Are cryptocurrencies creating more VIPs in the online casino industry?
Last updated: May 28, 2018
Last updated: May 28, 2018
Cryptocurrencies such as Bitcoin have been grabbing headlines all over the web as well as in real-world media circles. Among the many articles written about the rise of Bitcoin, and more recently Ethereum, are those that draw the correlation between seemingly overnight internet wealth and the unprecedented expansion of Bitcoin usage worldwide.
Bitcoin and other cryptocurrencies are seen as the saviour du jour by many pundits who have been following its (Bitcoin) rise since it first hit the net back in 2009. As more internet users around the world begin to invest in the ‘Bitcoin bubble’, so the value of this enigmatic cryptocurrency continues to rise.
The fame of Bitcoin has finally reached the shores of the online casino industry, initially dismissed by the web-based currency as nothing more than a fad, and have now begun to sit up and take notice. As a result of the undeniable popularity of Bitcoin, many online casinos have adopted it, in a bid to stay on trend and attract a newer and more internet-savvy crowd.
One of the most effective tactics that online casinos are employing to not only attract new players interested in using Bitcoin but also perhaps keep their current bunch happy is the offering of Bitcoin-related incentives, otherwise known as the Bitcoin VIP program.
VIP programs are not new to the online casino industry and, are in fact a vital tool in ensuring that players remain invested in them. This is perhaps the main reason why every VIP program out there is structured to encourage continued play and investment, to rise to the top of the VIP pile. Bitcoin VIP programs are therefore no different in this regard; the only thing that changes is the mode of currency employed in them.
Of course, every online casino that now offers Bitcoin as a valid payment option, along with an accompanying Bitcoin VIP program, gets to decide what their particular Bitcoin inspired package will look like. As food for thought, here are some of the main incentives that could be included in a typical Bitcoin VIP programme:
For all intents and purposes it would seem that the rise of Bitcoin and other leading cryptocurrencies have indeed given rise to all sorts of ‘knock-on benefits’. This also includes how smarter online casinos are going about attracting new blood while still keeping their existing share of the market happy. In short, there are certainly more VIP’s within the online gambling sector today than even five years ago, and this does have a great deal to do with just how intensively the rise of Bitcoin has affected the online world.