Casino, Poker & Sportsbetting with Bitcoin & other Cryptocurrencies
Online gambling activities such as traditional table games, video and classic slots, various types of poker, sportsbetting, lotteries and bingo all have their special place in the mobile gaming market. Activities such as sportsbetting and casino games arguably make up the largest portion of this market, so there is no wonder why online gambling with cryptocurrencies mainly Bitcoin is very popular especially as more and more online gambling operators accept virtual currencies in addition to accepting fiat currencies.
Gambling Market in Africa and Legislation
Online gambling activities using different virtual currencies is popular around the globe, but African players are among the majority of players who use cryptocurrencies for making wagers on different gambling activities. Africa is such a diverse continent with South Africa which is the ultimate leader when it comes to the online, especially mobile gaming market. South Africa is closely followed by Kenya and Nigeria. Despite the fact online gambling including mobile gaming in South Africa with the exception of horse race betting, sportsbetting and lotteries are not legal, South African players gamble online at some offshore websites and some international gambling sites.
On the other hand, Kenya has one of the most liberalized mobile gambling industries with almost every form of gambling allowed including mobile casinos, online gambling, sportsbetting, bingo, lotteries, etc. When it comes to Nigerian mobile gambling market, it is definitely on the rise as Nigerian gambling licensing authorities have granted their license to many online gambling venues. Besides these countries, African countries including Zambia, Uganda, and Ghana also have ever-growing online gambling markets.
Online Gambling Industry and Cryptocurrencies
Most people know about Bitcoin and other virtual currencies. Most people also know all about mysterious Nakamoto and Satoshi who proposed a new type of currency back in 2008. They proposed a truly decentralized virtual type of currency, Bitcoin which is not regulated by any regulatory authority and which does not have any ties with any type of financial institution or government. Bitcoin started a massive movement bringing a whole another currency concept which can be used in many ways for secure, quick and anonymous transactions. With the rise of Bitcoin and similar types of virtual currencies, more and more online gambling venues, especially in Africa, accept Bitcoin as a banking method.
Ten years since the introduction of Bitcoin, it is far from being the only virtual currency as new virtual currencies seem to be introduced on a regular basis as everyone is trying to jump on this massive bandwagon. The world of online and mobile gambling has been influenced by the introduction of Bitcoin and other cryptocurrencies such as Ethereum, Zcash, Ripple, Dash, Litecoin, Monero, Stratis, NEM and NEO which are the main Bitcoin competitors. Judging by what different financial experts think off Bitcoin and other virtual currencies, they are here to stay working on paving new ways for easy and secure transactions for many industries including online and mobile gaming industry as well leading to faster, more secure and anonymous transactions with no reduction in safety and security.
With many online gambling venues following the trend, players from all over the globe have an opportunity to pay for online and mobile gambling activities using virtual currencies without any issues. This payment method is widely popular on the African online gambling market, where players rarely use fiat currencies for paying. This is mainly due to fact that virtual currencies offer easy, fast, secure and anonymous transactions. Another reason is that players feel as their winnings are more secure. Instead of dealing with physical cash, they can easily add their winnings to their virtual currency wallet without any issues or strict regulations involved.
Benefits of Gambling with Cryptocurrencies
There are many reasons why players should hop on the bandwagon and embrace cryptocurrencies, especially with the mobile gambling market. Bitcoin and other altcoins act as your own international online casino chips you can use easily in order to move from one online gambling activity to another in matters of seconds without any worries regarding the security of your transactions. Using Ethereum, Bitcoin or any other virtual currency for mobile or online gambling definitely becomes a greatly obvious choice considering all the benefits these altcoins offer in comparison to those traditional banking methods.
Using altcoins for online gambling activities is way cheaper than using traditional methods. International transfers tend to be very expensive while Bitcoin transactions are mostly free. Another benefit is the anonymity you have. In order to engage in gambling activities using altcoins, you do not have to expose your identity as you send your documents, as these steps are not necessary when paying with altcoins. When engaging in online and mobile gambling activities with altcoins, you enjoy fast, easy and secure transactions that take several seconds while traditional methods such as wire transfers commonly take days. Online gambling is illegal in some countries, so those players are not able to engage in any type of online gambling activities. However, using Bitcoin and other cryptocurrencies you can gamble in those places as altcoins are not regulated by any government. The best part is, you have a massive gaming library available including hundreds of video slots, video poker, classic table games and much more also available for mobile gaming.