The rise of online casinos over the last few years has been tremendous and the use of cryptocurrencies has also increased over a decade. The two have made crypto casino business a field that is on the rise. Bitcoin casinos have now turned out to be one of the latest trends in the online gambling industry and may steer the future of online gambling.
Choosing to create a cryptocurrency-based online casino platform over traditional casinos, such as fast payments, better security, and increased transparency, some of the best Bitcoin casinos in the market boast of already having thousands of players from all over the world this is because they are in such high demand that players who live in all parts of the world have access to them.
Multiple startups have invested in new crypto casino projects and have also included the casino in their already existing crypto businesses.
Although the cryptocurrency as such is decentralized (not dependent on any central body), various crypto casino service providers have affected the future of the betting industry. In this blog, we will address the issue of developing a crypto casino business app using a script Bitkong clone.
Understanding about Crypto Casino Business:
Crypto casinos are no different from traditional online casinos. Meanwhile, there are several distinguishing features. A crypto casino is an online gambling platform that allows players to use cryptocurrencies such as Bitcoin, Ethereum, or other digital currencies to gamble on traditional online casino games without having to use the blockchain for each transaction.
The initial step for gambling online with cryptocurrencies is for the player to register with the respective site and to deposit cryptocurrencies as one would do in a fiat currency. Game bets are deducted from the player’s balance (or wallet).
Top Cryptocurrencies used by Crypto Casino:
Advantages of Using Cryptocurrency in Online Gambling
Using cryptocurrency in online gambling offers several distinctive benefits that enhance the overall user experience and improve the operational aspects of gambling platforms. Here are some key advantages:
The use of cryptocurrency in online gambling brings with it some unique benefits that contribute to the overall user experience and make the operation of online gambling platforms more efficient. Given below are some of the main advantages.
1. Enhanced Security
Cryptocurrencies are based on blockchain technology, which is known for its high level of security. Blockchain’s decentralized architecture means that the data is recorded on several computers, making it very difficult to change any recorded information without the agreement of the entire network. The inbuilt security, therefore, ensures the safeguarding of users’ funds and private information, thereby decreasing the risk of hacking and fraud.
2. Increased Privacy and Anonymity
A major advantage of cryptocurrency in gambling is the level of privacy that it provides to the users. Conventional crypto online gambling platforms demand the players to submit personal and financial information, which is then stored and can be accessed by third parties. Unlike this, crypto dealings do not need the users to uncover sensitive information, therefore, they can remain anonymous to a greater extent.
3. Faster Transactions
Cryptocurrency transactions are completed faster in a much shorter time than the ones involving fiat money. This is because of the removal of intermediaries, for example, banks, who are the only ones who can approve the transaction. For gamblers, this means that they can deposit and withdraw their money faster, thus, giving them the convenience of quick fund access and improving the overall user experience.
4. Lower Transaction Fees
The transaction fees for cryptocurrencies are generally lower than those for bank transfers or credit card payments. This cost-efficiency arises because there are no middlemen or institutions charging hefty fees for processing transactions. Lower transaction costs make gambling with cryptocurrencies more attractive to users seeking to maximize their winnings.
The transaction fees for cryptocurrencies are generally lower than those for bank transfers or credit card payments. This cost-efficiency is because there are no intermediaries or institutions that require high fees for justification. Lower costs of transactions make gambling with cryptocurrencies more appealing to users who want to maximize their winnings.
5. Global Access
Cryptocurrencies are not limited to national borders and banking restrictions; therefore, global access is given to all online gaming platforms. This is especially true for users who live in regions where gambling is banned or banking services do not support online gambling. Moreover, cryptocurrencies use different terminals for loading and withdrawing money, which causes no local rules problems for users worldwide.
6. Provably Fair Gaming
Some digital casinos make use of a technique called ‘provably fair’, which enables the players to know the fairness of each game transaction. The provably fair algorithm uses cryptographic ways to guarantee that neither side (the casino nor the player) knows the game results before a game and that the results are not adjusted by either party. Such honesty builds trust among users.
7. Adaptability to Regulatory Changes
The changing and dynamic regulatory landscapes make cryptocurrency offer flexibility that benefits both users and operators worldwide. An interesting point, the adoption of cryptocurrencies can help the Gaming industry to comply with these regulations without extensive overhauls to payment systems, which might be necessary with traditional currencies.
Read more >>> What Are The Various Types Of Wallets To Add To Your Casino Business
Key Market Statistics
These are the most interesting Bitcoin gambling stats of the year.
The global casino industry’s worth will be nearly $305.8 billion by 2024!
It makes up a share of the $100.90 billion iGaming industry, with a $250 million crypto-gambling market size!
4% of all gambling has occurred with crypto over the years, but that percentage is fast increasing.
Since 2014, players wagered over $4.5 billion in Bitcoin.
In 2023, Bitcoin’s share for all crypto gambling transactions was 73.3%.
Crypto gamblers place 337 bets every second.
50% of all the transactions with Bitcoin are used for gambling.
The most popular cryptocurrencies in gambling are Bitcoin and Ethereum.
At least $3 million in crypto is wagered by the top gambling gamblers every single day.
Approximately, 52% of the crypto gamblers prefer slots.
Online gaming is currently taking an unprecedented growth pace and doesn’t seem to slow down at any moment very soon. The latest reports estimate global online gambling to have reached $153 billion at the end of 2030, growing at a CAGR of 11.7%.
The situation looks even more promising when speaking about crypto casinos. The number of players who make bets in cryptocurrency is growing, and crypto casinos get more and more popular because of the huge number of advantages and innovations that crypto gambling sites have over classical ones. Briefly speaking, the future of crypto gambling is definitely promising, and we will surely keep you posted with fresh details.
Source: https://casinosblockchain.io/bitcoin-casino-statistics/
Why crypto casino app an ideal business opportunity?
Starting a crypto casino is one of those great ideas that can bring utmost profitability; however, it’s definitely a project that requires rigorous preparation and expertise. There are several reasons behind the increased attention to the crypto-based gaming scenario. The top few include-
It resonates with the young millennials and GenZ
These two generations are within the target age group of the crypto games. They’ve got the highest buying power and are responsible for the most revenues in many casinos. As we keenly know, both generations prefer and emphasize convenience over everything. Crypto casinos have the conveniences that both always seek—privacy, fast services in every transaction, and unique wagering experience. There is no verification and authentication paperwork in crypto casinos like for the traditional ones; besides, crypto payments are anonymous and secure, with quicker withdrawals and a large number of betting options.
Legal in countless countries
It is not illegal to bet with crypto in several countries. There are many rules that are not applicable. As the gambling industry is growing 2% on a yearly basis, with each company not wanting to miss a promising niche in the sector, NFTs and esports betting have been the main leading forces.
NFTs and Tokenization
Even though controversial, NFTs have caught the interest of the new-age investor who gets digital ownership of the assets they are purchasing. Investors get the feeling that such assets have the potential to make their profits. From a gaming perspective, NFTs are more of a one-of-a-kind experience created for the users. From a gamer’s perspective, the perks being offered by NFT games include passive income through gaming. Sounds like a win-win situation.
About Bitkong App and How Does it Work?
BitKong is the only 100% provably fair crypto gambling site on the market. Every single bet of every game can be verified at any point.
Want to see how Bitkong really orchestrates? Let’s find out how it works.
PLACE YOUR BET
In this multiplayer adventure, select the bet amount you wish to play with before the game begins
FUND YOUR ACCOUNT WITH CRYPTO
Use cryptocurrencies, like efficient Lightning Network, to add funds to your Bitkong account.
PLAY AND ENJOY
Pick the amount you want to bet to start the game and ensure this is at a good, sensible level for gaming. Watch it go up and know exactly when to come out just right. For a personalized approach, now try the auto-bet and auto-cashout.
Read more: Bustabit clone script – To develop casino game app like as bustabit
Essential Features for Your Crypto Casino App like Bitkong
The hallmark of a successful application lies in its ability to offer innovative features. To create an exceptional crypto casino app, it is imperative to provide groundbreaking features that set your app apart from the competition. Before diving into bitkong-like app development, it’s vital to compile a list of fundamental crypto casino app features that you must include.
What makes an application outstanding depends on its unique features. In order to come up with a great crypto casino app, make sure to provide unique features that will distinguish your app from others. But before getting too excited about developing bitkong-like apps, you need to make a list of the basic crypto casino app features to include.
Provably Fair Gaming
The transparency enabled by provably fair algorithms gives players a chance to verify the fairness of the results of each game. It is a Blockchain-supported feature that assures users that the presented game results are genuinely random and builds trust in the platform.
Security Measures
Security cannot be neglected. By Implementing top-of-the-line encryption, two-factor authentication, and secure payment gateways are aspects that offer players complete safety with respect to their data and transactions, making it a secure gaming environment.
Variety of Cryptocurrencies
Flexibility is paramount. The wide support of various cryptocurrencies gives the opportunity to cover a larger player’s audience. The options would go beyond just Bitcoin and extend to Ethereum, Litecoin, or Ripple in order to fit the tastes of the touchiest players.
Fast and Efficient Transactions
Speed is everything. Optimized processes for deposits and withdrawals with low transaction fees improve the user experience. Faster transactions, an inherent characteristic of cryptocurrencies, increase the platform’s appeal.
Mobile-Friendly Interface
Accessibility is a key. The mobile interface should be friendly and responsive so that players can enjoy their gaming on the go. Intuitive design optimized for a variety of devices enhances engagement.
Rewarding Bonuses and Promotions
Reward engagement: enticing bonuses, e.g., welcome bonuses, free spins, or loyalty programs, will attract and retain players, decently. Those rewards upscale the value of the gaming experience and retain the user base in your app
Comprehensive Customer Support
Support is crucial. Customer service should be readily available at any time through various channels and should be able to attend to any questions or concerns from players on time to build trust and reliance.
Licensing and Regulation
Credibility is everything. The appropriate licenses and conformity to the stated regulatory standards increase the level of legitimacy of the platform. Legal conformity ensures players that the likelihood of fair play is complemented with ethical operations.
Engaging Game Selection
If variety is the spice of life, then this online casino has got majority of games, including slots, poker, live dealer games and more which gives an engaging and immersive experience.
How to Develop a Crypto Casino Platform like BitKong?
Developing a crypto casino platform involves a blend of technical expertise, legal compliance, and strategic marketing. Here is an all-inclusive guideline on how to create a successful crypto casino:
1. Understand the Basics of Crypto Gambling
Start by understanding the fundamentals of cryptocurrency and online gambling. You have to learn what a crypto casino is, how it functions, and what types of games you usually find at this kind of platform. Also important to understand are the key selling points, such as elevated privacy, reduced transaction costs, and pace of payments to and from crypto casinos.
2. Select the Right Cryptocurrency
Make the choice of which cryptocurrency will be accepted on your platform. While considering popular choices like Bitcoin and Ethereum, be implemented due to wide acceptance and strong security features. Nevertheless, sometimes, altcoins like Litecoin and Ripple might be based on transaction speed and fee tendencies.
3. Obtain Legal Clearance
Before launch, a crypto casino app development company should obtain all legal approvals that are needed. Jurisdictions greatly differ when talking about gambling laws, which go further into legislation concerning online gambling and cryptocurrency use. Consult with legal experts about getting the appropriate licenses and total compliance with the local and international law.
4. Leverage Blockchain Technology
In essence, the core of every crypto casino is based on blockchain technology. Finally, whether you will make use of already existing blockchain platforms like Ethereum with support for smart contracts or decide to make a custom one, very few changes. Smart contracts power many functionalities in the casino, making everything super transparent and fair.
5. Develop the Casino Platform
You can either develop the gaming software in-house or partner with a reputable software provider. The platform should be friendly to users, secure, and scalable. It, moreover, should have features that ensure users’ data and transactions are private and secure. Provably fair algorithms are important in games as a way of proving integrity.
6. Implement High-Security Measure
The first consideration in online gambling is security. Put in place the latest security measures, including SSL encryption, two-factor authentication, and cold storage of cryptocurrencies against hacks and theft.
7. Create an Engaging User Interface
Design an attractive and user-friendly website. The user interface should also be smooth and convenient to use on either desktop or mobile devices. There should also be a huge variety of games to be hosted based on different tastes: slot games, poker, blackjack, live games.
8. Set Up Payment Gateways
Integrate multiple cryptocurrency payment gateways for easy ways of deposits and withdrawals. Of course, make sure such gateways are secure and really able to handle several transactions fast enough.
9. Test the Platform
The crypto casino platform should be thoroughly tested for any bugs or security loopholes before it goes live. Running a beta version can be quite useful to get real user feedback and understand how the platform performs when it encounters real-world conditions.
10. Launch Marketing and Promotion Campaigns
Design an overall marketing plan that will include SEO, social media marketing, affiliate marketing, and possibly even collaborations with popular cryptocurrency personalities. All of this will help to create a feeling of trust and a strong brand image.
11. Maintain Compliance and Stay Updated
After launching, monitor the e-casino continuous operation for full compliance with all regulations. Observe changes in gambling laws and cryptocurrency regulations, adapt accordingly, and make adjustments as necessary.
12. Focus on Customer Support
Develop strong customer support to quickly address issues and maintain customer satisfaction for player retention and customer loyalty.
Essential Tech-Stack Needed to Develop a Crypto Casino Platform like Bitkong
Here are some critical elements in the tech stack that would have to be developed for a crypto casino platform:
Blockchain Technology:
Ethereum (or Similar): Provide smart contracts and dApps within the confines of the platform.
Solidity: The smart contract development uses Ethereum-based applications.
Payment Processing Integration
Cryptocurrency Wallet Integration: It manages deposits, withdrawals, and general transactions.
APIs for Cryptocurrency Exchange Integration: It conduct conversations between different kinds of cryptocurrencies.
Security Measures:
Encryption Protocols: SSL/TLS encryption for user data and transactions.
Two-Factor Authentication (2FA): It is an additional layer of security for a user account.
DDoS Protection: It helps to protect against distributed denial-of-service attacks.
Frontend Development:
HTML, CSS, JavaScript: Core languages used to build a responsive interface.
Frontend Frameworks: Tools or sources of tools used in building dynamic, user-friendly interfaces such as React, Angular, or Vue.js.
Backend Development:
Server-Side Languages: Node.js, Python, and Ruby on Rails, which can handle server-side scripting.
Database Management: User data and transaction history storage using MongoDB, PostgreSQL, or MySQL.
Provably Fair Algorithm Implementation:
Random Number Generation (RNG): These are Advanced algorithms in using provably fair gaming outcomes.
Gaming Software Integration:
Game Development APIs: Various gaming SDKs integration for slot games, poker, roulette, etc.
Live Dealer Integration: Live dealer solution integration for live casino experiences.
Compliance and Regulatory Integration:
KYC/AML Solutions: Know Your Customer and Anti-Money Laundering solutions to adhere to regulations.
Licensing and Compliance APIs: Adherence with local gambling laws and stipulations may be followed with the attaining of appropriate licenses.
Cloud Hosting and Infrastructure:
Cloud Services: Use AWS, Google Cloud, or Azure for scalable and reliable hosting.
Content Delivery Networks (CDNs): These help in faster delivery of content across the globe.
Analytics and Monitoring Tools:
Data Analytics Integration: This would typically involve tools such as Google Analytics or an in-house solution for user behavior tracking and performance metrics.
Security Monitoring Tools: These are on the lookout in real time for any possible security threats
To sum it up
In conclusion, using a Bitkong clone script offers startups a tactical part when developing your cryptocurrency online casino app. With this approach, startups can launch a crypto casino gaming app quickly and cost-effectively, setting it in a competitive market position. Dappfort Bitkong clone script can be customized to meet startups’ precise commercial enterprise needs. There is high safety, easy integration, and a smooth-to-use interface are all capabilities that their answer promises and are crucial for drawing in and retaining users. The Dappfort, a leading Bitkong clone script provider also offers an extensive range of customization options and sturdy help to make certain your platform is in keeping with your desires. Selecting Dappfort’s Bitkong clone script offers your cryptocurrency online casino app a sturdy, characteristic-rich base, improving your probabilities of success within the rapidly converting digital market.