What is a crypto casino?

What is a crypto casino?

A crypto casino (or bitcoin casino) is essentially a regular online gambling platform with the ability to accept cryptocurrencies for payment. At the same time, it is not necessary that such websites only accept cryptocurrency.  Many bitcoin casinos accept both crypto coins and fiat currencies.

Today, experienced and forward-thinking operators are turning their attention to crypto casinos and there are many reasons for this. In this article, we will consider the advantages and disadvantages of launching a bitcoin casino, find out what is needed to open one, and also what turnkey bitcoin casino solutions are.

Advantages and disadvantages of bitcoin casino

Choosing a crypto casino brings iGaming operators many benefits. We are talking about the speed and transparency of transactions, protection from fraudsters, the anonymity of participants in money transfers, as well as demonstrating the commitment to new technologies to players.

Let’s dig into these advantages and talk about them in detail. 

  • High speed of money transfers

When it comes to gambling, transaction speed is critical. Players do not want to wait for a long time, either in the case of making deposits or in the case of withdrawals. Cryptocurrencies in this sense are an ideal solution, because transfers of funds on the blockchain network occur in a matter of minutes.

  • Transaction transparency and reduced fraud risks

All transactions on the blockchain network are transparent and publicly available. This is why money transfers in cryptocurrency are safer in terms of fraud risks. Money does not pass through intermediaries but goes directly from the operator’s wallet to the client’s wallet (and vice versa).

  • Anonymity of personal data and money transfers

Since cryptocurrency is decentralized and does not obey any financial or political institutions, data on its use does not go anywhere. This means that transfers in Bitcoin and alternative coins allow online casino players to remain anonymous and not share personal data.

It is worth noting that operators themselves still have to collect certain information about players, as this is required by the anti-money laundering policy. However, in the absence of compelling legal reasons (for example, suspicious user behavior), this data is not passed on to third parties and organizations.

  • The expansion of the customer base

The more payment methods a gambling platform offers, the more players it gets. From this point of view, the perfect solution would be to accept both crypto and standard government currencies for payment.

  • Attracting a young, technology-interested audience

Many rich and successful people today believe in cryptocurrency (Let’s take Elon Musk for example!). Some see the future in it. That is why online casinos that work with bitcoin evoke more respect and interest among a young, promising audience.

So, we have covered the pros of opening a Bitcoin casino, but what about the pitfalls? What are the disadvantages of accepting cryptocurrency?

  • Cryptocurrency ban in some jurisdictions

Some countries (especially Muslim ones) prohibit the use of cryptocurrency, which makes it impossible to offer bitcoin casino services in these territories.

  • Vague and changing legislation

Another problem is the permanently changing and ambiguous legislation regarding cryptocurrencies. Many countries cannot decide how to regulate this area, and therefore constantly change the rules of the game. This may also affect bitcoin casinos that operate in the markets of these jurisdictions or under their licenses.

  • Bitcoin price fluctuations

Cryptocurrency rates are unstable and constantly changing. This means that crypto casino operators need to be prepared for such fluctuations in both directions and be able to make all the necessary payments in the event of a sharp increase of the price of bitcoin.

  • Suspicious attitude towards alternative money

Cryptocurrencies scare conservative audiences. This is the other side of the coin of attracting progressive youth. Some players are distrustful of decentralized digital money and do not want to deal with it. However, adding classic payment methods to the platform will help solve this problem.

How to launch a bitcoin casino?

Now we understand what the pros and cons of a bitcoin casino are, but what needs to be done to launch it? First of all, we should note that the process is not much different from opening a regular casino on the Internet. Here is a brief algorithm of actions for the future crypto operator.

Step 1: Obtain a license

Secure a gaming license from a jurisdiction that supports cryptocurrency as a form of legal tender. This is essential for legal operations and to build trust with your players.

Step 2: Choose reliable software providers

Select providers known for their robust and scalable software products tailored for crypto casinos. Choosing a turnkey bitcoin online casino solution here can greatly simplify the process by providing a ready-to-use gaming platform that include integrated payment systems and a wide array of games.

Step 3: Integrate payments

Implement payment systems that support bitcoin and other crypto and fiat currencies. Ensure these are secure and allow for seamless deposits and withdrawals to enhance user experience.

Step 4: Add engaging and fair games

Stock your casino with a variety of games, from slots to live dealers. Ensure these games use certified random number generators to maintain provable fairness and transparency.

Step 5: Design a user-friendly website

Create an attractive, easy-to-navigate website that highlights your unique offerings and the advantages of using cryptocurrency. Ensure it is mobile-friendly to cater to players on various devices.

Step 6: Market your casino

Develop a targeted marketing strategy that reaches the crypto community. Utilize digital marketing, social media, and partnerships with cryptocurrency influencers to drive traffic and attract a dedicated user base.

Any potential crypto casino operator faces a difficult choice: go through all the stages on his own or resort to the help of experts. The most convenient and fastest way is to purchase ready-made online bitcoin casino software. Let’s consider this option in more detail.

Turnkey bitcoin casino software solutions

Among the companies offering ready-made software solutions for online casinos and sportsbooks, there are also those that offer their services to crypto operators. Thus, the Slotegrator team has been helping gambling projects (including иitcoin casinos) enter the market for many years. 

Slotegrator’s crypto casino software is engineered as a forward-thinking solution ideal for engaging cryptocurrency enthusiasts. It maintains all the functionalities of a traditional casino platform, including a diverse selection of games and promotional tools designed to enhance player retention. The software includes API integration for quickly adding games from leading providers in a single session. An individualized design can be crafted using the in-built Casino Builder module, allowing operators to target specific markets with a unique website appearance. The platform comes with integrated business intelligence (BI) reporting tools, a risk management system, an affiliate module, KYC procedures, and transaction monitoring capabilities. Additionally, it offers configurable loyalty programs and marketing tools to boost user retention effectively.

If you have decided to open a crypto casino or are thinking about it, contact Slotegrator for a free consultation.

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