Over the years, we’ve seen the gambling scene around the world evolve immensely. We’ve gone from only being able to meet in person to having the option to do so online with tons of game selections and bonuses.
Another major development has been with the types of currencies we can use to place bets. In the past, fiat currencies like the US dollar or the British pound were the only options to set wagers.
Now, anyone from around the world can use cryptocurrency to bet on different games. Those in the UAE are fast taking advantage of this option, and part of the reason is the myriad of benefits it offers, some of which are as follows.
What Are the Key Benefits of Betting With Crypto in the UAE?
1. More Profit
It goes without saying that one of the reasons cryptocurrency has become so popular for betting on other activities is its profitability. Think of it this way, if you placed a bet, using the US dollar and won money, the buying power of the currency you have won is less likely to have changed in that time.
Cryptocurrency, on the other hand, is known for wild market fluctuations, which could mean that your money will be worth much more after you have won it. Many people prefer to bet with cryptocurrency because they can make more money doing so
As such, arab online casinos are much more incentivized to allow for cryptocurrency betting, and consumers, in turn, are more encouraged to use them. It’s worth noting that the crypto market is unpredictable and can go either way. As much as your token might increase in value, it might also see a decline, so this is worth keeping in mind.
2. More Privacy
Online privacy is a bigger concern for consumers these days, and cryptocurrency lends itself well to this use case. When you use a decentralized currency like Bitcoin or Ethereum, you can often place bets without having to reveal your identity.
Typically, using fiat currency, you have to do things like provide proof of address, government ID, and much more to sign up on a betting platform. If you choose to bet with cryptocurrency, you have the option to start placing bets without actually signing up, per se.
What you are doing, in this case, is simply connecting your crypto wallet to the platform and consenting to have your tokens deposited or withdrawn as needed. If you are especially conscious of your privacy, this is certainly an option you should go for.
3. Control Over Assets
One of the frustrations you might face when betting the traditional way is having your activities restricted. It’s not unheard of for banks to restrict how much you can deposit or withdraw at any given time or even freeze your account while your transactions are being reviewed.
There is no such concern when it comes to the crypto market, because it relies on decentralized technology. Simply put, when you are betting with cryptocurrency, nobody can restrict how much you wager, how often you wager, or where. If control is a major issue for you, cryptocurrency might just be the thing you need.
4. Low Cost Transactions
One of the pain points that online casino users often face is transaction fees. When you are depositing and withdrawing money, there is typically a fee involved, and sometimes, these can eat into your profits.
This is especially true with cross-border transactions. Luckily, there are several crypto tokens that are specifically created to allow for cheaper transactions. XRP, for example, has been known to send millions of dollars worth of crypto while charging only pennies in fees.
This means that anyone who is betting with cryptocurrency can keep more of their earnings to themselves, and so, this is something to consider. Of course, there’s a difference from one crypto and platform to another, so it’s important to do your research first.
5. Speed of Payments
After you’ve gone through the trouble of playing your casino games and hopefully won some money, you don’t want to wait days or hours for your funds to be paid out. But when you bet with fiat currency, you have to take that risk.
Sometimes, banks and other such platforms require a review process before confirming deposits, and this can be rather frustrating for you.
Using cryptocurrency, on the other hand, can save you this trouble. Many crypto tokens can complete transactions in record time, often at speeds you simply will not enjoy using a centralized financial system. So, consider this benefit if you are concerned about speed, and find out which tokens will benefit you the most.
Conclusion
The UAE is seeing an increase in online casino games, particularly those using cryptocurrency. And when we consider the benefits attached, it’s not hard to see why. Those who bet with cryptocurrency enjoy greater privacy, more control over their transactions, and faster transaction times.
And all this is done while they enjoy potentially more profits than they would have with fiat currency. With that in mind, it’s clear that betting online with crypto in the UAE is not going away anytime soon.
