The best 7 years for bitcoin casinos

In the iGaming industry, Bitcoin casinos emerged as online gambling platforms that accept cryptocurrencies as payment. Like traditional casinos, they feature several captivating games, such as slots, poker, blackjack, and roulette.

The key difference is the blockchain technology that ensures players’ transparency, security, and anonymity. Plus, such casinos provide faster transactions and lower fees, making them attractive opportunities for gamers. Here’s the complete list of crypto casinos as of 2024. 

As Bitcoin casinos celebrate seven years on the market, let’s examine their journey through the years and see how the landscape has evolved. 

The Emergence: 2014

The first Bitcoin casino, Satoshi Dice, appeared in 2012; however, the concept only matured two years later when it started gaining traction in the market. So, who are the early players in the blockchain space?

First – SatoshiDice, known for its simplicity and instant betting options, was a pioneer in demonstrating the capabilities of cryptocurrencies, including Bitcoin, in online gambling. 

Second – Bitcasino.io became a go-to option among gamers thanks to its wide selection of games and user-friendly interface.

Third — mBit Casino, which features a variety of games and attractive bonuses that have drawn many users to try it. 

While on the edge of innovation, Bitcoin casinos faced some challenges, including regulatory uncertainty, trust issues, and technical barriers. However, the advantages of lower feeds and increased privacy brought crypto casinos back into the game.

The Boom: 2017 

It all escalated with Bitcoin’s valuation. In 2017, it experienced a dramatic increase from $1,000 at the beginning of the year to $20,000 in December. This directly impacted Bitcoin casinos, as they started attracting more users to the landscape. 

Here are some of the Bitcoin casinos that stood out in 2017: 

• BitStarz became a favourite among Bitcoin enthusiasts thanks to a wide range of games and fantastic customer service
• FortuneJack attracted players with its diverse games and bonuses
• mBit continued to ride the wave of fame and introduced new features, further enhancing user experience on the platform 

Mainstream acceptance: 2020

By 2020, Bitcoin casinos competed on the same level as traditional gambling platforms. The cryptocurrency integration allows these casinos to offer transparency and security of blockchain technology while offering a range of games. Plus, many traditional casinos started to accept Bitcoin as a payment. 

Casinos started to ensure fair play, use advanced encryption technologies, and even offer two-factor authentication to stand out. These efforts led to big partnerships like Sportsbet.io and Watford FC or Cloudbet and Esports Events.

Regulatory changes: 2022

In 2022, regulatory changes hit the industry. In Europe, the European Union’s Markets in Crypto-Assets (MiCA) regulation emerged, while in the US, the SEC and CFTC took place. 

Expansion and diversification: 2023

As the world started slowly recovering from the coronavirus pandemic, the cryptocurrency market saw the introduction of several digital currencies that were quickly adopted in the casino industry. These include BTC20, Wall Steteet Memes (WSM), and Evil Pepe COin (EVILPEPE), which all feature unique benefits and strong community backing. 

Plus, many Bitcoin casinos expanded their offerings the same year, with sports betting, live casinos, and mobile gaming leading the way. 

Future prospects: 2024

In 2024, the landscape of Bitcoin casinos looks promising, with continued mainstream adoption and growth of the crypto gambling market, which aims to hit $250 million by the end of the year. Furthermore, such technologies as blockchain and smart contracts, artificial intelligence, and virtual reality further solidify Bitcoin casinos’ strong positioning for the future. 

In the coming years, we will likely see regulatory evolution, ensuring compliance and fostering a safer gambling environment, technological advancements in QI, and market expansion, driving the adoption of cryptocurrencies and the rising popularity of online gambling.