from identity theft as you do not need your name or any other personal information to make a transaction. Furthermore, as the transactions take place on the blockchain, they are completely immutable and cannot be tampered with, edited, or deleted. This means there is a permanent record of it taking place for the player to refer to at any time. PRIVATE: When you gamble with crypto, there is no oversight from banks, fiscal authorities or other governmental or non-governmental institutions. It remains in your hands how to manage your winnings depending on the rules in your jurisdiction. FAST: Transfers from banks, cards, and payment processors can take several days, but with crypto it takes moments. Using crypto facilitates the swift, cross-border movement of funds with little hassle, meaning you can deposit and gamble in a matter of minutes. COST EFFICIENT: When you transact with fiat, you can often get slapped by high transaction fees that can be oneoffs, or a percentage of your transfer. When you transfer crypto, there are no middlemen so no fees for facilitating the payment. Of course, exchanges and some wallets charge commission, but this can still be much less than those applicable to fiat payments. Pros for Operators and Affiliates Many of the pros for players will also apply to crypto casino operators and affiliates. ACCESS TO NEW PLAYERS: There are many players who will not gamble with credit or debit cards and instead prefer to gamble with crypto. This gives you access to previously untapped markets and clients for you to nurture relationships with. LESS REGULATION: Crypto casinos are not subject to as much regulation as fiat, for example, in terms of crypto casino licensing, AML and due diligence, and general bank compliance. This lighter regulatory touch saves you time and money. INNOVATION: When you offer crypto gambling on your site, you benefit from forward-thinking and innovative practices. Players will respect that you are working with new technologies and will be enticed to sign up and gamble with you. IMMUTABLE: Crypto payments are immutable and cannot be deleted, amended or charged back. This alleviates you from the headache of dealing with banks and payment processors with strict rules on refunds, chargebacks or other issues. Furthermore, as the payments are registered on the blockchain they are traceable and immune to fraud. MORE EFFICIENT: Working with banks and payment providers that process fiat currencies can be hard work and time consuming. When you deal with crypto, you cut out the centralizedmiddleman and are not reliant on clearing, processing, approvals and other matters. You remain in control and enjoy quicker transactions with lower costs associated with them. The Cons of Crypto Gambling But, of course, there are a number of disadvantages when it comes to cryptocurrency gambling. These should be assessed before you decide to take the plunge and offer cryptocurrency as an option to players. REGULATORY UNCERTAINTY: Only a handful of countries have a proper regulatory framework in place relating to cryptocurrency. Some jurisdictions have banned it completely, while others have taken a hands-off approach. There does remain a bit of regulatory uncertainty, particularly about how certain governments will address crypto in the future. These extend to fiscal rules, compliance, anti-money laundering and even whether such activities will be allowed. There are also considerations such as if a license is needed to use crypto payments or to operate a crypto casino. VOLATILITY: Cryptocurrency remains volatile and can experience significant value swings in just a matter of moments. For those investing in it and using it, as well as operators that accept it, it can result in big losses with no warning. But the flipside is, it can also increase in value meaning you can end up with more money and value than you did when it was initially deposited THE PROLIFERATION OF CRYPTO PAYMENTS When you offer crypto gambling on your site, you benefit from looking forward-thinking and innovative. Players will respect that you are working with new technologies andwill be enticed to signup and gamble with you. G P W A t i m e s . o r g 32
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