In 2013, online casinos started adding Bitcoin as a payment option. Few internet slots players noticed, because cryptocurrencies were so under the radar at this point.
But the number of online casinos that are adding Bitcoin to their banking methods has grown greatly in the last couple years.
The reason why online casinos love Bitcoin is because it’s not regulated by banks and governments. Therefore, offshore casinos can offer their services to players all over.
This is especially useful for Americans and Canadians, who largely don’t have regulated online gaming markets that they can use.
More Cryptocurrencies Popping Up in Online Casinos
Late last year, Bitcoin popularity exploded as this cryptocurrency experienced a surge. The end result is that millions of new people started using cryptocurrencies.
Online casinos took notice and added more “altcoins” to their banking options. An altcoin refers to any cryptocurrency that serves as an alternative to Bitcoin.
As for internet gaming, some altcoins that have been popping up in casinos include Ethereum, Bitcoin Cash, Dogecoin, and Litecoin.
All of these coins are similar to Bitcoin in that they can be used as digital currency. But they each have slight nuances that make them popular alternatives to Bitcoin.
What to Expect from Cryptocurrencies in the Future
The altcoins that I mentioned above aren’t new to the cryptocurrency world. In fact, all of these and been around for several years.
But what’s new is that online slots players are now able to use these cryptocurrencies at more casinos. And this means that you have more crypto options than ever before to play online slots with.
As for the future, I imagine that online casinos like Bovada, Drake, and Miami Club will continue adding additional cryptocurrencies. This is especially the case as these coins begin to experience more mainstream adoption.