Online casinos aren’t anything new and in the grand scheme of things neither is Bitcoin, however, the trend of them both working together is definitely on the increase. Any e-commerce website has to do what it can to keep up with customer demand and the trend of accepting digital currency is one that online casinos have had to pay attention to for this reason.
Lower Transaction Costs
Although you might assume that running an online website is quite cost-effective there are several fees that online casinos have to pay attention to. One of those is the processing fees that occur whenever a customer deposits or withdraws any funds from the site. Although this might only be a very small percentage of the monetary value, if you’re an online casino that is processing thousands of transactions a day this amount can soon add up.
The cost for processing identical transactions with Bitcoin is often zero or at the very least much less than using a traditional currency method. As such, it makes sense that online casinos accept Bitcoin and other digital currency in a bid to save themselves some money.
Customers Really Like It
For any business to be successful, they need to listen to what customers want and keep up with demand. Bitcoin is increasing in popularity and as such more consumers are looking for online services where they can pay and be paid via Cryptocurrency. There are many reasons for this but the safety and anonymity of using digital currency definitely appeal to lots of people, especially those that live in countries where online gambling is still frowned upon.
Reaching a Larger Customer Base
Places such as Canada where some online gambling is still illegal have seen it become popular to use Bitcoin at casinos. If you live in Canada, you can use online casinos but it has to be on a website that is based outside of the country – hence by Bitcoin makes it nice and easy to fund your account and/or collect any winnings. We’ve seen a rise in the popularity of Bitcoin casino games in Nigeria where it has always been popular to top up casino accounts via mobile phone rather than debit cards. Although gambling in Nigeria is allowed many banks don’t allow gambling transactions to take place via their servers – which is why people who enjoy gambling within this part of the world have looked at alternative ways to fund any online casino accounts they have.
It’s a Great Marketing Tool
Capturing the attention of any potential customers and sales leads is essential when it comes to making any business a success – online casinos are no exception. The gambling industry is massive and its customers always want more. By being able to market your casino as one that accepts Bitcoin, you’re able to capture the attention of a whole new audience. Not only that, but casino goers tend to like forward-thinking and innovative casinos and as such, by telling them that you’re doing something new you’re immediately getting their interest.
Bitcoin and digital currency aren’t likely to be going anywhere soon. Although the mainstream media will tell you that the value of Bitcoin and its friends is very changeable, the reality is that it has the interest of many high profile investors and therefore is likely here to stay. As such, it makes sense that more online brands and industries start to offer it as an acceptable payment method, especially when you consider the cost-saving implications it can have too! No wonder casinos are starting to come around to the idea of accepting Bitcoin as a currency on their website and apps.