Bluffing On The Blockchain: How Poker Embraced Crypto
Believe it or not, there was a time when people in the industry thought the idea of online poker was a bridge too far. Nowadays, we’ve got so many different variations of poker that have emerged from innovations in the digital ecosystem, and this success now acts as a tool for those looking to meet up and play poker in real life.
It has transformed every single element of the game, and although those doubts lingered in the early days of online poker adoption, we have seen the exact blueprint play out in the world of the cryptocurrency market, too.
Today, we’re going to deep-dive into the rise of cryptocurrency and how the blockchain has transformed the way people play poker. It has already come on leaps and bounds since the start of this decade, and while not everyone has embraced crypto, there’s been more than enough adoption to get casino bosses and platforms sitting up and taking notice.
Combining Ideas & Themes
An introduction to any market is usually through a related market you understand, or through someone you trust, who shows you how it works and its dynamics. When it comes to poker, there are always variants and ideas that pop up, often with varying degrees of success.
Blockchain companies and crypto enthusiasts who have been trying to marry blockchain and poker since the early 2010s needed an inroad. They needed to show people that it wasn’t just a quirky new way to play; it offered advantages over fiat currencies and other conventional payment options.
Video poker is a version of the game that sits between the old, conventional market and the digital universe. It was the first type of poker to embrace technology, so it was no surprise that it was the first to adopt the blockchain and crypto, too.
Crypto video poker operates like any standard terminal you can find at a conventional site, with the key difference that you connect your crypto wallet and handle withdrawals and deposits directly with the site. No third party needed, no bank oversight, no unnecessary delays from your bank – just sign the transaction, and you’re good to go.
It’s important not to confuse crypto-enabled video poker with online multiplayer poker. Video poker is a single-player terminal-style game, so integrating cryptocurrency doesn’t change the gameplay itself—only the payment method. That’s why many platforms were able to enable crypto for video poker earlier than for other formats.
Transparency & Security
Security is a non-negotiable for any form of payment in casino gaming. If a payment method has issues, picks up a reputation as slow or unreliable, or is linked to a platform with security issues, these factors can have a debilitating impact on it as it looks to grow in the market.
Alongside security, the other key element of casino gaming is a strong understanding of the factors that underpin the market. Obviously, when it comes to crypto, you must understand how crypto works, the mechanics of the market, and why the blockchain is such an integral part in helping poker platforms and game designers explore new horizons.
Given that the blockchain is an immutable ledger of all transactions, with each withdrawal and deposit recorded in real time, this helps casinos and customers better track betting patterns. From a gambling harm perspective, the use of AI in the blockchain is becoming increasingly adept at detecting problem gambling patterns, notifying casinos, and providing customers with tools or links to help them stem their problem gambling.
Borderless Payment Solutions
There’s no shortage of payment options in video poker, but for many users, it’s all about finding those payment options that give them the least headache. Again, this isn’t rocket science. One of the main issues casinos face is that customers who feel they are not receiving their winnings promptly often take to social media to voice their disapproval.
Casinos need to respond professionally and courteously to this criticism, as rising to customers or biting back can be considered bad form and not a good look from a business standpoint.
Take a look at what people are saying on social media sites, check out the bad reviews, and come to your own conclusions before deciding on the crypto video poker site you most like the look of. Sometimes, the casino must undergo the necessary AML and KYC checks to ensure the safety of payments and their liquidity. However, some casinos take weeks to process withdrawals, and it’s those platforms that are best given a wide berth.
Given the peer-to-peer nature of crypto casino payments, they are not subject to international or conventional payment provider or bank fees, depending on the site, payment option, and your location.
Moving The Market Forward
Ultimately, cryptocurrency offers a new way for people to play video poker and provides an inroad into learning more about the mechanics of digital assets and the blockchain. When you combine transparency, direct payment mechanics, and a traditional financial system that has begun to embrace cryptocurrency, the future looks promising for poker platforms that have spent the last decade reshaping their business models to adapt to these seismic changes in fintech.
So long as the mass audience is there, and more poker players are intrigued and open to the idea of blockchain casino gaming, there’s no reason why crypto can’t become one of the most dominant niches in the casino gaming market.
