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How Bitcoin is Influencing the iGaming Industry
How Bitcoin is Influencing the iGaming Industry

How Bitcoin is Influencing the iGaming Industry

When examining how Bitcoin is influencing the gaming industry, it’s a bit of a “what came first, the chicken or the egg?” kind of question.

While online gaming was certainly around long before Bitcoin, which was developed in 2007, many believe that it’s the gaming industry that has influenced and pushed along Bitcoin rather than the other way around.

What can’t be argued is the fact that these two entities have a very close relationship and rely on each other quite a bit in order to advance their dominance and products.

So, let’s take a closer look at some of the ways Bitcoin has made its mark on the online gaming industry, and how it will continue to do so into 2019.

Take a Look at the Online Casino Industry

One of the absolute biggest trends to hit the online gaming market in the past decade has been the rise of the online casino industry.

Where it used to be that people would need to head to a casino in person in order to gamble and enjoy all the traditional casino games, today it can all be enjoyed online.

The convenience is unmatched as people can easily use their home computer or smart device to play poker, blackjack, online slots, and a whole host of other casino games at any time and from any place.

It was only a few years ago back in 2015 that the traditional style Las Vegas casinos began to accept Bitcoin as payment for small items. It became more widely acceptable and suddenly things flipped and it was Bitcoin that started driving the deposits and withdrawals being made.

Developers are Turning to Bitcoin for Funding

Another interesting way that Bitcoin is driving the gaming industry is that developers are now looking at it as a way to fund their games. Entrepreneurs are discovering that Initial Coin Offerings (ICOs) are actually a great way to get their project that all-important first funding. If anything, it can help them get their game started and noticed.

A great example is Reality Gaming Group. This company was able to raise a whopping $3.5 million through an ICO and went on to create Reality Clash thanks to the funding.

The company’s founder figured it would be wise to embrace the funding avenue and thereby started offering investors the option to buy in-game weapons that could then be traded on the blockchain. It was an innovative approach that paid off.

Player Experiences are Seeing Improvement

There is also the fact that the player experiences are improving thanks to the blockchain. The technology is being used to make changes and improvements to the industry, in particular where security is concerned.

Online security is something that many people are aware of nowadays, all you have to do is take a look at the headlines in which Facebook has dominated this year thanks to user privacy issues, and it’s clear that people want to know they are safe online.

There Is No “Middle Man”

Then there is the fact that video games can now be released without a middleman if you will, which means the developer can connect with the players.

There is a huge number of players and developers that like this set-up much better and feel as though it puts them in control.

Stay on Top of the Latest Prices

Now, if you’re looking to get involved in cryptocurrency and start using it yourself, then you will want to stay on top of the latest prices. You can visit coins.live for live crypto prices.

Watch for the Trend to Continue

As we approach 2019, many experts predict it will be a more solid year for the cryptocurrency with less volatility and more stability.

What this means is that it will have a chance to move into the gaming industry even more, and help to push technology forward and improve the user experience.

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About StephanJ

Stephan J is the founder of Monetize.info and is making a living exclusively online since 2004. He tried and managed to make good profits on everything from Forex trading, options, website flipping, adsense, affiliate websites.His passions are cycling, fitness and he is spending a small fortune on watches and fine cigars

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