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Live Casino Gambling Is Big With Crypto

Do you want to enjoy the feel of a real casino from the comfort of your couch without having to make that drive to the nearest facility? Playing live casino online will give you that unforgettable experience. Technology has changed operations in many industries, and the gambling sector has also enjoyed those benefits. 

Live casino gambling isn’t a new thing given the fact that it’s been almost three decades since its inception. However, one thing that’s been introduced over the past few years is the use of crypto in these games. Bitcoin gambling and the introduction of various crypto coins have proven to be more convenient and secure than traditional payment modes.

This trend has contributed to the growth of many online gambling sites. It’s, therefore, quite challenging for beginners to pinpoint the best platform to learn and put their betting tricks into practice. There are, however, several reputable websites that you can try. For instance, Stake.com is a worldwide leader in crypto gambling, and it offers a variety of options when it comes to online games. 

If you’re wondering how to experience the fun of playing live casino games with crypto, then this article is for you. Here, you’ll learn everything you need to know about this exciting trend in the gambling sector. Read on for more. 

What is live casino gambling?

Before going any further, it’s important to understand online casino gambling and its relevance to the modern era. During its early years, customers were only able to play virtual casinos with robots. However, given the growth of modern technologies, those robots have since been replaced with live dealers. So, simply put, live casino gambling is a set of online services that allow you to enjoy casino games online regardless of your location. It’s something that many companies are constantly adopting in their operations. 

This trend has proven to be a game-changer because of the impact it has on the clients. For one, as a user, you get to enjoy the games as you would in a real casino without moving an inch from your couch. Live dealers make the whole thing interesting because they serve cards or chips, accept bets, communicate with players, and give the results at the end of the games. It might not seem like a big deal, but you’ll be surprised how many people wanted to enjoy this experience, but they simply couldn’t with robots. 

What makes everything even more entertaining is the introduction of live streams. For instance, live casino games on Stake are streamed live. As such, you get a livelier interaction with the casino dealers. which enhances your experience even further as a player. This is because some games make use of interactive chat which players would surely enjoy. 

Cryptocurrency and live casino gambling

As mentioned earlier, the use of cryptocurrency is among the most significant recent changes that have impacted the gambling industry in general. But what exactly makes crypto one of the biggest subjects in the whole gambling community? Why is it a significant topic to both new and seasoned players?

In the last few years, every gambling company has been investing a lot of resources in the introduction of cryptocurrency and enhancing its integration with the company’s platforms. As a player, you now have the opportunity to not only invest in crypto but also use your virtual coins to place bets on supported sites. 

If you thought your live casino experience couldn’t get better, think again. The introduction of crypto has proven to be a huge step toward meeting the demands of the whole gambling fraternity. So, what makes this payment option a must-have partner in live casino gambling? 

Benefits of crypto in online casino games 

Whether you’re using the oldest and most famous virtual coin–-Bitcoin–-or the likes of Ethereum, Litecoin, or Cardano, the benefits you’ll enjoy are the same: 

  • Top-notch security

Security is an important aspect when it comes to any online transaction. The idea of sharing your credit card information seems a lot riskier than ever before. Cybercriminals have a way of accessing your personal information and use it to their advantage if you don’t keep it safe enough.

Fortunately, security is prioritized when it comes to crypto gambling. As long as you keep your passwords or wallet keys safe, you won’t have to worry about the security of your cryptocurrencies. Remember, one has to acquire your unique key for them to steal what you’ve stored in your crypto wallet.

Compare this with traditional payment methods like credit cards and direct bank transfers. If by any chance cybercriminals succeed in hacking a gambling site, they’ll have access to all your banking information. As such, they can easily transfer money from your bank or credit card, which could be a huge financial loss to you.

  • Much-needed privacy

Do you prefer gambling anonymously? You’re not alone. Many people cherish their privacy when it comes to casino games. Although gambling isn’t illegal in most parts of the world, most of the time, it comes with some sort of social stigma. There is a common belief that people who gamble are immoral and unsavory characters. Inasmuch as these descriptive names might hold water in some instances, you’ll still be stigmatized even if you’re doing it for fun. 

With crypto gambling, however, you get to enjoy your games without worrying about being judged by those who know you. But privacy in this case isn’t all about social judgement. It also plays a critical role in the overall security of your data. Security and privacy may have different meanings, but they’re closely related in the modern world of the internet. So, to achieve the former, you’ll need a reliable privacy system, and the use of cryptocurrency contributes to that. 

  • Instant payments

Live casino gambling is fun when you can deposit and withdraw your money without delay. This is the convenience you enjoy when you play on platforms that support the use of cryptocurrency. Crypto payments are very fast with most transactions getting approved within minutes. Some may take a few hours, but the longest you might have to wait is a day, which happens on rare occasions.

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Traditional payment options, on the other hand, tend to take a long time before they’re confirmed. For instance, a bank transfer will typically require a five-day processing period before you receive your money. The same applies to most of these traditional payment methods.

Although technological advancements have enhanced these transfer processes, delays are still experienced in international transactions because of security issues. So, if you want to enjoy your wins instantly, then crypto is the way to go. 

  • Cost-effectiveness

Transaction fees can take away a huge percentage of your profit, and that’s before you even include the taxes. So, if you’re using direct bank transfers or credit cards, you might end up receiving up to 30% less of your total winnings. Depending on the amount you won, this could translate to a lot of money, which is a dealbreaker for many people.

Bitcoin and crypto transfers in general aren’t only faster but also cheaper than traditional bank transactions. The fees you incur in the process are a fraction of the service fee that banks would charge you. 

The good thing is that both the player and the website owners benefit from this cost-effectiveness. When you fund your account with crypto, the house saves on the fees that it’d have otherwise incurred if you used a credit card. As a player, you also benefit because you’ll keep a bigger percentage of your winnings. 

  • Decentralization

Another benefit of cryptocurrency is decentralization which simply means there’s no middleman involved in your transactions. With traditional payment methods, your money has to go through a central authority like a bank or government agency. This extra step makes the whole process sluggish and inefficient, especially if you’re looking to use the money for an emergency.

Cryptocurrency, on the other hand, uses a blockchain system and doesn’t require a middleman for the transaction to be complete. As such, you’re likely to receive your money more efficiently because of the direct transfer. This system is the reason crypto transactions are also cheaper than traditional methods.

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How to shift to crypto payment methods

You might be interested in joining crypto live casino gambling because of the benefits mentioned above, but you’re not sure where to start. Worry no more because this section will cover all you need to get started. The process is quite straightforward, provided you have all the documents ready.

But before you start, it’s imperative that you confirm if your current gambling site supports cryptocurrency. If it doesn’t, then you should look for a website that doesn’t only meet these needs but is also reputable among other players. That said, here are the main steps for creating your crypto payment channel:

  • Creating a crypto wallet

The first step is to create a crypto wallet which will act as the storage area for your coins. There are many options when it comes to the providers of this facility. Among the factors you should consider when choosing one is the number of currencies and modes of payment (card, bank transfer, mobile money) they support. Also, select an exchange that allows you to deposit money at gambling sites because some of them are limited by their native country’s laws and regulations. 

  • Verify your identity

To increase the security of your money, every exchange is required to verify every user’s identity. This step may take the longest time because of the procedures involved. Depending on the policies of the company you’ve created an account with, you may need to provide proof of your identity using your utility bills and other relevant documents. Remember, that’s on top of normal documents like national IDs, passports, and driving licenses. 

  • Link your payment method

There are many online payment methods today, with the main ones being direct bank transfers, credit cards, and mobile money. Choose one that’s convenient for you and link it to your crypto wallet. This is the channel you’ll be using to deposit money to your exchange account and withdraw from the same wallet. The linking process can take anywhere between minutes to days, depending on your bank’s security policies.

  • Buy cryptocurrency

Your next step is to buy crypto and load it to your wallet. You’ll first need to deposit money from your bank to the wallet before proceeding. Once that’s done, you can choose which cryptocurrency to purchase and follow the steps provided by your exchange. 

But remember, though, that not all cryptocurrencies are ideal for gambling. Choose one that’s supported by the gambling site of your choice. The most common options include Bitcoin, Ethereum, and Litecoin. Select one that’ll give you the best results based on its affordability and overall performance. 

  • Depositing crypto to your gambling site account

Now, you have a crypto wallet loaded with the cryptocurrency coins of your choice; what next? The final step is to follow the necessary procedures on the gambling site to deposit coins from your crypto wallet. This should be a straightforward process provided everything is ready.

Conclusion

Live casino gambling has been around since the 1990s and has been gradually growing over the years. The most significant introduction in the past decade or so is cryptocurrency. Bitcoin, for one, has become very popular among players given the number of benefits it brings to the gambling fraternity. 

Using crypto in live casino gambling ensures that you get your payments almost instantly because of the high efficiency within the crypto system. Apart from being faster than traditional payment methods, crypto transactions are also cheaper because there are no middlemen involved. As such, you receive a significant percentage of your winnings while incurring a very small service fee. If you’ve not yet joined the rest of the players in crypto gambling, then the steps provided in this article should help you. The process is very straightforward with only a few identification documents required for verification.

References

  1. “Everton’s New “Crypto Betting” Partner.”, Source: https://theathletic.com/3370766/2022/06/18/everton-crypto-betting-stake/
  2. “Gamblers Lose Taxation Battle.”, Source: https://www.businessdailyafrica.com/bd/economy/gamblers-lose-taxation-battle-3560932
  3. “Cryptocurrency In Gambling: Features And Benefits.”, Source: https://www.analyticsinsight.net/cryptocurrency-in-gambling-features-and-benefits/
  4. “Playing With Crypto? You’ll Need A Wallet (Or Several).”, Source: https://www.analyticsinsight.net/cryptocurrency-in-gambling-features-and-benefits/

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