In 2015, bitcoin continued price volatility, but started to stabilize towards the end of the year. Bitcoin prices increased almost 40% in the calendar year, which made it one of the best investments of the year.
In fact, the price appreciation, along with some other stabilization, encourage many investors to fund more bitcoin casinos and bitcoin-related business ventures.
The main trends are mainly positive and will play a significant part in the proliferation of bitcoin casinos because the trends lines indicate continued momentum.
Generally, bitcoin continues to gain usage over time, which makes the cryptocurrency more secure over time and allows people to gain comfort with the digital currency.
So, what are the trends and how do they impact online casinos?
- Bitcoin Continues to Prosper as Payments Option
In the online casino market, payments are a critical part of the business model. Casino operators and participants need to have trust in the system. Both parties need to ensure that player accounts are funded, quickly and safely.
The bitcoin network satisfies the demands of casino operators and players because can fund accounts within minutes and operators can provide winnings within the same time frame. Bitcoin payments transfer almost instantaneously and with lower fees than conventional payment processors (like credit cards).
- Bitcoin Casinos Continue Growth Towards Mobile
All industries are moving towards mobile and the casino industry is no different. Many of the new bitcoin casinos are based on HTML5 technology because it allows the game play to operate on a variety of devices.
The underlying bitcoin technology has been leveraged by payments with mobile in mind. The necessary functionality to fund accounts are designed to be made via mobile devices. This allows players to maintain their gaming needs from whatever device and wherever they are located.
- Regulatory Concerns Continue to Linger
The online gambling industry is fairly controversial. Every state and country has different laws, rules and regulations that aim to curtail gambling. As internet gambling began to proliferate, governments struggled to adapt and provide legislation that met the needs of business operators and players.
For the most part, online casino operators regulate players based on the location of their IP address. Each operator maintains their own interpretation of the global regulations, but tend to rely on players to know the local laws. Bitcoin works well within this framework because the majority of online gambling regulation relates to using banks to fund accounts. Bitcoin does not operate within the traditional banking system and therefore, works within the boundaries of the regulations.
As bitcoin continues to gain momentum, it will be interesting to note how these trends continue within the market.