Using blockchain to address key problems in online gambling

The idea behind blockchain lends itself very well to online gambling. Problems that have plagued this industry since its inception are slowly being removed thanks to this new technology. Withdrawals from online gambling websites, which usually took days, can be reduced to a few minutes. Blockchain also offers the benefit of an immutable ledger. Things cannot be changed without other people knowing, so there is a greater sense of security.

Legislation is very important in today’s world. Even though crypto is still relatively early in its adoption phase, more and more companies are trying to operate through the proper channels and shed the bad impression that crypto previously held.

Tier 1 Gambling Licenses

CashBet is ahead of the industry right now in terms of legislation. They are not only licensed, but also hold two Tier 1 gambling licenses — UK Gambling Commission and Alderney Gambling Control Commission. These jurisdictions have shown the best standards of regulation, player protection, and licensee auditing over a number of years. Players can play at casinos operating in these jurisdictions safe in the knowledge that they will be given a fair game and an independent arbiter should a dispute arise.

Adoption of Cryptocurrency

To spearhead greater adoption by the community, partnerships are very important. Existing operators in the gambling space have begun to work with cryptocurrency opertors to offer their userbases greater choice in payment options. Greentube, WinViewGames, and Lottery.com have become early adopters and have partnered with CashBet and it’s Cashbet Coin (CBC) as one of the cryptocurrency payment methods.

Also, in a first of it’s kind deal, Cashbet Coin is the official crypto partner of Arsenal FC. Arsenal is one of the leading teams in the English Premier League and comes with a rich and storied history. Their reach to the general public is great, and should bring immense exposure to crypto.

Future of iGaming

Cryptocurrency and iGaming are a match made in heaven. One of the first use cases of crypto, specifically bitcoin, was in online poker sites as a form of payment and satoshiDICE. As competion rises from different platforms trying to outdo each other, we’ll see more and more operators, online or otherwise, take the plunge into crypto.

Christian Ng is an entrepreneur and investor with experience in cryptocurrency and global financial markets. He enjoys identifying opportunities and getting involved with blockchain projects to bring them to scale and profitability.