Gambling has a long tradition in the history of human society. Throughout history, there have been plenty of different iterations of some kind of wagering or gambling, whether it is sports or card games played in salons. There are signs of similar games being played even in the ancient times thousands of years ago. It is in our inner being to want to employ lady luck and wager money on a certain outcome. It is who we are.
However, in the modern world of COVID-19 limitations and an overall lockdown and restrictions, it is no longer possible for anyone to navigate their way to their favorite casino whenever they feel like it. Even if you do end up in your city’s main gambling place, there are nearly not enough people to play against. The solution fortunately exists and it is on the web. Like everything else nowadays, you can easily gamble online. It is hardly a new invention either, since the first web-based casino services have been around for almost two decades.
The online gambling industry has never been bigger than it is right now and you should definitely be a part of it. What is more, relating to this article, you should definitely think about financing your web casino sessions with cryptocurrencies. Digital currencies are ever increasingly popular and more and more regular people are investing in it. Considering the recent record-breaking surge in value of Bitcoin, a whole army of newly interested investors appeared, many of whom are active gamblers too.
Gambling and Bitcoin
One of the first industries to make use of cryptocurrencies was online gambling. Due to the friction associated with the various payments in the industry, cryptocurrencies were a natural fit for such a finance heavy pastime activity. Unsurprisingly, many iGaming affiliates have benefited greatly from the Bitcoin boom and the associated price rise in many of the other cryptocurrencies. It seems quite normal that different branches of technology meet up and develop further together, backing each other up and reaching new heights.
Online gambling affiliate GamblersPro.com is entering the cryptocurrency space in a big way in 2024. Leo Twin, the CEO and founder of the website, has stated that he believes we are at the midway point of the traditional 4-year Bitcoin cycle and that the crypto industry is entering a new phase of legitimacy and mainstream acceptance.
“We have been building out our mining infrastructure and accumulating promising crypto tokens over the past few years. During the bear market, increasing numbers of people counted crypto out. We did not. We bought lots of mining equipment, connected with investors with a long-term vision, and have been steadily accumulating tokens that we think will do well. The recent price boom has allowed us to book the profits needed to fulfill our long-term vision in this burgeoning industry.”
What Does Gamblers Pro Have in Mind?
Now, aside from investing in a new mining facility in an undisclosed location, the gambling affiliate also sees a much bigger picture and is investing heavily in crypto casino apps based on the popular blockchain technology and networks.
Citing Ethereum 2.0 and the upcoming Cardano main net launch, Leo Twin outlined his own view that crypto casinos would pose a great challenge to entrenched, brand name casinos like Bet365, Casino.com, and others in the future. Therefore, it means they have a reserved spot on the market and that the big names who enjoyed the balance of powers almost unopposed will finally have some true competition.
“Ultimately, this will play out over 20 years. It will take a generation before the full effects of this become apparent, but we intend to be one of the main beneficiaries by proving cutting-edge crypto casino games and developing casino apps on both the Ethereum and Cardano blockchains. After a careful analysis and endless meetings with investors, we have identified these two as the likely big winners in the future.”
What is more, Twin also claims that the profits booked from the meteoric Bitcoin recovery, along with extra cash raised from different investors, will allow the firm to build 10 crypto casinos right from the start. In addition, it will allow them to continue their large-scale Bitcoin mining operations for several years into the future.
This is also not all as he has an answer to critics who still strongly believe and claim that Bitcoin is bad for the environment and that we are far better off without it in the mix.
“The ultimate goal is to fuel this mining with renewable energy. That is where this industry needs to go, and we intend to be an example of how that can be done. We have selected a forward thinking European country for our new mining site for this reason.”
There are many crypto casino apps currently available on blockchains such as Ethereum, Tron, and others. These have yet to gain a widespread adoption due to the technical difficulties of using them for average people who simply want to have some fun and play their favorite casino style games. Twin said that this was one of the reasons for choosing Cardano as the main blockchain to focus on since it is a new solution that can be tailored right from the start to be easier to use for the wider population of players.
Conclusion and Takeaways
All in all, the rise of online gambling in the recent years is more than understandable and it has a lot to do with the dominance of digital currencies. Since people cannot leave their homes like they used to, they are turning en masse towards the online solutions.
Even the hardcore players who used to spend hours every day in their favorite brick and mortar casinos are now passionate online players. Combine these people with those who have already been in the bitcoin game for years, and you have an astonishing amount of potential Bitcoin gamblers. This benefits both industries and it is the only logical thing moving forward. If the future of money is really digital, then it should also be the future of gambling especially on the web.