Crypto casino: all about Launching a Profitable International Business

The new tendency has not passed over the gambling industry as well. The participants in the gambling industry were among the first who considered the advantages of electronic money usage not controlled by any existing state. According to statistics, already by 2023, five out of ten gambling sites will work with bitcoin.

Crypto casinos: the history of bitcoin development in the gambling industry

The first crypto casino saw the world in 2012. The gambling location was created in the UK and was the property of an unknown investor. The site accepted only virtual money and offered a rather limited set of services: slot games with the simplest management process.

According to unconfirmed reports, the site is known as Satoshi Dice ("Satoshi's Ghost") brought its owner about 400 thousand dollars just for the first 9 months of operation.

In 2013, the site was sold for 126,315 bitcoins to an unidentified person. At that time, the amount was $12 million. At today's exchange rate, the transaction cost more than $50 million.

Crypto casinos: options for starting your own business

Among the modern variety of ways to open your gambling establishment, the following options are particularly popular:

Crypto casino from scratch

The most costly option, requires weighty baggage of knowledge, huge financial investments, and time. Launching a bitcoin casino like crypto wildtornado casino by your efforts involves a thorough study of the field, making a step-by-step business plan, analysis of competitors' offers, website development, signing agreements with software vendors, searching for partners, buying a license, advertising promotion of the resource and hiring staff to provide technical support for the resource.

The disadvantages of this method are obvious: the significant financial costs of each stage of the project with minimal guarantees of success.

Crypto casino script

This is the purchase of the "raw" code for the gambling site with the need for further refinement and adaptation of the program to the operator's goals. The script itself will cost very cheap - the price can range from a few hundred dollars. But no one will provide a guarantee that the code will work. Plus there will be the cost of buying game content, obtaining a license, and providing technical support for the portal.

Crypto casino: about the advantages of a cryptocurrency-based establishment

Owners of gambling locations give preference to bitcoin due to the following features and capabilities of the electronic currency:

Privacy

The bitcoin system allows you to maintain anonymity. If in classical online establishments every user is waiting for the registration procedure with the necessity to indicate personal data, then for bitcoin payments disclosure of personal information is not required. Visitors to entertainment resources no longer need to link a bank account to an account.

Minimum stakes

Bitcoin's unique property of dividing into record-small portions, allowing players to start playing with minimum amounts starting at $0.001. Crypto casino is always open to both big bet lovers and cautious players who don't risk parting with large sums.

Decentralization of currency

Any financial transaction with virtual money is an instant, irrevocable process that takes place without intermediaries. No electronic system or banking institution is involved in cryptocurrency manipulation.

Flawless protection against inflation

With no real issue, bitcoin simply cannot devalue. The money mark exists solely on the Internet and is not backed by real bills.

No tax reporting

Since cryptocurrency is out of the control of the state and tax systems, reporting for transactions and the total amount of virtual money in the user's wallet is not submitted to any authority.

Moreover, if the casino accepts only electronic money for payment, it can be opened even without having a specialized license. At the moment bitcoin is equated to standard currency on the legislative level only in a few countries.

Game without limits

Virtual currency is available for use regardless of the user's software. Bitcoin "feels great" on Windows, Linux, Android, and any other platforms is available anywhere in the world, and has no audience.