Cryptocurrency has taken the world by storm in recent years, with more people than ever before investing in digital currencies. And while some have been hesitant to dip their toes into the crypto waters, others have seen the potential for massive profits.
In the world of online gambling, cryptocurrencies have quickly become the go-to payment method. This is largely due to the fact that cryptos are anonymous and secure, making them perfect for placing bets and wagers on sites like Coinslotty crypto casino without having to worry about your information being compromised.
That said, what can we expect from the cryptocurrency betting scene in 2022? Here are three of the biggest trends that are likely to dominate the industry in the coming years.
- The Rise of Mobile Crypto Gambling
Cryptocurrencies are becoming more and more popular, and this is reflected in the growth of the crypto gaming industry. More people are using their mobile devices to gamble, and this is likely to continue in 2022. Some of the biggest trends in mobile cryptocurrency gambling include:
1. Increased use of Augmented Reality (AR) and Virtual Reality (VR)
2. Advanced use of blockchain technology
3. Increased service of cryptocurrency payments
4. Improved use of predictive analytics & AI
5. Grown percentage of female gamblers
6. Increase in sports betting popularity due to the development of tokenized platforms
- Increased Regulation of Crypto Gambling Market
The cryptocurrency gaming industry is still in its early days, and as such, is largely unregulated. However, with the rapid increase in the popularity of crypto gambling, we can expect to see increased regulation of the industry in the coming years.
Governments and regulators are starting to take notice of the cryptocurrency gambling scene, and they are not happy about the lack of regulation. In particular, they are concerned about the potential for money laundering and other illegal activities taking place in the cryptocurrency gaming industry.
As a result, we can expect to see more regulation of crypto gambling in the coming years. This will likely include new laws and regulations governing how cryptocurrency casinos operate, as well as how they handle customer funds.
However, increased regulation of the crypto gambling industry isn’t necessarily a bad thing, as it will provide some legitimacy to the sector. We can expect increased mainstream awareness of blockchain technology and cryptocurrencies as more people see them being used for online betting.
At the same time, we are also likely to see some new entrants into the market. Cryptocurrency gambling has largely been dominated by smaller companies, but as the market matures, traditional online gaming industry players are likely to take an interest in cryptocurrency gambling.
This could mean that some of the current crypto casino operators will have their market share eroded by larger mainstream competitors. However, there is also potential for increased competition between new and existing crypto casinos. This could lead to better promotions, more unique games, and additional features.
At the same time, we are likely to see increased awareness of crypto gambling among traditional online casinos, too. This is due to the fact that some operators have already started adding support for blockchain-based currencies such as Bitcoin and Ethereum on their platforms. As a result, it is only a matter of time before other cryptocurrencies emerge as viable payment options for online casinos.
So, overall the increased regulation is likely to be a good thing for the crypto gambling scene, and it could provide some crucial stability for what is still an emerging market. As more people see cryptocurrency gambling become regulated and accepted, we can expect to see even more growth in this area.
- The Emergence of Decentralized Betting Exchanges
The emergence of decentralized betting exchanges will play a big role in the crypto gambling industry in 2022. These exchanges will offer a much more user-friendly experience than traditional exchanges, and they will also be much more secure. These decentralized exchanges should have a lot of appeal to users who are hesitant about handing over their private keys and funds to a foreign entity.
The decentralization movement is also taking hold in betting markets. More and more people don’t want to put their trust into a bookmaker that could potentially be wrong, or might not pay out as they should – if at all. People are putting their money where the information they receive is decentralized, on a blockchain.
In addition to this, decentralized exchanges will offer low fees, instant payments, and no restrictions from governments on gambling markets. Decentralized betting exchanges will bring a fresh change to the industry that users have been craving, and more people will be drawn in as a result. With that being said, this technology still has a long way to develop.
On top of that, peer-to-peer betting will be big in 2022. It is somewhat similar to decentralized exchanges, but it doesn’t require users to pay for gas fees and transactions on the blockchain. This means that peer-to-peer betting will take away the first fee many bettors face when they purchase a token or make a wager.
On the other hand, peer-to-peer betting has one major issue: it is not safe and can lead to serious trouble. Unfortunately, there are no legal boundaries that prevent people from using this type of betting because transactions are made without any intermediaries or third parties involved. That is why users should be careful about who they bet with and make sure they trust the person they are dealing with.
It is difficult to predict the future of crypto gambling. The regulation and growth of cryptocurrencies could have a big impact on how this industry evolves in 2022. More importantly, it is difficult to predict the growth of cryptocurrencies themselves.
In the article above, we’ve highlighted the three most probable trends of 2022. Yet, in general, if things keep going as they are now, then we might also see more casinos and betting sites accepting Ethereum, Litecoin, and other less well-known coins. As long as the number of people using this technology continues growing, cryptocurrencies will also continue to grow.