Simply put iGaming is having a bet on the outcome of an event or game online, and these activities include poker, sports betting, online casinos with the largest share of the market being taken up by sports betting and online casinos. Popular casino apps like Fruity King online slots are leading the way in virtual gaming and augmented reality is soon to be introduced in this industry.
IGaming hubs are dotted around the world with the most popular based in Gibraltar, the UK, and also Malta.
In 2018, the general thought is that Blockchain technology has the potential to trigger the next stage of evolution in the iGaming industry with Blockchain casino platforms increasing in popularity attributed mainly to its problem-solving capabilities.
When it comes to pay-outs, winnings and game outcomes Blockchain outperforms most other conventional online gambling platforms, and because of the lack of transparency across the existing iGaming industry customers don’t really know whether any one game is rigged in favor of the casino or not.
Of course, the majority of conventional platforms are legit and have strict rules and regulations they have to adhere to in order to keep their gaming licence, still, it’s appealing to have a system in which everything is totally transparent.
Once total transparency is achieved then there will be no reason for any gamer to restrict themselves in their chosen hobby.
Having a Blockchain platform can only be good news all round and we are seeing many gambling operators making the games accessible to new players by overcoming those conventional barriers which are associated with different fiat currencies.
By using cryptocurrency technology online gambling is modernised with the majority of the critical processes becoming automated, and as transparency will prevent that criminal element from exploiting and loopholes in the existing systems then existing and future customers will feel far more confident with the industry as a whole.
In fact, this September (27th) there will be a Blockchain and Bitcoin Conference taking place in Baku, Azerbaijan where for the first time an international conference will be dedicated to this subject, that being decentralized technologies in Baku.
It is expected to draw the most knowledgeable crypto gurus from all over the world as well as entrepreneurs and developers as well as various representatives of other payment systems. It is also expected that there will be foreign experts who will be attending to share their vision for future blockchain development in Azerbaijan, Europe and beyond.
Some of the keynote topics to be included in the conference are:
- Crypto market analysis, a review of the cutting-edge technologies and technical aspects of working with them
- Legislative regulation and prospects of the crypto business in Azerbaijan as well as globally, and ICO successful launch.