These days, the American online casino industry continues to drop jaws as well as wallets with its sheer profitability and all the avenues for enjoyment. Well before the rise of the American online casino scene, crypto casinos were already dominating the iGaming landscape. With so much excitement in America, it was only a matter of time before the iGaming demand had to bet.
And that’s where social casinos enter the scene and often steal the entire show. With social casinos in high demand, it was only a matter of time before crypto and social casinos began to team up. The purpose of this article is help you understand the incredible potential surrounding today’s social casinos and crypto.
Understanding Crypto Casinos
Before we get into the amazing marriage between crypto technology and today’s social casinos, we must first understand how amazing crypto casinos are. As we mentioned earlier, that before the rise of the American real money casino scene, crypto casinos had the most online players from America and around the world. Because many banks and credit cards don’t always accept casino charges, crypto casinos took off like a rocket because they use blockchain and smart contracts to manage their contracts.
As you can imagine, this precious type of anonymity caused American players to sign up in droves. Also, registering at crypto casinos often don’t require the same amount of personal information like at real money casinos. With this anonymity at the forefront, crypto casinos continue to surge and maintain a devoted following.
The Rise of Social Casinos
To help keep up the momentum of the dominant online casino scene, social casinos, since 2020, have been popping up by the droves. To better understand the importance of social casinos and how crypto is now tying into them, consider these key features.
A Unique Payment System
Because social casinos can’t accept cash for cash, all the sweepstakes casinos use a system of gold and sweepstakes coins. Now, here’s the fun part about where crypto is tying into social casinos. When joining online sweepstakes casinos, new members are granted with a no-deposit with heaps of free gold coins and a generous amount of free sweepstakes coins too.
However, the joy of playing at social casinos is the ability to purchase more gold coins to extend the welcome bonus, and that’s where cryptocurrency is coming more into focus. Depending on the particular social casino, there might be an option to use e-wallets like Skrill. However, the standard is Visa and MasterCard. The problem is that not all American banks and financial institutions support online gambling.
However, with Bitcoin and other cryptocurrencies like Litecoin and Ethereum entering the social casino payment gateways, the membership continues to go through the roof. With a trusted crypto wallet, social casino players can smoothly and swiftly use cryptocurrency to purchase gold coins while remaining anonymous at the same time. Gold coins are how players unlock exclusive games or move up through the social casino’s VIP loyalty system. This is one main way that crypto is becoming an invaluable friend to the social casino community.
Anonymous Registration System
Another way social casinos and crypto are uniting is through a more anonymous registration process. Before the rise of legal online casinos, American players breathed easier knowing they didn’t usually have to put their personal information, including their residential address. Fortunately, most of today’s social casinos follow the crypto casino blueprint for registration. For those who only intend to play with free gold coins, oftentimes they only need an email, a username, and a password to jump in.
The Redemption Process
Because social casinos can’t accept straight-up money bets, members don’t cash out like normal. Instead, the redemption process is used to process gift cards or convert the sweepstakes coins directly into cash.
Normally, bank transfer or Skrill is only available for the redemption process. Because this is a lengthy process, the newer social casinos are now beginning to implement crypto as a redemption option. Not only do players remain anonymous, but they can also receive their winnings sometimes on the same day.
Must Know
Navigating the expansive and ever-changing world of social casinos is a must for the future of online casinos. Available in over 40 states, it’s clear that social casinos are the direction of American iGaming. With crypto coming into the equation, it’s getting die-hard crypto casino members a chance to broaden their horizons at social casinos now that they are beginning to accept crypto.