Also, in the online gambling sector, the number of platforms that accept cryptocurrency and, in particular, Ethereum (ETH) as a means of payment is growing more and more.
Cryptocurrencies and casino
Of course, the combo between the smart contract cryptocurrency par excellence and the online casino is minimal, but more and more platforms accept cryptos or use blockchain.
Just think of the already well-known variety of application fields involving Ethereum and how they have developed over time.
Decentralized Finance (DeFi), the Non-Fungible Token (NFT) market, and all those decentralized tokens and applications (dApps) that touch other markets are just a few examples.
That’s why some gambling platforms like BetWinner, FortuneJack, 7Bit Casino, and RocketPot have already started to venture into the world of cryptocurrency, choosing ETH.
Ethereum in online gambling today
A first possible reason why the market for Ethereum casinos has not already exploded is the difficulty (mostly regulatory) of integrating cryptocurrency into online gambling platforms that hold a public license.
In fact, at the moment, to top-up accounts are still much more used PayPal, Visa, and Mastercard, which offer payment methods in fiat currencies.
Currently, PayPal has entered the cryptocurrency world only limited to the United States.
Thanks to other intermediaries, such as Neteller, casinos that accept Ethereum are already a reality globally.
Gambling platforms that accept ETH and even BTC offer various games such as roulette, slots, craps, poker, bingo, blackjack, and even sports betting, all taking advantage of the benefits of cryptocurrencies.
Not only that, even the classic welcome bonus (usually given to new users after registration) or deposit bonuses (additional gifts based on the deposit made) can be provided by the platform in ETH format.
Next, then, Ethereum also responds optimally to the mobile apps of casinos, which are more and more used than the website format.
Expansion and Development of the Ethereum Blockchain
The numbers that the second cryptocurrency by market cap continues to register in the new sectors it has created and developed are record-breaking.
In the world of DeFi alone, today, out of a Total Value Locked (TVL) of $150 billion, $111 billion involves Ethereum blockchain-based projects and related ERC20 tokens.
Collectible tokens are also receiving staggering successes, with particular Ethereum-based NFTs sold at exorbitant prices, above $1 million.
Such as the recent case of the 400 ETH or $1.3 million spent on EtherRock’s NFT depicting clipart of a rock.
Not only that, but Ethereum also records success in its own technical development. Like the latest London fork this month, which occurred smoothly and intending to move Ethereum’s blockchain from a Proof-of-Work (PoW) to a full-fledged Proof-of-Stake (PoS).
Since the beginning of this month, the price of ETH is back above $3,000, a price not seen since May 2021.