Gone are the days where bitcoin was only but an elusive idea. With the need to embrace the future, people have moved to digital currency are reaping its full benefits in bulk. One of the many industries that have embraced digital currency is online gambling sites.
However, not all online gambling websites have taken up the change. The number of online casinos accepting this kind of payment is quite tangible and thus locking players out who intend to pay using bitcoin. Nonetheless, as a unique online casino, you need to tap into the vast punters market and offer them what they need.
It’s a chance to stand out and embrace the new technology that gets set to leave a mark in the online gambling industry. If you are yet to incorporate this payment method, here’s why online casinos ought to accept bitcoin.
1.Maneuver stringent laws
The increase in bitcoin among online casinos make it a remarkable entertainment decision for punters to spend their digital currency. The future for bitcoin in online casinos still looks promising, and you certainly don’t want to miss out on the innumerable benefits. That’s not all; cryptocurrency is yet to be defined by any countries laws as compared to fiat currency. Thus, you get to enjoy a chance where any government doesn’t control the money. One can easily power through the grey markets with simplicity and offer your clients their preferred payment.
2. Zero processing fee to cover
The cryptocurrency network often charges costs of payment from those who send their payment. The player usually has to part with a small amount of currency. Such charges often get paid to the bitcoin miners. These miners often facilitate the transaction as online casinos get to avoid covering any processing fees. It’s a chance where gamblers initiating the depositing and withdrawal pay the mines. If you are worried about the players ditching your website, you don’t have to be. Its because the charges are much cheaper as compared to fees transacted by e-wallets, credit cards or banks. It thus saves you from paying any expensive transaction fees that eat into one’s profits. A rise in the cost of charges is often a rare phenomenon that can hardly flare-up.
3. Cater to punters who appreciate bitcoin usage
The secret that numerous gambling sites, including online baccarat, use to keep punters coming back is offering them their preferred payment choice. Thus, you ought to adopt such a strategy and take your client’s plea at heart. There exists a section of online punters who prepare to place bets using bitcoin. Thus, you ought to strive to cater to them. It’s often their mode of choice due to the simplicity attached to BTC deposits as well as withdrawals.
All these punters have to do is learn the ropes that entangle the online currency. Some players often get bitcoin from various exchanges to start the betting process. Once the exchange releases funds to the casino, it’s a smooth sailing process to staking a bet and waiting for the outcome.
Incorporating BTC into your online gambling system is a chance to capture punters who feel skeptical disclosing their personal information online. In a rapidly increasing technological world, one could have all their data exposed in a snap of a finger. However, BTC has got such people covered. It’s a chance to assure the punters of a secured, documented as well as distributed ledger. Thus, one can monitor all the transactions that take place. There’s also no worry about conversion rates, and one can gamble with ease all through.
4. Cryptocurrency remains a hot subject.
It wasn’t until sometime back that cryptocurrency gained acceptance among online casino innovators. The topic is rather still hot, and more people are willing to learn about it and discover what’s in it for them. Bitcoin remains news to some punters, and you can tap into that. It’s often a chance to offer your dedicated and new punters a chance to have a taste of gaming with digital currency at your website. Thus, you get to gain much traction and more people signing up to your site to try the unchartered bitcoin gambling waters. Moving with the current digital trends often ensures that one gets to remain relevant in the ever-evolving online gambling world. It’s also a move that tends to capture all curious punters who delight in trying something entirely new to spice up their online gambling experience with each passing game.
5. It’s a unique marketing strategy
Have you exhausted all the known online gambling marketing tricks, and nothing seems to be working? How about you incorporate bitcoin into your marketing tactics. It’s time to theme and position your website revolving around bitcoin. You can also offer some fabulous deals to any bitcoin user. It’s a chance to watch the traffic trickling in and increasing in no time. It’s a chance to further your marketing efforts and get a lot of punters to have a look at your webpage. It’s also a great chance to set yourself apart from other online casinos by offering a unique and untapped online payment method.
6. Offer privacy
The cyberspace is a landmine full of online hackers ready to devour a gambling website with a single click. However, you can stay ahead of the curve and nip all their hacks at the bud. One way to do this is by using bitcoin. It’s often a chance to use a secure payment system where 3rd parties have no access to personal as well as financial layers. You also get to ensure your clients don’t have their transactions getting processed by third parties. Thus, there isn’t any need to link banking info or credit card info to the website.
7. Instant payout
What a great way to forge trust among online punters than offering them a quick payout! Providing such an opportunity is often not comfortable with fiat currency, as the processing can take some time. It is usually a frustrating chance among punters who want to withdraw their winnings. However, with bitcoin, gamblers can enjoy instant payouts. Once one sends their cash to bitcoin, the casino’s address their desired amount gets transferred upon confirmation.
8. Zero taxation
Each gambling site has to part away with some taxation money to the government. Such a move often eats into one’s profits more so when you’ve not adequately prepared and equipped yourself for tough economic times. However, with bitcoin, you can bid taxation goodbye. It’s because there isn’t any country that acknowledges BTC as real cash currency. Thus, it isn’t subject to any taxation. One can allow their punters to enjoy anonymous transactions at any gambling time.
However, with immense benefits that come with having bitcoin in your gambling website, you ought to get ready to accept the downside of it.
You ought to brace yourself as bitcoin currency is somewhat volatile. Thus, its exchange rate moves rather swiftly that you would have anticipated for once it happens. It’s often essential to stay on your toes as you wouldn’t have an idea when such a move might work for or against you.
Online casinos often get tainted with scamming activities where punters lose millions of their invested cash. In as much as bitcoin is based entirely on transparency, it also offers the users ultimate anonymity. Such a situation makes it even challenging to trace one’s bitcoin’s wallet at any time. Without a secure channel, the online hacker can access the punters’ e-wallet and transfer some funds.
Poor licensing and documentation
Here’s another enormous challenge that you would need to battle with at any time. You ought to prepare yourself as BTC hardly comes with any legal licensing requirement. In as much as you’ll get to save a bucket load of cash with the licensing, you ought to know that your punters are still watching. Such a drastic move can decrease your credibility as your site is getting to attract all sorts of punters who pry in unlicensed online casinos.
Some withdrawals take time
You ought to know that it’s not always that your punters will experience instant winning withdrawal. At times the bitcoin winnings will take much longer than when one would use a credit/debit card. It’s because the bitcoin processing takes place manually where miners put in the work to make it happen. Such a move is often to ensure that security remains of utmost priority at all times.
Bitcoins are rapidly gaining momentum, and its time for online casinos to move with the changing tides. It’ll enable punters to have a look at numerous gambling sites, including online baccarat, and check their payment and withdrawal mode. Thus, one can get to become a favorite choice among the millions of online casinos that exist in cyberspace. Bitcoin is slowly changing the online gambling frontier more than some experts have predicted. There are enormous incentives that one can benefit from at any given time. Therefore, its time to take a wild ride into using bitcoin as a mode of payment and watch the great benefits unfolding.