Online casinos may have been around for a while but that doesn’t mean that they aren’t subject to change and evolution. In order to stay ahead of the competition and keep up with customer demand, online casinos tend to make sure that they offer a range of the newest features. Over recent months this trend has been the introduction of Bitcoin and other digital currencies as an option to top-up accounts and withdraw any winnings.
People Like The Untraceable Element
Although there is nothing wrong with a gambling transaction appearing on a bank statement in countries where gambling is allowed, there are still many reasons why people would like to avoid them showing. For example, if someone is applying for a mortgage or a loan in the near future they as might want to ensure that betting transactions don’t appear on their bank statement. In this case, Bitcoin is the perfect option because it allows people to bet in the same way they usually would, but without the worry of the transaction showing in the traditional way. Things like Bitcoin betting and mobile betting are also popular in places such as South Africa, where gambling transactions are prohibited.
The Transaction is Secure
One thing that people want from using online casinos is the peace of mind that their transaction is safe and secure. Although using a licensed casino usually ticks all boxes, many people want extra peace of mind. By using Bitcoin to place your bets you’re able to do so without sharing your personal bank details, which helps to ensure that the transaction is as secure as possible.
Over recent years one thing online casino users have benefited from is an instant transaction – which means they can use accounts as soon as they deposit and withdraw any winnings immediately to their bank account. Users would be reluctant to go back to a time when they need to wait 3-5 days for transactions to complete. Bitcoin allows for transactions to be instant, both in terms of depositing into a betting casino account and withdrawing any winnings.
Much like any other eCommerce business, an online casino needs to ensure that it makes a profit each year. Although a big part of this is looking at what money the business brings in, it is also important to make sure that outgoings are as efficient as possible. Bitcoin transactions as a general rule are cheaper to process than a traditional currency, which means that if customers choose this way to use their account the casino makes more money. Not only is this good for business costs but it can also mean that the casino can pass these savings onto customers and offer more bonuses – which is great for generating more business.
When it comes to using Bitcoin and digital currency for spending at a casino it is a transaction that tends to work for both parties and that is why many people consider them the perfect match.