In the last few years, many new games have entered the market and many new people became part of the gaming community. People looking for a spot of entertainment have turned to online platforms – which explains why online casinos have popped up everywhere on the market.
Here are some facts:
- Crypto casinos are becoming increasingly popular
- Stake.com got its own community-based fan page
- Bitcoin offers great advantages to the gambling industry, including: faster ways to send money; cheaper fees for transactions; and a greater anonymity and security for both players and game providers
- The Malta Gaming Authority opens new ways for crypto casinos on the island
The introduction and increasing popularity of cryptocurrencies has impacted the gaming scene as well. As the gaming and gambling industry always keeps up with the newest trends in technology, it is no wonder that it has immediately adapted to the new digital currencies such as Bitcoin.
Crypto casinos are becoming so popular that some casinos got their own fan pages like Stakefans.com to unite the community and offer a platform for exchange and communication. Some countries like Malta have done their best to adopt these new casinos and tried to find ways to work with them.
But what are crypto casinos exactly and why are they so popular? What potential do cryptocurrencies have in the gambling industry and what role does Malta play in the gambling scene? We have gathered the facts you need to know!
What is Stake?
First things first. What are crypto casinos? The crypto casinos are those casinos where cryptocurrencies like Bitcoins are used. Bitcoins are used by gamblers to fund their games. These types of digital currencies provide you total control and anonymity. The players will have to register first and provide their details.
The rules and terms are more or less like the regular online casinos, except that you get an additional option of making and receiving payments.
Stake.com is a popular crypto casino that exemplifies what those new casinos can become. Stake.com was founded in 2017 and operates under an official Curaçao eGaming licence.
Despite being relatively new, Stake online casino has already managed to build a steady and faithful user base. After you have set-up your account, you can head to your preferred category of Stake games. Stake casino has several categories, including slots, live casino, game shows, jackpot slots, feature buy-in, table games, virtual games, Blackjack, Baccarat, and roulette. One can bet on sports like Tennis or the NFL as well.
The games are based on cryptocurrencies. That means that after registering you have to fill your personal digital wallet with cryptocurrencies like Bitcoin in order to bet and play the games. The rest is just like any other online gambling site. But it must be noted that the new crypto games have mostly very great graphics and their very own quality.
Stake.com has become extremely popular in recent years and now even has its own fan page. If you want to find out about the strategies you can use at Stake casinos, watch this video.
The potential of cryptocurrencies
Game developers are waking up to the potential of crypto and blockchain. More and more companies accept crypto payments, but blockchain games are still somewhere in the shadows of crypto trading – except for CryptoKitties, a game released in 2017 to become the first globally adopted blockchain-based game and break all imaginable records, including a staggering $170,000 for a rare kitty.
But what are the advantages of cryptos for the gaming industry? One major advantage is the low costs of transactions. Bitcoin transactions are much cheaper than other transaction methods. Furthermore, transactions are extremely fast, which is a big advantage in the gambling industry as nobody wants to wait before they can access a game.
The point which is the most important though is privacy. Online gambling can be dangerous as hackers and fraudulent websites often try to rip off players by stealing their bank information and passwords. As the blockchain that cryptos are based on is extremely safe, no hacker could ever crack it.
The new currencies offer privacy and security to players and game providers and make a safe and fair game possible that offers the highest amount of fun and entertainment.
Malta: A gambling hub
One country that has been known for its open gambling policy for a long time is Malta. The mediterranian island has very open gambling laws and adopted also the new crypto casinos pretty quickly.
The Malta Gaming Authority is regulating and monitoring all activities happening on the island and online in order to protect the people and the providers. Furthermore, the Malta Gaming Authority provides licences to operators who wish to operate throughout the European Union. For players using a gaming service, the MGA ensures transparency and fairness.
It also helps prevent crime and corruption and protects vulnerable or underage players. It promotes responsible gambling, protects players' funds and audits gaming devices and games to ensure they generate numbers randomly.
The MGA is also accountable for monitoring licencee activities, safeguarding players rights and investigating complaints. It monitors criminal activity and ensures that operators sufficiently monitor players gambling habits so that problem behaviours can be identified and mitigated.
The Malta Gaming Authority makes gambling not only possible but also safe and enjoyable. The island made it open new ways for casinos to develop and stay on track with the latest trends. Crypto casinos are on the rise in Malta and everywhere else in the world and offer great new opportunities for provider and players, with new exciting games and better conditions than ever before.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/.