One of the biggest and main markets that have benefited from the emergence of Bitcoin gambling has been online casinos. While these have existed for the better part of a decade and progressed along with many other online gambling and betting sites, Bitcoin has helped to make the online casino market even more accessible, while making depositing and withdrawing easier than ever. Bitcoin casinos have brought brand new competition to the market, and offer distinct advantages over fiat-based online operators.
Do Bitcoin Casinos Have An Advantage Over Competitors?
Bitcoin casinos have only been popular for a few years, but their popularity has grown dramatically in a short amount of time. In 2012, almost all Bitcoin casinos reported lifetime highs in amount bet by consumers and also in revenue. Several Bitcoin casinos are now multi-million dollar companies with some valued as high at $10 million.
Though this is still a pittance to the billion dollar gambling faints across the world, we have to remember that Bitcoin is still relatively new and Bitcoin online gambling is even newer. Each month, more and more gambling enthusiasts learn about Bitcoin and end up heading to a Bitcoin casino as opposed to a traditional online casino. This keeps a steady stream of players headed to Bitcoin casinos, increasing not only their revenues, but also the rewards and odds that they can offer to players.