The Crypto Casino: How Cryptocurrencies Are Shaping Online Casinos Around the World
Crypto casinos are online casinos that allow the use of cryptocurrencies, and they are becoming extremely common. Wherever online gaming is thriving, you’ll find crypto casinos expanding, scaling, and developing new innovations along the way.
In Vietnam, gaming company RubieCon is cornering the social casino market in Southeast Asia. The provider offers digitized versions of local card games, playable for blockchain tokens – in a uniquely engaging social format that has allowed it to dominate the sector.
RubieCon is also using blockchain as a core component in its independent foundation managed platform, an open and free tool for game publishers, marketers, and players to build upon the social gaming model.
Meanwhile, in Europe, crypto casinos have been aggressively expanding across the continent. This has been streamlined by the backing of independent testing and licensing authorities like the eCommerce Online Gaming Regulation and Assurance agency (eCOGRA) and Gaming Laboratories International.
This can be observed in the recent deals penned by global online casino provider Evoplay, which supports over a hundred cryptocurrencies. Seeking to break into the Italian market, Evoplay has sealed a partnership with Giochi di Slots. This in turn opens the prominent local Italian operator to also accepting crypto for games, while also giving it access to Evoplay’s global promotional resources.
With the approval of organizations like eCOGRA, European online casinos have been instrumental to the global expansion of the crypto casino phenomenon. The same can be said of the online casinos and gaming companies here in the U.S. In fact, American online casinos have not only promoted cryptocurrencies, but different blockchain asset-exchange technologies as well.
For instance, gaming giant Atari has been developing its own crypto casino in a virtual reality realm called Decentraland. The blockchain-based virtual world has become a new way for brands and artists to sell virtual assets in the form of non-fungible tokens (NFTs) – blockchain-verified assets that are quickly becoming popular.
In fact, Decentraland’s homegrown cryptocurrency MANA jumped 3,500% in value over the past year. And a new crypto casino would be just what Decentraland needs to further expand its influence over ‘real world’ markets. Apart from expanding the use of crypto in online gaming, the Atari Casino’s almost entirely blockchain-based business model is a glimpse into the future of crypto casinos.
The convergence of blockchain technology with the rapidly rising global online casino market is a match made in heaven. It’s obvious that both billion-dollar industries are on the way to making more billions. And underneath the surface, the developments underscore the impending global takeover of blockchain and digital currencies.
Even in Macau, the gambling mecca for land-based high-stakes casinos, digital currency is taking center stage. Designed as the ‘anti-Bitcoin,’ the Digital Yuan is now being used by Macau regulators and the Central Bank of China to revive the local pandemic-hit gaming industry. Outside of online gaming, even land-based casinos are leveraging cryptocurrencies.
In the future, there is no doubt that crypto casinos – whether online or land-based – will shape the gaming industry. And through aggressive expansion, innovative new games and formats, and the integration of more blockchain technologies, crypto casinos are definitely here to stay.
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