The gambling sector has evolved quite a bit since Chinese gambling houses allowed bets for fighting animals in the first millennium BC.
The gambling sector was outlawed in the USA by the early 20th century, giving birth to a huge growth of the mafia and other criminal organizations.
Nowadays, governments have allowed a softening in attitudes towards gambling and its regulations as the gaming industry is expected to grow by 12% per year. This growth story will be defined by many changes going from virtual reality, rising internet penetration, further developments in e-sports betting and of course blockchain.
What is Crypto Gambling?
One key difference between fiat betting and crypto gambling is the currencies that are used: instead of EURO or USD, you use BTC or ABET.
Crypto gambling uses peer-to-peer currencies and divides gambling into two types:
- Online casino’s that support cryptocurrencies support virtual currencies like Bitcoin and ABET;
- Online casino’s that are built on the blockchain offer more: not only do they support virtual currencies, but they also offer you anonymous membership, no country limitations, no ID verification’s, and no commissions. Furthermore, through the usage of Random Number Generated Games (RNG software), you can profit from fair solutions when betting.
Crypto gambling will define the future of gambling and play a key role in the growth of this industry. Increasing usage of smartphones and consoles with cloud penetration will do the rest.
ALTBET offers a solution for several big players in the industry.
ALTBET is the first platform that combines mutual betting with the power of blockchain. They have launched games such as Dice, Penalty shootout, Coinflip, Slots, Masternode lottery, Crash and Poker.
ALTBET is an open-source and offers private and low-fee transactions. Its blockchain uses the staking protocol to secure its network. The innovative seesaw reward mechanism balances the block rewards between the masternode holder (who receives 90% of the block reward) and the staking node holder (who receives 10% of the block reward).
The next wave of Bitcoin adoption is starting with massive billion-dollar investments in infrastructure and ALTBET is ready to help big gambling companies accomplish that for their industry.
To make that possible the ALTBET network had to be enforced by masternodes, full nodes or computer wallets that keep the full copy of the blockchain in real-time, and are always up & running. These masternodes come with a cost and thus receive a fair share of the block reward. They also offer the network and user extra services and extended security. As a bonus they have early access to selected games and events.
The ALTBET team has experience in several key fields to help big casinos and online gambling companies. This may allow companies that want to enter the crypto gambling sector to boost their revenues and on-board the future of gambling.
These are the ALTBET coins specifications:
Crypto Gambling Future.
Blockchain will change the internet as we know it and create possibilities and opportunities that are presently thought to be impossible. Blockchain developers are creating new digital currencies and these will benefit the gambling industry. Slowly but steadily, this new technology is entering our daily lives, often unnoticed by the broader public. Nevertheless, blockchain has successfully entered the gambling industry and the online casino space is being revolutionized. A small country in the EU, Malta, has embraced blockchain and is legitimizing the utilization of Bitcoin and other digital tokens in online casinos. North America will soon follow or lose market cap to other nations who push forward blockchain technology and work on standards and regulations.
ALTBET is one of the driving forces behind crypto casino and wants to be part of the revolution taking place in the sector. To achieve this they rely on their experienced team and active community.
If you are interested in more gambling crypto projects please read my other article here.