It’s absolutely crazy what’s going on in the Bitcoin and cryptocurrency markets right now, and gamblers have to love it too. The same goes for Bitcoin gambling websites that profit from all these hooples. As gamblers redirect earnings, they now have the capital to address some of Bitcoin’s most important braking challenges as we move toward 2021. In this post, we will seek to highlight those challenges and discuss what gambling operators can do to provide gamblers like you with better user experience and a better opportunity to walk away the winner.
Increasing access to mobile games with Bitcoin
The statistical website Statista.com estimates that today more than 3.5 billion people own a smartphone. Think about it for a moment. There are currently an estimated 7.5 billion people on the planet, and almost half of them have a smartphone. Of all these users, it is estimated that 2.2 billion people use their smartphones to engage in mobile gaming.
You can bet that quite a number of these users, especially young men, would be prone to throwing bets via an app directly connected to their phone. This presents an amazing opportunity for Bitcoin gambling websites. The problem is that most Bitcoin gambling sites, even those that existed in the early stages of the Bitcoin revolution, do not necessarily have an appealing experience in mobile applications to their customers.
Of course, that doesn’t mean gamblers who don’t use the mobile app don’t go to a computer to bet Bitcoin using a good old-fashioned web browser. But still, here is a great opportunity for Bitcoin gambling operators to come together and make it even easier to enter the game. The challenge here is to be that the ramps need to be directly connected to apps and operators, all in one place, so placing a bet is as simple as clicking your thumb on the desired Bitcoin gambling app.
That idea is probably another year or two away to really get caught up in the Bitcoin gambling sector.
Constantly changing regulatory environment
Trying to deal with regulators is something that has plagued both cryptocurrency and gambling for decades. The good news is that regulators are making progress in embracing gambling (especially in America) and in understanding cryptocurrencies and how providing access to investors is actually a good thing for the future of the global economy.
Nevertheless, there is no one way to universally approach cryptocurrencies or gambling. It is not that there is a global commission dedicated to the progress of both.
This means that Bitcoin gambling operators are left to their own resources when it comes to understanding where and how to do business. Where the part is the easy part. Most gambling places are licensed on islands like Gibraltar, Curacao, Malta, the Cayman Islands or the United Kingdom, for example. For gambling properties already operating in these places, embracing Bitcoin is more a matter of understanding the technology and how to integrate it through the wallet than it is a matter of regulatory issues.
However, no two countries are the same in access to gambling or cryptocurrency. If you are going to run a Bitcoin gambling website, you need to be prepared to understand the bureaucracy so you can figure out how to navigate it.
Explosive growth of direct and indirect competitors in games
Gamblers may or may not throw a little cryptography at a competition in e-sports or virtual reality. But the truth is, even if you don’t bet on e-sports, Bitcoin gambling websites still hope you choose gambling instead of spending money on consoles and games. Complaining about the potential earning a full time job as a professional video game player is becoming a reality for more and more players every year. Virtual reality offers a different dynamic with which the gambling industry is probably not yet ready to compete.
The bottom line is whether you gamble for a living or just for fun, the industry as a whole is always competing for your entertainment dollars. If you spend those dollars on virtual reality or video games, you’re probably spending less on gambling sites.
Nevertheless, 2021 brings with it a lot of opportunities for Bitcoin gambling operators to further strengthen themselves as a basic element of your fun life. The industry has progressed rapidly over the years and will continue to do so further and further. We hope you are on the right side of history as you continue your journey by gambling Bitcoin.
Let the winnings still be yours.