Blockchain Casinos – The Online Casinos of the Future
Bitcoin and the like have become an integral part of many people’s everyday lives. Even if Germany is still lagging behind the rest of the world in this respect, there is no doubt that the spread and acceptance of cryptocurrencies is also steadily increasing in this country. Since July 2021, there has been an entire industry sector in which Bitcoin and Co have received much more attention from one day to the next than was previously the case. We are talking about online gambling. In the next few paragraphs, we will get to the bottom of why blockchain casinos are becoming increasingly popular in this country.
What is a blockchain casino?
The term may be somewhat misleading, because when talking about blockchain casinos, mostly online casinos are meant, which accept cryptocurrencies as a means of payment. Here you have to distinguish between different types.
Some accept cryptos as a means of payment, but the wagers are in fiat currencies. Other online gambling halls are pure crypto casinos, where you can also play with coins and tokens. The third type is hybrid casinos, which combine the features of the two mentioned.
It is difficult to say which of these three types of crypto casinos is the best.This is due to the individual demands and needs of each individual gambler. You can not lump all players and certainly not all casinos together.
Online gamblers are looking for alternatives
Before we go into the benefits, we have to take a small step back and look at what has happened in the gambling market in Germany over the past year.
A new gambling law came into effect on July 1, 2021. Online gambling is now also regulated in this country. After many years, online casinos are now also licensed in Germany, thus restricting the black market. Unfortunately, the legislators have once again managed to restrict everything to such an extent that many players are desperately looking for alternatives.
Thus, there should only be slot machines in future German online casinos. Poker, card and table games, or even jackpot games are prohibited. In addition, each bet is limited to a maximum of 1 euro and all data from each individual player is transferred to a federal collective database and controlled so that on each bet also correctly, 5.3% tax is paid.
You don’t have to be an insider to understand that this does not match the expectations of most casino visitors. Since blockchain casinos bring with them many interesting advantages, there has been a kind of “casino flight” since the introduction of the new gambling law in Germany. Crypto-casinos are also becoming more and more the center of attention.
Interesting aspects that speak for Crypto Casinos
Crypto casinos are usually platforms that can offer the full range of online gambling without limit. Whether you do this is, of course, always up to the operator. However, the selection is far superior to that of German-licensed gambling establishments.
All blockchain casinos offer more than just slots. Here you can also find poker, roulette, or blackjack in digital form. Live dealers are also very popular. Here you sit at the table with professionally trained dealers and croupiers in a live stream and can even chat with them or fellow players.
There is also no maximum stake of 1 euro per game round. The maximum stake is set by the respective game manufacturers. With slots, you can sometimes bet over 100 euros per spin. With live tables, there are sometimes even private tables at which high rollers can bet several thousand euros per round. None of the casinos are connected to the database in Germany. Also, the tax mentioned further above does not exist. As a result, the payout ratio for most games is higher than is the case with German casinos.
Those who play with Bitcoin and other cryptos can do so completely anonymously. Although the transactions are all transparent and can be traced by everyone, you can only see the encrypted wallet address but not who is behind it. For players, this means that none of the transactions to or from the casino show up on a credit card statement or bank statement. In addition, transactions are faster and cheaper than with fiat currencies.
All that glitters is not gold!
However, with all these convincing arguments, one must also point out the other side of the coin. As transparent and secure as blockchain technology is, you have to keep in mind that all of these casinos are operated with a license from overseas and follow different legal regulations. If there are any discrepancies, you are on your own and have no government or legal backing, as is the case with a casino with a German license.
However, there are plenty of reputable operators of blockchain casinos. You simply have to take your time and read the testimonials of real players in the relevant forums. Anyway, online gambling should only be a hobby to pass the time, and you should not bet more than you are willing to lose. Then the whole thing is exciting fun!