LONDON, May 25, 2022 /PRNewswire/ — Two of the major current topics in American commerce are set to combine to make for one of the biggest trends affecting America’s economy in 2022, according to a number of tastemakers including igaming experts at Panoptic Media.
Speaking in light of an increase in availability of gambling nationwide since the start of this year, Paul Kelly of Panoptic stated: “The conditions are perfect for US gambling and cryptocurrencies to become inextricably linked as we move forward. Unlike much of the West, the USA has been a very recent convert to gambling, especially online. That means that there are very few set parameters for how people expect sportsbooks and casinos to look. With Bitcoin and other cryptocurrencies also attracting attention, it’s a perfect storm.“
While the conditions do indeed seem opportune for potential crypto gamblers and businesses aiming to become the best Bitcoin casino, it’s nonetheless considered that any steps taken should be cautious ones to begin with. Recent heavy weather in the markets has left Bitcoin facing longer and deeper drops than ever, and altcoins are also falling against the dollar.
“As with anything in gambling, it makes nothing but sense to be careful with crypto and only ever invest what you’re comfortable losing,” Kelly confirmed, adding: “You’re told when investing, on Day One, that the value of investments can go down as well as up. So crypto gambling needs to be seen in that context. If you’re buying Bitcoin right now, it’s fair to say you’re banking on it rallying out of this present dip. If you’re planning on gambling with Bitcoin, the hope is that you’re taking a falling asset and hoping to cash out when it rises again. None of that is guaranteed, but that’s the nature of speculation itself.”
Nonetheless, crypto is interesting gamblers in the current American market because it allows a level of freedom and immediacy that isn’t easy to find elsewhere. Experts indicate that its popularity with gamblers arises from three key advantages over fiat currencies. First, its speed of transactions compared with conventional currencies; second of all, its anonymity; and thirdly, a self-governed nature that means bankers’ or merchants’ fees are non-existent.
Experts at Panoptic and elsewhere will continue to monitor the relationship between digital assets and igaming as it develops. Crypto is already being heralded by gamers in Europe as a way to circumnavigate the often restrictive regulations around gambling in those countries. In America, where light-touch regulation is more common, the conditions for a crackdown on crypto are less immediately obvious.
“We’ve already seen lawmakers in France move to make Bitcoin more tightly regulated, and if that pattern holds then gamblers in Europe may look more seriously to offshore gaming providers such as those already existing in the Caribbean. Should American providers embrace Bitcoin more thoroughly, then this will be encouraging to European players who are currently at least Bitcoin-curious, to coin a phrase,” said Kelly in closing.
SOURCE Panoptic Media