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Cryptocurrency and Online Gaming: Upsides and Downsides
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At this moment in time, everyone and their dog must have heard about the power of Bitcoin. People turn to crypto for quicker and more private transactions. On the other hand, players turn to online gaming platforms for their easy accessibility.
Besides making waves individually, cryptocurrency and online gaming have crossed paths on many platforms. Consider a casino like ReelCrypto, with hundreds of thrilling games that allow players to transact using Bitcoin and other forms of cryptocurrency.
This growing trend raises many questions. Why do some players prefer using cryptocurrency on online gaming sites? What are the upsides and what are the downsides?
Upsides of Crypto in Online Gaming
The integration of Bitcoin, Ethereum, and other cryptocurrencies in online gaming delivers several significant advantages. Here are some of the main ones:
- Anonymity and Privacy
Whenever the discussion is about crypto, there’s always word about anonymity and privacy. These digital coins still bring this substantial advantage to online gaming platforms.
Unlike credit cards or bank accounts, cryptocurrency transactions do not require personal information. Players only need to provide a wallet address. This extra layer of privacy is invaluable to many. Some players prefer discreet gaming, and crypto gives them that luxury.
- Lower Transaction Fees
Traditional payment methods usually demand fees that can eat into players’ gaming budgets. That’s not the case with cryptocurrencies, as these costs are significantly reduced. Most crypto transactions require a minimal network fee, making it a cost-effective option. Players can then spend more on what they enjoy, gaming, rather than losing money to transaction fees.
- Speed and Ease of Transactions
One of the pain points online gamers face is waiting hours and sometimes days to withdraw funds. Bank transfers, for example, take multiple business days. Some e-wallets allow instant transactions, but it’s fiat, which can easily take hours. Cryptocurrencies eliminate this problem by allowing near-instant transactions. Whether players are funding their accounts or cashing out winnings, the process is quick and straightforward.
Downsides of Crypto in Online Gaming
The upsides of using cryptocurrency in online gaming are clear: greater privacy, lower costs, and faster transactions. Now, let’s consider the downsides below:
- Regulatory Hurdles
The regulatory environment for cryptocurrencies is still evolving, which poses a challenge for online gaming platforms supporting digital currencies. Different jurisdictions have varied stances on the legality of using Bitcoin and other altcoins for gambling, among other activities. For this reason, many crypto online gaming platforms can’t operate on a global scale. Also, many players will be skeptical, not wanting to go against the law.
- Fraud Prevention
Cryptocurrency transactions are irreversible, and that allows for potential fraud or theft. For instance, a player can sign up on a fraudulent gaming platform, and if they send coins, they can’t get them back. That’s why ensuring playing at reputable and secure platforms is vital.
Bottom Line
Crypto has brought substantial improvements to how players transact on online gaming platforms. These benefits foster the increasing integration of cryptocurrency options in the online gaming industry. However, there are security issues to be resolved.
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BETER names Juliana Querino as LatAm Business Development Manager
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Award-winning fast-betting content provider strengthens its position in the region with the latest hire
BETER, the in-demand provider of fast-betting content, data, and live streaming for esports and sports, has strengthened its team with the appointment of Juliana Querino as LatAm Business Development Manager.
Juliana, a seasoned business development specialist based in Brazil, has extensive experience in the Latin American iGaming industry. She has previously held various business development positions at Better Collective, Endorphina, Salsa Technology, and other companies. Her expertise was recognized by the G&M News platform, which included her in its Top 5 Women in the Industry 2024 list—highlighting women making significant contributions to the growth of iGaming in the region.
In her new role at BETER, she will drive the company’s expansion across Latin America, forging new partnerships with regional operators and aggregators, particularly in Brazil, where demand for BETER’s content continues to grow.
She will also drive BETER into new LatAm markets where the provider does not currently have a presence while managing relationships with existing partners to ensure they get the most out of the provider’s next-gen content offering.
Chuck Robinson, Chief Revenue Officer at BETER, said: “Latin America is a fast-moving market with opportunities opening up all the time. To capitalize on these, we need an exceptional specialist, and in Juliana, we have found exactly that. Her expertise and deep market knowledge make her a valuable addition to our team.
“We are already experiencing strong demand for our fast-betting products and solutions across the region. With Juliana on board, we can further identify key operators that would benefit from partnering with us, driving even greater growth.
“I’m delighted to welcome Juliana to the BETER team.”
Juliana Querino commented: “Fast-betting content has become essential for operators in Latin America and beyond, and I’m thrilled to join BETER in expanding awareness of its award-winning portfolio.
“BETER is renowned for its ESportsBattle and Setka Cup tournaments, which are already popular among bettors in LatAm. But our offering goes far beyond that, and I’m eager to showcase the full suite of products and solutions to operators from Brazil to Peru.”
“I look forward to helping BETER maximize the full potential of the LatAm market.”
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BetBreak.org Publishes New Workbook to Help Gamblers Take a Break from Sports Betting
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BetBreak.org has published “When and How to Take a Time-Out from Sportsbetting,” a brand-new workbook designed to help readers understand how taking a break – of any duration – from sports betting can be transformational for their mental health, financial health, and relationships with friends and family.
“This workbook and self-study guide is for anyone who wants to explore their relationship with gambling and it’s especially for those who are wondering whether it might be time for a break from sports betting,” said addiction expert Dr. Jeffrey Reynolds.
The workbook includes information about how to know if you are ready to change, tips for curbing your sports betting if you aren’t ready to quit, setting SMART goals, and limiting access to the three things necessary to gamble. The guide also contains proven tools for managing cravings and urges, resources to regain control over your finances, strategies for dealing with guilt and shame as well as stress management tips.
“The BetBreak workbook is based on the science of behavior change and helps readers make the sustainable shifts in habits necessary to live life with more presence, focus, well-being and happiness,” Dr. Reynolds said.
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SCCG Joins Fantasy Sports & Gaming Association
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SCCG Management, a global leader in gaming advisory, business development, and investment strategies, has secured membership to the Fantasy Sports & Gaming Association (FSGA). As the premier organization dedicated to advancing fantasy sports and sports betting, FSGA provides a collaborative environment where industry leaders, innovators, and pioneers shape the future of these rapidly growing sectors.
By joining FSGA, SCCG Management reinforces its commitment to staying at the forefront of industry trends, market developments, and emerging opportunities within fantasy sports and sports gaming. The partnership will allow SCCG to engage with key stakeholders, participate in thought leadership discussions, and contribute strategic insights to the evolving landscape of fantasy sports, sports wagering, and interactive gaming experiences.
With the fantasy sports and sports betting industries experiencing unprecedented growth and innovation, SCCG’s expertise in business development, technology integration, and investment strategy will bring valuable insights to the FSGA community. As a member, SCCG will actively participate in industry conferences, working groups, and networking events, including the upcoming 2025 FSGA Winter Conference, which serves as a hub for leaders, visionaries, and top executives shaping the future of fantasy sports and sports betting.
“FSGA is at the center of innovation in fantasy sports and gaming, and we are excited to join this influential community. At SCCG, we are always looking to align with industry leaders who are shaping the future of interactive sports entertainment. Through this partnership, we look forward to collaborating with fellow members, exchanging insights, and driving innovation across fantasy sports and sports betting,” Stephen Crystal, Founder & CEO of SCCG Management, said.
As SCCG continues to expand its global impact in fantasy sports, sports betting, and gaming technology, its membership in FSGA further solidifies its position as a trusted advisor and partner to the industry’s most innovative companies.
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