Online gambling is already a hit in Canada, so it’s perhaps unsurprising to see emerging sites that support crypto gambling gaining traction at the moment.
If you’re not familiar with crypto casinos, you might wonder why they’re seen as an attractive alternative to traditional betting sites. Keep reading to learn about what’s giving them a boost right now.
What are crypto casinos?
Rather than taking wagers and paying out in fiat currency, a crypto casino works with digital tokens like Bitcoin and Ethereum.
They also have games which run on the blockchain, which is the tech that underpins cryptocurrencies themselves.
You don’t need to be a coding wiz to get into gambling on crypto casino sites, because they’re able to offer the same well known wagering experiences as their traditional competitors. But it’s this association with the blockchain that makes them an interesting prospect to those in the know.
Privacy is part of the appeal
The first thing to note about many Canadian crypto casinos is that they let players maintain their anonymity when gambling.
Instead of needing to give over a glut of personal details to a business you might not trust with them, you can make deposits, place bets and initiate withdrawals almost entirely anonymously.
Security is exceptional
Another string to the bow of the blockchain is that it’s very resilient to cyber attacks and exploitation. This means you can confidently carry out transactions, knowing that your coins will reach their intended destination without being intercepted.
The same is not always true of standard payment card transactions, so those who are skeptical about the safety of using standard online casinos can rest easy with their crypto counterparts.
Speed is of the essence
Crypt transactions are not only secure, but also quick. There’s no third party payment platform standing between you and the casino, as instead you’re all using the same blockchain infrastructure.
If you’re tired of waiting for days for deposits to appear in your account, or for withdrawals to be processed, a crypto casino cuts right to the chase.
Fairness is enhanced
Standard casino sites don’t let players know what’s going on behind the scenes of the games they play. This means it’s tricky to know whether everything has been handled fairly when you spin the reels or play a hand of poker.
Because crypto casinos use the blockchain, players are free to check up on the outcomes of interactions after the fact. This increased transparency means that things are much fairer, as there’s no way for operators to disguise the tactics they’re using.
Another aspect of this fairness is that crypto casinos don’t have to cover the same costs as their fiat-based counterparts, and thus the return-to-player rates of their games are usually higher. That doesn’t mean you’ll win more often, rather that if you do hit a jackpot, it’ll be more generous and less diluted, which is more relevant at a time of high inflation.
Access is straightforward
Not everyone in Canada is able to access online casinos, but because crypto casinos are usually open to anyone from any part of the world, the typical restrictions don’t apply here.
You may of course be subject to local legislation which prohibits you from gambling online, even if crypto is involved, so make sure that you’re aware of your rights before you dive in.
The bottom line
Canada’s love of gambling is well known, and crypto casinos are well positioned to capitalize on this by introducing something new, fresh and player-friendly. It’s really just the beginning of their rise to prominence, so now is a good time to jump onboard.