Tag: Online Gambling

Coco’s Unique Crypto Casino Breaks New Ground in the World of Online Gambling

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Cryptocurrency is an ever-evolving industry where cutting-edge platforms are continually pushing boundaries. Coco, one of the newest crypto casinos, has taken the industry by storm, processing $36 million in transactions in its first 12 hours of operation. This success may be credited to the platform’s one-of-a-kind services, one of which is a native token known as COCO. Since it was first listed, the price of COCO has skyrocketed by more than 1,200%, making it one of the most successful cryptocurrencies in history.

As the cryptocurrency market as a whole struggles with lackluster volatility, investors have been on the lookout for new profit opportunities. To meet this demand, Coco’s casino has integrated the Ethereum blockchain to provide a spectacular on-chain betting experience.

Great Defining Offerings

One of its features is a slot machine that was modeled after Milady NFTs, and it also has a machine that is devoted to two popular meme coins: pepe (PEPE) and dogecoin (DOGE).

Coco takes pride in being able to demonstrate that it is a “provably fair” casino, which differentiates it from other casinos in the industry. Using the extremely secure SHA256 method, each game generates a seed and transmits its hash. Players may be confident that their funds will be handled honestly and securely since the platform generates a new seed before each game to verify the authenticity of all transactions.

Another Fad or A Truly Disruptive Force

There is no denying the effect Coco’s introduction has had on the industry. Data from etherscan shows that in only the first 12 hours after becoming up, the casino processed transactions totaling $36 million. Moreover, the original listing price of the COCO native token was less than $0.007; nevertheless, it has since surged to 8 cents, which has resulted in an amazing market capitalization of $8.8 million.

Not only has Coco gained attention, but there are other crypto casinos as well. Real hamster races on the blockchain platform Hamsters.gg have also attracted the interest of the cryptocurrency trading community. Bets on the platform are accepted in Binance’s own currency, BUSD, which is tied to the US dollar, and may be placed using Ethereum or BNB Chain tokens.

It is no surprise that as Bitcoin and Ethereum grow in popularity, more and more gaming sites are beginning to support these virtual currencies. Still, the new cats in the sector are definitely demanding attention as well.

The Rise of Stake.com in the Multi-Billion Dollar Crypto Gambling Industry

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Stake.com opened its doors in 2017 with Ed Craven and Bijan Tehrani at the helm. The intention was to provide a trustworthy environment for crypto gamblers. They were motivated by the success of SatoshiDice, the pioneering cryptocurrency gaming platform that went live in April 2012 and now years later it has paid off.

The company has become a $2.6 billion industry powerhouse with customers all around the globe enjoying its cutting-edge services despite facing some setbacks in its early days.

What Makes Them Different?

Stake.com fully utilizes the benefits that cryptocurrencies provide to the online gaming industry, like anonymity, decentralization, quicker transactions, and cheaper costs. They have also adapted well-known games like Crash, Dice, and Plinko for the cryptocurrency community.

They’ve also established relationships with the industry’s top game developers, guaranteeing that their players will always have access to new and interesting games. This is in addition to the way they have capitalized on the rising popularity of live-streamed games, which has helped the business expand rapidly.

Continuous Growth Ambitions

Stake.com takes a proactive marketing approach, running campaigns aimed at both prospective consumers and regulatory organizations to better explain bitcoin and blockchain technology. This is evident in how they have put a lot of money into social media advertising, which has helped them reach more people and generate more buzz about the offerings.

Thanks to this, the company has risen to prominence as one of the most trusted brands in the cryptocurrency gaming industry.Stake.com is currently listed as the seventh biggest betting business internationally based on revenue, outperforming other well-established brands thanks to its 6 million registered accounts and over 600,000 regular and active users.

With ambitious aspirations for worldwide development and the ability to successfully navigate varying legal climates, Stake.com is undoubtedly at the forefront of the crypto-gaming revolution.

And it just keeps going.

Stake.com has highlighted plans to offer ‘unique and exclusive betting markets’ for its new audience. This includes esports, entertainment, and political events, all of which have the potential to produce significant income streams within the sector over time. As part of their company growth plans to maintain the competitive edge in an increasingly saturated industry, they provide a welcome bonus and a VIP program in addition to the 15 other promos that they already provide.

SOFTSWSS Reveals Some Predictions for Crypto Gambling

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New research from SOFTSWISS, a renowned IT supplier for iGaming, has revealed that the crypto-friendly gaming business is still growing impressively. That is, there is still a strong preference for crypto payments among players, despite the setbacks experienced in 2022.

The report’s findings, based on an analysis of data from 700 users of SOFTSWISS’s Game Aggregator and Casino Platform, were astounding. Total bets placed via the provider’s platform climbed by 31% compared to 2021, despite the volatility of the cryptocurrency market. Overall gambling earnings, measured by Gross Gaming Revenue (GGR; the sum of all bets and all payouts, including taxes and fees), increased by 36% year over year.

Impressive Growth Figures for Crypto

One of the most interesting revelations was that although the number of fiat-based initiatives has been growing, the influence of the existing global crypto community is not waning. It is still a priority for iGaming businesses to accept cryptocurrency payments and create new cryptocurrency-centric technologies.

Bitcoin is the most widely-bet digital currency despite a 60% price decrease in 2022, making up an astounding 72.7% of all crypto bets. Ethereum, on the other hand, has seen a 3.7% growth in popularity since 2021, and now accounts for 13.6 percent of all crypto bets. 5.5% of all wagers are placed on Litecoin, which is not far behind.

A total of 20.2 billion Euros was wagered on cryptocurrencies, a reduction of 14.6% compared to 2021. Nevertheless, the decline in crypto bets has been countered by the increase in fiat bets, which accounted for 76% of the total player bets by the end of 2022. This indicates that the growth of fiat bets has more than compensated for the decline in crypto bets.

High Expectations for the Future

SOFTSWISS is confident in the long-term viability of cryptocurrency in the iGaming industry despite the aforementioned swings and hurdles in 2022. Vitali Matsukevich, Chief Operational Officer of SOFTSWISS, claims that crypto’s fast transactions, privacy, and decentralization continue to make it a popular choice among gamers. He is optimistic that the trend toward using cryptocurrency by gamers will continue.

“Despite the fluctuations, crypto has already gained a strong foothold and has become an integral part of the market. For this reason, SOFTSWISS continues to strengthen its partners’ projects, whether fiat or crypto, with new innovative tools and solutions, providing operators with security, reliability, and top-level service.”

Vitali Matsukevich, Chief Operational Officer of SOFTSWISS

The sector as a whole is expanding and diversifying, and stakeholders increasingly gravitating towards digital services and products with crypto leading the pack.

Crypto Gaming in 2023: What to Expect

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As we go closer and closer to the year 2023, one of the most popular topics of conversation is play-to-earn (P2E) cryptocurrency gaming. This kind of gaming combines the most successful aspects of the cryptocurrency and gaming industries.

More people resorted to internet games as a way to socialize during the COVID-19 pandemic, boosting the development of the gaming industry as a whole. As we enter a new year, it’s becoming apparent that the recent uptick in global growth was no fluke.

A Novel Way to Game

The implementation of blockchain technology in play-to-earn games enables players to earn digital currency payouts depending on their in-game activities. Within the context of the P2E paradigm, players have the option of using cryptocurrencies to get payment for the time they spend participating in gaming activities or delivering other services to other users within the same virtual environment.

What differentiates crypto gaming apart from typical video games is that players, in addition to receiving NFTs, may own their in-game assets and convert them to fiat currency, trade them for other cryptocurrencies, or join a liquidity pool.

Thanks to this novel, community-driven business model, players, and creators may work together and more freely on game content.

A Stronger 2023

Although blockchain gaming and play-to-earn (P2E) enjoyed a surge in popularity during the crypto bull market of 2021, the industry was then struck hard by the arrival of crypto winter, which has been worsened by a couple of high-profile crashes, destroying the valuations of the top P2E firms.

Many speculated, because of the decline in values, that the P2E and gaming industries were only profiting from bull market circumstances, and that the long-term future is grim because of weak adoption rates.

However, there is evidence from recent studies that the predicted demise of P2E may be exaggerated since the vast majority of players are interested in exploring ways to earn cryptocurrency via in-game achievements.

Given that 64% of respondents claimed they had never played a P2E game with monetary benefits, the study findings suggest there is a lot of space for expansion in the P2E industry among existing players. Furthermore, 38% of U.S. gamers indicated they knew nothing about the use of cryptocurrencies, NFTs, or blockchain technology in gaming, suggesting that more education is needed in this area. That is more than enough to induce some growth in the coming year.

Dogecoin Use in Online Gambling on the Rise

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It is undeniable that memes are to blame for Dogecoin’s rise to fame as one of the most popular cryptocurrencies. The cryptocurrency is more often referred to as DOGE. The instantly identifiable outline of a Shiba Inu dog, which acts as the insignia for the business, has swiftly grown to become a well-known brand in a very short length of time.

There is no sign of Dogecoin’s popularity waning anytime soon, and new sites that take DOGE are popping up every day. Today, it’s no surprise that Dogecoin casinos are favored by gamblers, given the ease with which they can make deposits and withdrawals and the minuscule costs associated with doing so.

As it stands, Dogecoin is accepted by reputable companies.

A Change of Pace

For a long time, the widespread use of DOGE coins as a payment method has not materialized as many would have anticipated since many DOGE aficionados would rather HODL. However, Dogecoin’s popularity is soaring in one sector because of its speed and low costs: the gaming business.

Traditional casino games such as blackjack and roulette may now be played using cryptocurrency as the medium of exchange. While Bitcoin is the most popular option right now, Dogecoin is quickly gaining popularity.

When compared to Bitcoin, Dogecoin transactions complete far more quickly. Furthermore, due to DOGE’s widespread acceptance across the world, it may be used to make deposits at a large number of online casinos. Additionally, Dogecoin has a sizable following on social media, which numbers in the millions, and its supporters can be found in every region of the globe.

In the midst of the recent cryptocurrency downturn, Dogecoin has seen a surge in interest while other meme coins have mostly stagnated. To expand its user base and appeal to new investors, Dogecoin is also actively pushing its usage in daily transactions.

Is It a Good Investment for Online Gamblers?

The widespread use of cryptocurrencies and the excitement around them are not merely about financial benefits. Doge is an excellent and shrewd investment opportunity due to its unique position in the cryptocurrency market and its current cheap price. As a result, it has room to grow in value.

Despite this, Dogecoin, like the prices of all other cryptocurrencies, is subject to significant price swings. With the help of its dedicated investor base, this cryptocurrency has been able to outlive almost all of its forerunners in the altcoin market. To a greater extent than many other digital currencies, this has allowed it to maintain a high degree of stability.

Polygon Now on 1xBit

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Players and users of the popular gaming site 1xBit now have access to Polygon, a new cryptocurrency designed specifically for usage in crypto games. Polygon, a novel digital currency, is the brainchild of Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Together, the four of them saw the need to fix Ethereum’s lack of interoperability. Ethereum’s seamless interaction with other blockchains was a pipe dream until Polygon made it a reality.

Of course, it’s about a lot more than that. With Polygon’s simple-to-use architecture, developers now have a chance to introduce their own groundbreaking Ethereum-friendly blockchain. Now the development of an “Ethereum Blockchain Internet” has become feasible with the help of the Polygon network.

This ground-breaking network is completely compatible with Ethereum’s Virtual Machine (EVM). Chains that are connected keep their independence and control themselves. All of these systems are compatible with Ethereum and can communicate with one another.

Solid Debut

The cryptocurrency community as a whole has warmed to this new development due to its unique character. It thus comes as no shock that 1xBit has included Polygon as a bitcoin payment option. Since its inception, 1xBit has been a bitcoin betting platform that keeps an eye on the latest and greatest cryptocurrency developments to provide more betting alternatives to its customers. There is a really bright future for the project within the context of crypto gambling going forward.

The Polygon network stands out among Ethereum’s decentralized exchanges because of its emphasis on both interchain cooperation and decentralized security. This ensures that no blockchain is compromised in its pursuit of interoperability.

Some of the amazing features that users can look forward to include:

  • Support for dozens of other digital currencies
  • Even faster payments
  • Amazing welcome bonuses and other incentives
  • Fast and user-friendly registration
  • Unmatched anonymity capabilities

When using 1xBit, polygon transactions are quick and inexpensive. Players should expect to get their winnings as soon as possible. All new players are also eligible for a 7 BTC Welcome Bonus, spread out across their first four deposits. That is a really well-rounded package that will push 1xBit’s efforts even further.

Crypto Casino Project FoggyStar Receives $5 Million Investment

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Fast-rising crypto casino FoggyStar.com has recently received a whopping $5 million investment. Aimed at pushing the operator’s ambitious crypto plans forward, this investment from Canadian and Japanese investors will certainly shake things up not just for FoggyStar but for the online gambling industry as a whole.

For many people, this might come as a surprise especially considering the fact that the operator is just a few months old. It officially kicked off operations at the beginning of the year and its core product is just now in its alpha version. However, it has a lot going for it hence the confidence that the investors have in its operations.

As it stands, FoggyStar offers a solid range of games from reputable software developers including Play’n GO, NetEnt and Pragmatic Play. In addition to the crypto-powered casino games, the gaming site also features an outstanding bonus program that is specifically designed to appeal to the growing community of crypto gamblers.

More To Come

Clearly, there is a lot of optimism about the operator’s potential for success. With the investment secured, FoggyStar will be able to pursue even more growth. There are already plans for the development of additional features. The goal with most of these products is to create an open platform that can be scaled and used elsewhere. In addition to that, FoggyStar is working on ensuring that the products that are in development all use crypto at their core.

The approach has very clearly-defined targets too. Not only will the company be able to scale the audience but it will also be able to increase engagement and the trustworthiness of crypto products.

Speaking on the development plans, the FoggyStar team states that the goal is to ensure that the interests of their target market are met. The product will leverage industry trends while at the same time leveraging some of its unique selling points.

“The project is focused on the users and the security and transparency of the infrastructure that surrounds them. Our team aims to improve the project using innovative technologies and methods that will lead to a completely new game experience.”

All these are very important aspects and it is great to see that FoggyStar is paying close attention.

Plans for the Metaverse

FoggyStar, as it turns out, also has huge plans for the Metaverse. It is working towards becoming the very first online gambling venue in the metaverse. This move will not only push the industry forward but also redefine how we think of the casino of the future.

Paysafe Enters New York’s Sports Betting Market

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Renowned specialized payments services provider Paysafe has recently announced its expansion into New York’s rapidly-growing sports-betting market. This is a big play for the company especially as it pursues its ambitious plans to become the leading brand in affiliate marketing and online gambling payments. Its target markets for this expansion are the United States and Canada.

As it stands, Paysafe has already begun processing betting payments for some popular mobile sportsbooks in New York. It is also now behind several affiliate programs that are meant to increase eminence in the lucrative market. The latter is particularly important as it is a vital component in marketing. Both customer conversion and the growth of various online gambling brands hang on this.

Paysafe’s CEO of North America iGaming, Zak Cutler has been at the forefront of these developments which he believes will be very important for the wider market.

“Payments and affiliate marketing play essential roles in customer conversion and the growth of iGaming brands and the wider market. We’re proud to have supported the ongoing expansion of the North American online gaming space in 2021 through 2022, with our recent entry into New York – a pivotal market that will hopefully galvanize broader US state and Canadian provincial regulation,” he noted.

New York is not the first state that Paysafe is making a big play for. The company already has a solid presence in several other states including Montana, Arizona, Connecticut, Virginia, Michigan and Wyoming among others.

Partnership With Binance

Something that will certainly get crypto enthusiasts in the Empire State very excited is the planned partnership with Binance, one of the world’s most popular crypto exchanges. One of the indications that this was a very exciting development was the broad-based gains for stocks. This eventually stabilized and fell back to the breakeven line at about $3.46.

For Binance, this partnership is going to bring some new developments in addition to reviving previous projects. For instance, the crypto exchange is reopening EUR transfers via SEPA channels.

This reopening of the SEPA channels was possible because Paysafe will be Binance’s fiat on-ramps partner in Europe. The payment service provider has already developed a specialized platform that leverages their experience and resources in the online payments space. While the initial plans seem to be focused on the European market, we are optimistic that it could be scaled across several markets soon. It will not be surprising if North America becomes one of the partnership’s target markets as well.

Cashio Unveils Semi-Decentralized Blockchain Casino

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The world of crypto betting just got yet another boost thanks to a recent addition. Cashio, a new entrant into the sector, is making quite the debut by launching a semi-decentralized casino. This will not only offer customers a way of enjoying their favorite casino games but also give them the opportunity to profit via Cashio token.

A Revolutionary Gambling Offering

The gambling operator has recently detailed its plans for a revolutionary casino experience. As it stands, the company is developing some special decentralized games that will alter the casino as we know. Still, the target audience for this amazing product is mostly people who gamble crypto. That is already a pretty huge number.

According to the company, the goal is to integrate the gambling and NFT industries in a manner that allows investors to get a piece of the casino revenue. That is, of course, when the token price eventually rises to increased demand. Cashio has further committed to distributing the retained profits to the token holders. It will also be accumulating a massive amount into its Jackpot contract.

How It Works

Cashio’s Jackpot contract will gather BNB from the Casino earnings and from every buy/sell fees. It will then be deployed as a Lotto game. This Jackpot amount will then first be bought as Cashio Tokens thus boosting the price to the limits. As a result, the winner will receive their loot and the increase in the token’s value will reward Cashio Token holders in the process.

The operator will also be adding a 3-tier system where the rewards will be distributed to the token’s investors accordingly to their Holdings. This reward pool relies on Casino earnings and Cashio Token transactions. All the investors will not only be able to claim their rewards but also track all the useful information on the site’s Earnings Dashboard. More detail on this aspect is available on the operator’s whitepaper.

Is It Viable?

Well, the crypto and gambling spaces are always filled with new and interesting innovations. A good number of them are thriving or are at least headed there. Some do not make it due to several factors. As for Cashio, it is early on in its growth and it is hard to foreshadow where it will be a year or so from now.

Still, the casino operator has some solid ideas that could take off especially if crypto gamblers get on board. The innovative features will certainly make online gambling even more exciting than it already is.

BC.GAME Receives Gaming License from Curacao

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As the world of crypto and gambling continues to come together, several companies are beginning to reap the fruits of it. This is one of the fastest-growing sectors making it a key target for several businesses. Lots are succeeding. Recently, BC.GAME which is one of the fast-rising operators in the world of crypto-powered gaming has been all the buzz.

The company’s ambitious plans to extend its footprint are well on the course thanks to a recent development. It officially received a gaming license from the Curacao Interactive Licensing N.V. That makes it an officially regulated online casino and is a huge milestone for the company as it pursues full compliance.

This is a very big deal. The company has even gone as far as publishing its new license to the Interplanetary File System (IFPS). This platform allows for the storage of files securely in a blockchain in a manner that allows ownership to be easily proven through a private key. It also means that the file cannot be tampered with or even used for unintended purposes.

Speaking on the new development, BG.GAME COO Chris Butler noted the company’s new status as a regulated iGaming operator opens doors for opportunities. For instance, the operator will now be able to offer thousands of third-party games from leading game developers across the globe. In addition to that, the license also creates room for further ventures.  A sportsbook and a live dealer casino offering seem to top the list.

Huge Win for Crypto Gambling

As much as crypto-powered online gambling has grown over the years, it still has a long way to go. The BG.GAME development acts as a beacon of sorts that will likely kick off more growth. It is very difficult for crypto-only casinos to obtain gambling licenses but this is changing. Now that the company has proven that it can be done, many more will probably follow.

BG.GAME currently supports deposits and withdrawals using over 50 different cryptocurrencies which is very impressive. Even the casino businesses that have been around for decades have not been able to pull that off. Understandably, the crypto gambling scene is still picking up pace. We just must appreciate the small wins and acknowledge their role in pushing the whole industry forward.

It is also worth noting that this goes well beyond gambling. A license essentially affirms the legitimacy of crypto use. This should also be a decent way of showing more people that many existing digital currencies are viable and ready for mainstream use.