Our team of advisors has been helping new casino operators in many jurisdictions to set up fully operational gaming operations within just a few weeks.
Here at GBO we bring deep experience in both of these fields.
We have been leading the way in advising entrepreneurs looking to gain a foothold in the cryptocurrency exchange market in Europe. Combining these two areas of knowledge makes us the perfect resource for you if you are looking either to set up a brand-new cryptocurrency gaming site or to add cryptocurrency capacity to an existing gaming operation.
Feel free to contact a GBO professional representative for your Crypto online casino
WhatsApp us: +972504938469, email us: [email protected]
The explosion of public demand to finance more and more forms of digital transactions with cryptocurrencies has moved strongly into the online gaming market. In the past, wagering was conducted with ordinary currencies like dollars, pounds and euros (fiat currencies) that had to be moved between live bank accounts and the online casino’s records. All of this made the transactions subject to scrutiny by authorities and limited the attraction of online gaming.
Cryptocurrency gaming brings complete anonymity for both players and the casino, and the level of security granted by blockchain technology guarantees the value of every transaction between the parties.
This upsurge in demand for capacity to handle cryptocurrencies along with fiat currencies makes it essential for operators of online casinos to incorporate handling of crypto wagering inside their gaming platform. This means that players must be able to transfer cryptocurrency assets into their casino account, to wager these in exactly the same way as they would regular currencies, and to withdraw their winnings via ordinary blockchain transactions.
Without the ability to handle cryptocurrency wagering safely and securely, your casino will lose out on a major slice of the potential gaming market.
What is an online crypto casino platform?
An online casino platform is a combination of services that enable the online casino operator to conduct a gaming business with a presence on the internet. This involves player registration, and a portal for them to sign-up, deposit funds, play, and withdraw.
It requires a casino website, which defines the purpose of the casino like what type of players it is looking to attract, and how it is going to promote the levels of activity and customer retention. Together with this must be the back end infrastructure that integrates a portfolio of gaming products, Payment Service Providers and internet marketing resources. It must be built with strong online security provisions and integrated with a back-office system that handles reporting, accounting, banking and statutory services.
Next, it requires gaming software that creates the features with which players gamble on the website must conform to regulations regarding fairness and integrity. There are stipulations in each jurisdiction that dictate how the game must derive a degree of balance by incorporating an accepted Random Number Generator.
The casino’s gaming platform integrates players’ fund management with the front-end gaming interface so that players can stake their bets in the game of their choice.
What is a Crypto Gaming platform?
The fundamentals of a crypto gaming platform are practically identical to an ordinary online gaming platform. The essential changes needed relate to how the movement of players’ assets is controlled. For a purely fiat currency casino, there has to be a complete integration with standard payment services that interface directly with bank accounts and credit cards. For a purely crypto gaming casino, the platform has to provide an interface for players to deposit crypto assets, similar to the concept of a crypto wallet in which users can store their cryptocurrencies. In the same way as players offering fiat currencies in a wager, a player can offer one or more units of any cryptocurrency held in the wallet. Winnings are credited back into the wallet. At any point, the player can withdraw some or all of the wallet contents into an external wallet.
How is crypto gaming different from fiat currency gaming?
Online cryptocurrency gaming is based on exactly the same principles as ordinary web-based gambling, the only difference being the ability of the player to stake units of cryptocurrencies instead of fiat currency. The casino front-end needs only to be able to register bets in a stake in the additional denomination (for example a Bitcoin, instead of a dollar). The actual processes remain the same – the tendered bet is deducted from the balance of that denominated currency in the player’s account when wagered. Any winnings are credited in the same currency back to the account.
What is the advantage of cryptocurrency gaming?
The most important advantage comes from the way any transfers of crypto assets into and out of the player’s casino account are completely opaque, compared to in a conventional online gaming site, in which funds must be sourced from bank accounts or credit cards, and the transactions are visible to authorities. Cryptocurrencies are built on blockchain technology, and they work completely outside the regular banking system. Adding cryptocurrency facilities to a gaming platform lets people who may otherwise have been discouraged or prevented from gambling with ordinary currencies to now take part in the same activities as other gamblers because deposits, bets and winnings cannot be tracked back to the players.
What is the most popular crypto gaming platform?
Most online casinos have built their operations on third-party gaming platforms for which they are paying monthly license fees. The advantages of this approach are a much shorter setup time, and avoiding the need for a very hefty investment up-front in software design and development.
Selecting cryptocurrency gaming software
A good platform will be kept up-to-date with new developments in the market, such as cryptocurrency gaming. Most of the platforms started working only with Bitcoin, but now many accept a wide range of cryptocurrencies. As a minimum, the cryptocurrency gaming software package should cover all of the language features that you need for your target market, and if the site is intended to be a mixed crypto and fiat currency gaming site, the package must incorporate all of the other features necessary (such as PSP) for standard casino operation.
Which is the best crypto gambling software?
There are many packages on offer in the market. The features to look for are the use of the latest technology, providing speed in transactions and highest security. The variety of games provided is important, and the choice should match the user profile of the target market. A simple and clean interface that even players with no prior experience find easy and simple to understand can get them playing on the online casino site faster. Other features like good customer support and high security are important aspects to be considered when choosing the package.
There are dozens of different software packages available and the choice depends very much on your own business needs. You should let GBO’s expert team guide you through the steps of choosing and implementing the best package for your own needs.
Some of the ways we help you find the right solution are to analyze the software provider’s company history. Being able to offer full crypto facilities is a good indicator that the package meets overall crypto gambling software standards. We also look at the market penetration – for example, whether the software is widely used in advanced crypto gambling countries like the UK, Lithuania and Curacao.
Our experts are also familiar with each software provider’s range of services. You will learn more from us than from talking to software vendors directly.
The choice of your crypto online casino software package can make a difference in every phase of the establishment and growth of your crypto casino. The great majority of players are already familiar with what your competitors are able to offer, so if you try to cut corners you will either fail to recruit them as customers or quickly lose their business.
There is very little brand loyalty in casino gaming, so your crypto online casino software package has to keep up with the market.
- The process of selection involves the evaluation of many features, such as:
- the range of functions provided, including a good user interface, and the range of digital formats it supports (cryptocurrencies, NFTs etc)
- the reputation of the vendor
- post-sales support services offered
- the cost of purchase, development or rental
With GBO as your support team, you will be kept aware of changes and updates that you need to be making to stay one step ahead of the rest. We can refer you to the suppliers of some of the best crypto online gambling platforms.