No Way But Up for Bitcoin Casino Industry
Gambling with Bitcoin has already found success in its niche market that it is all set to take the next step and take on a larger audience in the mainstream industry. Although Bitcoin gambling may still be a small player in the multibillion dollar empire of the online gambling market, it has enough innovative features and offerings that can help spearhead its campaign, despite the challenges that bide trouble along the way.
The potential of the success of a Bitcoin casino, poker room, or even sportsbook in the industry is remarkable since they cater for a huge market. Also, the demand for this activity constantly grows as more people are introduced to the digital currency.
According to reports, SoftSwiss, one of the notable providers of Bitcoin casino software, has been receiving hundreds of requests to launch a Bitcoin casino, and that it handles the setting up an average of three to five casinos on a regular basis, hinting the demand for the Bitcoin gaming industry.
SoftSwiss CEO Ivan Montik told BestBitcoinCasino:
“The first Bitcoin casino on our platform was launched in the summer of 2013. In just one year we’ve made such a great progress and have practically become leaders on the Bitcoin casino software market.”
SatoshiDice, which made a name in the market by launching a distinct dice game, has also been cited as one of the key players in pushing for a wider reach of Bitcoin gambling. In fact, an analysis released last year showed that this Bitcoin dice platform alone garnered about 5% of the total value of Bitcoin transactions for the month of June.
However, these are not the only brands that are leading the swift transition of Bitcoin gambling into the mainstream. Bitcoin poker rooms like SealsWithClubs and Infiniti Poker, along with online sportsbooks and casinos, are contributing to the success of this niche market.
Bitwin.io CEO Ray Tupper sees his casino to become part of the top Bitcoin casinos online and is focused on strengthening its appeal to all kinds of bettors, stating:
“We want to be the best Bitcoin casino, as simple as that! We are growing, day by day, but we are staying focused on Bitwin.io for the time being.”
Meanwhile, Quetzal Montes, CEO and Founder of Birwo, never loses touch with reality and is aware of the challenges that his brand may face:
“Managing players and issues and requests every day is a really interesting and challenging task, it really provides very useful feedback that we consider for future improvements.”
Furthermore, as the Bitcoin gambling laws and regulation looms, brands can only expect for the best.
“Legislation in the area of cryptocurrencies is very immature and there are a lot of lacunas. This makes the life of start ups difficult. Even those who have enough investment capital and vast experience in gambling are discouraged because of the ambiguity of regulation. They are sometimes stuck as there are no clear answers as to the legality of betting for crypto currencies.”
On the other hand, Birwo’s Montes added:
“As more and more people become acceptant and understand bitcoin there will be fair regulations and governments, citizens and businesses will use and take advantage of this amazing technology.”
While the Bitcoin gambling is still waiting for its fate to unfold, key brands in the market are doubling their effort to create a healthy and desirable gambling environment that may hopefully soon become the newest paradise for all kinds of online casino enthusiasts.