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How to open a crypto casino in 2022

Aug 30, 2022 Artyom Ustinov
Table of Contents
More and more online casinos are striving to implement cryptocurrencies as a method of payment. If you are just planning to start an online gambling business, you should make them a default option. Today, a big part of the target audience simply leaves a casino if it does not support Bitcoin, Ethereum and other digital coins.
Crypto casino

All crypto gambling websites can be divided into three categories:

  1. Crypto casinos. Users can play slots, video poker, blackjack, baccarat, and other table games. Video slots are the most widespread game type, and these casinos have thousands of them. Visitors can always find something to their liking, thus staying on a website for a longer time.
  2. Crypto poker. This category includes poker rooms where players can bet in cryptocurrencies.
  3. Crypto betting. Betting on sports with Bitcoin and other tokens.
Crypto casinos are online platforms that provide access to gambling and are based on blockchain technology. They allow users to deposit and withdraw money using cryptocurrencies. Fiat money transactions may or may not be available.

Advantages of a crypto casino

There are a number of advantages to opening a cryptocurrency casino, the main one being that it attracts thousands of players from all over the world. Other advantages include:
  • Privacy. All the clients’ payment data remains confidential. Transactions are made without bank account information and are not tracked.
  • Minimal transaction fee. Since payments are processed without the involvement of financial institutions or other intermediaries, there are no huge commissions. Both deposits and withdrawals require only a small fee.
  • Low minimum deposit. Players can deposit a very small sum of money, which significantly expands the target audience.
  • Instant payments. All transactions are processed almost instantly. Users do not have to wait long to receive their money.
  • Global access. Crypto casinos are available to gamblers worldwide. Digital coins can easily be converted into any fiat currency.
A crypto casino ensures legal, tax and financial security to its owner. Fraudsters are unlikely to register on such a platform.

Main steps to start a blockchain casino

The process of opening a crypto casino includes several steps, and is not much different from launching a traditional online gambling platform.
Crypto casino
These steps are:
  1. Analyzing the market and identifying the target audience.
  2. Making a list of requirements to a team of developers.
  3. Ordering website development and software.
The most crucial part of the process is software development. Software usability will have a direct impact on the traffic. Another thing you should pay keen attention to is choosing the features your website will have. Their number and complexity affect the whole development process and determine the value of your platform to your customers. If users get a positive experience, they will likely come back and tell their friends about your casino, thereby increasing its popularity.

Other features of crypto casinos

Every year, online casinos that support cryptocurrencies are becoming more and more popular among gamblers. This has a number of reasons.

  • Transparency of cryptocurrency

All transactions are carried out on blockchain, a decentralized and immutable ledger. Once a transaction is made, it becomes permanent and cannot be canceled or altered in any way. This technology excludes the possibility of fraudulent behavior since all personal data is well-protected. As a result, crypto casinos offer an additional level of security.
Crypto casino

  • No chargebacks

Online casinos often suffer from chargebacks, which account for a large part of lost revenue. A chargeback scheme involves the following steps:
  1. The customer pays for a service or product with a credit card.
  2. The seller provides the service or delivers the product.
  3. The customer reports the fraud and gets their money back.
With cryptocurrencies, the risk of chargebacks is practically eliminated. Information about a completed transaction cannot be changed, therefore users have no way of getting their money back without administrators’ intervention.

  • Expanded customer base

Crypto casinos are popular among millennials. This cohort has a constantly growing paying capacity, which is beneficial to gambling business owners due to the increase in potential revenue. Switching to cryptocurrency will allow you to attract this progressive group of gamblers. All in all, launching a crypto casino is a reasonable decision for companies that want to explore the modern gambling market.

Obtaining a license for a crypto casino

Currently, there are two categories of casinos operating in the crypto gambling market. Some adhere to the legal framework, working on growing and developing the industry, while others try to circumvent the law. The latter face a number of problems. Working in such a gray zone may expose a company to third-party claims, as well as preclude it from cooperating with advertisers, software developers and financial institutions. To work legally, it is necessary to obtain a reputable license. One of the main criteria for choosing a jurisdiction is a proper and reliable infrastructure for regulation and supervision of gambling. Getting a prestigious permit will greatly increase the reputation of your online casino.
Crypto casino
The following jurisdictions are suitable for crypto gambling:
  • Curacao;
  • Isle of Man;
  • Malta.
All of the above-mentioned features and advantages of cryptocurrency casinos lead to a conclusion that such platforms will be rapidly developing and increasing in popularity in the following years. The numbers speak for themselves: a few years ago, crypto payments accounted for less than 50% of all transactions, and now this figure is approaching 90%.
Artyom Ustinov

Artyom is Head of White Label & Turnkey Solutions and has been working in complex B2B/B2C sales, as well as business development and management consulting in iGaming for more than 15 years.

Together with the Key Account Management Team, he has helped over 100 start-ups and experienced gaming companies to launch their projects with SoftGamings.

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