Login Casino Interview with Ivan Kondilenko: " Cryptocurrency in online gambling"

27 october 2017

The CEEGC 2017 conference was recently held in Budapest, where you delivered a presentation on the digital currencies efficiency in online gambling industry. Could you, please, tell us about the key points of your report?

In fact, there was only one key point and this is a comprehensive development of cryptocurrency usage in the online gambling. Within all of my speeches on the subject of bitcoin, I always emphasize that the total percentage of cryptocurrency transactions in the casinos is remarkably growing. And even a recent situation in China does not influenced the bitcoin's popularity among main audience of players. If providers of fiat money do not shortly offer an alternative to today's benefits of, for example, Bitcoin, then, sooner or later, the major part of the casino deposit players will start to use cryptocurrency. It is only a matter of time.

Do you think cryptocurrency usage in online gambling is rather a temporary trend that will decline, or a trend with long-term development prospects?

Once again, cryptocurrencies, for the most part, have a number of significant advantages for players. What do the players need in financial terms? Instant deposits and withdrawals, no fee commissions, maximum anonymity and usability. In this case, cryptocurrencies maximally meet the players' needs. In addition, operators also benefit by using the crypto money in their projects. If the fiat market is not changed in the near future, is not transformed according to the new requirements of time, it is clear that cryptocurrency in online gambling is a trend with a long-term development perspective.

In August, CASEXE launched a bitcoin casino - DarkNet. Please, outline this project in more detail. What is the difference between DarkNet and other bitcoin casinos?

It is more a question to operator, as it is responsible for positioning and working with his brand. On the technical side, the casino is first of all has benefit of being fully operated on the CASEXE platform, which allows the project to evolve in accordance with customer wishes. In relation to other kinds of differences, I know that the "trick" of DarkNet Casino is a guarantee of maximum anonymity for all of its players, as well as instant payments to winners.

Can you draw any conclusions about the first month of its work? How do you estimate the prospects of DarkNet?

This question would be better to address to the operator directly. Today, we are actively working on the internal optimization of the website, working with content, filling in the resource with all the necessary information. Games and processing are already available, so everyone can play DarkNet Casino. I cannot estimate prospects of this project today, as we need a while to observe how it goes.

No doubt, Bitcoin casinos are becoming increasingly popular. Do you think it will be possible for online casinos based on other less-known cryptocurrencies seriously compete with bitcoin casinos?

Frankly, it is not possible for now. So far, in our business, bitcoin-transactions stands over 90 percent of all the crypto-transactions committed by players. That is why I don't consider other cryptocurrencies as serious competitors to bitcoin at the moment. We are closely following the development of Ethereum.

In recent months, the course of bitcoin has experienced some sharp fluctuations. How do they affect the work of bitcoin casinos?

I would like to outline that these fluctuations are clearly beneficial to the owners of bitcoins, because in recent months, the course has shown rapid growth and it will continue to rise in the near future. This does not directly affect the work of the bitcoin casinos. This is more likely to impact the material well-being of those bitcoin owners, as well as its popularity growth. And we believe that this will be a strong incentive to increase the number of players on bitcoins. Therefore, as the course grows, the bitcoin-casino operators are in black.

Does CASEXE plan to work on other projects related to cryptocurrencies?

Yes, we do, and not just to cryptocurrencies. We have a number of innovative developments for the online gambling, but it is too early to announce them. Follow the CASEXE updates and in 2018, we are going to pleasantly surprise you. 


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Author: Matt Grant
iGaming business expert
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