Table of Contents
Cryptocurrencies such as Bitcoin have become a popular asset class for investors. But, they're quite volatile, which means that they can be a bit risky as an investment. More recently, a discussion has sprung up about investments in Bitcoin casinos. As with all investments, there are a number of pros and cons to this.
So, in this article, we're going to take a look at what could make this a strong new investment choice in the US.
The Rise of Gambling
With the repeal of the PASPA in 2019, each state is now individually able to legalize and implement gambling in all forms, both online and off. One result of this has been a rise in online casinos, and this includes cryptocurrency betting sites.
Due to there being more gambling sites, betting is now a very lucrative business. And as more and more of these casinos move to accept Bitcoin, the investment possibilities are only growing.
Become a banker
Instead of gambling at a Bitcoin casino US you can instead be on the opposite side of the interaction. Investing in Bitcoin is already a bit of a gamble as it is so volatile. But, by investing in the Bitcoin casino rather than being the gambler spending their crypto, you have a better chance of success.
Of course, you still need to take a look at the Bitcoin casino you intend to invest in and make careful choices. For instance, it's important to check the risk that is involved with the specific casino. Make sure you've looked at the success of the casino and whether you can pull out of an investment if the casino goes under. Finally, you need to decide how much you can actually afford to invest.
Look at Potential Returns
Usually, if you're going to start investing in Bitcoin casinos, you don't want to put all your eggs in one basket. This means you will have funds spread across multiple casinos. To determine how much you could get as a return, take a look at the expected value (EV). To do this, look at the number of bitcoins wagered against the casino, then multiply this by the casino's house edge.
Typically, you can expect to make a 1% return over short periods, more over the longer term. Of course, this will also depend on how many people have invested. The more investors, the smaller your final share.
Finding the Right Bitcoin Casino
Once you decide to invest, you need to find a good Bitcoin casino. There are already a number of different top sites available, with many investors putting their money on Bitcoincasino.us. It's got strong numbers already with a high EV.
However, you want to get into the market early. Too many investors will already impact your returns. But, make sure you're investing in a reputable site otherwise you may find players don't go there and your returns will be minimal. As with all investments, there is always a risk, so go in prepared with all this in mind.
