El Salvador’s Crypto Gambling Industry Booms after Bitcoin Decision


El Salvador

Following El Salvador’s decision to introduce Bitcoin as a form of legal tender, the country has experienced a huge boom in regard to its crypto gambling industry. For many, this decision simply helped just further highlight how crypto wagering already was in the country.

The activity had long been a highly popular pastime for many due to the benefits that are offered to punters when they use cryptocurrencies, including features such as improved privacy and security compared to the use of fiat currencies.

Unsurprisingly, the introduction of Bitcoin as legal tender made it a lot easier for El Salvadorians to get involved within the industry, whilst it also seems to be the very first part of a significant movement that the country is prepared to make in regard to the crypto gambling industry as a whole.

Introduction of Metaverse casino

Indeed, the government has been thinking of additional ways in the past to further embrace and adopt cryptocurrency and the blockchain technology that is used whilst making it more accessible to their citizens.

Of course, the spread of Bitcoin casinos is one thing that has been extremely successful, but it seems El Salvador is prepared to try and implement a way in which non-fungible tokens (NFTs) can be used. This would be via a metaverse casino.

The Latin American country has plans to launch the very first one and representatives of the country have already stated that the nation is working hard to launch a platform where guests will be able to buy and sell NFTs. Astro Babies is said to be the company that is working on this project, with the metaverse casino being named Astro Casino. The plans also reveal that there is an idea for a land-based casino, too.

Monica Taher, who is El Salvador’s Technology and Economy International Affairs Director, revealed that the country will be working with the company to launch the casino whilst announcing that the land-based establishment will feature a number of slot games and table games. Furthermore, she also highlighted that there would be special weekly poker tournaments held whilst there are other events currently being planned.

Moreover, there would be a gaming area, a lobby, a bar, a restaurant, a DJ, and a terrace as well as other amenities that can help to create a positive experience when visited. She also announced that the metaverse casino would be operating on the Solana blockchain.

El Salvador

Crypto gambling has always been popular in El Salvador

The move is hardly a surprise given just how popular crypto gambling has managed to become in El Salvador and, as mentioned, the introduction of Bitcoin as a legal tender has only helped this particular industry within the Latin American country to thrive.

Many gamblers who use a Bitcoin casino are able to enjoy a number of different benefits that have made these particular platforms incredibly favorable. The decentralized nature of virtual currency is one huge appeal, as players know that they have full control over their digital assets and that no one, such as financial institutions, can interfere with them.

Despite the decentralized nature, virtual currency still remains highly secure and provides users with a greater level of protection than fiat currency can provide. One of the ways in which it is securer is the fact that there is a degree of anonymity attached to each transaction, as users are no longer required to enter sensitive financial data when making a transaction, thus meaning there is a lower chance of being hacked and seeing those details stolen. Furthermore, the fact that less personal information is used is a huge advantage for many and perhaps a key driver.

To summarize, the crypto gambling industry within El Salvador was one that was already rather popular before Bitcoin was made legal tender however it has seemingly managed to boom further since the ruling. Nonetheless, the country has no plans to sit on its laurels and with the potential of a metaverse casino in the future, it is very likely that we will see the industry boom even more as time passes.

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Cryptosoft Trading Bot Review
June 27, 2022
The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Is The Crypto Market Combating A Lehman Brothers Moment?
Is The Crypto Market Combating A Lehman Brothers Moment?
June 30, 2022
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin19,089 0.95 % 0.92 % 11.32 %
Ethereum1,060.7 1.54 % 1.12 % 14.75 %
Tether1.002 0.02 % 0.06 % 0.14 %
USD Coin1.004 0.09 % 0.17 % 0.03 %
BNB217.91 0.42 % 0.66 % 9.17 %
Binance USD1.002 0.50 % 0.08 % 0.00 %
Cardano0.4487 1.22 % 0.22 % 9.95 %
XRP0.3130 1.02 % 0.45 % 14.79 %
Solana32.67 2.08 % 0.32 % 22.93 %
Dogecoin0.06617 1.34 % 1.08 % 3.49 %

Bitcoin (BTC) $ 19,114.90
Ethereum (ETH) $ 1,065.43
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 218.40
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.449189
XRP (XRP) $ 0.313808
Solana (SOL) $ 32.91
Dogecoin (DOGE) $ 0.066484