{"id":33116,"date":"2017-10-05T09:10:59","date_gmt":"2017-10-05T09:10:59","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=33116"},"modified":"2017-10-05T08:44:08","modified_gmt":"2017-10-05T08:44:08","slug":"cryptocurrencys-future-in-online-gambling-depends-on-regulated-markets","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/cryptocurrencys-future-in-online-gambling-depends-on-regulated-markets\/","title":{"rendered":"Cryptocurrency&#8217;s Future in Online Gambling Depends on Regulated Markets"},"content":{"rendered":"<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-33118\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/10\/cryptocurrency2-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/10\/cryptocurrency2-300x225.jpg 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/10\/cryptocurrency2-768x577.jpg 768w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/10\/cryptocurrency2-1024x769.jpg 1024w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/10\/cryptocurrency2.jpg 1598w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Online gambling is no longer the way it used to be a few years ago. There was a time when cowboys were a prominent part of the industry, followed by sheriffs, who moved in and established orders in many towns. But online gambling today is at the threshold of a \u201cwild west era\u201d, where cryptocurrency is sweeping the industry. <\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/p>\n<p><b><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">Cryptocurrency and online gambling<\/span><\/span><\/b><\/p>\n<p><b><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/b><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">Cryptocurrency is changing the online gambling landscape in a significant manner. Owing to the decentralized nature of cryptocurrency, you will not only need a few sheriffs but many deputies in addition to establish order. Cryptocurrency offers a number of advantages over traditional transaction methods. Minimal fees, no chargebacks, and faster transactions are few of the many advantages gamblers get from using cryptocurrency. Besides, blockchain technology has also come a long way to bring about more clarity and transparency between operators and customers.<\/span><\/span><\/p>\n<p><b><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/b><\/p>\n<p><b><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">What&#8217;s the future?<\/span><\/span><\/b><\/p>\n<p><b><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/b><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">As we make a transition towards cryptocurrency, chargebacks are losing importance. Each transaction becomes a part of the blockchain and is irreversible. But, withdrawals and deposits can still be disconnected in a highly regulated gambling domain, despite mature jurisdictions in place. Moreover, transactions using cryptocurrency can be very instant. Also, any transaction on the blockchain is visible to various parties, thus making the process highly transparent.<\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">But, with increased transparency comes the problem of coin hacking. Even if the \u201cwhat\u201d and \u201chow\u201d around coin hijacking is clear, the \u201cwho\u201d still remains shrouded in mystery. In order to make cryptocurrency a long-term success, the gambling world needs to address the \u201cwho\u201d issue. The good news, however, is that blockchain can be designed to address this issue. <\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u201cProvably fair\u201d, a term most commonly used in the gambling world, relates to the perception of the public of the fairness of games. But customers still have to take a leap of faith when it comes to investing their hard-earned money in games. Today, the games&#8217; fairness can be reviewed anytime by anyone, thus allowing customers to be a little certain about the possibility and legitimacy of an outcome. <\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">\u00a0<\/span><\/span><\/p>\n<p><span lang=\"EN-US\"><span style=\"color: #000000; font-family: Times New Roman;\">The use of cryptocurrency in gambling can be sustainable only when regulated markets are created. Education and compliance mindset set important elements in making cryptocurrency successful in the gambling world. Although crypto is on the leading edge, regulatory and technological safeguards should be a priority. The industry, along with potential new players, should educate themselves about the technology and the various legal regulations surrounding it. <\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online gambling is no longer the way it used to be a few years ago. There was a time when cowboys were a prominent part of the industry, followed by sheriffs, who moved in and established orders in many towns. But online gambling today is at the threshold of a \u201cwild west era\u201d, where cryptocurrency [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":33117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3,8],"tags":[],"class_list":["post-33116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-igaming","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cryptocurrency&#039;s Future in Online Gambling Depends on Regulated Markets - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/cryptocurrencys-future-in-online-gambling-depends-on-regulated-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptocurrency&#039;s Future in Online Gambling Depends on Regulated Markets - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Online gambling is no longer the way it used to be a few years ago. 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