Gambling is a fun pastime that promises some returns on investment. But when choosing a casino, do you know which ones are right for you?
What Are Crypto Casinos?
Crypto casinos are online casinos that allow you to deposit and bet with cryptocurrencies. The jackpots on offer are also paid out in the form of cryptos. Digital currencies such platforms usually use Bitcoin, Ethereum, Tether, or their in-house assets.
Unlike their land-based counterparts, crypto casinos do not have any physical premises. Instead, you can create an account and start placing bets. Depending on their location and licensing, you may sometimes be required to complete a level 1 KYC form. So be prepared to furnish details such as your email address and name.
Some casinos are not bound by such requirements and even allow for totally anonymous gambling. And because cryptocurrencies are pseudonymous, this makes them popular with those who enjoy their privacy.
What Is A Regular Casino?
To the uninitiated, regular casinos are land-based locations where punters can physically travel to and place their bets. Some are standalone casinos, while others are part of a resort complex where you can gamble, book a hotel room, and enjoy the many available facilities.
A regular casino offers a more luxurious experience than an online casino. But that doesn’t work for everyone. Some prefer to gamble in peace and quiet from the comfort of home; others don’t want to travel long distances to a land-based site.
And this is where online casinos come into their own. Online casinos allow players to gamble from just about anywhere on PCs or mobile devices.
Besides being land-based, regular casinos usually offer a smaller assortment of games. Where a crypto casino may have thousands of choices, traditional casinos are much more limited. You’ll have to be content with blackjack, roulette, craps, and poker at a regular casino.
This is probably why online casinos have slowly but steadily eroded the market share of land-based casinos.
So, with all that in mind, which of these casinos is more profitable for you?
Crypto or Land-based?
Crypto casinos are undoubtedly more profitable than land-based casinos, which is for 3 good reasons.
1. Cryptocurrencies have room for exponential growth
Unlike fiat currencies, cryptocurrencies provide plenty of opportunities for rapid appreciation.
As I mentioned above, cryptocurrencies are highly volatile, which can be either a bane or a boon. But given how popular tokens like Bitcoin and Ethereum have become over the years, the chances are good that crypto prices will continually appreciate over time.
2. Betting online saves costs
From traveling costs to accommodation and food, there are fewer overheads associated with betting at an online casino. All you need is a PC or mobile device and an internet connection, and you’re all set. Paying out less to bet translates into higher profits, which is good news for you.
3. You can invest your crypto winnings
Another plus point of gambling with cryptos is that you can invest your winnings by staking your tokens. This is the equivalent of depositing your funds into a high-interest savings account, but the difference is that you’ll be earning even more cryptocurrencies.
A Friendly Reminder
Before you start betting, you should keep the following considerations in mind:
Cryptocurrencies are highly volatile. Because it is a fully decentralized asset traded in an unregulated environment, cryptocurrency prices are highly volatile. This means that they are liable to appreciate or depreciate with no warning at all.
As a result, your winnings may suddenly double in value or become worthless overnight. Thus, it should be no surprise that many have compared investing in crypto gambling.
All of which is why I highly recommend that you do your research to stay ahead of any sudden price shifts. That way, you can enjoy all the benefits of cryptocurrency gambling while keeping your assets safe.
Gambling is illegal in some countries. Due to its reputation, gambling is outlawed in most countries. And any attempts to bypass government restrictions can lead to fines or even imprisonment.
In most cases, punters are only allowed to gamble in selected locations; the same applies to online gambling. So, before you place your bets, check local regulations to ensure that you’re not breaking any laws. The last thing you want to do is end up in trouble with the authorities or behind bars for breaking the law.
Always bet within your limits. Gambling is a fun hobby that lets you earn some extra money on the side. Unfortunately, due to the actions of a few irresponsible individuals, it has received something of a bad rep over the years.
Regardless, remember to stay within your limits whenever you’re gambling. Set a limit for yourself and keep to it. Once you’ve hit that limit, cash out, and walk away. That way, you can enjoy your winnings instead of betting it all away.
Conclusion: Crypto Casinos Are More Profitable
In the years to come, we’ll probably see an uptake of crypto casinos as punters begin changing their betting habits. What’s more interesting is that perhaps even land-based casinos may someday start accepting crypto tokens.