Blockchain Technology Hits Land-Based Casinos

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Very many online casinos have warmed up to the idea of integrating cryptocurrencies to their payment systems with nearly all of them investing millions in the rapidly developing crypto market. While the fact that casinos are embracing bitcoin and other cryptocurrencies should come as no surprise, the rate of its growth has been somewhat overwhelmingly good. TheBitcoinStrip, an international analytic resource, estimates that currently about 60% of transactions in the Bitcoin network can be attributed to bets. It also estimates that the number of transactions made by gamblers every second is now well over the 337 mark. The escalation in the popularity of cryptocurrency in the gambling world is inevitable since gamblers will certainly prefer the security, absence of additional commissions and the unlimited withdrawals that bitcoin offers.

According to the appearance of bitcoin, as well as other cryptocurrencies, is enough to completely revolutionize the casino industry both in the online space and in brick-and-mortar casinos;

“In order to completely revolutionize the gambling industry, it is necessary to integrate new generation technologies such as Blockchain and Lightning Network, which will make casino activities more profitable for the operator and attractive to the player. We have a technical solution based on the ready-made software, which we can offer to big players in the offline market in the form of full-fledged equipment.” recently announced its intention to unveil to land-based casinos a full line of new SmartBox machines that will connect a variety of games such as bingo, online slots, poker, and blackjack.

Basically, a SmartBox configuration will consist of a touch screen gaming table, a QR scanner for connecting crypto wallets and a terminal that will allow users to deposit fiat money. The most significant highlight of the boxes is the gambling software that they use – it is based on the principles of blockchain technology and has been successfully tested on a wide range of products. Casino operators are particularly very impressed with the model of operational efficiency that the SmartBox machines present, that is, it ensures that profits are always higher than the costs incurred by the casino by optimizing transaction commissions to minimum market prices of a few cents.

The first batch of test machines has already been deployed for closed testing in a land-based casino where the performance indicators of blockchain technology in a real-world gambling environment will be measured. The tests’ deliverables include actual data that will include average spending, game time, turnover, number of players as well as the conceptual portrait of the target customer. If the results are as promising as they seem to be, then full-fledged production of SmartBox machines will commence.

Josh Andrews

Author: Josh Andrews

As an avid follower of the crypto world from the beginning since early 2010, Josh has experienced and covered every drop, turn and rise of Bitcoin from the first halving to the countless attempts of regulation. Over the years Josh has developed a keen interest in the different applications and uses of Bitcoin and its current movement within the gambling industry. It's safe to say very few can match Josh's passion for the growth and development of Bitcoin.

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