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The Effects of Cryptocurrencies On The Gambling Industry

Blockchain technology  has had huge effects on a wide range of industries. Gambling is now seeing a transformation as the growth of cryptocurrency enters the industry. Using cryptocurrencies is now a payment method available on new online casinos and betting sites. However, most of the established betting sites, for example, https://www.unibet.co.uk/betting , are yet to offer the payment option to its players. With this being said, it is growing as a method and the advantages it brings mean that one day it could take over as the main payment method that we use. The benefits of this are that it allows players to gamble anonymously and they can also play without having to create an account and send in any personal data to get their account verified. Another advantage for the gambling sites is that using the blockchain for the payment means there aren´t the fees associated with traditional payment methods, and players can also access their money much faster. Transactions completed on a blockchain automatically create a record that cannot be changed or deleted. This means that anybody is able to confirm that a transaction has actually taken place. Therefore, betting sites are able to show that they are honest and transparent. Anybody can view winnings and access their money easily.

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