Cryptocurrencies, AI, and Blockchain in Online Casinos

Carol Graham

Cryptocurrency in the online casino industry | Techno FAQ

With casinos moving online, the focus is to create a more realistic and secure environment for online gamblers with the latest technology. 

Players are reluctant to move to online platforms majorly due to the security concerns; this is exactly where the need to apply blockchain in the online gambling businesses has emerged. This technology allows operators to provide the optimum and the highest level of transaction security. It also enhances the users’ confidence in a platform and helps attract new clients.

The reasons to adopt blockchain in online gambling:

  • It is immensely secure as it is impossible to change data once it is stored in the distributed ledger.
  • The virtual casinos allow their customers to make cryptocurrency payments. 
  • Using digital money is Secure as the users do not have to provide their personal details during deposits. It ensures that gamblers’ private information to be safe and protected from third parties.
  • The system records all operations automatically throughout the game. Thus, settlements between casinos and players are completely transparent
  • It is virtually impossible to hack any blockchain systems. So adopting blockchain will allow protecting online platforms from unfair gamblers and swindlers
  • A fee of cryptocurrency payment transactions is substantially low or completely absent
  • With cryptocurrencies, the transaction is faster as the deposit replenishment, and withdrawals require much lesser time than the conventional payments
  • Replenishing casino accounts using cryptocurrencies maintains anonymity as players can conduct all transactions anonymously.

With online gambling becoming the trend and multiple websites like 1001win becoming popular among gamblers, cryptocurrencies and blockchain will be one of the top technologies being adopted by the gambling industry in the upcoming years. Moreover, the major gambling operators will eventually deal only with digital money, leveraging blockchain to store sensitive data.

To remain competitive in 2020, gambling operators continue to integrate their online platforms with cutting-edge technologies. Artificial intelligence and VR solutions remain the primary prosperous areas. 

In recent times, AI programs allow online casinos to solve the below tasks:

  • An AI algorithm integrated into the platform can be used to examine the behavior pattern of players helping to develop customized offers for them accordingly.  
  • AI has proved to help fight against gambling addiction and swindlers.
  • Exploration and tracking of player activity will help to predict their attribution. This information is used while designing customer retention campaigns.
  • Automation of the client communication process is simplified on integration with chatbots.

Other technologies are also becoming very popular in the gambling industry like – VR solutions helping to acquire and retain customers. Looking ahead, the integration of technologies into online gambling will not only expand the number of customers but also improve brand awareness and security.

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