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Blockchain and cryptocurrency are two of the most significant innovations to have impacted the world of casino gaming. While we have all grown so used to online casinos being the leading force in the industry, it is easy to forget that there were plenty of innovations that helped shape the industry long before the internet became so integral to the modern-day changes we have seen over the last 25 years.

Since the start of this decade, we have witnessed a significant shift in how people play casino games. While the mechanics of classic casino games remain largely the same, there has been a surge in platforms seeking to integrate cryptocurrency payment options and leverage blockchain innovations.

As cryptocurrency becomes more popular as a payment method and a way to play casino games, today, we are going to look at how it is altering the fabric of the casino gaming industry and what this could mean for the broader iGaming world moving forward.

Transforming Conventional Games

Casino slot games have often been the beating heart of the industry. Before the internet, they were spread across casino floors; in the age of the internet, they have become one of the main forms of marketing for new brands looking to attract a fresh stream of customers.

Playing at an slots casino online integrates all of these innovations, ensuring we can access games easily, whether we are playing on our phone, laptop, or PC. However, because it is a global industry, innovative fintech is breathing down the neck of those who design the games and platforms. So long as there is a broader market there, these innovations often find use within this vast ecosystem.

Riding The Wave Of Bigger Change

Blockchain’s innovation has been discussed on the internet since the early 2010s. However, it has been the reluctance of traditional finance and gaming companies that has caused BTC and other cryptocurrencies to hit a ceiling. It wasn’t until the recent bull runs we have seen, which have brought multiple financial institutions on board, that the broader potential of cryptocurrency has been realized – particularly in large economies such as the US.

From a retail perspective, many of us do not have the same level of wealth to shift the market, as institutions can. However, there’s been a surge in people, particularly on social media, looking to invest in memecoins and low-cap tokens, some of which have resulted in enormous returns.

While the majority of memecoins have not had the same sort of shelf life as Dogecoin in 2021 or many of the Solana memecoins during the most recent bull run, one thing this highlighted is the massive appetite for mass adoption from millions of retail investors.

Dogecoin was propped up from a low-cap coin to the top 20 by market cap. Elon Musk was a major driving force behind this, but despite the world’s richest man saying he’s going to put “Doge on the Moon” – he isn’t influencing the price in the same way.

There are several factors behind this, including Musk’s plunging popularity and the fact that it is much easier to influence the price of a smaller-cap coin than a memecoin that has risen by over 20,000% in a short period.

Altering The Fabric Of Casino Gaming

By investing in these coins, opening a crypto wallet, and getting to grips with the blockchain, the number of people seeking ways to use their crypto assets through products and services they recognize has increased enormously.

Casino gaming platforms were among the first to adopt blockchain and crypto payment options, and some current providers now have over a decade of experience handling crypto payments and blockchain systems. All of the games you can find at a conventional casino, you can find at a crypto platform. They have the same mechanics and approach to responsible gambling, ensuring people stay within their means and know how to set and manage time and deposit limits effectively.

The peer-to-peer nature of cryptocurrency means that you can buy your cryptocurrency and send it directly to the casino’s wallet. Unlike conventional casinos, which often require a range of KYC procedures and a bank in the middle, which can levy fees, particularly internationally, cryptocurrency can bypass a lot of this, so it is not a surprise to see it become so integral in the world of casino gaming and the broader world of betting.

The Future Of Crypto Casino Gaming

While cryptocurrencies will undoubtedly have a place in the world of casino gaming over the next decade or two, perhaps the bigger question is just how significant this influence will be. Some people believe that cryptocurrencies will become the leading payment method in betting over the next two decades.

Others believe it is currently in a golden period, and once the market cools and more robust legislation is enacted, we could see it plateau. However, it’s fair to say that blockchain technology is here to stay, it’s being integrated right throughout our society, and at multiple levels of casino gaming, and over the next few years, it’s going to be fascinating to see how this takes shape.