Bitstars entered the online Bitcoin gambling scene this year, but since then, significant changes have already taken place within the casino and the gambling industry. Nikolica Vadaski, Head of Casino Operations of Bitstars, shared with Bitcoin Gambling Guide his perception of the current Bitcoin gambling market and how his casino is impacting this growing industry.
With Bitstars already in full swing, what is your general assessment of Bitcoin casino and gambling market these days?
The Bitcoin casino market is currently very small compared to the older and more established online casinos accepting fiat currency. It is currently a growing vertical inside the gaming industry and its success and growth is and will be closely related to the mainstream adoption of Bitcoin in the next months and years to come. Also, many gambling jurisdictions need to catch up with the Bitcoin phenomenon, as well as some bigger casino games providers.
As such, how has Bitcoin changed the online casino and gambling industry?
Bitcoin casino players love the fact that they can now quickly and securely deposit and withdraw funds anytime they want to, since all transactions are instant and do not involve fees. Also, Bitcoin gaming companies can afford to respect the privacy of their player’s identities and request minimum information due to the lack of regulation and the decentralized nature of Bitcoin. Moreover, micro betting allows bets smaller than $ 0.001. Bitstars, for example, accepts wagers as low as 0.000001 BTC, which is worth around $ 0.0006—an incredibly low amount that enables anybody to have fun playing games no matter how deep their pockets are.
Bitstars has provably fair games. What is your take on its relevance in the Bitcoin gambling market?
The concept of provably fair gaming is another invention that has been well received among the Bitcoin gambling industry, mainly as a seal of trust for the Bitcoin operator. This is something that traditional online casinos do not offer as they have always relied on third parties to certify their random number generator and the gaming license given by some of the gaming jurisdictions. The Bitcoin gaming community loves provably fair games as they are much more transparent. It is worth noting that not every player will care about the provability concept, but nevertheless, it’s a very nice addition and a stamp of trust for any casino.
What are the challenges you face by operating this business and brand?
We see that many people do not understand Bitcoin: how it works, how to use it or what benefits it offers. The second challenge is how to enable our customers to obtain Bitcoins fasters and easier, without needing to go through the long and timely process of buying Bitcoin at Bitcoin exchanges. We hope to have a very simple and easy solution in the future where players will be able to obtain bitcoins in seconds by playing with credit cards. We have already done a few tests in the last month, but we are still not happy with the solution, so we have taken it back into development.
With new payment methods in development, what else do you have in store for the existing and potential customers of Bitstars?
This year will be very exciting for us, as we will be adding a full live casino and many new slot games to the site. We will also be introducing loads of new promotions for our Stars, so that playing at Bitstars will become even more fun and rewarding. We aren’t happy to simply rest on our laurels. We’re always striving to find new and exciting ways to raise the bar in the Bitcoin iGaming industry and won’t rest until every single one of our players is happy.
Any last thoughts about the impact of cryptocurrency on your business and in our lives in general?
Cryptocurrencies will revolutionize the financial and many other industries from the way we know them today. We are strong believers in the future of Bitcoin and crypto-currencies and are very excited about the huge potential of the Bitcoin gambling market in the near future.