Will there be more gambling with cryptocurrency in Great Britain in the future?
The gambling industry has reached new heights in recent years. Thanks to the pandemic that ravaged the world and forced all of us to sit at home more than we usually do. It is almost a matter of course that we have to find ways to entertain ourselves to avoid getting bored to death or walking on the walls because we were in an involuntary “house arrest”. Fortunately – and then we mean fortunately in capital letters, then we had the internet. Guess how many people around the world would have walked on the walls without internet access. Thanks to the internet, we have been able to both work and get entertainment during the pandemic.
Interest in online entertainment has increased
What we humans consider to be entertainment is very varied, depending on each individual’s preferences and desires. Some people are very fond of Netflix and Viaplay, for example, others like PS5, Xbox and PC gaming more, while others like a combination of entertainment and excitement in the form of online gambling. Some have also used the time during the lockdown to get acquainted with the latest big thing in the IT world – cryptocurrency. Some have also put so much into it and have started trading cryptocurrencies .
Without being completely assertive, we might say that interest in online gambling has picked up during the lockdown periods we have had. Several have found one of the many online casinos that abound online at the moment. Players who do not usually spend as much time on games and gambling have found that online casino and online gambling provide a lot of entertainment and at the same time kill the time during lockdown.
As everyone knows, the english e authorities have introduced very strict rules and laws for where gamblers can get an outlet for their gambling cravings. They try to get gamblers to play only on english e gambling games that are regulated by the state. But this is not what the english players are excited about.
Banks are not allowed to approve transactions to and from foreign gaming companies. Thus, it has become much more difficult for players here at home to make deposits with their english e bank accounts or bank cards. It got worse when the large e-wallets Skrill, Neteller and EcoPayz were also blacklisted by the english e-state for use on gambling sites. Although both banking transactions and e-wallets were restricted, there were still a few other options players could use, cryptocurrency and other new e-wallets.
We can say that cryptocurrency has gained enormous interest thanks to Bitcoin. With the growing interest in cryptocurrency among the people, it has slowly but surely been accepted by more and more industries, including the gambling industry. We see that there are several gambling sites that allow both deposits and withdrawals with crypto.
The advantage of using cryptocurrency online is that it is anonymous. Thus, it will be more difficult for the english e state to know exactly who is playing on foreign gambling websites. At the same time, the use of cryptocurrency is much easier than bank cards since you do not have to enter card details and at the same time risk that it can be misused by hackers. Some people probably disagree a bit when it comes to the simplicity between bank cards and crypto wallets since the key to any crypto wallet is quite complicated and consists of both numbers, lowercase and uppercase letters in random order.
There is no doubt that cryptocurrency has gained a firm foothold in society, despite the fact that many believe that there is not much time left for this hype, or that the bubble will burst. Today, you can find dozens of websites online that sell services or goods that accept cryptocurrency as a payment method. It has become almost common for people to use one of the many different cryptocurrencies on the market for everything from shopping to gambling. A couple of credit cards have even been launched that you can earn cryptocurrency by using that card for everyday trading. Had cryptocurrency not gained a foothold in society, it is unlikely that some large financial institutions and banks will accept and accept cryptocurrency, for example deductibles for mortgages or cars.
If we look back 5 years, there were an incredible number of people who were extremely skeptical of cryptocurrency, with Bitcoin at the forefront (including the undersigned). But now look at how things have gone with Bitcoin. The value of a single bitcoin now is absolutely incredible. Yes, there are large fluctuations in the bitcoin price, but this also applies to shares – perhaps not to the same extent as with bitcoin. Other cryptocurrencies such as Dogecoin and Ethereum have also gained traction and their value has increased, but not to the same extent as bitcoin. The exchange rate of these two mentioned is more stable, and it sees many who speculate on cryptocurrency, and thus many invest in these as well.
Traditional deposit methods pave the way for crypto
The main reason why we believe that there will be more gambling with cryptocurrency here in Great Britain is largely due to the laws and rules that we have. It is becoming increasingly difficult to make deposits to gambling websites with the traditional Visa and Mastercard bank cards that english e-banks issue to us, as well as the lack of one or more really credible e-wallets. Thus, this paves the way for the cryptocurrency, which many players on gambling sites have already found out.
The english state is now also trying to ban all transactions related to cryptocurrency. This means that those who want to buy have a slightly more difficult task of obtaining cryptocurrency. Difficult does not mean impossible.
Several people own cryptocurrencies
If we also look at the number of people who have a crypto wallet , we see that that number is constantly growing, and it will become more with time. Many people have seen the benefits of owning one or more of these, since several industries accept cryptocurrency as a means of payment. It is not only gamblers who use cryptocurrency anymore, but also ordinary people who may not have a cryptocurrency wallet for gambling only.