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Online gambling platforms have been on a steady rise in the last couple of years, and some states in the US have started opening the doors to de-regulation. Today, there are a number of states that allow betting on sports, and the number of sportsbooks has greatly increased.
The online gambling market, primarily in the US, has been going through explosive growth in the last couple of years and for those interested in placing bets on sports many states now allow for that. Some online betting platforms offer the option to conduct transactions using cryptocurrencies.
Crypto casinos and crypto gambling platforms like those featured at Cryptobetting.com are very straightforward in the way they operate. When it comes to what they offer, there are no big differences between them and traditional online gambling platforms, but for beginners, it is important to understand what crypto casinos and betting platforms are and how they work.
What are crypto casinos and crypto sportsbooks?
As implied by the name, these are platforms that offer the ability to carry out transactions at casinos using cryptocurrencies. In the US, there are no exclusive crypto sportsbooks or gambling platforms, and the platforms that do offer crypto payment options use it in conjunction with traditional means of payment.
What currencies are used?
Crypto casinos mostly facilitate payments and withdrawal primarily through the two most popular cryptocurrencies, Bitcoin and Ethereum. Some platforms also make it possible to pay using other coins such as Ripple and less known currencies.
In what countries are crypto casinos popular?
Crypto casinos are popular all over the world, but especially in Europe where they have started to gain a lot of traction. Most of these casinos are registered in Malta, as this gambling jurisdiction has some of the most relaxed gambling laws in the EU.
Are crypto casinos coming to the US?
In the US, crypto currencies are not yet accepted in casinos as in other places outside the US. While there are some off-shore casinos that offer their services to US-based gamblers, those in the US interested in gambling with crypto can do so using one of the many sportsbooks that are available on the US market. The question of whether or not online casinos should be legalized across the entire country has been the source of heated debate in state and federal legislatures. One of the key counter-arguments against allowing casino games to be played online is that games like roulette and other casino games are not games of skill, but rather games of luck. However, many of the sportsbooks available to US consumers also offer the options to bet on sports using crypto.
This is also a debate that native voices have been very vocal about. Many tribes with casinos on their reservations have been staunch opponents of allowing online gambling in all forms. This is due to the fact that it might decrease revenues at tribal casinos. More studies need to be conducted before this can either be confirmed or denied.