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With the immense popularity of online gaming platforms, it was just a matter of time before the traditional payment solutions of making deposits and cashouts gave their place to more modern and innovative options.
Along with many people being unable to sign up at UKGC-regulated gaming sites due to regional or other restrictions, the thirst for new and convenient platforms led to the appearance of crypto casinos. So, today, players worldwide have the chance to register and use cryptocurrencies while self-exclusion and play their favourite games online.Â
But why are cryptos becoming so popular in the gambling industry? What power do they possess? And how do they benefit your gaming experience at online casinos? We will unfold all these questions in the article.
Summary
GamStop vs. Non-GamStop Online Casinos – What’s the Difference
Before we go down and explore the key advantages of crypto gambling, let’s first understand the difference between GamStop and non-GamStop casinos.
In simple words, an operator that works independently from the UK Gambling Commission and is not included in the GamStop system is known as a casino not on GamStop (in other words – offshore site). GamStop is a special UK-based program that enables gamers to control their gambling habits with the help of a well-thought self-exclusion system. Once you register with this program, you will completely lose access to all gambling platforms within the system. The self-exclusion can be set on a different period – five years, one year, or six months.
What’s notable here is that even if the user regains control over their gambling habits, they can’t stop the self-exclusion until the end of the set period.
So, casino sites that have yet to join with the GamStop system have chosen a different path and work with entirely different terms. They are perfect for those gamers who like to have absolute freedom over their gambling activities. In addition, GamStop-free casino sites bring you more diversity and better payout potential. Also, at these casinos players can deposit and withdraw money using various payment options (including crypto, incentives, and so on.
And even though these operators are not a part of the GamStop scheme and are regulated by the UKGC, it doesn’t mean they are illegal. Most of these platforms work under the gambling laws of other jurisdictions and have credible licenses from such renowned authorities as the Curaçao Gaming Control and the Malta Gaming Authority.
Why Crypto Is So Popular: Key Benefits for Online Gambling
Globally, crypto gambling is on the rise. According to the recent data provided by SoftSwiss shows, the share of crypto bets grew in Q1 of 2023 and reached 30% in total betting. This means that there was a 19% volume growth compared to Q4 of 2022.
These stats perfectly show the constant growth and demand for crypto coins in the online gambling industry. Players can access numerous advantages by using Bitcoin, Ethereum, Dogecoin, Tether or other digital currencies at non-GamStop casinos. The key ones cover the following.
- Privacy and Anonymity: When you join online casinos with no GamStop and play for real money, you don’t have to provide your real full name. As such, you can easily hide your personal information and protect your privacy.
- Wide Accessibility: All you need to access crypto casinos is a stable Internet connection and nothing more. These sites are easily accessible across the globe regardless of local gambling regulations and restrictions.
- Instant and Handy Transactions: Due to the fact that there are no third parties involved in crypto transactions, all payments via crypto coins are nearly instantaneous. In addition, there are near-zero fees for crypto transfers, which is another great advantage.
Apart from all the listed perks, crypto payments can also involve some drawbacks. For example, digital coins are volatile, which means their prices keep bouncing up and down, causing some inconveniences for players. Moreover, cryptocurrencies are still undergoing constant changes despite the fact they have been around for years, and they can cause scalability issues.
To Wrap Up
Overall, the integration of cryptos by non-GamStop casinos has brought many colossal changes to the entire gaming industry. They make it possible for casino operators to reach a global audience and provide seamless payment options without limiting the use of traditional currencies. And all these with enhanced privacy, security, and anonymity.
In the following couple of years, you can expect to see even more online gambling platforms embracing the innovations and responsible gambling features of crypto payments. So, what we can confidently say is that the popularity of crypto gambling is not a temporary hype but rather a steady tendency that will surely become an indispensable element of the iGaming industry.
*This article was paid for. Cryptonomist did not write the article or test the platform.
