When broadband internet exploded in the 2000s, and the switch from Flash Technology to HTML5 was complete, crypto casinos took off like a rocket. Having virtually no competition, crypto casinos thrived offshore because the American online casino industry didn’t kick off until Delaware broke the ice in 2012. And with the rising popularity of American real money casinos, the stage was set for social casinos to also take off, and take off they have.
With social casinos stretching into more areas, the need for more payment gateways and exclusive games is like an endless hunger. Little by little, crypto is becoming more involved in the social casino gaming process.
More Enhanced Autonomy
One of the reasons why crypto casinos remain in demand is their commitment to online gaming autonomy. Because crypto runs on blockchain, which is inherently used for autonomous transactions, online players, particularly American players, flocked to crypto casinos to remain anonymous, creating their accounts. By the same token, social casinos thrive on a minimal and user-friendly registration system to entice new members to join.
Also, many social casinos, like crypto casinos, only require a username and a password for maximum autonomy. Currently, social casinos use HTML5 and propriety social gaming technology to power their websites. Because crypto is becoming more available for payment options, one can wonder about the possibilities of using blockchain technology to power social casinos in tandem with their minimal and private registration system.
More Payment Diversity
When social casinos first came online, the only payment options were Visa and MasterCard. Over time, the newer ones introduced online banking, followed by Skrill. However, in recent years, the newer social casinos finally began adding Bitcoin and other crypto options like Ethereum to purchase gold coins. Unlike credit cards, which might be rejected by some financial institutions because they disapprove of gambling charges, blockchain doesn’t care.
Because blockchain is decentralized, transactions don’t have to go through banks or financial institutions to process and authorize. Instead, the social casino player just needs a valid crypto wallet to conduct transactions. Fortunately, most crypto wallets can handle multiple alt currencies, including Bitcoin Cash, Litecoin, and Ethereum, which are becoming more popular at social casinos.
Affordable Transactions
Even though credit cards process gold coin purchases instantly, they do come with fees for the most part. Another way crypto is becoming more involved in social casinos is by enticing players with low or sometimes free transactions. Because transactions don’t need banks, not only can they be processed in a blink of an eye, they can allow for larger purchases.
Depending on the social casino, sometimes, the most expensive gold coin purchase is a grand. Imagine the transaction fees on that if using credit cards or even the popular e-wallet Skrill. However, by using Bitcoin, you can keep more money in your accounts.
Because social casinos can’t accept cash bets, they use sweepstakes coins to pay their members gift cards or cash on a 1:1 basis. The issue with the standard redemption process is that it can take several business days to process.
As Bitcoin and other cryptocurrencies are more available for purchase, it seems to be a foregone conclusion that they will become part of the redemption process. When that happens, look for online sweepstakes casinos to go even further on the popularity chain, even on the same scale as real money casinos that offer same-day payouts.
Greater Accessibility
There’s no question that social casinos are coming online in 2024 like no other time because they are available in more states compared to real money casinos. Currently, legal American online casinos are only available in seven states. With 43 other states looking for their online casino fix, social casinos fill the gap. Available in well over 40 states, social casinos have tremendous access to more players.
You guessed it. With more access comes the appeal of buying gold coin purchases hassle-free with Bitcoin and other crypto options; the crypto invasion into social gaming will only continue to grow. When you throw in the amazing daily login challenges available in over 40 states, social casino tournaments, and daily bonus spins, members can literally win millions of free gold coins and sweepstakes coins. With crypto available one day for the redemption process, it will become a slam dunk that crypto will one day fully merge blockchain with the games and all social casino aspects.
