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Updated 15 august 2024
Online casino,
Betting
Blockchain and the Gambling Industry
Statistics and Forecasts:
$19,36 billion
Global blockchain market as of early 2024
$160 billion
Forecast for 2027
+$1,76 trillion
Impact on global GDP by 2030
Cryptocurrency in Gambling
Advantages:
Transparency
Transactions are open, but players' data is protected.
Speed
Instant transfers.
Security
High level of encryption.
Anonymity
Only wallet number and digital key are required.
Geographical Accessibility
Transactions from anywhere in the world.
Decentralization
Independence from banks and government regulators.
Minimal Costs
No fees for most transactions.
Regulation
Legality of cryptocurrencies recognized in:
Progressive jurisdictions:
Blockchain and Game Fairness
Provably Fair System:
Uses random number generation to verify game results.
Applications in games: Aviator by Spribe and games by BGaming.
Advantages:
Increases players' trust.
Enhances customer loyalty.
Blockchain Game Boom
Features:
Use of cryptocurrencies and NFTs.
DApps for more dynamic graphics and special effects.
Attraction of investors like Forte ($930 million invested in blockchain games).
Key Conclusions:
- Blockchain is actively used in the gambling industry, ensuring security, transparency, and minimal costs.
- Cryptocurrencies and NFTs are becoming an integral part of gambling, attracting new audiences and investors.
- Regulatory bodies increasingly recognize the legality of cryptocurrencies in the gaming sector.
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