Keane Eclestone, an igaming expert says that crypto casinos are becoming more popular because they offer security and privacy. While crypto casinos are perceived as being more dangerous than online gambling, Ecclestone claims that they can be played safely by those who have access to their licensing information. Ecclestone stated that bettors could also reduce their risk by selecting crypto casinos with positive reviews.
Crypto Casinos vs Traditional Online Gambling Sites
Like many innovative services and products, crypto casinos have witnessed a rise in popularity. There are many reasons that bettors flock to online casinos. Most of these have to do the drawbacks of traditional casino sites.
While crypto casinos have clear advantages, they also come with potential drawbacks that could increase the risk for their users. This perception of online cryptocurrency casinos as being more dangerous is compounded because many aren’t regulated or are located in areas that don’t have regulations.
Keane Ecclestone is an igaming copywriter and crypto-copywriter who has recently founded Casinos Cryptos online platform. It ranks crypto casinos according to licensing information. Ecclestone says that by providing such a service, the platform is helping its users avoid fraud casinos.
Ecclestone explained to Bitcoin.com News his organisation’s rating of crypto casino sites. He also shared his opinions about the industry and suggested ways to increase safety. Below are Ecclestone’s responses to questions sent to him via Linkedin.
Bitcoin.com News (BCN), Crypto casino popularity seems to be increasing. Your view: What are the possible reasons?
Keane Ecclestone (KE): We believe the main reasons behind the rising popularity are threefold — privacy, security & growing interest in the crypto market. Players prefer having greater anonymity, along with a large number of people owning crypto — thus driving demand.
BCN: Crypto casinos are not as popular or seen to be more risky than other online casino sites. Are you a crypto casino risk-taker?
KE: Not necessarily, so long as players are cautious about the casinos they use — depositing/withdrawing with cryptocurrency in fact can be safer as you’re not entering card information on a (potentially) malicious traditional casino site.
BCN: How did you get the idea to create a rating platform for crypto gambling sites, and what kind of impacts do you see this having on the sector?
KE:To return to my previous question, I believe there are some sites casino players should stay away from. With the review platform, we made it our goal to give customers accurate and complete information on each cryptocurrency casino. This will allow them to stay safe while also helping them find the right site for them.
BCN: What, based on your experiences, would you consider to be the characteristics of a genuine crypto-casino?
KE:Legitimate crypto casinos usually provide licensing information, which is typically Curacao and Malta. They also have positive reviews. Another way to be sure is longevity — if it’s been around for a while, it’s likely to be legit. Or players can visit casinoscrypto.com where we’ve done the hard work for them.
BCN: Anonymous Gambling is one reason why crypto-casinos are becoming more popular. Which type of non-KYC gambling do you see as having both the potential benefits and the downsides?
KE:Some people view the disclosure of personal information as an invasion on privacy. Others would prefer to have the ability to play at their own discretion, whenever and wherever they want. Although this poses greater risks from a compliance perspective, most casinos have developed systems that detect suspicious behavior, and KYC only those suspected to be malicious.
BCN: Now let’s talk about regulation. You may know that many online gambling venues are regulated. This is often to guard players against some practices. Some casinos may use deceptive techniques, such as playing rigged Roulette. A regulated casino operator caught engaging in such a practice will lose their license. Since crypto casino are not regulated, how can an operator be caught cheating? Are there any organizations or bodies that players can contact to report such a situation?
KE: Great question. One of the many benefits of blockchain is that a lot of these crypto casinos are provably fair — meaning it would be impossible to rig since the game is hosted on a blockchain for all to see. Granted, this isn’t every site, but the majority implement fair practices or use big game providers so the risk in our opinion is minimal, and therefore the need for regulators is smaller than that of traditional online casinos.
BCN: Although the industry is expanding, there are still areas for improvement. Your view: What can be done more to ensure that crypto casino are safe?
KE: There’s always room for improvement. To ensure greater safety, I would recommend crypto casinos provide secure cold storage for players’ crypto as well as allow for instantaneous demand-side withdrawals like the majority of crypto exchanges. This helps players know they’re always in control of their money.
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