Compared with its state in the previous years, the Bitcoin casino market is significantly livelier today. The gambling sites that braved the budding industry before now have a sizeable customer base as more brands continue to trickle in. In sync with its growth is the introduction of the improved methods of betting cryptocurrency on the web. One of these is direct betting, a process that allows players to wager and receive bitcoins without going through a third party.
This is not exactly new in the business as evident with the number of Bitcoin gambling platforms that employ this system. What is new, though, is that more sites are taking notice of it as of late.
SatoshiDice, arguably the first dice game online, initially featured only a classic blockchain-based game until it launched its other Bitcoin dice offering. Bitcoin sportsbook DirectBet also takes pride in enabling its players to directly bet on sports in real-time. The latest to join the club is the soon-to-be-launched Bitcoin poker site Bitnplay, which even uses the tagline: Trust no one. Play with everyone.
As more platforms slowly switch to offering direct betting services, it is worth pointing out the advantages this has over the need to set up accounts.
- No need to deposit and request cashouts
The main difference direct betting brings forth is it eliminates the need for players to set up an account, deposit on it, and request withdrawals. Without having to make a deposit, request for withdrawals, and even register for an account, the bettors significantly increase their game time, which is primarily the purpose of indulging in Bitcoin gambling.
- Safer, faster, and trustless transactions
Although playing in a Bitcoin casino already entails much faster payment transactions, some bettors still prefer going through these processes without having to trust anyone.
The usual scenario when an account is needed includes the worry of some players that their accounts may be compromised. Several security measures like two-factor authentication are enforced by some websites, but there is still no guarantee that the servers or the hot wallets of the brands are fully protected from all kinds of attacks.
Another common incident with storing funds in the Bitcoin casino account is the possibility that the platform will scam the players. This happens frequently, leaving the unfortunate customers losing their bankroll and winnings.
- More player anonymity
Although most Bitcoin gambling sites only ask for an email address aside from a username and password, some players are still irked by it. The automatic generation of accounts is one solution to this, but an email address will still be needed in order to secure the account.
Thus, being able to wager by sending the BTC bets straight to the Bitcoin wallet address appears to be the method that highlights player anonymity. After all, the only piece of information that a bettor will provide is his or her wallet address.
Excluding any third party from the betting process presents several factors from which players and even the operators will benefit. This setup works seamlessly with micro betting and sports betting. However, its success in the Bitcoin casino market is yet to be seen. The true effect of direct betting on this niche will materialize only when more casinos adopt this system.