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Propelling Online Gambling To New Heights Via Cryptocurrencies & Blockchain Technology

Propelling Online Gambling To New Heights Via Cryptocurrencies & Blockchain Technology

Ever since the first internet-based gambling sites went live in the mid-’90s, the gambling industry has cemented itself as one of the few industries that continuously embraces innovative technology to meet the ever-changing consumer demands. So, the fact that online gambling businesses are rapidly adopting blockchain and cryptocurrencies shouldn’t come as a big surprise.

From its humble beginnings, the gambling industry has fashioned itself into a billion-dollar industry. According to the market data from Grandview Research Inc, the online gambling market is forecast to register a compound annual growth rate (CAGR) of 11.5% during the forecast period, 2020-2027, reaching $127.3 billion by 2027.

Online Gambling Platforms Expand Their Footprint

The introduction of blockchain technology and the rise of bitcoin casinos have played critical roles in the meteoric growth of the online gambling industry. With more and more gambling sites readily accepting cryptocurrency deposits, the industry has become more open and easily accessible. 

Unlike casinos that deal in fiat currencies, bitcoin gambling makes it easy for players and casinos to handle real-time transactions without the need for intermediaries or third-party payment services. Additionally, the underlying blockchain technology ensures transparency, privacy, and security at bare minimum costs compared to fiat-based systems.

Since cryptocurrencies are globally acceptable, interested players can readily partake in online wagering without any geographical restrictions. For a long time, stringent regulatory policies prevented players in certain countries from entering the online gambling world. Yet, because bitcoin casinos are decentralized and operate globally, it is increasingly straightforward for anyone anywhere in the world to quickly register and try their luck.

Furthermore, due to the COVID-19 pandemic, online gambling platforms witnessed a surge of new users, primarily driven by financial, social, and psychological crises. As the number of blockchain-based gambling platforms swells, platforms are diversifying the online gambling arena by introducing new opportunities like sports betting, online slots, card games, and more. This diversification is also one key contributor to the widespread influx of new users into the online gambling ecosystem.

 

Transforming Online Gambling With Fresh Features

Owned by the Nexus Group Enterprises Casinos, FortuneJack, a bitcoin casino with a vast range of games and sports betting, stands out as the creation of visionaries who recognized the immense potential of blockchain technology when it was still in its infancy.

Developed and maintained by top software professionals, FortuneJack offers among the most innovative and secure online gaming experiences available in the market. The platform is designed to suit the needs of newcomers and experienced players alike, with a friendly user interface alongside the underlying security, transparency, and anonymity of the Bitcoin network.

Unlike other bitcoin casinos, FortuneJack offers dozens of games to choose from, including slots, table games, sports betting, dice, video poker, and provably fair games. Moreover, the platform has added a sportsbook feature, allowing players to bet on 24 different sports, with the markets ranging in size and quality depending on the sport’s popularity. 

Another exciting aspect of the FortuneJack Casino sportsbook is its Premier League competition, Majestic 7, which is free for FortuneJack Casino users to enter. Participants need to select the goal scorers for every match over the ongoing games each week to win up to 1 BTC worth of sports bets if they can guess all seven scorers in a week. 

FortuneJack also offers a live betting section, with a massive selection of in-play markets and its unique sportsbook feature, Matchmaker, which allows players to match up pairs of teams playing in separate fixtures. The Matchmaker feature is the first of its kind and is only available from the FortuneJack platform, enabling players to match together two teams from unrelated games and pit them against each other via a sports bet.

The platform also guarantees fairness and security via provably fair games. Built using blockchain technology, FortuneJack implements provably fair games to revolutionize online gambling for participants in a way that wasn’t possible earlier, including fair play, accountability, anti-cheating, immediate payouts, and public ledgers.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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