Technology is advancing and with it, many industries are going online. The same thing happened to the online casino industry; today we have many options where we can play our favorite casino games. However, that’s not the only industry affected – today we have a whole new currency called bitcoin. And with the occurrence of bitcoin, a lot of things changed, and now we have a whole new business called bitcoin casino. And if you are interested in starting your own bitcoin casino platform and business, here are a few things to consider.
Why choose this type of casino?
A lot of casino businesses have figured out that using crypto in casinos has many benefits. The benefits are on both sides – casinos and players. Cryptocurrencies are readily available worldwide, and bitcoin is certainly the most used one. And this level of accessibility makes it a lot easier to reach new players. Additionally, your business models are also vast with bitcoin casinos. You can set up your own platform for a casino where players can deposit their money in this currency, or you can do what LiveCasinoReports did – start a platform for crypto and regular online casino reviews. Additionally, cryptos bring another benefit – impossible tracking of players’ information in a secure and safe way, with low transaction fees.
Why do players love crypto casinos?
Fiat currencies are backed up by the government and that is why people turned to bitcoin and other cryptos – these are decentralised and all transactions are registered by a decentralised ledger. This provides safety and anonymity to people and that is why they love using them in online casinos. It is also difficult to tamper with this technology – blockchain – and people are guaranteed safety and low fees and deposits. And with more and more casinos going online, people are thrilled that they can play their favorite games without having to enter any of their sensitive information such as bank accounts.
How to get started?
If you want to start a crypto casino business, you have to know how to start. There are several stages when launching a blockchain casino, and they do not differ that much from the entire process of starting a traditional gambling platform. The stages you will have to complete include:
- Market analysis and finding your target audience precisely
- Composing exact and precise project requirements
- Ordering a development of your new crypto casino software
Of all stages, software development will be the most complicated part of this process. So, make sure to find a good and experienced development team to help you achieve your goals and visions. After you’ve found the team, make sure to pinpoint all the key features that your crypto casino will have. The features you might want to include are:
- Cryptocurrencies support
- Anti-fraud system
- Fiat multi currency acceptance and convenient payment options
- Real-time chats
- Live dealer games
- Random number generator – RNG
- Multilingual support
- KYC system
- Cross-browser and cross-platform compatibility
- Leaderboards and achievement badges
With all these features functioning properly, you are bound to have a successful crypto casino platform.
The next thing on the list is making sure your crypto casino is legal and legit. Unfortunately, there is no single answer to the question of crypto-gambling being legal or illegal and there are no specific mentions of laws that prohibit or allow this type of gambling. However, more and more countries are starting to look more positively at cryptocurrencies and their services, but still, no laws are introduced. If you do plan on offering other mainstream currencies, besides bitcoin, you will have to look into getting a license from a governing body such as Malta Gaming Authority, or licenses from Curacao and the UK.
Online casinos offering gambling in crypto are a new trend that has taken the whole world. Ever since casinos started operating online, more and more jobs and business opportunities have arisen, and even players are excited by this phenomenon. So, if you are one of those people who would love to start their own crypto casino, it is important to know all the steps that need to be taken. From getting the licenses to providing a safe platform, there is a lot to consider. However, with a good team and a strong business plan, everything is possible.
Please play responsibly. For more information and advice visit https://www.begambleaware.org