There could be good news for crypto platforms in the wake of the Coronavirus pandemic. After the World Series of Poker was cancelled due to the outbreak, there is talk that Bitcoin casinos could offer an alternative for Poker players. While fiat currencies are struggling amongst the current crisis, cryptocurrency is holding strong. This has created the belief that the crypto Poker rooms could grab some of the big-name players who are looking for a strong room to play at.
The strength of Bitcoin casino Poker rooms is that they don’t require an actual room to carry out the game. This means that Poker players will be able to login from anywhere and play. While this could sound like speculation, there is solid data to back up this theory.
In March the revenue that was created by online sportsbooks dropped by more than 20%. This was most likely due to the worldwide cancellation of major sports leagues. At the same time online Poker room usage increased by almost 125%. Both of these figures are in relation to the same time last year, rather than from the previous month.
Bitcoin Casino use Increasing
With the World Series of Poker put off until a later date, this should see a continued rise for April and May. This will give Bitcoin casinos a huge boost as they are currently a more attractive proposition for high stakes games. The ability of cryptocurrency to hold its value during times of worldwide crisis is one of the strongest factors for high stakes players.
This potential has a number of other factors that could come into play. If big stakes players do begin to use Bitcoin casinos for their Poker rooms it will have two main outcomes. The first is that it will increase the popularity of crypto casinos. If more players are using them, then word of mouth will spread and bring in even more customers.
This will, in turn, allow crypto casinos to expand server strength and increase the number of Poker rooms. It could eventually lead to crypto casinos becoming the main area for online Poker players.
The second main outcome is that it could increase the strength of cryptocurrency. With more players using it, it will bring it more into the public eye. Especially if it’s due to the postponement of the World Series of Poker. This could lead to another spike, which could be more sustainable this time. This would give cryptocurrency and Bitcoin casinos a huge lift as the world recovers from Coronavirus.
Possibly not Long Lasting
There are also people who believe that any benefits would be temporary. This is because once the world is back to normal, people would revert to their old habits. However, if people have tried Bitcoin casinos and feel that they are superior to their usual venues this is unlikely. Research shows that people are unlikely to return to an inferior product after trying a superior one. So, if people prefer what is on offer with crypto casinos, then there is a good chance the user spike could be a permanent one.
It will certainly benefit sites such as BetBTC, Cloudbet and FortuneJack because it will allow them to grow their customer base. This will ensure that they can compete with some of the bigger sites on the market. It’s essential as growing brands that they take advantage of a new influx of customers. This is where these Bitcoin casinos will be able to increase their market share and show off what they are capable of.
WSOP to Reschedule
It’s believed that the World Series of Poker will still go ahead. The organizers are pushing for it to still take place, but this all depends on how the pandemic plays out. While it’s unlikely the World Series of Poker will ever vanish, it could lose some players to playing online.
If online Poker rooms are able to take advantage of this, it could even see future events having a live stream alternative in case of similar problems in the future. This will give crypto casinos more leverage to act as the host. If they are able to show they can be a viable alternative now, then it could lead to further opportunities down the line.
There are already other hosts holding events online, so this is something that the World Series of Poker and Bitcoin casinos will want to get on top of as early as possible.