For Canadians, the concept of online casinos is a relatively new one. After being legalized in Ontario in April 2022, the news has spread across quickly.
Growing influence of cryptocurrency
Alongside online casinos, another movement is gaining an increasing amount of traction. Compared to online casinos, cryptocurrency is relatively young, with its inception in 2009 with Bitcoin. However, since then, there are over 13,000 different cryptocurrencies in the world, although many are just sitting idle with no value.
Nevertheless, what once was a craze has transformed itself into an everyday currency with a growing number of uses. Crypto also features heavily in the digital realm, but its instability is potentially the reason why people are holding back on committing to using cryptocurrency.
Crypto casinos
Contactless payments arguably opened the door for payment methods such as crypto to become popular, with the QR code the next step in the evolution of contactless payment. Despite the fact cryptocurrency can be used in retailers and the purchase of everyday items, the real area for crypto to exploit is in the digital realm, with established trends such as online casino. The digital nature of both entities makes a partnership a match made in heaven, and both are continuing to mutually thrive and grow alongside each other.
Despite the fact the first Bitcoin casino, Satoshi Dice, was created in 2012 by Erik Voorhees, the unknown nature of crypto meant online casinos of this kind did not take off. However, fast forward a decade, and crypto casinos are emerging all over the online casino market. Popular crypto casino, Cloudbet, would not have got the same attention back in 2012. But with the cryptocurrency scene moving, and more understanding of the advantages it offers, more online casino platforms are incorporating cryptocurrency as a payment method.
DISCLAIMER: The information presented on this page/site is intended for entertainment purposes only. Please be aware that gambling entails inherent risks, and it's crucial to acknowledge this when utilizing online gambling platforms.
This sponsored content has been paid for by our sponsor and does not reflect the reviews and recommendations made by Victoria Times Colonist staff.
