Latest Updates in the Online Casino Industry

Bitcoin’s rise gave way to the unexpected popularity of online casinos. They are now competing head to head with land-based or brick and mortar casinos in terms of revenue. The main advantage of these highly modernized casinos is the convenience it gives to players; they can bet at the comfort of their own homes, without traveling for miles just to get to Vegas or New Jersey. Also, the change in the laws of some countries and states allowed greater freedom for online casinos to operate. Add the benefits of Bitcoin to the equation and you wouldn’t have to worry about anything related to governments and hackers. Bitcoin is decentralized and allows anonymity so you can enjoy peer-to-peer transactions, or in this case, person-to-operators transactions without giving away personal information.

This continuous popularity of online Bitcoin casinos is flocking the internet and media outlets. Bitcoin casino news can be accessed with a swipe of your fingertips. At this very moment, however, the latest news and updates in the online casino industry are as follows:

Online casinos are top contributors to UK’S gambling revenue

The UK Gambling Commission released the total revenue of its casino industry from April 2016 to March 2017. The biannual report revealed that casino products constitute the 56% remote gambling revenues of the UK with £2.6 billion Gross Gambling Yield (GGY). This means that online casinos, together with their massive collection of games and Bitcoin-exclusivity contributed to a big percentage of UK’S gambling revenue.

The creation of Bitcoin Cash for gambling

If you’ve been reading Bitcoin casino news lately, you may have heard of this new innovative product. The hard fork of Bitcoin, Bitcoin Cash, is slowly penetrating the market of online gambling. It is bigger and better than what Bitcoin can offer but don’t forget that it started and created with the original Bitcoin. This new currency is superior in terms of transaction speed and Blockchain’s size. It still promotes peer-to-peer electronic transaction but it now features 8MB blocksize limit that can allow 28-34 transactions per second or almost two million transactions per day.

New Jersey’s online and land-based casinos are soaring high

The state, New Jersey, is well-known for its casinos. When online gambling was legalized in 2013, the place has become a safe haven for casino lovers and operators who wish to make profit through Bitcoin and other cryptocurrencies. Add the revenue of land-based casinos to the picture and you will see the massive success of New Jersey. The online gambling market revenue garnered $20.75m in December 2017.