Gambling is a game of chance that minimally depends on players’ skills, with its main purpose being to gain money or other material values. Gambling is restricted in many countries. As the use of virtual currencies has spread almost everywhere, cryptocurrency gambling has also become more popular among users. Because all digital currencies are decentralized, it seems difficult to regulate it in order to create a user-friendly environment in the games. Also, the decentralization of cryptocurrencies makes it almost impossible for governments to trace the use of money, because Bitcoins are stored on the players’ computers. There already exists some online games that accept Bitcoin with ability to exchange it for internal tokens or use it as the main currency of the game. Besides Bitcoin, there are also sites for gambling with Ethereum and other Altcoins. However, the future of cryptocurrency gambling is still uncertain.
Online gambling is a massive entertainment industry and blockchain technology is the next natural step of its development.
Decentralization of gambling industry will help achieve its full transparency
The NFT gaming market is growing by leaps and bounds as gaming regulatory bodies and traditional gaming corporations shun the ecosystem.
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The injection of additional funding will be used to facilitate Virtue Poker’s mainnet launch slated for May 2021.
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The bill already signed into law legalizes online sports betting in the state with bookmakers permitted to accept cryptocurrency deposits from bettors.
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Blockchain gambling and gaming projects have seen their token prices triple as the COVID-19 lockdowns alter the nature of entertainment.
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