Bitcoin was initially created as a replacement for fiat money, in defiance of the centralized banking institutions and bad government policies that end up burdening the average population. While Bitcoin is still in the process of gaining the status of mainstream currency, it has given birth to a lucrative cryptocurrency-based gambling industry. The current scenario is reflected in the latest purchase of the domain name “Bitcoin.Casino”.
Casino Holding Inc., a Florida-based company, has recently paid a small fortune to acquire the domain name “Bitcoin.Casino”. According to reports, the company purchased the domain from Sedo, a leading domain name and website marketplace for a sum of $26,000. Even though the price is not as high as what few gambling and casino related domain names have garnered in the past, it is still the highest anyone has spent on a “.casino” top level domain.
The costliest casino related domain name bought so far is perhaps “Casino.com” which was sold in 2003 for $5.5 million. Following it closely is “Gambling.com”, dictating a price of $2.5 million in 2011. The competition in the cryptocurrency gambling sector is heating up. Thanks to the universal nature of cryptocurrencies, anyone can sign up (or not) and place Bitcoin bets on any leading cryptocurrency casino platforms, irrespective of their location.
The availability of VPN services adds to the convenience, allowing even those from places with restrictions on gambling in place to access and wager their funds. Other advantages of cryptocurrency usage in gambling involve the speed of transactions. Players can fund their casino accounts in no time, and even spend it. If they win or hit the jackpot, they also get an option on many platforms to execute an instant withdrawal.
The privacy, security, and transparency offered by Bitcoin and few other cryptocurrencies encourage people to spend more on these platforms. The tendency of players to spend more with cryptocurrencies has inspired the online gambling sector to make their offering more attractive each passing day.
The domain “Bitcoin.Casino” will be instrumental in influencing the SEO ranking of the gaming platform which is likely to be hosted on it. It will allow easy access to the users and makes it more trustworthy, hence earning more profits for its owners.
The competition in the segment is only going to heat up, driving the price of these domains even higher.
Ref: Calvin Ayre | Image: NewsBTC