When I first heard of virtual crypto casinos, I couldn’t help but imagine it had something to do with cryptocurrencies like Bitcoin or Ethereum developing their casinos. Suffice to say; I may have been wrong and right at the same time. Although not all of the casinos are real and worth using. You should check out the best crypto casino sites, the list is here.
Like any punter, you’re probably wondering how crypto casinos came into existence. Let’s delve into casino history and technology has transformed the gambling industry today.
The history of casinos
The first gambling games probably happened in ancient China. However, the first brick-and-mortar casinos were built in Italy during the Renaissance period, somewhere around 1638. Surprisingly, the first casino, also known as Ridotto, built-in Venice, still exists to date and is more active than ever.
In 1774, Ridotto was closed, but this didn’t demotivate other casinos from coming up. Blame it on the idea of many lords getting addicted, causing them to go bankrupt. Today, Ridotto is known as Casinò di Venezia, and it’s a landmark monument marking the start of gambling across the world.
How the US gambling started out
In the early 20th century, the US banned gambling. However, Nevada state reviewed the issues surrounding the ban and later lifted it in 1931. The move to lift the ban on gambling inspired other casino enthusiasts to create their buildings.
Las Vegas is known for one thing, which is gambling. Upon setting foot in this city, get ready to put your money on sports, card and table casino games, and video slots. The best part is brick-and-mortar casinos have transformed into online casinos, giving everyone the chance to experience how Las Vegas is without setting afoot there.
One of the most significant changes casinos have made is to embrace digital technology. It is no surprise that CryptoLogic, a software developer, launched the first legit commercial casino in 1996. Anyone looking to gamble from the comfort of their home gets the chance, provided they have a personal computer or mobile devices like a smartphone or tablet.
Today, crypto casinos offer many games like roulette, blackjack, and poker. As technology keeps revolutionizing the online gambling industry, so do the games, security, payment methods, and easy-to-use interfaces. Now the entire world can enjoy gambling at reputable online casinos.
How cryptocurrency came into existence
Did you know that it wasn’t until the 80s before anyone knew of digital payment systems’ existence? Thanks to the popular usage of the internet, you can fund or withdraw from your account remotely. Even better, these digital payment methods are fast and secure, assuring you of privacy.
The only pitfall of these services back then was the hidden charges and users’ reluctance. It was a matter of time before cryptocurrencies came into existence. Bitcoin was the first crypto coin created by Satoshi Nakamoto as a measure of prompt, confidential, and trustworthy online payment.
At the moment, most gamblers already know of Bitcoin and other digital wallets’ existence, though Nakamoti’s real identity still remains a mystery. With time, we can only hope these e-wallets will continue growing and offering fast, prompt, and secure payment solutions to all users globally.
What’s it with crypto casinos?
For every legit casino you visit, the first thing that crosses your mind is if there is an e-wallet option as a method of payment. With a background knowledge of cryptocurrencies, it is no surprise that you want in on the trend, provided your country or region doesn’t restrict you from gambling.
In countries like Poland, where gambling is outlawed, punters don’t have the privilege to bet on crypto casinos. Even if you live in a country where virtual casinos are considered legal, you can still benefit from the super-fast transactions and low-to-no fees that most cryptocurrencies provide.
As I’ve mentioned earlier in the introduction, online gambling has been one of the fastest-growing industries in recent years. Like virtual gambling, the uses and popularity, cryptos like Bitcoin have recorded a massive growth in the past decade.
Nevertheless, the growth of Bitcoin and that of other e-wallet solutions seems to have exploded. Think of it this way; brick-and-mortar casinos have transformed into online casinos. So, what next if these casinos don’t incorporate cryptocurrencies as a medium of exchange?
Thanks to the COVID-19 pandemic, when almost all countries in the world stressed on social distancing, it is no surprise that crypto casinos came up. After all, the gambling industry has to keep thriving, even if it means punting from the comfort of your home.
Like most online gamblers, when you hear about crypto, the first thing that crosses your mind is Bitcoin, thanks to its massive price growth in early 2021. Moreover, if you’re one of those people interested in on-the-go gambling, you probably match the profile of the person cryptocurrency tends to target.
When you combine online gambling and regular usage of cryptocurrencies, you end up with the hottest online trend to even happen in the history of gambling.