Bitcoin: Top 6 Factors That Define the Prospects

Online casinoSecurity
11 june 2017

Distinct advantages of this cryptocurrency in comparison with other financial instruments have caused a furor in the gambling industry. Participants of the market have quickly started to invent new projects and make plans on how to use bitcoin on the gambling market in a more efficient way.

Bitcoin casino solution

Bitcoin casino software has become an innovative product of famous developers, which today is offered by many providers. The company Online Casino Market offers you to buy bitcoin casino software and all programs, which are necessary for its operation.

Bitcoin: What is the Revolution?

The virtual currency was invented by a Japanese Satoshi Nakamoto in 2008. This mysterious person named his invention “cryptocurrency”. The word "crypto" (in Greek it means "cipher code") was used, because all information on financial transactions is encrypted.

The digital currency bitcoin can boast several important qualities: it does not depend on financial regulators, the name of its owner remains a secret, all financial data is encrypted, and bitcoins themselves are kept in a wallet, which is situated in a personal account.

This state of affairs impelled companies and businessmen to start a bitcoin business making all financial transactions only in the virtual currency. At the same time, businessmen are excused from the need to pay taxes and account for taxes to state bodies.

The bitcoin itself is an encrypted code and it appeares on the Internet as a result of an exchange between users. It happens in a service, which is similar to the known Torrent, where you can transfer files and movies. In order to buy the bitcoin you need to have a personal wallet, which appears after the registration on a special website.

You should take a number of actions for being able to buy the bitcoin, and here they are:

  1. Pass the registration procedure.
  2. Receive a personal code.
  3. Receive a wallet number.

Thus, cryptocurrency exists only in a virtual form on the Internet, and all financial transactions which happen with its help are made directly between the seller and the buyer.

Bitcoin can be bought, exchanged and withdrawn. All information about these processes take place on a secure server in a special database – a blockchain, where you can only see a user number (code), and nothing more. During the registration procedure it is necessary to specify a name (login) and an e-mail: the owner of a wallet remains anonymous.

Anonymity of bitcoin transactions

Today bitcoin can be used in all areas, since people buy goods and services in online stores for the cryptocurrency, which also becomes means of payment for many companies. According to the data from think tanks, currently there are more than 100 of such companies.

Advantages of the Virtual Currency

  • Anonymity and confidentiality. Nobody will ever be able to find out neither any personal data of the bitcoin owner, nor the amount of transactions or transfers.
  • Decentralization. Independence from financial institutions gives cryptocurrency total freedom from governmental authorities.
  • Stability and resistance to risks. Bitcoin is not afraid of any inflation or default, because emission is also made only on the Internet, which means that virtual currency can’t fall in value.
  • No need to pay taxes. Cryptocurrency movements are not controlled by anyone and are registered only in the blockchain, so tax authorities are not in a position to monitor it. So, consequently, the bitcoin owner does not pay tax fees.
  • Security. Hackers can’t reach the blockchain, and an e-wallet can be used only by its owner, who has an access.

It is clear that with such characteristics the virtual currency bitcoin is very attractive for the bitcoin business, especially for owners of online casinos, where both the casino and its visitors can win. And of course, it is obvious that players do not want to disclose their personal data.

Why are Bitcoin Casinos Profitable?

Bitcoin casino software consists of the same components as the software of a traditional online casino: games, gaming website, payment systems and other programs. The only difference is cryptocurrency, which is integrated into payment services, and this currency is completely different from others.

There can be two types of the bitcoin casino: a gambling establishment in which the bitcoin casino script is integrated into an already operating gaming platform, and a casino which operates completely on the basis of a bitcoin.

Top 6 customer benefits of bitcoin casinos

  1. Absolute guarantee of anonymity. Users remain incognito, because a casino that operates with the virtual currency does not require passport data for the registration, whereas in a traditional casino it is obligatory.
  2. Account money can’t be lost. The installed bitcoin casino script will not allow anyone to hack the wallet, since it is securely encrypted and is only available to its owner, and in traditional online casinos all funds can be blocked in case of the appearance of suspicious requests.
  3. Ability to place minimal bets. The described virtual currency thanks to its structure is able to be divided into small parts, which is very convenient when placing minimal bets up to $ 0.0001. It is very convenient for players, especially during the first game for real money when there is a risk of losing it.
  4. There are no commission fee percentages or they are very small. In any gambling establishment it is required to conduct transactions through payment systems, which, in fact, are intermediaries between the user and the casino. In bitcoin casinos all calculations are made on a direct basis, and therefore commission fees are not paid.
  5. Bitcoin casinos do not depend on the legislation of the country in which it is located. Governmental authorities of many countries prohibit gambling, and hosters simply block the emerging gambling websites. Bitcoin casino software with an integrated cryptocurrency protects the gambling resource from blocking, as it does not depend on legislations and state authorities, because the digital currency bitcoin is not registered in the state systems.
  6. Bitcoin casinos have excellent prospects. After the introduction of cryptocurrency into online casinos, there has appeared a need to attract new players who, like all people, are somewhat afraid of innovations. For this purpose, companies began to open divisions of marketers, who develop promotional projects. The most important thing now is to optimize the equipment and services for players.

What do bitcoin casinos give to operators

The expenses of bitcoin casinos owners are significantly lower than in a traditional gambling business. Given the fact that the bitcoin business is not yet very wide-spread, for new casino owners, who work with bitcoins, it will be easier to promote their gambling establishments while the competition is not very strong.

  1. Expansion of the gambling market. Today there are thousands online casinos in the world, and they constantly extend their offer in order to survive in a very competitive environment. However, in order to create bitcoin casino you will need to form a separate segment of players, who want to try the game under new conditions.
  2. No commission fees. This is a great advantage of bitcoin casinos in comparison with traditional gambling establishments, as it has an ability to carry out transactions without commission fees and offer attractive coefficients that can increase players’ profits.
  3. Operations with bitcoin do not mean chargeback. Let us remind you that owners of bitcoins are anonymous, which means that transactions are made with no hope of a return. In bitcoin casinos payments that were made by players can’t be returned, and it is also quite beneficial for casino owners.
  4. Bitcoin business does not need any license. Bitcoin is not a state monetary unit yet, so you won’t need to receive any permission or a gambling license.

Operations with this cryptocurrency are made instantly – you do not have to wait until the player's funds are deposited. In short, the bitcoin has already proved itself in the gambling market as an ideal currency that can attract wide audience.

How to Create a Bitcoin Casino?

A digital currency bitcoin is already functioning actively in the gambling industry, and the number of participants of the market, who are interested in how to create bitcoin casino, is constantly growing. But still you should remember that the virtual currency and all transactions with it are at the initial stage of development, so not all providers are able to work with it.

When choosing developers it is better to focus on those, whose portfolio contain already completed projects of this kind. It should be asked how many years a company is engaged in the production of bitcoin casinos, what reputation it has at the market, and what partners can say about its work. Particular attention should be paid to the main product – bitcoin casino software.

Bitcoin online casino software

Partners are offered two types of creation of a bitcoin casino:

  1. Integration of a bitcoin casino script, and in this case the usual software works in parallel with the bitcoin financial system.
  2. Installation of the fullfledged bitcoin casino software where all programs are already created with consideration for bitcoin calculations.

Bitcoin Casino From Slotegrator

The well-known gambling company Slotegrator offers its partners the top-quality bitcoin casino software and other services related to the integration of cryptocurrency into the casino platform, including the bitcoin business.

Slotegrator’s offer consists of:

  1. Provision of a server, which is located on a stably functioning and secure hosting with excellent bandwidth capacity. The server will run smoothly 24 hours a day.
  2. Development of a gaming site. Professionals from Slotegrator will create a website taking into account your individual requirements, and this website will have a unique design that will attract even more users to your casino.
  3. Installation of payment systems. Partners receive a ready-to-work financial mechanism with the already integrated digital currency bitcoin, through which you can manage all monetary transactions.
  4. CMS-management. All segments of your website will be completely under your control.
  5. Connection of games to bitcoin. Slotegrator switches all casino games to bitcoin calculations that have been developed by the best providers (Endorphina, iSoftBet, BetSoft Gaming and others).

Prospects of Bitcoin Casinos

Experts believe that the virtual currency will continue its procession across the world in different spheres of action. The bitcoin business will continue to develop, and also they suggest that each branch of the economy will sooner or later decide to turn to the e-currency.

However, we should not forget that the cryptocurrency is still not recognized by authorities of many countries. Government bodies simply do not know how to treat it, and some financial analysts even claim that virtual currency will destroy the economy.

Positive aspects of the bitcoin, which can be expected in the near future

Scientists believe that after a while bitcoin will be introduced into various areas of the industry.

The head of the Taurus Vision company Tim Frost said that the cryptocurrency can become a powerful financial alternative, which will help many people to avoid situations resulting in the loss of funds because of the inflation, since the remaining currencies are not stable.

Another top manager, a representative of the Bitcoin Foundation, Mr. John Matonis, expressed an opinion that investors have not fully appreciated the growing possibilities of bitcoin yet, but after all, its value can reach $ 10,000. Experts concur in one opinion: the blockchain formed by the bitcoin really has a great future.

Specialists of the company Online Casino Market offer you to buy bitcoin casino software for the introduction into the online casino platform of. Here you can also buy a bitcoin casino script in order to integrate it into the existing casino software. Most experts are sure of the fact that the creation of a bitcoin casino is now a very profitable business, and they even call bitcoin a trend of the gambling market.

Written by

Karen Fill

Gambling business expert at Online Casino Market

11 june 2017