No Result
View All Result
Advertise
Submit a Press Release
Contact Us
Coindoo
  • Cryptocurrency News
    • All
    • Bitcoin News
    • Cardano News
    • Ethereum News
    • IOTA News
    • Litecoin News
    • Ripple News
    • TRON News
    XRP price prediction

    Ripple (XRP) Price Prediction and Analysis in January 2021

    PayPal

    PayPal Plans to Perform Crypto Transactions | Will It Get Bitcoin to $15.000?

    Sports News Apps

    The Best Classic Sports News Apps to Keep You Up-To-Date

    wire act

    What the Wire Act Means for Cryptocurrency

    cryptocurrency apps

    Cryptocurrency Apps Every Trader Should Have in 2020

    BitFlyer Brave

    Japan’s Biggest Crypto Exchange Partners with Brave to Launch Wallet

    Trending Tags

    • ethereum
    • ripple
    • Tron
    • bitcoin
  • Analyzes & Reviews
  • Guides & Tutorials
    Bitcoin casinos

    Most Common Coins Used to Play at Bitcoin Casinos

    crypto casinos

    Was 2020 the Year of Crypto Casinos?

    crypto signals

    How to Use Crypto Signals to Earn Money?

    online

    The Best Cryptocurrencies You Can Play in Online Casinos

  • Events
No Result
View All Result
Coindoo
No Result
View All Result
Home Blockchain Guides & Tutorials

Will the Regulated US Online Gambling Market Embrace Cryptocurrencies?

Ionela C. by Ionela C.
October 15, 2020
in Blockchain Guides & Tutorials

The use of cryptocurrencies in conventional industries is on the rise as more and more people are introduced to innovative blockchain technology. Among the numerous industries embracing cryptocurrencies today, online gambling is at the forefront.

The iGaming industry stands to gain from the anonymous, decentralized, and transparent qualities of blockchain and the developments could not have arrived at a better time.

With the US Supreme Court overruling the age-old PASPA, terming it unconstitutional, many states have opened their doors to online gambling. Thus, increasing the demand for alternate payment methods. Visit NJPunter for the complete list of NJ gambling sites that accept cryptocurrencies.

6 Major Perks of Adopting Cryptocurrencies for iGaming

security

1.    Security – Data security is perhaps the primary concern with online transactions. Cryptocurrencies can solve this problem thanks to the unique blockchain architecture which makes data tracking impossible. Standard payment methods like credit cards and wire transfer require information stored on private servers, which are susceptible to being hacked. The only caveat is people are responsible for the safekeeping of their crypto wallets.

2.    Anonymity – There might be various reasons for a person wanting to remain anonymous while gambling online. Safety and security is a major concern, followed by the fear of societal disgrace. Traditional transactions do not offer this luxury. Cryptocurrencies hold the edge as these transactions are impossible to track.

3.    Regulations – iGaming is subject to local and federal regulations. While some countries and states allow wagering on certain games, others aren’t as lenient. Depositing and withdrawing to and from your gambling account is a hassle, and the government keeps a close watch over such transactions. Cryptocurrency is a godsend for people residing in such regions. Crypto transactions render such regulations useless since these are truly anonymous.

4.    Easy Deposit and Withdrawal – Conventional transactions are time-consuming and cost a bomb in fees. These inconveniences help governments monitor gambling activities in the region while offering players an additional layer of security. Traditional transactions can take anywhere between 24 and 48 hours depending on the agencies you choose to deal with. Crypto payments, on the other hand, are instant! But make sure you don’t make mistakes since these transactions are irreversible.

cryptocurrencies
Source: Weststein

5.    Tax Savings ­– Being anonymous, crypto transactions don’t fall under the purview of income tax. Depending on where you stay you can save within 35% – 50% of your gambling income by dealing in cryptocurrencies. With the absurd number of jackpots on offer, pretty sure not everybody would want the taxman to find out!

6.    Protection Against Collusion and Bots – A few crypto casinos claim to have cracked the code against colluding players and bots, which are major inconveniences for regular casino players. Some crypto casinos further claim an upgraded RNG system, which increases the player’s chances of winning.

Featured image: NFForge

Tags: blockchain technologycrypto casinoscryptocurrenciesiGamingmediaonline gambling
Ionela C.

Ionela C.

Related Posts

blockchain

Blockchain Trends: What Should We Expect From 2021?

by Lavinia C.
January 14, 2021
0

Blockchain technology has come a long way since the advent of cryptocurrency 12 years ago. Although the technology was first...

CoinRabbit Review: How to Profit From Hodling Your Crypto?

by Ionela C.
January 13, 2021
0

The problem with Bitcoin stashes in your crypto wallet is that you can’t use them if you have a long-term...

Bitcoin casinos

Most Common Coins Used to Play at Bitcoin Casinos

by Ionela C.
January 11, 2021
0

Over the past decade, we have seen a dramatic increase in the number of Bitcoin casinos. There are several advantages...

crypto casinos

Was 2020 the Year of Crypto Casinos?

by Ionela C.
January 11, 2021
0

One glance at the statistics published in a report by Statista shows there were over 47 million crypto wallets in...

crypto signals

How to Use Crypto Signals to Earn Money?

by Ionela C.
January 11, 2021
0

It is certain that every trader would like to know a secret thanks to which one could effortlessly multiply funds...

Load More

We Recommend

Top Rated Casinos
Bitstarz Casino

CryptoGames

1xBit Casino

Winz.io Casino

BitcoinCasino.io
Top Crypto Prices Provider
Crypto.com
Top Crypto Trading Bots
TradeSanta
Top Rated Exchanges
Crypto.com

Binance Exchange
Top DEFI Leaderboard
Crypto.com
Top Advertising Services
Coinzilla Display Network
Our Latest Reviews
coinbase review

Coinbase Exchange Review

Even if it has its flaws and controversies, Coinbase is a
Kraken exchange review

Kraken Exchange Review

The exchange is one of the most popular crypto trading platforms,
XRP.io wallet review

XRP.io Wallet

XRP.io provides a very easy to use and simple user experience.
View All Reviews

Editor's Choice

Blockchain Analyzes & Reviews

CoinRabbit Review: How to Profit From Hodling Your Crypto?

by Ionela C.
January 13, 2021
0

SwapSpace exchange aggregator

SwapSpace Exchange Aggregator Review: Supported Cryptos, Fees, Pros and Cons

trading

The Benefits of Cross-Chain Trading

August 28, 2020
Stratus

Stratus Redefining Social Media

August 24, 2020

5 Minutes of Blockchain & Cryptocurrency News!

We completely understand that your inbox is already full of junk emails. We promise that we gonna try to keep it clean by sending a daily newsletter with our latest news. You can always choose to unsubscribe to our newsletter if you're not satisfied.

coindoo icon
  • Contact Us
  • Advertise
  • RSS Feed
  • About Us
  • Partners
  • Terms & Conditions
  • Privacy Policy

© 2017-2020 Coindoo

The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

No Result
View All Result
  • Cryptocurrency News
  • Analyzes & Reviews
  • Guides & Tutorials
  • Events

© 2017-2019 Coindoo