How the Crypto Crash Will Impact Online Gambling
The expected crypto crash has finally happened. Whether we have actually seen the true bottom of this crash remains to be seen. However, we can now begin to speculate how this impacts the world of online gambling.
Today, we will take a look at how the crypto crash will impact Australian online casinos. Smart gamblers can take advantage of this situation both at the tables and away from them.
Online Gambling Will Be Cheaper For a While
The value of Bitcoin is down around $25,000 from its all-time high. When this happened, all cryptos dipped as well. Some dipped significantly, such as Ethereum. Others experienced less significant dips. This dip can be to the advantage of some online casino gamblers.
For starters, it will be cheaper to deposit at some online casinos in Australia. The minimum deposits for online casinos are generally not updated frequently. If your casino required a .0001 BTC minimum deposit last month, chances are that minimum is still the same. The same rules apply to other coins like Ethereum and Litecoin.
As such, it costs less to deposit using crypto at many online casinos. If you’re playing BTC pokies or other online casino games with crypto, the amount of money you’re risking will also be a lot less.
Faster Transaction Times
The crypto crash will also have the benefit of there being fewer people sending transactions on the blockchain. That’s because many of the panic sellers have already gotten out of crypto. As such, your deposits and withdrawals of crypto will be faster than they were before.
While that’s not normally a big concern, there were times where BTC and ETH transfers were taking up to 12 hours or more to complete. That’s a long time for your money to be floating around.
You Get More Crypto For Your Money
With prices now about half of what they were a month ago, now you can get more crypto for your money. You can buy almost twice as much for the same money in most cases. For some coins, you can get significantly more for the same money.
That doesn’t change the value of your assets, but it gives you a lot more room to grown. If you buy BTC at $36k and it goes on another bull run, you’re going to make a handsome profit.
Online Casinos Will Increase Bitcoin Promotions
Online casinos will take advantage of this crash by increasing their Bitcoin and crypto promotions. While crypto is worth less, the major coins will bounce back and online casinos are ready to start stockpiling crypto.
As such, you will see larger welcome bonuses, new reload bonus offers, and awesome free spins offers for Bitcoin and crypto depositors. If you plan to make a deposit with Bitcoin, shop around to see if you can stretch your bankroll with awesome Bitcoin bonus offers.
Few Bitcoin Scam Sites – For Now
The good news is that whenever Bitcoin and crypto crashes, the scammers tend to take a break from scamming. You’d think they would do the opposite, but most scammers tend to come in at the height of a coins mania or bull run to make a quick buck.
This means that, for now, you will see fewer scam websites in the world of crypto. That doesn’t mean that you should let your guard down. There will be scammers that will still operate during this time. The difference is that they will not be in the same numbers as before the crash. Once crypto starts to come back, they will return. It’s a cycle as predictable as Bitcoin and other cryptos.
Victorian MP, Russell Northe Resigns Due to Problem Gambling
Victorian Nationals MP, Russell Northe has resigned due to problem gambling and depression. This is following a paid leave since June 2017.