As leading players and crypto enthusiasts hold their breath for a mass crypto explosion in the financial world, the explosion may have already detonated in the gaming and gambling world. The blockchain is already permeating into every industry imaginable at a fast rate despite dismissive statements by some financial authorities calling it a bubble and a fading fad. In May of this year, a United States Supreme Court ruling paved the way for the legalization and mainstream adoption of sports gambling. This gave individual states the green light to come up with their own gambling laws, with Delaware and New Jersey taking the lead in implementing the sports gambling policies while other states are expected to follow suit.
This new acceptance of gambling has coincided with the growing integration of crypto-currency in gambling. The surging appetite for sports gambling has reached fever pitch in the United States with gambling dens and casinos sprouting in so many states today. There is also an increasing amount of awareness and adoption of crypto-currencies especially in the gambling world with most popular online casinos increasingly accepting Ethereum (ETH), Bitcoin (BTC), and other Alt-coins as payments. Startups are also beginning to launch online casino’s that exclusively accept crypto.
Crypto-currency can be a game changer in the gambling sphere with crypto allowing for decentralized casinos to pay users who want to cash out their winnings instantly. Crypto also provides the opportunity for users to place their bets anonymously and even possibly without providing any documentation of their identity, which is very attractive to most users. Integration of crypto into gambling will have no shortage of admirers with crypto offering increased security, anonymity and a decentralized payment system. Despite the obvious successes the gambling industry has enjoyed over the years, the major concern that has plagued the industry is that conventional online casinos have increasingly been on the spotlight in case important data such as gaming results, winnings, and payouts are intentionally concealed or partly hidden away from public scrutiny.
Blockchain technology is expected to weed all these problems out and reassure all stakeholders involved. The idea of integrating crypto to the gambling industry has attracted attention from far and wide. Billionaire, Mark Cuban, who is also the owner of the popular Dallas Mavericks, was reportedly impressed enough with idea that he decided to make a 25 million investment in the Esports gambling platform, Unikrn. Unikrn was one of the players who jubilated after the Supreme Court made a decision in favor of sports gambling, with Mark Cuban stating that Unikrn would be a great beneficiary in the prevailing environment. With gambling gaining increasing acceptance, consumers will only demand for more clarity and transparency which the blockchain will effortlessly supply.