Las Vegas, Atlantic City, Sands Casino, to name a few naturally come to mind when you think of a traditional or a land-based casino. And, when you consider the crowd that frequents the casinos, it is the folks looking for recreational getaways or the ones preferring the party or social scene.
However, with the impending coronavirus outbreak and the COVID-19 pandemic that has called for social distancing, the online casinos are quickly gaining prominence. Needless to say, the online or live casinos have their own fan following and players where the numbers far exceed that of the land-based casinos.
Although both the versions revolve around gambling, they differ greatly from one another with their own set of advantages and demerits.
All about traditional casinos
Although there are accounts of the gambling games existing since time immemorial, the first official casino originated in Venice sometime in the 17th century. Over the years, the traditional casinos have far evolved from being associated with the rich and the privileged. Today, they are the hubs of entertainment and games, making it an ideal hotspot for socializing.
Whether it is the allure of the slots machines or the thrill of the roulette, traditional casinos offer a glitzy interlude. While this may be true, these casinos have a standard visitor base. And, to increase the number of the player base, the popular casinos came up with their online alternatives. This paved the way for the rise of online casinos.
The rise of online casinos
Online casinos were introduced sometime in the year 1997. Since then, the internet has been gradually saturated with them. Also known as the live casinos, an online casino enables players to gamble online and play the many popular casino games like slots, poker, and other dice games.
And, initially, while these online casinos were not trusted by many, they have now come a long way, providing a safe and secure gaming experience to players. They not only have the classic casino games but also have innovative and novel games that have attracted heavy traffic. Thus, one can say that the player base of online casinos far exceeds that of the traditional casinos.
How online casinos are gaining ground
Online casinos have gradually taken over other ventures like sportsbooks and esports or virtual sports. Rather than opting for third-party sports books, people now prefer to place bets at online casinos.
The live casinos use RNG algorithms while their games are provably fair, making them safe for players. Apart from the many games, there are other advantages of an online casino that cannot be found in traditional casinos.
Advantages of online casinos over land-based casinos
Thousands of games are a plus where an online casino is considered alongside special features like sports betting and esports. While these are a given, the online casinos are also highly regulated by the gambling laws making them quite legal as per the respective jurisdictions.
While traditional casinos sometimes offer free food and beverages, online casinos have loyalty rewards and other bonuses. The welcome package or the deposit bonuses, for instance, are an added advantage that you can never find at the land-based casinos.
Blockchain technology and cryptocurrency
To gain that additional edge, online casinos are now integrating blockchain technology for its operations. Meaning, right from the transactions to the basic operations, everything is noted in the blockchains.
While the blockchain system brings in the elements of transparency and additional security, they also enable smart contracts that make transacting in online casinos faster.
Online casinos also offer the advantage of using cryptocurrencies as one of the payment options. Based on this concept, you have the Bitcoin casinos and hybrid casinos online. While Bitcoin casinos or crypto casinos enable the use of Bitcoins or other cryptos, the hybrid also has the option of FIAT currency transactions.
What’s the future of online casinos?
Online casinos are ever-evolving and for better. With the impending COVID-19 pandemic that has shut all the traditional casinos, the visitors with a penchant for gambling are now resorting to the online casino.
That being said, the future of the online casino industry is quite bright, with increased traffic. With many licensed and registered casinos saturating the internet, there are plenty of perks to choose from.
While traditional casinos have their own appeal, the current scenario has popularised online casinos. In fact, the latter is a far convenient and economical alternative to the land-based casinos. Moreover, the present social distancing need makes online casinos a better option.