{"id":138015,"date":"2023-04-26T08:42:50","date_gmt":"2023-04-26T08:42:50","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=138015"},"modified":"2023-06-14T08:51:45","modified_gmt":"2023-06-14T08:51:45","slug":"how-is-bitcoin-changing-the-gambling-industry","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/how-is-bitcoin-changing-the-gambling-industry\/","title":{"rendered":"How Is Bitcoin Changing the Gambling Industry?"},"content":{"rendered":"
Cryptocurrency completely revolutionized how people make transactions. The new currency formula grew so popular that as of March 2021, 14 percent of Americans owned some type of digital currency. Of this number, about 46 million people owned Bitcoin. The appeal of cryptocurrency has extended beyond regular financial transactions and made its way into the gambling industry. The security, privacy, and anonymity that bitcoin and other digital currencies offer makes them highly attractive to players, which now allow gamers to transact through them. Here is a closer look at how this adoption of cryptocurrency is impacting these casinos and the gambling industry at large.<\/p>\n
Gambling exists in a restricted way in some jurisdictions, making anonymity a key selling point for most gamblers. If a transaction model can promise anonymity, which cryptocurrency does, gamblers are all for it. Bitcoin is not completely anonymous but users are identified through numerical codes instead of personal details like ID number. This system ensures that users cannot be tracked publicly and their transactions cannot be traced back to them. For gamblers who wish to keep their gambling activities private, bitcoin offers an unmatched solution.<\/p>\n
Safety is a major concern for gamers on top casino sites like Betway playing poker, slot games<\/a>, blackjack, and other casino titles online. Cybercriminals seeking to tap into the lucrative online gambling market prey on gamers and steal their personal and financial data. In response, casinos have enacted multiple security measures on their sites \u2013 think AI, digital encryption, and two-step verification. However, none has been as effective as cryptocurrency. Bitcoin transactions are encrypted with a private and public key only accessible to the owner. In the event your private key information is leaked, you can immediately develop a new one. This means that nobody has access to your wallet but you, which keeps your assets safe.<\/p>\n <\/p>\nImproved Transparency<\/h2>\n