Will Super Bowl Be the Cause of Crypto Casino Upswing?
The largest betting event of the year is finally happening, and gamblers of all types are preparing for the day. Whether for football-related slots or combination bets for the game, more Americans than ever are looking out for the best bitcoin casinos on the market. According to some market experts, the American people may be betting as much as 20 billion dollars in cryptocurrency alone for this year’s event.
A crypto casino is a type of online casino that allows players to deposit, play, and withdraw using cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Many users appreciate the increased security and anonymity provided by cryptocurrencies. Transactions made using crypto are typically processed much faster than traditional payment methods, and the decentralized nature of the blockchain makes it difficult for anyone to hack or manipulate the results of a bet. In addition, many crypto casinos offer lower fees and more favorable exchange rates compared to traditional online sportsbooks, making it easier and more cost-effective for players to place bets on the Super Bowl.
Crypto casinos can benefit from the already growing gambling market
In recent years, the growth of online sports betting has made it easier than ever for people to place wagers on the Super Bowl. In addition to traditional point spread and moneyline bets, there are now countless prop bets available, ranging from the outcome of the coin toss to the color of the Gatorade dumped on the winning coach. Similarly, cryptocurrencies have dawned on the world and have grown into one of the most discussed financial topics.
As both crypto companies and betting firms will make appearances in the renowned Super Bowl ads, the joint idea of crypto casinos does not seem like an idea too far away. That being said, it's important to note that the use of cryptocurrencies for gambling is not regulated or legal everywhere yet, so players should always be sure to check their local laws and regulations before using a crypto casino. Additionally, as with any type of online betting, it's important to choose a reputable and trustworthy crypto casino to ensure a fair and secure betting experience.
The largest gambling event of the year
Gambling on the Super Bowl, the championship game of the National Football League (NFL), has a long and storied history. While the exact origins of Super Bowl betting are unclear, it's likely that people have been wagering on the outcome of the game since it was first played in 1967. In the early years of the Super Bowl, betting was primarily done through illegal bookmakers or offshore sportsbooks. However, as attitudes towards gambling have relaxed and it has become more regulated and mainstream, the Super Bowl has become one of the most heavily bet-on sporting events in the world.
The trend seems to continue as 2023 is set to be yet another record-breaker. According to the American Gambling Association, 50,4 million, or 20%, of adult Americans plan to wager on this year’s Super Bowl. Not only are there more people who will be betting, but they will also bet more: the AMA predicts wagering amounts to rise to a mind-boggling 16 billion dollars, which is 60% more than last year. The division between wagering online versus physical wagering is almost equal.
Today, sports betting has become legalized in 36 states and Washington D.C., as a result of the repeal of anti-gambling law PASPA in 2018. For mobile gambling, the number of legal betting states rose from 18 to 26 in 2022 alone. In total, 33 states are operational in their gambling laws, although crypto casino alternatives are not as well integrated yet.