Research Reveals BTC and Crypto Growth Potential Through Online Gambling
As new research reveals, the online gambling industries growth has shown to be significantly advancing given the cryptocurrency effect. In an official statement, the researchers behind the study stated that the international online gambling industry is expected to show at 10.5 percent growth by 2022.
The official statement explained that Bitcoin’s introduction into the gambling market is a growing trend. As it allows p2p payments online and provided BTC’s consistent growth, several online gambling platforms are introducing the leading cryptocurrency as a valid method of gaming and wagering as per its unique advantages over traditional currencies.
As research suggests, the gambling industry is a significant contributor to the market and provides exceptional growth within the relative economy of its native country. Last year, gambling was responsible for almost one percent of the US gross domestic product growth. As an addition, lotteries have created several job opportunities.
The study has also revealed the incredible number of risks associated with the gambling industry. As it states, despite significant earnings, the risks involved are continuously turning away more industries involved and restricting the development and growth of online gambling. ThirtyK also published its own paper, explaining that lotteries could be the catalyst for significant cryptocurrency adoption granted the alluring number of prizes and bonuses.
Nick Almond from CryptoMillionsLotto also said that in order for cryptocurrencies to truly be accepted and adopted worldwide, more use cases must be presented. On the other hand, malicious users are also taking advantage of digital currencies to conduct digital crimes. Earlier in July, many individuals were arrested in China following a crackdown on an illegal gambling website taking wagers and placing bets on soccer games.