But firstly, what is crypto? Cryptocurrencies are based on blockchain. In simple terms, blockchain technology is basically a public ledger which has been designed to provide details about transactions.

It is a decentralised system, meaning there is no bank or facility where it is located. A transaction is also known as a block, which may help you understand the system. The transactions cannot be deleted or removed, and they are available all the time, for every single block.

TheLadyCrypto is no exception to the companies realising the growing potential of bitcoin and wider cryptocurrencies. Self-described as offering “truly honest and insightful analyses of the web’s top crypto gambling websites”, the online review site explained that bonuses and a wide range in games can help elevate the player experience.

So how can crypto casino operators improve the player experience?

Bonuses 

Bonus offers have often been used as a means of attracting new and existing players to an operator’s site, whether that be using free spins, a free bet or a boost to a player’s odds. According to a spokesperson at TheLadyCrypto, these types of offers can really help elevate the player’s experience and help drive both engagement and retention.

He said: “There are so many different bonuses out there that you can sign up to, so operators should really ensure that they have the best possible offers.  

“Websites like TheLadyCrypto usually have an up-to-date list of bonuses and promotions so it’s worth looking to see what is already on offer. This can help you work out a way for your offering to stand out from the crowd – helping players get the most for their money.”

Clear rules for players

Every bitcoin casino has different rules for its players, which can sometimes cause confusion for those wanting to bet. It’s therefore fundamentally important to make players aware of what it is they are signing up for before they play games such as bitcoin dice.

“Players need to be aware of rules such as wagering requirements and deposit limits prior to placing a bet,” he continued. “They should also be able to access information on which games count towards any wagering requirements. The more information the player has, the more likely they are to enjoy their experience and keep coming back.”

Things to consider

From a player perspective, one of the benefits associated with the use of bitcoin is that crypto betting platforms allow you to withdraw your funds instantly – compared to sometimes having to wait several hours on traditional gambling platforms. This is alongside the added security and transparency of using crypto casinos. 

Looking at the rising use of bitcoin across the betting and gaming industry, TheLadyCrypto is confident that this form of fun will become more and more appealing in the near future, as both players and operators realise the benefits of cryptocurrencies.

The post TheLadyCrypto: Elevating the bitcoin casino player experience appeared first on CasinoBeats.

The report found that bitcoin was the dominant cryptocurrency, accounting for more than 90 per cent of traffic. Meanwhile, ethereum and litecoin made up the remaining 10 per cent, following in second and third place respectively.

“The absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020, compared to 2019,” said Andrey Starovoitov, COO at SoftSwiss. 

“Bitcoin is no longer exotic. In the coming years, we expect to see even more gaming studios supporting cryptocurrencies in their games, as well as casino operators integrating new crypto payment methods for their players.”

SoftSwiss Game Aggregator statistics found that cryptocurrency usage had increased on a global scale, with particular growth in Canada, Latin America and Russia. 

The report concluded that the rapidly growing popularity of cryptocurrency as a means of payment leads to a rising interest in crypto gambling, a marketplace previously dominated by fiat.

More than 3,000 games on the group’s game aggregator platform support the use of cryptocurrency, which the provider explained can be added to any gaming software platform through an API integration.

Real Dealer Studios became the most recent company to join forces with SoftSwiss which will see the games producer make its entire suite of titles available to operators that are powered by the SoftSwiss platform.

The post Softswiss reports three-fold increase in crypto gambling traffic appeared first on CasinoBeats.

Off the back of the halving, SOFTSWISS analysed the data gathered from around 250 crypto-friendly brands powered by the igaming supplier that engaged in crypto transactions during the first half of 2024. 

Underpinning the significant growth of digital currencies within gaming, the total bet sum, encompassing both fiat and crypto, grew by 46.6% in the first part of 2024 compared to the same period of the previous year 

SOFTSWISS also detailed that in the first half of 2024, the Crypto Bet Sum showed a steady 2.3% increase compared to the same period of the previous year. 

Andrey Starovoitov, Co-CEO at SOFTSWISS, commented: “The anticipated impact of the Bitcoin halving, coupled with the strengthening of the Bitcoin exchange rate in the first half of 2024, may lead to a more cautious attitude among players towards using cryptocurrencies.”

Bitcoin, Litecoin, Ethereum, Tether and Dogecoin create the stable top five most popular cryptocurrencies in igaming. 

Bitcoin experienced a decline of around 23%. in the first half of 2024 compared to the first half of 2023, as its exchange rate strengthened. On the other hand, Litecoin and Tether demonstrated growth of 8.9% and 7.1%., respectively. 

Starovoitov summarised: “Confirming experts’ anticipations, the igaming industry is experiencing active growth, with a fifth of all bets coming from the crypto segment. The intriguing fluctuations in Bitcoin’s position promises both increased profits and a more cautious attitude toward spending. 

“However, every challenge brings its own opportunities. The key to success lies in adapting by investing in employee training and software development, integrating crypto processing and ensuring your platform remains secure throughout the process.”

The post SOFTSWISS: bitcoin halving encourages uptake in crypto bets appeared first on CasinoBeats.

With companies beginning to implement NFTs into slot titles, accept crypto for casino payments and the rise of crypto-only casinos, the CasinoBeats Summit will allow delegates to discover how cryptocurrency is having a growing impact on both suppliers and operators. 

Ahead of his appearance at the Summit, we spoke with Matthew D’Emanuele, CEO at Yolo Entertainment, about the rising use case of crypto in the online casino sphere, while analysing how crypto has “broken through antiquated barriers” to become a key tool for the industry. 

CasinoBeats: Can you explain the importance for cryptocurrency casino operators to appear at events like the CasinoBeats Summit?

Matthew D’Emanuele: The great thing about the CasinoBeats Summit is the diversity of delegates. It’s a real opportunity to listen and learn from operators working across the sector. Sure, Sportsbet.io and Bitcasino are crypto-led operators, but the fundamentals of delivering a great experience to our players doesn’t significantly differ from the fiat-only operators. 

It is very obvious that we fully believe in the advantages of playing with crypto, but we also recognise that players make choices beyond their payment method. Part of the benefit of attending the various conferences around the industry is another one of the many mechanisms we utilise to maintain a thorough understanding of the initiatives taking place around the industry. 

CB: How has the use of cryptocurrencies in the casino industry evolved in the past few years?

MD: When we launched Bitcasino 10 years ago, you could buy one Bitcoin for about $500; as I write this, Bitcoin has just surpassed its all-time high and is trading at more than $70,000. That transition from niche technology to the mainstream has been remarkable, and with it has come a whole host of opportunities to positively disrupt and transform the casino sector. Aside from crypto as a payment method, we’re now seeing some really interesting integrations, particularly around Telegram, with the opportunity to play in its native currency, TON.

The whale brand has already gained a lot of traction here. It is a fast-developing space and one we’re determined to remain at the forefront of.

CB: What benefits do operators gain from running cryptocurrency casinos, as opposed to standard fiat casinos?

MD: There are many benefits to giving players the choice of using crypto in addition to fiat. I love the transparency that crypto brings to the process, the decentralised nature of blockchain technology, which allows every network user to track all transactions in real-time is an example of this.

The speed in which we can pay our players their winnings is also an added advantage, ensuring players are paid their winnings swiftly is part of our DNA and reflects well in our ‘Fun, Fast and Fair’ pledge. 

While a handful of regulators have made some positive moves, there’s still a long way to go. We’re always open to having those conversations, as we believe that it is an important step in building a long-term, sustainable future for the space.

CB: What additional responsible gambling challenges are faced when operating an online crypto casino? 

MD: There’s still a belief that cryptocurrency gambling poses additional RG risks but if you look at the technology, you’ll see it is built in a way that makes it possible to put additional safeguards in place. 

One of the great myths around Bitcoin, for instance, is that it is anonymous. That’s not actually true. Bitcoin is a pseudo-anonymous cryptocurrency, which is a really important difference. It makes it easier to track than fiat currency in many vital aspects, and in turn provides a higher level of both RG and AML protection than you’d typically see from a traditional online casino handling bank and card transactions.

We obviously carry out  KYC procedures to verify players like any responsible operator would do. We also monitor player behaviour and offer all the tools and sense checks you would expect.  

This goes to show that there is still a lot of educational work to be done. Misconceptions around cryptocurrencies are rife and, via platforms such as LearnCrypto.com, we’re supporting those who are dedicated to helping people understand how this technology can really benefit them.

CB: Do you think that cryptocurrency casinos are now considered mainstream platforms in the gambling industry?

MD: Back in 2019, we became the front-of-shirt sponsor of Watford FC in the Premier League. It was a huge statement, putting our logo in front of a global audience totalling hundreds of millions. At the time, there was a lot of surprise, even from those within our industry, that a crypto-led brand was in a position to make such a statement.

Five years on, with main sponsorship agreements in place with Southampton, Arsenal and Newcastle currently, I think it is fair to say things have progressed a lot.

A handful of crypto casinos and sportsbooks are now among the most visible brands in all of igaming, and are also driving a significant amount of innovation in an industry that has developed – fairly or not – a reputation for complacency.

So yes, I’d say we’ve broken through those initial antiquated barriers. This doesn’t mean we’re satisfied however, Yolo Entertainment is committed to putting our customers at the centre of the universe, and whether Bitcoin is trading at $500 or $70,000, that mission will never change.

D’Emanuele is one of many decorated speakers at the CasinoBeats Summit, which takes place on May 22-23, with over 4,500 delegates from operators, suppliers, affiliates and more set to visit the 2024 event. 

You can purchase your Early Bird ticket for the discounted price of €400 (a discount of €200 off the standard ticket).

Operators – apply for a free pass!
Affiliates – apply for a free pass!

The post Matthew D’Emanuele, Yolo: crypto’s ‘remarkable’ transition towards positive disruption appeared first on CasinoBeats.

We’ve all heard about the growth of cryptocurrency. Whether it’s bitcoin, ethereum or even the more niche dogecoin, you’d have to be living under a rock to escape the news that crypto is the ‘next big thing’. 

The gaming industry is one such sector which has realised its potential, with companies such as Bad Hombre Gaming leading the way for crypto adoption. 

Mika Salminen is the newest member of the Bad Hombre Gaming team having joined as Head of Account Management back in August.

In a chat with CasinoBeats, Salminen reflects on his new appointment at Bad Hombre Gaming and the potential for growth within the crypto casino space. He also touches on his experience within the igaming industry and explains why he made Malta his home after what was initially supposed to be a ‘flying visit’.

CasinoBeats: Congratulations on your new role at Bad Hombre Gaming! First of all, can you give a brief introduction to yourself for our readers? How did you first start working within the igaming industry?

MS: Thank you and I’m super excited about the new position!I started my igaming journey 11 years ago in customer service and since then I have been involved in almost every aspect of igaming including being shareholder of a small startup B2C casino, VP of operational services, multiple years in B2B account management etc. giving me full scope of responsibilities and how to build account management from scratch.

I moved to Malta and was thinking of spending the summer here, but after 11 years I’m still on the same ride.

CasinoBeats: You’ve held a number of positions at leading igaming companies, including GiG, Soft2Bet and Finnplay. What was it that attracted you to the role at Bad Hombre Gaming?

MS: I heard positive things about Bad Hombre gaming and what the Bad Hombres have achieved so far plus after meeting the people behind the scenes who are involved in this project I was immediately interested.

CasinoBeats: And how will this previous experience shape your strategy when it comes to Account Management? 

MS: I have been on the B2C side when I started my igaming journey and in the past few years, I have been focusing on B2B and especially the platform side of the business. 

This has given me quite a good overview of the industry and understanding of the Account management and the requirements that our partners might have and how to finetune the products and procedures to increase revenue together with our partners.

CasinoBeats: As you well know, Bad Hombre Gaming places significant emphasis upon the crypto casino space. What would you say are the key differences between crypto casinos and fiat casinos when it comes to creating a stand-out player experience? 

MS: From an account management perspective in product, there is not much of a difference. Most of the differences come from registration where we can offer for example direct Telegram registration. 

Crypto casinos are serving a different cohort of players and subsequently need to serve different needs of players. Players in crypto casinos are typically younger and more tech-savvy given the natural knowledge barrier that people have to jump in order to transact in crypto. 

These players are very switched on to the mechanics of casino, so it’s important to ensure that your brand operates transparently, with fair offers and strong customer service. Trust is of paramount importance in the crypto casino space given that fraud and scams are so prevalent in the crypto space

CasinoBeats: If you had to set out three main goals to achieve in your role over the next 12 months, what would they be?

MS: My personal goals are to focus on building great partnerships with our partners and create long term plans to optimise the potential of the products. 

I want to show how trustworthy crypto casinos are, since there is quite a lot of hesitance in the crypto+casino combination in general. I also want to ensure that we at Bad Hombre Gaming reach all targets that we set with each partner and reach our company goals for 2023

CasinoBeats: Where do you see the crypto industry heading in the next five years or so? Could digital currencies find their way into mainstream payments?

MS: From my experience, crypto is already making moves to mainstream payments, so I’m super excited to see how cryptos are integrating into day to day life. 

We definitely expect to see crypto go from strength to strength and hope that we can buy our morning coffees in crypto very soon… But certainly crypto offers a range of advantages over traditional fiat payments, particularly in a business context. It’s cheaper to process payments, and funds are instantly settled to the merchant on purchase. 

From an end user perspective, you don’t need to worry about expiring cards, inexplicable card declines or bank outages. We expect that slowly, crypto will permeate the mainstream – not only do we expect it, but we welcome it!

The post Mika Salminen: we’re taking Bad Hombre Gaming to new heights in 2024 appeared first on CasinoBeats.

Taking place yesterday (Monday 4 September), the suspicious transactions were confirmed by the online casino and sportsbook as affecting its Ethereum and BSC hot wallets.

Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets.

We are investigating and will get the wallets up as soon as they’re completely re-secured.

User funds are safe.

BTC, LTC, XRP, EOS, TRX + all other wallets remain fully operational.

— Stake.com (@Stake) September 4, 2023

However, in a post on X, the group did offer assurances that its consumers’ funds were safe, with Bitcoin, XRP and other wallets said to have been unaffected and remained fully operational. 

A number of reports have the exact figure drained standing at $41.3m, although this has not been confirmed by Stake.

Broken down, this reportedly includes $15.69m worth of Ethereum, $7.825m of MATIC and $17.825m worth of BSC was ultimately hacked and rewired. According to reports, total lost funds from hacks and exploits through 2023’s Q1 and Q2 stood north of $650m.

All services have resumed! Deposits & withdrawals are processing instantly for all currencies. We apologise for any inconvenience. ?

— Stake.com (@Stake) September 4, 2023

A little over four hours after its initial update, Stake issued a follow up to note that normal service had been resumed following an internal investigation into the matter.

“All services have resumed! Deposits & withdrawals are processing instantly for all currencies. We apologise for any inconvenience,” it said.

Stake was established in 2017, and counts a number of sporting partnerships as part of its portfolio. These include European Cricket, Everton Football Club and the UFC, as well as being the Alfa Romeo F1 team’s official co-title partner.

The post Stake quickly resumes operations following $41m hack appeared first on CasinoBeats.

The Australian government statutory authority has said that this comes after a “detailed” investigation into prohibited online gambling services was carried out, and which could carry maximum individual penalties of up to A$1.66m.

This refers to an entity that was originally operating under the PPPfish moniker but that subsequently rebranded to Shuffle Gaming and later Redraw Poker. 

It is alleged by the ACMA that these were online poker services, which is a type of gambling service that is prohibited under section five of the IGA.

Rhys Edward Jones is alleged to have provided prohibited online gambling services to Australians from March 2020 to March 2021, while Brenton Lee Buttigieg is thought to have been involved in promoting and referring customers. It is claimed that Diverse Link provided the offerings from March 2021 to the present.

The ACMA alleges that “since March 2, 2020, the services provided by Jones and then Diverse Link offered Australians the ability to play poker online for money. 

“Players join poker clubs through a mobile app, can then purchase chips from separate websites, via bank transfer or bitcoin, which are then credited to their account in the poker club and can be used to play poker. Chips can then be redeemed for money or bitcoin.”

For the alleged violation, the ACMA, which is responsible for enforcing prohibitions against the provision or advertising of illegal interactive gambling services in Australia, advises that the maximum penalties payable by an individual is up to $1.66m per contravention, and five times that amount for companies.

The post ACMA commences civil proceedings against gambling service providers appeared first on CasinoBeats.

Along with the relaunch, which is said to deliver “even more value to operators and players”, BBC will now offer an “intuitive” back office and dashboard, which gives full control to operators over the information and review for each of their brands, as well as direct access to the BBC community. 

“I am incredibly proud of the new look and feel we have created for Best Bitcoin Casino as we continue to establish the site as one of the most reputable and trusted in the market,” Barry Goldwon, asset manager at Best Bitcoin Casino, remarked. 

“More than that, I am proud of the incredible feedback we have received from operators and our subscribers which gives us the confidence that we are on the right track and have been since we launched in 2013. 

“Our ultimate goal is to help players find reputable cryptocurrency and blockchain online operators, not only casinos, but also sportsbooks, esports, poker, dice and more. Our new rating algorithm will allow us to do this more accurately and at scale as we keep adding more brands to the site.  

“We already have 650+ brands reviewed and rated but we would like to see even more operators sign up to Best Bitcoin Casino and take advantage of our community of more than 12,000 members to drive awareness of their casinos and increase new player sign ups.” 

BBC has more than 650 casinos reviewed on the site as its new rating algorithm uses several parameters to rate an operator including bonuses and wagering requirements, direct and proactive player support, licences held and more. 

In addition to the online casino brands listed and reviewed on the site, BBC visitors and subscribers can also access information about dozens of crypto and blockchain platform

The post Best Bitcoin Casino relaunches with new rating algorithm appeared first on CasinoBeats.

Speaking to CasinoBeats, BGaming director Marina Ostrovtsova dissects the reasons why crypto is helping the game developer to meet the needs of its partners while also elevating the overall player experience. 

CasinoBeats: BGaming has been labeled as the first slot developer to incorporate cryptocurrency within their titles, what made you make this decision? And how popular has it been with players? 

MO: This label is tightly connected to our roots and the time when we started building games. So this is in our history already. 

This is not a secret that we are a part of the group of companies that includes different platforms for online casinos, so when we decided to build the platform for crypto casino, this was the obvious choice to incorporate this into the games. 

When everybody on the market was trying to flirt with cryptocurrency, we actually had a very serious affair and that is how it transformed into the label. 

The interest in crypto is still growing and we, of course, keep abreast of the situation. BGaming expands its presence in crypto projects. For example, a few weeks ago BGaming started cooperation with BetBit, the world’s first bitcoin casino. We are going to widen the partnership with another crypto project Wagerx shortly. 

CasinoBeats: Within your games, which cryptocurrencies have you implemented and what was the process in deciding? 

MO: From the very beginning, the obvious choice was BTC, that is how it all started. Litecoin and Dogecoin jumped in straight after. This threesome was alive and kicking until Etherium started rocking. So we saw the demand from operators and this was just a matter of settings until we enabled this one. Further, this was already a process for us – seeing this demand, and reacting accordingly. 

It is always about feeling what your current clients need, about identifying it with what we have on the market. So this is the foremost. The second major would be the system itself – from the very start we have built the system to be able to work with any currency out there even if this does not yet exist. 

CasinoBeats: Cryptocurrency lives in a very volatile market with its value altering on a nearly hourly basis. Is this an issue when it comes to using digital currency?

MO: This is an excellent question, and for sure this is an issue. It is important to answer another question though – what are these realistic use cases for our business?

For the game provider, this is just the currency players making their bets and using crypto in the whole portfolio of currencies supported is just broadening the audience and gives this audience more flexibility and freedom. 

But here we can stumble upon another issue – if our business has an effective system in place to balance and manage the risks. Speaking on behalf of a game developer, it is essential to have a flexible system to reflect all the changes. 

Accepting cryptocurrencies makes game suppliers always be prepared to change (either the bets in the game, or the system itself) and this is challenging on its own. From the very beginning, we all do it manually, moving slowly to more automated versions of our systems and platforms. 

CasinoBeats: In the past, we’ve seen changes in interest around cryptocurrency. Are current levels of enthusiasm here to stay? And how can slot developers make the most of the opportunities presented by the crypto space?

MO: Let’s be honest – millions of people around the world have been observing the hype around bitcoin lately, even those who have never used them before even a tiny bit. Many celebrities were tweeting it as if this is their regular basic staff to share, which can be true. So this is already something deeply rooted in society. And I am not only talking about our industry specifically, a lot more people nowadays want to be a part of it, want to understand the technology standing behind it. 

Many people are already using blockchain technologies, sometimes not even realising it. So this is already an ecosystem we live in and yes, there will always be enthusiasm around it. 

For the game provider – we can try to use the technology to the fullest in our production life cycle as this one is one of the most progressive and flexible.

CasinoBeats: How significant is the transparency and efficiency of digital currency to boosting your players’ user experience?

MO: First of all – you can play internationally, but not only play but withdraw faster from anywhere in the world without any restrictions. Also, you can feel more secure while using crypto and you can stay anonymous. All of that is already boosting player experience. 

Still, this is the level of interaction with an operator. Now what is left is to pick your favourite place to play at and one of the BGaming titles and have a great time. 

CasinoBeats: Moving forward, what do you envisage in the future collaboration with online casinos and the cryptosphere? Will we see more and more casinos develop their own wallets for crypto and see more titles incorporate various currencies? 

MO: I envision the room – the space for innovation. 

With more restrictions and rules nowadays we can see some cryptocurrencies specifically created for online gaming (there are several examples already). Those tailored coins allow maintaining low transaction costs, immediate transfers, and more security. 

From the developer’s point of view – the process of being emerged into new technologies and processes can be even more fascinating than playing games. 

The post Marina Ostrovtsova: Why cryptocurrency is an integral part of the BGaming story appeared first on CasinoBeats.

Now able to provide games including Elvis Frog in Vegas, Fruit Million and the newly released Aloha King Elvis slot to BetBit’s players, the partnership serves as a step towards increasing BGaming’s network of crypto-currencies, being the world’s first igaming provider to support it. 

Commenting on the partnership, Jason Smith, operational manager at BetBit, said: “BGaming is one of our favorite gaming providers and Betbit is proud to expose their games to all its subscribers.” 

Furthermore, the two companies look forward to shortly widening their partnership with another crypto project, Wagerx, a multiplayer crypto game due to be released in September later this year. 

“We strive to cooperate with crypto operators because this area of work is still very prospective for BGaming,” added Alexandr Shavel, head of BizDev Department at BGaming.

“We are delighted to have another fresh but very promising operator BetBit among our partners. There’s no doubt that the project will be successful. From our side, we are going to produce a multiplayer crypto game by September”

The news follows a Q2 corporate report from BGaming released last week that revealed that there is an “absolutely clear” case that desktop games are “rapidly falling behind” those on mobile.

The report highlighted that 95.3 per cent of players played slots on mobile devices in Q2 – a 1.08 per cent increase from Q1 and up from 77.6 per cent in Q2 2020. 

The post BGaming expands its presence in crypto projects alongside BetBit appeared first on CasinoBeats.