How Crypto Casinos Will Popularise Low Minimum Deposits
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- Online casino players are expanding their options but not wanting to deposit a high amount when opening a new account
- Lower minimum deposit offers (£1, £3, £5) are available but players still want extra value despite low investment
- Crypto casinos and cryptocurrency payment methods offer a great solution, offering better bonuses and higher RTP (return-to-player)
- It may take a while to fully accept crypto casinos due to volatility and preference in other payment methods
Introduction
Cryptocurrencies like Bitcoin and Ethereum have made their way into the realm of online casinos, prompting an exciting new wave of crypto casinos. Gaining popularity in the past year due to low minimum deposit offers, players can benefit from betting online without having to commit to a higher initial deposit.
Less Money, Less Risk
Some online casinos require players to make a minimum deposit of £20 or more, particularly if they want to receive a nice bonus once they sign up. Unfortunately, not everyone wants to commit such an amount initially, especially since these deposit offers are for new players and some might just want to test the waters at their new chosen casino.
Low minimum deposit casinos have expanded significantly due to this, and with increased calls for safer and responsible gambling, players now have the choice to sign up at an online casino where they can deposit as little as £1, £3, or £5. Oftentimes the low-deposit casinos also offer rewards such as match deposit bonuses and free spins so players don’t miss out.
Why Crypto and Online Casinos Go Hand in Hand
Cryptocurrencies have been hailed as the future of digital payments as fewer people are handling physical cash.
One of the benefits of crypto casinos is the speed at which payments and withdrawals are processed mostly due to blockchain technology. No need to wait for days after withdrawing your winnings, as it can be done instantly.
A growing trend in crypto casinos is that there are more generous welcome bonuses for players in comparison to regular online casino sites, allowing players to save more and win more. Not to mention, there are also quite a few Bitcoin casinos offering 100% RTP (return to player) which is impressive as regular casinos offer around 96%.
As mentioned, low minimum deposit offers are on the rise, and crypto casinos are definitely riding the wave. It’s not uncommon to see some casinos accepting 0.00014 BTC, which is currently £5.
Possible Disadvantages
Although there’s a strong argument for why crypto and online casinos work well, it can also come with downsides.
Like fiat currency, cryptocurrency can still be pretty volatile due to demand or the limited availability of coins. If, for example, Bitcoin works positively against the pound, players can get more value from winnings. If the opposite happens, players could lose out.
Most people associate blockchain with anonymity, and unfortunately, some would pair it with criminal activity. Online casinos in the UK have to work extremely hard under the Gambling Commission’s guidelines to ensure safer gambling and prevent money laundering. With that being said, even though the UKGC did recognise Bitcoin as a cash equivalent, not all online casinos have rushed to adopt it.
Another reason why there might be a slower rise in crypto casinos is simply that crypto isn’t a household item yet. Many players might still want the comfort and safety of a bank. Even with the acceptance of Bitcoin in online casinos, alternative payment methods like PayPal were still more popular.
Conclusion
As more players seek variety and value, it makes sense that cryptocurrency needs to be integrated into online casinos. This is great for those who want to make lower deposits and try out various casinos.
On the other hand, cryptocurrency still has a long way to go before it becomes mainstream and popularises offers such as low minimum deposits, cashback, etc. This would also depend on how much current online casinos would want to integrate crypto. Only time will tell!
