Over the past few decades, casinos and sports betting shops have cemented themselves as central sites where people can go to gamble. Whether it’s placing a bet that your favorite team will win or simply rolling the dice to try and win big, gambling is a gigantic industry with a mammoth user base.
In 2021, the worldwide market size of online gambling and casinos was well over $231 billion, demonstrating the huge degree of funding, support, and financial activity that occurs in this sector. That said, 2021 was also the year where the industry struggled most, with the inability to access brick and motor sites leading to the widespread lack of these services.
During pandemic conditions, those interested in gambling need an alternative method of accessing their local sites. The cryptocurrency industry took full advantage of this, creating online platforms that were filled with new opportunities, great odds, and exciting betting systems.
Duelbits, a market leader in crypto sports betting, has created an exciting space that is now bustling with activity. While gambling was once bound to physical locations, the world of crypto gambling is now fully in swing.
Let’s explore exactly how cryptocurrency intertwined its way with these profit-heavy sectors.
The Development of Cryptocurrency in Gambling Spheres
The cryptocurrency industry uses blockchain technology to create a ledger system that is decentralized, transparent, and highly traceable. These conditions make blockchain systems a fantastic option for the gambling industry, as it establishes a fair, highly monitored, and easily accessible system for all.
Equally, the use of cryptocurrency itself creates an instant form of financial distribution, with users being able to trade crypto into their chosen fiat currency for rapid cashouts. The additional flexibility that cryptocurrency offers makes it a wonderful match for betting, with early crypto casinos seeing incredible success.
Crypto casinos mirrored typically online casinos, providing an exciting, engaging, and potentially lucrative experience for any users who signed up to a betting platform. Yet, the additional benefits that betting and winning crypto offer have made this into a dynamic and fast-paced gambling circuit.
Yet, while there were almost 3 billion crypto bets placed online in 2021, the real success when pairing gambling and cryptocurrency has arrived in sports betting. The traditional sports betting industry notoriously offers a poor user experience, with customers having to travel to their local store to place and retrieve bets.
Cryptocurrency sports betting is completely accessible online, allowing users to create accounts and rapidly start betting. Without the need to move about and travel to find a sports betting site, users can also spend more time browsing through different odds and opportunities before placing their bets.
Platforms like Duelbits have long focused on the ease of cryptocurrency sports betting. They have crafted a uniquely easy online onboarding process, letting new customers get started in a matter of seconds. By connecting crypto wallets to the platform, users are ready to go in under five minutes.
The high degree of accessibility to both cryptocurrency casinos and sports betting is among their leading benefits. By offering a competitive experience to traditional gambling spehres, while making actually engaging with these betting mechanisms much easier, crypto is beginning to capture elements of the gambling market.
Expanding Into Popular Culture
Crypto casinos and sports betting platforms were, naturally, first embraced by communities that were already competent in the world of cryptocurrency itself. A good point of reference for this is that the vast majority of American citizens still do not know what cryptocurrency is, with only X% being able to pass a crypto literacy test.
Yet, over the past few months, we’re starting to notice a change in this trend. While crypto sports betting was once only known by people who engage in blockchain communities, this is now far from the only community on these platforms. Most recently, crypto platforms like Duelbits have partnered with the Argentina International football team and the Aston Villa FC.
Beyond a global network of international supporters, Argentina FC has 13 million followers on Instagram while Astron Villa FC has 3 million. Due to these astronomically high numbers of supporters, more people than ever before are actively hearing about crypto betting platforms and checking them out.
Football is at the root of many forms of popular culture. As the most popular global sport, the ability to break into this distinguished market is a method that crypto platforms can use to gain international favor. Especially as other uses of blockchain come back into mainstream news cycles for their positive innovations in a range of industries, more and more people are turning their eyes toward crypto again.
While we’re only just seeing the tide start to change around cryptocurrency and its public sentiment, the major movement into mainstream culture is an extremely positive aspect to keep tabs on.
Final Thoughts
Companies like Duelbits have allowed casino and sports betting fans around the world to access a stable, profitable, and exciting method of gambling online. Yet, their most impressive movement over the recent months has been the expansion into popular culture, with partnerships with Aston Villa and Argentina bringing a wave of new users.
Combined with the platform’s easy onboarding practices and favorable rates, Duelbits is starting a mainstream revolution when it comes to the utility of crypto. While once seen as an aloof technology, if people are able to use it to bet and interact with their favorite teams, we may see the sporting world help to spike cryptocurrency back to its 2020 highs.
Propelled by the gambling industry, crypto is making a true comeback.
