Many Australian casino players have started to turn to cryptocurrency for gambling online. These players are known to play in only casinos licensed under the Curacao eGaming framework accepting Aussie players or casinos bound by no licensing. And the one thing all these casinos have in common is that any of them accept cryptocurrency bets.
So why is this happening? Let us find out.
What Research Has to Say
According to research, one in five Aussies are of the notion that crypto is the key and have lost their faith in the traditional methods of saving. Kraken Crypto exchange held a survey that showed that more young Australians were starting to lose confidence in their typical cash savings value. The survey makes light of the fact that one in five Australians see crypto as the key to many things.
22% of the individuals in this survey were of the notion that placing their money in cryptocurrency was an easier method of saving as opposed to making deposits in back accounts using fiat. 40% of Millennials in the survey also had a preference for crypto assets over many other assets, and that 20% of the survey participants presently owned or have owned crypto in the past. What’s more, those who already owned had plans to purchase more crypto assets.
How it Applies to Online Casinos
Now, since a good portion of the individuals in Aussies have their assets in cryptocurrencies, it is only normal that they play in online casinos that accept bets in cryptocurrencies. Many online casino players who choose the cash option only do so because they have most of their assets in cash. And from the evidence provided by the survey above, a good percentage of Aussie players prefer to save in crypto.
In addition to this, more Aussie players are playing in Crypto casinos for the following reasons:
- It is Anonymous: More players are turning to crypto casinos because of the anonymity they provide. This level of anonymity is one that you won’t find in any other currency.
- Speedy Transactions: Crypto casinos offer instant transactions. This is because there are no third parties verifying transactions and slowing down the process. For players, this means they can register in their favorite casino, deposit money, and start playing their favorite games without any delay.
- It is Secure: Crypto casino transactions are extremely safe because of the high level of encryption they use. This provides players with an additional layer of security and peace of mind knowing their deposit is safe.
- The government does not control it: Since this is the case, players situated in grey jurisdictions in Australia can easily play in online casinos without hassles.