It feels like at long last we’ve reached a point of relative clarity regarding the state of cryptocurrency. For the better part of a decade we debated its place in the financial world, its potential to overtake fiat currency, and so on. Now, while it may not have gotten much easier to predict the future in terms of cryptocurrency values, it feels as if cryptos’ place in the world has stabilised. It’s the blockchain that seems to have a dynamic future; cryptos are established as niche, token-like currencies and as investment commodities.
While this may be the state of things, however, it doesn’t mean that we shouldn’t keep our eyes peeled for potential evolutions of cryptocurrency as actual money. And while many predictions about industries in which cryptocurrency could catch on have proved ambitious, if not flat-out wrong, there may yet be some that wind up becoming havens for crypto spending. As of now, there’s some logic to the idea that the popular casino websites of the UK and Ireland might prove to represent just such an opportunity.
To consider these websites as a whole is perhaps difficult, because they all have slightly different offerings. But a collection of high-end digital slots based in Ireland does a nice job of summing up the offerings and the general approach of the UK and Irish digital casino platforms. It’s packed with games, filled with appealing bonuses, and so on. But it’s the payment options such a collection presents that are most relevant to the point about cryptocurrencies. It’s made clear that these casino platforms accept a fairly extensive range of digital payments, from services including PayPal, Neteller, Skrill, Boku and more (as well as major credit card providers like Visa and Mastercard).
These present two possibilities relevant to cryptocurrency. The first is that these platforms are ready and waiting for the arrival of direct cryptocurrency payments. That selection of payment providers is not random or accidental; they’re processors valued for security and speed in the digital arena, and casino gamers favor them for these same attributes. Cryptocurrencies are essentially designed to provide the same value, and thus make for natural, and perhaps even ideal additions to – or even replacements of – the existing methods.
The second possibility is that these existing payment methods will indirectly facilitate widespread cryptocurrency usage on casino gaming platforms like these. That may seem like a sort of conflict of interests for them, but there are already subtle hints of major payment processors like these integrating leading cryptos. PayPal has produced such hints in various ways over the last few years, and Skrill actually already handles crypto purchases and sales – which means that already, one can use bitcoin to fund a Skrill account, and then use said account to deposit funds at a casino site. It’s an indirect process, but still a means of putting crypto to use as actual money.
Given all of this, it actually seems more likely than not that we’ll begin to see and hear of more cryptocurrency involvement at some of the big Ireland and UK gaming sites. Whether or not this will truly constitute a “boom” remains to be seen, but digital casinos would represent one of the bigger industries to embrace cryptocurrency, and could legitimately drive a degree of interest.