Victoryland Casino — announced that they have entered into an agreement under which Wind Creek will acquire the Birmingham Racecourse. The sale is expected to be finalised by early 2025.

Kaizen Gaming Colombia, owner of the Betano.co brand, was authorised by Coljuegos to operate online betting in the country. With this new operator, there are now 16 web platforms that have the approval of the entity to market games of chance online. The entity is also in the process of authorising an additional operator called Bingo Casino, which is expected to begin offering bets in the coming weeks.

Gaming Laboratories International has become the first laboratory to achieve accreditation in Maranhão, Brazil. The accreditation allows GLI to perform tests and certification for the gambling and lottery industry interested in working with lottery and fixed-odds betting operators in the state of Maranhão. The milestone is the latest in a series of regulatory achievements for GLI in Brazil.

BetConstruct has announced their participation at this year’s GAT Caribbean Cancún that takes place in Mexico from November 26-28. Taking place at the Cancún International Centre, the GAT Caribe Cancú is a prestigious event that gathers manufacturers, operators and marketers to broaden the horizons of the online and land-based markets in Mexico, the Caribbean region and Central America.

Legendz Social Casino & Sportsbook announced its highly anticipated launch, offering players an unparalleled social gaming experience across 43 states in English and Spanish language. With a vast array of games, innovative features and a player-first philosophy, Legendz is set to redefine the online social and sweepstakes gaming landscape.

Partnerships

International Game Technology PLC has announced that it has launched its first wide-area progressive (WAP) compatible game in Colombia with the all-new Condor Link. Players across the country now have the opportunity to spin for large-scale WAP jackpots at nine properties operated by Winner Group Cirsa, one of Colombia’s largest gaming operators. Delivering a highly engaging entertainment experience to the gaming floor, IGT’s Condor Link game features four jackpot levels and a reset value of 75,000,000 Colombian Pesos (COP).

Cisco and MGM Resorts International announced that the companies have signed a Whole Portfolio Agreement (WPA), empowering MGM Resorts with the majority of Cisco’s software portfolio. This includes cybersecurity, software defined networking, software defined-WAN, digital experience assurance, full-stack observability, data centre and services. This agreement spans 5.5 years, benefiting guests and employees across all of MGM Resorts’ properties.

Endorphina has entered into a partnership with Luckia, a leading company in the gaming sector. Combining Endorphina’s passion for slots with Luckia’s innovative spirit, this partnership is set to provide incredible gaming experiences to all iGaming enthusiasts. Luckia is a commercial brand of Luckia Gaming Group that combines offline and online gaming, including traditional businesses such as gaming machines in bars and restaurants and gaming arcades, new online gaming activities and land-based sports betting.

The post Gaming Americas Weekly Roundup – November 18-24 appeared first on European Gaming Industry News.

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POKERSTARS UNVEILS POWER PATH LUCKY REELS SLOT: SPIN YOUR WAY TO EXCITING REWARDS

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PokerStars is thrilled to introduce its latest online slot game, Power Path Lucky Reels, where players can win Power Path tickets and passes worth up to $10,300 at any time during gameplay.

This innovative slot game offers players an exciting new way to secure Power Path Passes and access some of PokerStars’ most prestigious poker experiences.

Key Features of Power Path Lucky Reels:

  • Random Drops for Big Wins: Power Path Lucky Reels randomly awards prizes during gameplay, meaning any spin can result in a win.
  • Exciting Rewards: Players can win a range of prizes, from Step 1 Tickets to coveted Gold Power Passes worth $10,300.
  • Your Path to Poker Glory: Secure your Power Path Pass and take a step closer to exclusive poker opportunities.

“Any Spin Can Win”

Players simply spin and play as usual, and on any spin, a Power Path Prize could drop, giving them an instant shot at poker glory.

Rewards Available:

  • Step 1 Ticket
  • Step 2 Ticket
  • Step 3 Ticket
  • Step 4 Ticket
  • Power Path Bronze Pass
  • Power Path Silver Pass
  • Power Path Gold Pass ($10,300 value)

Power Path Lucky Reels launches November 25th, exclusively in the PokerStars client. Don’t miss this exciting opportunity to play, spin, and win your way to unforgettable poker experiences.

For more details, please contact [email protected].

More information on responsible gaming can be found by visiting: pokerstars.com/about/responsible-gaming/

For PokerStars UK: Offer runs until August 25, 2025. Power Path Lucky Reels only. Initial opt-in required. Unopened Chests and rewards expire in 72 hours. Terms apply and more information about the Terms and Conditions for the promotion on PokerStars UK can be found by visiting: pokerstars.uk/poker/promotions/terms/?language=en

 

The post POKERSTARS UNVEILS POWER PATH LUCKY REELS SLOT: SPIN YOUR WAY TO EXCITING REWARDS appeared first on European Gaming Industry News.

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T1 claims victory at Red Bull Home Ground 2024

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After a thrilling Grand Final, T1 claimed the 2024 off-season champions title at this year’s Red Bull Home Ground. Emerging victorious with a 3-1 victory over Cloud9, they take home the much-coveted trophy for Korea.

In front of more than 2000 fans experiencing the excitement first-hand in Berlin, Germany and the thousands more watching at home, the professional VALORANT Invitational tournament saw a closely fought finale play out on the Arena Berlin stage.

As the event kicked off on Thursday 21 November, the Group Stages saw both T1 and Cloud9 put in dominant performances as they each went 2-0. While Team Heretics started in a strong position with a win over FOKUS, they fell to Cloud9 and, due to medical issues, were unable to continue, sending FUT Esports straight to the Semis. Vying for their own spot in the semi finals, last year’s champions Fnatic were unable to replicate their 2023 success as G2 headed into the lead with a 2-0 victory.

The Playoffs saw Cloud9 continue their dominant streak as their Semifinals match against G2 Esports went 2-0 with strong performances on both Sunset and Pearl. FUT Esports faced off against T1 in a hotly competitive game, with T1 taking the first map and FUT Esports the second. After a neck and neck showdown, T1 finally took Ascent as FUT bowed out the tournament and T1 advanced to the grand final.

The final stage of the competition saw Cloud9, who came in second place at last year’s tournament, go head to head against T1 in a thrilling matchup. Continuing to step it up in the grand final, T1 were off to a strong start as they took Abyss in a closely fought first match. Although Cloud9 soon equalled the score as they took the second map, it was T1 that eventually emerged victorious, winning the next two closely contested games to claim the trophy and Red Bull Home Ground 2024 champion title.

Following an excellent performance throughout the tournament, Red Bull Home Ground champion BuZz of T1 said: “Winning this tournament means a lot for us. Against international teams we show we’re strong, so that’s why I’m happy we win this tournament and maybe we can keep this momentum until the end of 2025!”

The post T1 claims victory at Red Bull Home Ground 2024 appeared first on European Gaming Industry News.

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