The continued rise of Bitcoin gave way to the unexpected popularity of online Bitcoin casino sites. They are now competing head to head with land-based or brick and mortar casinos in terms of revenue. The main advantage of these highly modernized casinos is the convenience it gives to players; they can bet at the comfort of their own homes, without traveling for miles just to get to Las Vegas or New Jersey.

Additionally, the change in the laws of some countries and states allowed greater freedom for online casinos to operate. Add the benefits of Bitcoin to the equation and you wouldn’t have to worry about anything related to governments and hackers. Bitcoin is decentralized and allows anonymity so you can enjoy peer-to-peer transactions, or in this case, person-to-operators transactions without giving away personal information.

With all the issues surrounding Bitcoin online casinos and cryptocurrencies, let’s have an overview of all the information you need to know as a gambler.

Online Casino As Part Of The Industry’s Revenue

The UK Gambling Commission released the total revenue of its casino industry from April 2016 to March 2017. The biannual report revealed that casino products constitute the 56% remote gambling revenues of the UK with £2.6 billion Gross Gambling Yield (GGY). This means that online casinos, together with their massive collection of games and Bitcoin-exclusivity contributed to a big percentage of UK’S gambling revenue

Aside from the United Kingdom, other countries are also benefiting from the contributions of modern and online casinos to the overall revenue of gambling and casino.

Cryptocurrencies, Hard Forks, and Everything in Between

There are hundreds of cryptocurrency variations today. They probably have the same number as Bitcoin online casinos. The hard fork of Bitcoin, Bitcoin Cash, is slowly penetrating the market of online gambling. It is bigger and better than what Bitcoin can offer but don’t forget that it started and created with the original Bitcoin. This new currency is superior in terms of transaction speed and Blockchain’s size. It still promotes peer-to-peer electronic transaction but it now features 8MB blocksize limit that can allow 28-34 transactions per second or almost two million transactions per day.

Legality of Online Gambling and Cryptocurrency Usage

The state, New Jersey, is well-known for its casinos. When online gambling was legalized in 2013, the place has become a safe haven for casino lovers and operators who wish to make profit through Bitcoin and other cryptocurrencies. Add the revenue of land-based casino  to the picture and you will see the massive success of New Jersey. The online gambling market revenue garnered $20.75m in December 2017.

Aside from New Jersey, there are more states and countries warming up to online gambling and Bitcoin casino. However, we still have a long way to go, and people still need a proper education regarding these things.