Dennis Stets

For more than 10 years, cryptocurrencies have been closely interacting with online gambling, bringing innovations to the industry thanks to the development of blockchain technology. One significant innovation is non-fungible tokens, or NFT (non-fungible token). Their popularity in online casinos and other areas has grown significantly over the past decade, and it is predicted that NFTs will reach a market value of $230 billion by 2030. Gambling experts claim that integrating this technology into the day-to-day operations of online casinos will allow them to maximize their potential and reach a new level of appeal.

The exceptional impact of NFT tokens on online casinos can be seen in the increase in the number of customers through NFT-based loyalty programs and other player benefits. Let’s try to envision how the future will interact with online gambling and NFT technology.


Briefly about NFT

Certainly, before diving into the current utilization of NFTs in the online casino realm and exploring their future possibilities, let’s establish a clear understanding of what these tokens represent. NFT stands for non-fungible token, indicating a unique and non-interchangeable digital asset on the blockchain. These tokens function as evidence of the authenticity and ownership of specific digital items, spanning from digital art and collectibles to in-game valuables and various other forms of digital property.

Indeed, each NFT carries a distinct identity, symbolizing irreplaceable digital assets. Anchored in the blockchain, every token is endowed with a distinctive identifier that showcases the owner in real-time, ensuring transparency and the seamless transferability of NFTs. The value assigned to a specific NFT is contingent on its scarcity, cultural significance, and additional elements like its functional utility.


NFT and gambling — where and how is it applied?

NFTs are already having a profound impact on the gambling industry, and these changes will be visible for many years to come. Let’s take a look at how these tokens are currently being applied.

NFTs as winning prizes

The advent of NFTs has significantly changed the structure of online casinos by introducing new approaches to gameplay. Developers started creating games that utilize unique NFTs instead of traditional cash prizes. Gamblers can now win NFTs in slots, as well as in table, card and other games, and then exchange them for real money. An example of this approach is the NFT MegawaysTM video slot from Red Tiger, which offers unique Crypto Punks characters as winnings.

Enter NFTs, offering players tangible ownership of in-game assets, such as characters, transcending the confines of a single game. This digital wealth can seamlessly migrate between various gaming realms or be sold, unlocking novel avenues for financial gain. The upshot? A more captivating and dynamic gaming journey for users.

NFT as a reward for loyalty

VIP programs at most online casinos offer rewards for active and big players. Instead of traditional bonuses such as free spins or extra money to the account, NFTs have revolutionized this approach. Players can now receive unique tokens that can later be exchanged or sold. Programs usually include several levels, and the higher the level, the more valuable NFTs a player will receive.

In addition, NFTs can act as tickets for special tournaments, contests and provide additional discounts. BC Game recently launched a unique NFT network called Degen Pass. Holders of this token get access to decentralized casino games, various prizes, VIP programs and a variety of in-game privileges. Among them are unique avatars and the opportunity to participate in jackpots.

NFT as a guarantee of anonymity and safety of players

With the use of cryptocurrencies and NFT, players have new means to secure their identity and data at online casinos. In particular, NFTs can be used as avatars, giving players the ability to keep their personal information private. Token transfers are also carried out without the need to disclose personal data, as all processes take place on the blockchain, keeping bank details and other sensitive information safe.


NFT and online casinos in meta-universes

Metavillages, accessible using VR helmets, are digital worlds where reality can be reimagined. In these virtual spaces, users can not only buy virtual real estate and interact with each other, but also visit virtual casinos where digital assets such as NFTs are used to participate in games.

In the meta universe, you can place bets using NFTs or even purchase an entire casino to set up your own business. However, since NFTs are a method of monetizing digital assets in meta universes, this can cause some problems.


Consider this: Flamingo Casino Club, an early entrant in metaventures, faced legal repercussions with cease-and-desist directives from five U.S. states. The casino falsely asserted its affiliation with Flamingo Las Vegas Hotel and Casino, enticing users with promises of passive income derived from casino profits through specific NFT purchases.

Despite the limitless possibilities of NFTs in the meta-universe of gambling, they face legal hurdles. How such casinos will be regulated and monitored remains an open question. The use of NFT for anonymous betting may lose its meaning if licensed establishments continue to require players to verify their identity.

Developing a legal framework for the use of NFTs in the online gambling industry could create the conditions for safe and legal interactions with digital assets. However, it is important to strike a balance between innovation and protecting the interests of players to ensure a fair and transparent gaming environment.



The permanence of non-fungible tokens (NFTs) in the gambling landscape signifies a substantial shift, promising transformative changes that extend beyond our current imaginations. It’s an exciting time as NFTs continue to reshape the very foundations of how we approach and experience gambling.

The incredible potential of NFTs comes for the next reasons:

  • The uniqueness of NFTs adds a refreshing twist to the gambling scene, departing from the uniformity of traditional bets. With NFTs, each token carries its distinct identity, making every transaction a unique experience. It’s a game-changer, allowing you to seamlessly blend the thrill of betting with the individuality that NFTs bring to the table. The fusion of chips and cash in your betting arsenal — now that’s a winning combo!
  • Indeed, the trust embedded in NFTs is a game-changer. The transparent ownership tracking on the blockchain ensures that whoever claims ownership can be verified. In the realm of online casinos, this trust mechanism offers a unique advantage. Casinos can leverage this to create a more secure and regulated environment, excluding players who don’t meet specific criteria, such as age restrictions. It’s a breakthrough, combining the benefits of anonymity with a blockchain-backed layer of trust.
  • NFTs bring a personal touch to the gambling experience. As the younger generation, Gen Z, becomes a significant player in the gambling world, catering to their preferences is crucial. The trend of personalization in marketing and services is on the rise, and NFTs open up exciting possibilities. From customizable wearables to exclusive VIP membership cards, the personalization options with NFTs are diverse. This not only enhances the gaming experience but also aligns with the evolving expectations of players.

Indeed, the rise of NFTs has coincided with the surge in popularity of play-to-earn (P2E) games like Axie Infinity and Crypto Kitties. The principles of GameFi, where players can earn real value through in-game activities, have captured the attention of the gaming community. It’s inevitable that iGaming providers will leverage these GameFi concepts to inject more thrill into the gambling experience. This shift could potentially reshape the landscape of the gambling industry, with players seeking platforms that not only provide entertainment but also offer better odds and tangible rewards. The convergence of NFTs and gambling opens up exciting possibilities for a more dynamic and rewarding gaming ecosystem.

The unique properties of NFTs, such as verifiable ownership and traceability on the blockchain, can contribute to a more trustworthy and secure gambling environment. As this shift unfolds, it’s evident that the impact of NFTs on the casino world is already underway, with the potential to redefine the way players engage with games, assets, and the entire gambling experience. The ongoing evolution promises a future where NFTs play a pivotal role in shaping a more dynamic, transparent, and rewarding gambling industry.

Mass cyberattacks are becoming a typical phenomenon for the cryptocurrency community, which causes serious concerns for investors. It is noteworthy that the activities of hackers cause not only financial losses, but also undermine the trust of users. Over the past year, the total capitalization of the global cryptocurrency market reached $2.4 trillion. In parallel, subject matter experts identified 306 incidents in 2022 (26% more compared to 2021) related to cybersecurity segment Web 3.0. Against their background, the total losses of community members exceeded $10 billion.

In the segments of cryptocurrency wallets, exchanges, DeFi and NFT last year there were 136 cyberattacks, resulting in user losses of more than $4 billion. The main types of attacks were: asset theft, vulnerability search, compromise of secret keys and phishing. It is worth noting that some cryptocurrency exchanges hid the hacks for months and even years, which undermined the trust of many users.

More than 40 major platforms have closed over the past 3 years after high-profile exploits. The hacks themselves were often accompanied by the theft of investment funds and it became a common phenomenon. It is noteworthy that on September 12, CoinEx was also subjected to a massive hacker attack. On its background, the criminals managed to steal about $70 million. Exchange specialists reacted promptly. On the same day, the possibility of withdrawing funds was suspended, and the assets were transferred to cold storage. Within the next 48 hours, coordination with peer-to-peer platforms was carried out to freeze the linked funds.


Already on September 14, the exchange released an official statement in which it was confirmed that the main reason for the hack was the compromise of the hot wallet key. On the same day, CoinEx CEO Haipo Yang made a public statement via X (Twitter), promising to promptly eliminate the consequences of the hack and provide 100% compensation to affected users.

Throughout the process, CoinEx promptly distributed updates via social media, community platforms, and website announcements, keeping users informed every step of the way. The platform eventually overhauled its wallet deployment mechanisms and resumed the ability to withdraw funds.

Compliance with cybersecurity standards requires collective prudence, as the crypto industry still lacks a clear regulatory system compared to the traditional finance sector. Notably, exchanges looking to scale face obstacles in the form of hacker activity and a global bear market trend.

CoinEx’s reliability, transparency, and accountability has clearly demonstrated to other crypto projects how to proceed should they encounter such incidents. To minimize the community’s concerns, representatives of the platform actively engaged with users, providing them with prompt information about the situation. The crypto industry is facing clear challenges, against which exchanges need to develop the appropriate qualities to cope with all the trials.


Hackers stole $2 billion less in 2023

The total amount of money lost to hacker attacks has decreased three times compared to last year. There has been a significant drop in the total amount of funds stolen by hackers from cyberattacks over the past year. According to DefiLlama, there were 75 incidents in 2023 with a total loot of $1 billion. This figure is significantly lower than the previous year, when attackers managed to steal $3.2 billion from 60 attacks. The trend now is toward more frequent, albeit smaller, hacks.

Interestingly, only 11 out of 75 attacks this year have stolen more than $10 million, indicating that hackers prefer smaller but more frequent attacks. This approach, experts say, allows them to remain stealthy and avoid excessive media attention.

Eric Jardine of Chainalysis emphasizes that it is important to remember the unpredictability of hacker attacks. Even if the total volume of production decreases this year, there is a risk of the situation changing due to one or two major incidents.

Experts also note that the decrease in stolen funds is primarily due to market factors, rather than hackers abandoning cryptocurrencies. The volatility of crypto asset prices plays an important role here.

Nevertheless, the crypto market has already been repeatedly criticized due to various incidents. It allows criminals to launder money and even fund illegal programs. Cybersecurity experts warn that the increase in small crimes could be a precursor to larger attacks in the future.

Jake Moore, global cybersecurity advisor at ESET, notes that cryptocurrency storage platforms, although they function like banks, do not guarantee a high level of protection. This is why they are becoming increasingly attractive to hackers.

According to Beosin, damage from hacks, phishing attacks and rag pools in Web3 approached $900 million in the last three months. That’s up from the first half of the year.

Immunefi also reports that the crypto market suffered $685 million in losses in the third quarter of 2023, a 59.9% increase from the same period last year. Despite the increase in total losses, the number of fraudsters has decreased, according to their data.

Decentralization, metaverse, cryptocurrencies, iGaming, independent financial systems – a few years ago, people who talked about them were considered almost crazy, but today they are our future. The era of Web 3.0 had arrived, Whether we like it or not – and we should have started to be interested in its basic principles and vectors since yesterday.

Web 3.0 or Web3 — is a new decentralized Internet where everything is built by users, owned by users, and managed by users. At a time when the Internet space is monopolized by large tech giants, Web 3.0 allows users to dictate their own rules.

At the intersection of technological advancement, Web3 heralds dramatic changes that could upend entire industries and redefine how people interact with digital worlds. This is not just an evolution, but a revolutionary change in the essence of user experience. Looking at the statistics, it’s clear that numerous industries are on the brink of substantial transformation.

The casino area promises to be particularly exciting – this sector is an optimal place to adopt Web3 top features and drive a wave of innovation by redefining the dynamics of user interaction. Nowadays the iGaming business prospers, with an estimated worth of $116 billion in 2017, projected rising to $128 billion by the year of 2023. It could be an outstanding results.


Among the main advantages:

  • Decentralization. Ownership is divided between developers and users;
  • Minimum of permissions or their complete absence. Each user has equal access to Web3 technology, without exceptions;
  • Own payment system. In Web3, all payments will be made using cryptocurrencies, and users will choose convenient payment methods. This will allow to move away from outdated payment processing tools;
  • Does not require trust. The absence of a third party will allow you not to rely on others, everything will be decentralized based on incentives and economic mechanisms.

Introduction to Web3

If you’re reading about Web3 for the first time, it can be difficult to grasp its essence right away. How can a network be decentralized? How can users exchange data without intermediaries?

This concept is based on the fact that the World Wide Web is currently a fairly centralized structure managed by corporations such as Google or Meta. They are the ones who prescribe the algorithms for what information to show you when you open your Facebook news feed or make a search query. In particular, these companies allow you to use their services for free in exchange for data about you: your interactions with content, digital habits, etc.

Later, companies use this knowledge to provide access to you to advertisers and, accordingly, to show you their promotional products. This business model is what Web 3.0 ideologues want to change. They believe that information can once again be exchanged from person to person, without the involvement of a third party, as it was in Web 1.0. Usually, an intermediary is needed to verify an action. However, it is possible to do without it thanks to blockchain technology.

Despite the fact that the first manifestations of Web3 in 2023 are already functioning, the idea has not yet been fully implemented. Currently, there are many different projects and areas around the concept of the decentralized Internet that businesses are actively investing in.

So, in 2023, Web3 will include the following components:

  1. Cryptocurrencies. These are digital currencies that are an alternative to traditional money that is dependent on the central government of a particular country. The most famous cryptocurrency is Bitcoin, created in 2009.
  2. NFT. This is a digital asset that can be exchanged or sold. It can be presented as a photo, music, video, or any other work of art. NFT is an abbreviation of Non-Fungible Token, which means “irreplaceable token”.
  3. dApps or Decentralized applications. These are decentralized applications that run on the blockchain and have a built-in mechanism for distributing data across the network. The most famous decentralized platforms are Ethereum, EOS, TRON, and others.
  4. Smart contracts. These are contracts in the format of program code written on the blockchain, which should become an analog of legally certified documents in Web3.
  5. DeFi or Decentralized Finance. This term covers a variety of online platforms that allow exchanging cryptocurrencies, obtaining loans in digital assets, and making deposits.

Introduction to iGaming

iGaming stands at the intersection of online gambling, presenting itself through websites and mobile apps. At its core, this sector offers users unrestricted access to online casinos, breaking free from the constraints of location or time. Gamblers can indulge their interests wherever and whenever they please.

Gaming, also known as Internet gambling, gained momentum in the 2000s due to technological progress and widespread access to high-speed Internet. Nowadays it’s experiencing heightened productivity, marked by the emergence of new websites, applications, and associated services. iGaming doesn’t seek to replace traditional casinos; instead, it supplements them, offering players additional features and options.

In the modern context, certain Web3 technologies possess the capacity to profoundly influence iGaming, introducing a revolution that extends beyond gameplay to encompass user management and transaction security. Cutting-edge web developments now facilitate the secure storage of player data, mitigating the risks associated with hacking and other forms of manipulation. The incorporation of blockchain technology elevates the security of online transactions, eradicating the necessity for intermediaries, cultivating trust among clients, and paving the way for innovative possibilities. Additionally, decentralization simplifies integration and communication across a spectrum of platforms, including online casinos.

Web3 not only presents unique possibilities for heightened security and reliability, but also instills a sense of confidence regarding the safety of player’s personal data and financial transactions. Overall, the potential of Web3 lies in enhancing the iGaming experience through advanced technologies and robust security measures.


iGaming & Web3 combined

Web3’s ascent provides abundant prospects for the iGaming realm, notably through the adoption of blockchain technology. This cutting-edge approach ensures transactions that are both secure and transparent, fortifying player data and upholding the credibility of iGaming platforms.

Web 3.0 introduces the capability to craft tailored gaming encounters via decentralized applications (dApps), streamlining direct player engagements. This pivot towards user data control signals a move to decentralization and self-governance, instilling heightened confidence in game integrity, especially in the domain of online casinos. Additionally, Web3 ushers in fresh prospects for iGaming by ushering in tokenized in-game assets and non-fungible tokens, enriching the overall player journey. In essence, Web3 sets a novel benchmark, championing equity and safety for every participant.

Web3 technology unveils fresh horizons for gaming, empowering the analysis of player behavior and delivering personalized gameplay. Moreover, Web3 facilitates seamless data interchange and player engagement spanning diverse devices, enhancing accessibility and convenience in multiplatform gaming. Ultimately, the integration of Web 3.0 has the potential to transform iGaming into a social venture, unlocking novel prospects for communities and interaction within the online sphere. Given the continual evolution and proliferation of Web3 technology, its substantial influence on the future of iGaming is unmistakable.

Cryptocurrency benefits for online casinos

Cryptocurrency is a digital currency used as a means of payment. The main advantage of cryptocurrency is that it does not depend on inflation and exchange rates, which makes it more stable. Besides, cryptocurrencies have a high level of security and confidentiality, which makes them attractive for use in online casinos.

Other advantages include:

  • Absolute anonymity of transactions;
  • Almost complete absence of betting limits;
  • It is impossible to block an institution that uses cryptocurrencies for payment;
  • 100% security of payments;
  • No losses on exchange rate differences.

Using Web3 technologies can determine the future growth and success of the iGaming industry.


Final thoughts

Given how rapidly this topic is developing, I am inclined to believe that this is a revolution after all. Two years ago, it wasn’t even talked about on the sidelines of iGaming and Web3 fusion, but now it’s one of the hottest topics.

To my opinion, the fundamentals of blockchain technology are perfectly suited for a great era of gamification where decentralization, security, tokenization and ownership can play a big part in changing the way we know gamification. We have a unique opportunity to observe and perhaps even actively participate in this development.


Artificial intelligence and fear of the unknown: what will Web 4.0 be like?

Everyone imagines Web 4.0 in different ways. Someone talks about complete decentralization in almost all spheres of life, someone talks about complete robotization. I am a supporter of the fact that the emphasis will be on the interaction of people with artificial intelligence.

Web 4.0 will open up two sides for us. On the one hand, there will be new opportunities, minimal or no censorship, decentralization, and new financial realities. On another – we will become too dependent on robotization. And when we talk about Web3, we understand that we can track all financial transactions in cryptocurrency with virtual casinos. In 4.0 the level of transparency, speed and reliability of communication on the Internet will increase several times.

Web 4.0 will be the era of augmented reality technologies, companies will reach a completely different level, and the virtual world will be integrated with the real one. The impact of technology is increasing every year, which affects the labor market and people’s psychological health. The transition from Web 3.0 to Web 4.0 will be much faster than the transition from Web 2.0 to Web 3.0. Only time will tell whether society will be ready to accept new reality… so what do you think?

Nowadays Twitch is one of the most relevant video hosting/live streaming platforms on the Internet. What was originally a means by which games could be “streamed” (i.e. broadcast to a crowd of people live) has now become a popular place where creators can share their thoughts and opinions on topics ranging from video games to online gambling, even to everyday life. Recently, Twitch streamers have been focusing more and more on gambling, especially crypto casinos. The rise in popularity has encouraged many gamers who would not normally find their way to a blockchain casino to try their hand at poker, roulette, blackjack, etc., all the while betting on cryptocurrency.

What are crypto games?

For those who may not know, we first need to understand what crypto gambling is. The name speaks for itself. This means simply gambling in which you use cryptocurrency to play. In recent years, this industry has been experiencing a real renaissance. As you can imagine, online gambling involves playing all your favourite games on a website. It is from online gambling that crypto casinos have evolved. Blockchain casinos are not much different from typical online casinos. In fact, the only real difference is that when playing cryptocurrency games, players place bets using cryptocurrency. Recently, these casinos have become very actual, especially because they are promoted by many online streamers on Twitch. Blockchain casinos emerged in the 2010s when online gambling, in general, wasn’t as widespread as it is today. However, in the last five years or so, there has been a significant surge in the popularity of both traditional and crypto casino websites. These platforms have undergone notable improvements, becoming safer, better regulated, and gaining widespread exposure. Despite these advancements, the rise of crypto casino livestreams on Twitch has sparked concerns for some individuals.

Twitch to ban live streaming of crypto gambling

With the surge in popularity of livestreams featuring crypto casinos, speculations have emerged suggesting that Twitch might enforce a ban. In other words, the company is considering a complete ban on any live gambling broadcasts, especially those that include cryptocurrency gambling. So, what prompted Twitch to ban these streams? Over the past couple of weeks, a number of Twitch streamers, some of whom are extremely popular, have criticised the platform for allowing these live streams to go unchecked. It was because of this criticism that the platform considered stopping these types of live streams. The idea is that the popularity of these streams is leading to more and more people getting hooked on crypto casinos and gambling in general. Many of the more popular influencers make the argument that blockchain casinos are dangerous and that most Twitch users are too young to use them. However, there are several problems with this argument. First, crypto casinos, like any online casino, have to go through a licensing and registration process. A license is only issued when a platform meets certain standards of safety, security, and fairness. This means that a crypto casino is just as safe as any other online casino or even a land-based casino, of course if it is licensed. So, if these Twitch streamers are broadcasting blockchain casinos with the appropriate licenses, there should be no problems.

WIRED research

WIRED published an article about the phenomenon of crypto-casinos and their cooperation with popular streamers, and we have selected the main points from it. Crypto-casino advertisements started appearing quite recently — since April 2021. One of the first streamers who agreed to participate in their promotion was Tyler Nicknam, better known by his nickname Trainwrecks. His channel now has over 1.5 million subscribers, and his broadcasts average 25,000 viewers each. He mostly streamed games like World of Warcraft, but since April, he has completely switched to crypto-casino Stake. Since then, he has been streaming up to twelve hours a day.

Tyler’s excitement can be explained by several factors. First, the recordings of his game broadcasts on Stake gather up to two million views. Secondly, he earns several hundred thousand dollars a day on bets. But the author of WIRED believes that his interest is mainly due to his contract with Stake: the casino pays him a lot of money for advertising the site. For this reason, Tyler even moved to Canada to avoid problems with the law.

Many streamers who advertise Stake and other similar casinos may also move from the US to other countries. The fact is that this business is illegal in the United States: crypto-casinos do not have a license to operate in the country. These companies are registered on the territory of Curacao and other island countries, so their owners do not have to pay taxes on profits.

American streamers have to log in to crypto casinos via VPN to get around the restrictions. So far, this scheme is working, but WIRED experts believe that soon these sites may be interested in the US authorized bodies. The owners of Stake and other crypto-casinos are not threatened, but streamers risk their freedom by advertising illegal gambling.

According to WIRED, at least 64 streamers from the list of most popular streamers on Twitch have been broadcasting their crypto-casino games. Most of them work with the company under an affiliate program. Twitch representatives claim that only the most reputable streamers who can “serve as role models for viewers” are included in the program. It was also recently revealed that streamers do not invest a dime of their savings in crypto-casinos. The owners of the sites replenish their accounts in case they lose, so that they continue to play. This was revealed by streamer Matthew Rinaudo, known by the nickname Mizkif. According to him, under the contract for each hour of broadcasting on crypto-casino he received 35 thousand dollars. At the same time, he undertook to broadcast ten hours of casino games for a month. In June 2021, Matthew refused to cooperate with the crypto-casino on moral grounds. I wasn’t spending my own money in crypto-casinos. Then my conscience woke up. That’s right. I felt shitty about the gambling ads. And I can certainly be told, “But Mizkif, you’re already advertising stuff all day long.” But if you buy some Dungeons & Dragons, you risk losing only 40 dollars and a couple hours of your time. And casinos are a different story. WIRED experts said that the management of Twitch should ban such streams. In their opinion, online casino ads could potentially harm any viewers, especially minors. However, Twitch rules do not prohibit the broadcast of gambling. Nevertheless, representatives of the company assured WIRED that they are closely monitoring developments and checking crypto-casino broadcasts. Perhaps they will be banned soon: Facebook and YouTube have already done it. But right now, streamers are still making millions of dollars from advertising illegal businesses.

Twitch reconsiders its position on gambling

For the past few years, live gambling streams on Twitch have been going unregulated. Only recently, following an outcry from the community, company has taken a strong stand against these cryptocurrency gambling streams. Twitch, on its end, has issued a statement indicating a possible reconsideration of its position on gambling in the future. This deliberation could potentially result in a complete ban on gambling content within Twitch streams. While many say this is not enough, others have issues with the new policy. Many make the argument whether Twitch should ban these streams. Obviously, the company has an obligation to stop this content related to unlicensed gambling, a policy that has been put in place and is being enforced. As for whether the company should ban all gambling, that is worth discussing. Ultimately, as we have said, all licensed gambling sites will require players to provide them with strong proof of their age. This means that these games are only suitable for adults. So, the question is, should we protect the interests of adults who want to try their hand at gambling? We do not have a clear answer, but it is definitely a trendy topic.

Closing remarks

Regardless of the ongoing debate, one certainty remains—there has been enough uproar to compel the company into a thorough reevaluation of its official policy. Twitch is taking significant actions, banning numerous streamers, removing videos, and demonstrating a heightened focus on the oversight of gambling content. Absolutely, ensuring a safe and secure environment for viewers is crucial. Twitch, as a platform, bears a responsibility to shield its audience from potentially harmful content, and that responsibility should extend to unlicensed casinos as well. Prioritizing user well-being is a key aspect of maintaining a trustworthy and enjoyable streaming experience. However, whether this should extend to safe, reliable, and licensed gambling remains a matter of debate.

The prevalence of online casinos embracing cryptocurrency is on the rise, with approximately every third blockchain transaction now associated with online gaming. The demand for cryptocurrency casinos among players is driven by their increasing appeal, attributed to enhanced privacy and transactional efficiency. The advantages of this payment method, including anonymity and swift transactions, contribute to its popularity among a majority of players. Why is cryptocurrency casino in demand among players and what are the pros of this payment method? Let’s figure it out!


Advantages of cryptocurrency for gamblers

First thing you should pay attention to when using cryptocurrency is fast payments. These payments are made without the intervention of third parties such as banks or other financial institutions. All transactions take place directly between the casino client and the employee. For this reason, all money transfers are processed quickly and without delays. Although, it should be noted, some cryptocurrencies have millions of clients. For this reason sometimes the processing of internal transactions can take longer.

The second thing that distinguishes cryptocurrencies from other systems is anonymity. In modern world blockchain technologies are commonly used to make the gambler feel as comfortable and at ease as possible when making any transactions. Therefore, all that can be learned about the player from the history of his monetary transactions is only the wallet address. The rest of the important information (full name, city, etc.) is carefully hidden from outsiders.

Also, the advantage of using crypto is that the commission on deposit and withdrawal can be very low. Or even free. This is due to the fact that the digital currency does not cooperate with any bank, so there is no one to pay the commission to.

An important factor is also the fact that all player’s crypto-wallets are reliably protected and attacking them is pointless and costly. Even for the most professional hackers. In addition, the wallet maintains a thorough history of deposits and transfers, so that a person can easily check all information about receipts and debits.

What problems can a cryptocurrency player face?

A common problem for most players is high price volatility. This is due to the fact that the rate of crypto depends on many factors and can change literally in one day. Most people understand that, but that does not stop them. Why? Answer is simple — the benefit of crypto easily prevails.

In addition, this digital currency has an uncertain legal status. In other words, the authorities of some countries still cannot understand how crypto should be treated, so they have not introduced any rules – both for and against.

The third and quite common problem is that most players are not ready for the change and use traditional payment options. Some explain this by the fact that they don’t have any trust in crypto — while others say that they simply don’t understand how it works.


What prospects await online casinos with cryptocurrency?

According to statistics provided by some online casino operators in 2023, blockchain accounts for 20% of the total number of payments. And the numbers are constantly increasing. Most independent experts predict that online casinos with cryptocurrency will further grow and develop in the market. Perhaps even when there will be a casino that supports only digital currencies.

The inclusion of crypto in the gaming platform is beneficial to operators for the following reasons:

  • Most players will look at casinos as modern and technologically advanced, keeping up with the times.
  • The online casino will be on a secure server and will be able to provide customers with all the necessary anonymity and keep all personal data safe.
  • For countries where casino gaming is banned, the use of blockchain in casinos is the only way to play your favourite slots, because the information about users will be carefully protected and no one will be able to find out whether a person actually played or not.
  • Every crypto transaction can be canceled and controlled.
  • The bitcoin casino will be located on a fully secure server and will be able to provide players with all the necessary anonymity and save all personal data.

Pros and cons of using crypto casinos

As mentioned earlier, the number of online casinos that support cryptocurrencies is growing. This is due to the fact that most players want to increase the money available on their balance. People who are going to open an online casino with crypto integration should know what are the pros and cons of this approach. So let’s continue.

According to statistics provided by some online casino operators in 2023, blockchain accounts for 10% of the total number of payments. Most independent experts predict that online casinos with cryptocurrency will further grow and develop in the market. Perhaps even when there will be a casino that supports only digital currencies.


The inclusion of crypto in the gaming platform is beneficial to operators for the following reasons:

  1. A player enters a free room with slot machines. The provider itself saves the results of your game session somewhere in the blockchain, and a few days later you continue to play the same game from the same place where you left off, but in a licensed online casino.
  2. All transactions carried out within the blockchain network are open for verification by all participants, but the anonymity of users is fully preserved. It is an ideal solution both for the state to monitor the real number of players in licensed halls and for the providers themselves. Such data in one safe place provides an incredible number of opportunities for analytics and product improvement without disclosing personal sensitive data of players.
  3. It also automatically removes the restriction of some countries that personal data of their citizens should be stored exclusively locally and not on servers of third countries. They position these decisions as a concern for the protection of personal data, but what could be safer than a distributed blockchain that simply cannot be changed or destroyed?

The future of online casino payment systems

Many experts believe that in the future crypto will become more and more common in online casinos and take a significant market share. The future of online casino payment systems will most likely be characterized by a combination of different options: from traditional payment systems to various cryptocurrency methods. However, despite the growing popularity of cryptocurrencies, traditional payment systems will still be in demand. Many players prefer to use the payment they are used to and do not want to learn new technologies. So it’s always up to you: choose a casino that provides modern payment methods as crypto or stay with classic systems.

Gambling has always attracted the attention of millions of people around the world, and now thanks to cryptocurrencies, this industry is experiencing a real revolution. We will look at how these innovative technology is transforming the gaming industry, giving us, both players and operators, completely new opportunities and benefits. For gamers, these advantages translate to increased privacy, quicker transactions, easier access, and enhanced security, ultimately elevating the overall gaming experience to a more enjoyable and dependable level. Meanwhile, for operators, the incorporation of cryptocurrency presents fresh possibilities to draw in customers, mitigate risks, and streamline business operations. Join us as we delve into this dynamic realm and discover how cryptocurrency is reshaping the landscape of online gambling. Embark on this journey with us to delve deeper into this captivating subject.


Cryptocurrency in online casinos: basic concepts

Before we look at exactly how cryptocurrency are transforming the gaming industry, let’s clarify the basic concepts behind this technology:

Blockchain technology

Blockchain technology is the basis of cryptocurrency. Blockchain is a distributed database that ensures reliability and security of transactions. All transactions with cryptocurrency are registered in blocks that are sequentially connected to each other. This ensures that transaction information cannot be altered or deleted, making the system extremely reliable for online casino operations.

Anonymity and accessibility

The utilization of cryptocurrency in online gambling offers a key advantage — the ability for users to maintain anonymity regarding their personal information. When establishing a casino account linked to a cryptocurrency wallet, players typically are not required to disclose personal details such as their name, address, or credit information. This inherent feature enhances the privacy and confidentiality of the online gaming experience.

Blockchain casinos will also ensure the anonymity of users in the future. Players do not need to provide their personal data during registration, which avoids the leakage of confidential information and provides protection against fraud. The data can be transferred to a specific authorization and data verification body, and this organization will give the game provider only your anonymized information. Anonymity also makes blockchain casinos accessible to players from different countries, even those where gambling is prohibited or restricted by law. Players can freely use online casino services without fear of sanctions from the authorities.

Speed of operations

The rapidity of transactions stands out as a primary advantage when using cryptocurrency. Transactions using crypto can be completed instantly, without the need to wait for confirmation from banking institutions or other intermediaries. This is especially useful for players who want to start playing or withdraw their winnings immediately.


Simplification of financial transactions

Since blockchain casinos can safely accept cryptocurrencies in the future, they can offer fast and secure financial transactions. The absence of intermediaries, such as banks or payment systems, will ensure low fees and instant transactions. Players will be able to deposit and withdraw funds from their accounts almost instantly, which provides convenience.

Minimum commissions

Many online payment systems and banks require a fee for conducting monetary transactions. In the case of cryptocurrency, fees are usually low or absent at all. This makes cryptocurrency beneficial for players who want to save on operational costs and for operators who can reduce the cost of servicing payments.

The integration of cryptocurrency tokens in online casinos ushers in a new era of innovation and security for both players and operators. This technology not only guarantees heightened security and privacy but also enhances the speed of transactions within the gambling process. These advancements have the potential to further propel the popularity of online casinos among players worldwide.

Higher security

One of the key advantages of blockchain technology is the transparency of information storage. Imagine that all your online casino sessions, game balances, and winning history are not stored on a single company server but are distributed over a p2p network in the form of a blockchain. Such information cannot be changed or deleted. In online casinos based on blockchain, players can track the movement of funds, check the randomness of game results, and monitor compliance with rules and license requirements. This creates an atmosphere of trust and confidence in the honesty of the online casino.

The use of distributed networks allows players not to be tied to any particular online casino! You can play any game wherever you want. Let’s give a live example of how to use it:

  1. A player enters a free room with slot machines. The provider itself saves the results of your game session somewhere in the blockchain, and a few days later you continue to play the same game from the same place where you left off, but in a licensed online casino.
  2. All transactions carried out within the blockchain network are open for verification by all participants, but the anonymity of users is fully preserved. It is an ideal solution both for the state to monitor the real number of players in licensed halls and for the providers themselves. Such data in one safe place provides an incredible number of opportunities for analytics and product improvement without disclosing personal sensitive data of players.
  3. It also automatically removes the restriction of some countries that personal data of their citizens should be stored exclusively locally and not on servers of third countries. They position these decisions as a concern for the protection of personal data, but what could be safer than a distributed blockchain that simply cannot be changed or destroyed?

Development of “fair play”

Blockchain technology contributes to the development and implementation of so-called “Provably Fair Games” in online casinos. These games use cryptographic algorithms to generate random numbers, which guarantees absolute randomness of results. Real random number generators do not use a mathematical formula but some “natural” chaos processes. For example, the dispersion of water vapor in a certain period of time, or the movement of vapor in a closed flask, and even more often even several types of vapor at the same time. One of the most famous examples of blockchain technology implementation in gambling is FunFair. This project uses Ethereum technology to create a decentralized platform where developers can offer their games. FunFair offers fast transactions, low fees, and game transparency for all participants. Another example is Edgeless, one of the first licensed casinos without any possibility to influence the outcome of the game. Edgeless offers a range of fair games that are based on blockchain technology and have no hidden fees or excessive return percentages in games. Players have equal opportunities to win, which contributes to greater trust in the platform.


Also there’s no argue, that in 2023 it is safe to say that the use of cryptocurrency tokens in the online casino world opens up endless possibilities for both players and operators. This innovation is not only transforming the industry, but also taking it to a new level of security, privacy, and speed. With their help players can enjoy the anonymity, instantaneousness, and accessibility of the game without giving away their personal information, while operators can attract more customers, reduce the risk of fraud, and manage their business more efficiently.

Every day, cryptocurrency tokens are becoming more and more popular in the gambling world, and it is an intriguing way to the future that will definitely continue to evolve. May your gambling adventures be exciting and profitable, no matter what payment methods you choose. I wish you successful and profitable gambling experiences, and always be a prudent and responsible gambler.


The future of blockchain casinos

Blockchain technology is expected to further penetrate the gambling industry, providing more benefits for players and platform owners. By implementing decentralized systems, transparency of operations, anonymity, transaction speed, and fair gaming, blockchain casinos are strengthening their market position and attracting more and more users. In the future, we may see even deeper integration of blockchain technology in online casinos, for example, the use of tokens for player loyalty or the use of smart contracts for the automatic management of bonuses and promotions. Such innovations can significantly improve the quality of services provided to players and contribute to the development of the gambling industry as a whole. Also, in the future, blockchain casinos may expand to the markets of countries where gambling is prohibited or restricted by law. This will allow players from such regions to access gambling in a safe and controlled environment, and may also lead to changes in regulatory policies in these countries. Blockchain technology has already had a significant impact on the online casino market, providing transparency, anonymity, speed of financial transactions, and fairness of the gaming process. With the help of blockchain, casinos are able to offer their players new and revolutionary gaming solutions, and players receive guarantees of security and fairness.

Final words

Recently, blockchain technology has been increasingly discussed at gaming industry conferences. No one will be surprised by games built using a decentralized database, but in recent years, major gambling providers such as: NetEnt, Novomatic, Microgaming etc. And when such giants get to any technology, it immediately becomes clear that this technology is not another bubble that will burst in 6 months (in the IT world it’s normal), but a promising vector for the development of the entire industry. Blockchain, as a revolutionary technology that creates decentralized databases, makes the gambling industry more transparent, secure, and accessible. Let us consider the main aspects of the technology in the context of its use in the gambling industry (online casinos and games for online casinos), as well as analyze live examples of its impact on the gaming industry. Good luck!