Cryptocurrencies have already contributed a lot of advantages to the casino world. They made banking at online casinos more secure than ever, thanks to its encrypted technology and each having its own personal history. Plus, they allow for super-fast transactions and online storage which means that they offer a huge level of convenience.
However, these advantages were mainly around service and so many casino veterans were quite happy to stick to their tried and trusted payment service. That was until now, as cryptocurrencies may provide something extra that was never before seen in the casino industry before, a 0% house edge.
The prospect of this would have sounded fanciful perhaps 10 years ago, because quite simply, if there is no house edge, then what exactly is in it for the casino? It would seem a like cheap gimmick which wouldn’t last or the sceptics amongst you may even have flagged it up as a form of dodgy deal.
A New Way To Make Money
However, the thing with cryptocurrencies is that they have opened up a whole new way for casinos to make money, and thus allowed them to level the playing field. Instead of hoping players lose money to gain profit, they make their money before players have even started playing.
Players purchase their on-site cryptocurrency, with the casino hoping that the value goes up in accordance with Metcalfe’s law. I.e. as more and more players want to get the benefits for 0% casino gaming, the demand goes up and others will then need to invest more into the currency to get their hands on it. Essentially, the casino is hoping that the same thing will happen to their currency that happened to Bitcoin in 2017.
You may now be thinking, “This sounds great, but is anyone really going to take the risk?” And the answer is yes. The first site with this business model is set to launch imminently, the aptly named, Zeroedge.bet.
Zeroedge.bet will be the first to give this unique new casino business model a go, with their very own cryptocurrency, ZeroCoin. They will be implementing the exact format that has just been discussed and offering, as well as a 0% house edge on casino games, fee-less sports betting too, so all types of players will be able to get benefits here. Their intention is to remedy some existing problems in the casino industry, and as they put it, achieve “maximum efficiency and scalability” of their platform.
Zeroedge.bet will certainly be the test dummy for this unique new approach to online casino gaming, with other operators and players alike monitoring what is a seriously big gamble in a realm of big gambles. The question remains now whether people will be willing to invest in ZeroCoin to benefit from perks of a 0% house edge and fee-less sports and thus prove the validity of Metcalfe’s law and the potential of cryptocurrencies as a futuristic finance option. If it all goes well for them then house edge may be out, and cryptocurrency casinos may be in permanently.