The online gaming industry is growing to unimaginable heights as demand from gamers across the world grows exponentially.
Since the launch of the internet, online gaming and casinos have witnessed a global adoption. Anyone with an internet connection having the ability to play, engage and win from anywhere they are.
The online casino market, despite being heavily regulated across many countries, has witnessed massive growth in the past few decades.
A Fast-growing Industry
The online gambling industry is expected to grow from $64.13 billion in 2020 to $72.02 billion in 2021. That’s a compound annual growth rate (CAGR) of 12.3%.
Additionally, the market is expected to grow at a CAGR of 12% in the next four years – and reach $112.09 billion.
Despite the projected growth statistics, the global online casino market still faces a multitude of challenges as adoption and demand grows by the day.
As mentioned above, strict regulations surrounding the market still pose a huge barrier to market growth.
Notwithstanding, most of the gamers lack trust in online gambling as they think the platforms are not fair in their selections and a lack of transparency in wins and losses.
This could be the reason that has seen younger generations being less interested in online gambling compared to the other generations.
In an aim to bring back the zing to online casinos and gambling platforms, one project, CryptoSlots is introducing blockchain-based online casinos aiming to solve the pertinent issues on online gambling sites and boost demand from younger generations, who have a knack for cryptocurrencies.
The future of online gambling
Launched in 2018, CryptoSlots is a crypto-based online casino aiming to increase the fairness of online gambling and increase transparency in the market.
Backed by Slotland, the online casino is available globally on Android, iOS, and Windows devices offering over 50+ provably fair games.
The platform offers gamers and gamblers “unlimited crypto-gaming experience”, unlike the experience they get from traditional physical and online casinos.
Built on blockchain technology, CryptoSlots ensures that all games are provably fair, ensuring every winning and losing statistic is available to the gamers hence increasing transparency of the network.
This also allows online casino players to easily verify the randomness and fairness of all games available on the platform.
The Provably Fair system is a mathematical method that is used to ensure that no one, neither players nor casinos, can know the result of the game before it starts and that the casino cannot tamper with the random operation of the game.
CryptoSlots has a number of online casino games available for gamers to select from including slot games, mega matrix, poker, high limit, and jackpot entries.
The slot games are the most popular on the site matching already available games such as Hot Hit, Vegas Twin, Leprechaun Luck, Coin Rush, Blazing Wilds, Neon Reels, Tokyo Games, etc.
Notwithstanding, the platform launches new incentives for gamers regularly to keep them interested in the games available.
The latest promotion is for new users eager to play on the online casino with a welcome bonus for each user. New users can claim a 133% welcome bonus on their first deposit by using the WELCOME133 code while signing up.
With the online casino market showing massive signs of growth, it is key for the community to embrace blockchain-based platforms to ensure transparency and fairness in all games.