What Traders Can Learn from the Growth of No-KYC Gambling Sites?
Successful trading means constantly learning, evolving, and looking for new opportunities and strategies. The betting market is fast-paced, evolves with the introduction of new technologies and changes in regulatory frameworks, and it attracts players from around the world.
In particular, no-KYC casinos have utilized technologies like blockchain, cryptocurrency, and AI to help drive profits and growth. They also show the value that people place on privacy and convenience, giving potential insight into future market movements.
No-KYC Casinos
No verification casinos are iGaming websites where players do not need to undergo the usual ID verification requirements of other traditional online casinos. This means, according to Esports Insider’s insights, that players never have to submit ID documents, offering greater privacy and a degree of anonymity.
According to online betting expert Viola D’Elia, players can register using nothing more than an email address and, thanks to their use of cryptocurrency, can enjoy instant deposits and withdrawals, in some cases.
Crypto’s Growth Continues
No-KYC casinos have been made possible by the emergence of cryptocurrency as a payment method. Compared to forex and stock markets, as well as other asset classes, cryptocurrency is still an emerging market. Bitcoin launched in 2009 and while it became popular with tech-savvy coders and miners within its first few years, it took until the mid-2010s before it really started to gain mainstream media attention.
Today, around 560 million people are believed to hold cryptocurrency, or just over 7.5% of the global population. And, a lot of these are likely to be long-term holders of small amounts of cryptocurrency, rather than regular users or traders. However, as the market continues to evolve and countries expand their regulatory frameworks, cryptocurrency continues to see improved market penetration.
Even if investors don’t want to hold cryptocurrency itself, most likely due to its high levels of volatility, they can consider investing in companies with high exposure to the cryptocurrency market.
Mining companies, cryptocurrency exchanges, and processor manufacturers are some of the obvious choices, and many companies in these sectors are public companies offering some kind of investment opportunity.
Privacy Matters
One of the reasons for no-KYC casinos’ popularity has been the increased privacy they offer to players. Most licensing authorities, including some of the biggest, require that their licensees collect personal information from players. This includes name and address details, and those details need to be verified by the site. This can cause delays in registrations, and individuals worry that their gambling habits are being tracked.
The rise in no-KYC casinos shows that players take their privacy seriously. While Bitcoin does offer greater privacy than traditional payment methods, there are other tradeable cryptocurrencies, privacy coins, that are even more secure.
Monero, Zcash, and Dash are some of the biggest privacy coins and, as well as being useful in iGaming, they can be used for other payments. They use techniques like ring signatures and stealth addresses to further obfuscate user details and the increase in popularity of no-KYC casinos is a good indication that these types of coins will continue to increase in popularity.
Gambling Remains A Popular Pastime
The casino market, including both online and offline casinos, is worth approximately $220 billion a year and this is expected to grow by more than 3% a year for the next five years. As people take their privacy more seriously and turn to no-KYC casinos as a result, this is one area where the gambling market will see further growth.
While some areas of gambling have shown signs of decline, the market as a whole remains robust. This provides an opportunity for traders to invest in gambling companies.
The likes of MGM, DraftKings, and Flutter Entertainment are publicly traded betting companies. Companies involved in gambling but that don’t necessarily offer gambling themselves include Aristocrat Leisure and Evolution Gaming.
Regulatory Changes Continue
No-KYC casinos operate in two globally regulated markets. The gambling market has existed for centuries, but while it is legal in a lot of countries, it is also prohibited and even illegal in a lot of others.
In recent years, we have seen changes in this regard. States across the US continue to discuss regulation, and we are seeing similar positions in other countries, including Canada and Australia. Even the UK, which has one of the most experienced and regulated markets, has seen the introduction of new regulations in the past few months. Traders can benefit from new markets opening up, especially if they back the companies that are likely to be involved in the new markets.
Cryptocurrency has also fallen under regulatory scrutiny across the world. Some securities commissions have scrambled to try and introduce new legislation, while others continue to rely on centuries-old regulations already in place. Countries and banks continue to investigate and research cryptocurrency markets, and so too do the casinos and other businesses that accept it. This level of research is important in trading, too.
Work Smarter, Not Harder
Many no-KYC casinos use blockchain for more than cryptocurrency transactions. Blockchain uses smart contracts, which automate transactions, and this is another way blockchain expedites payments.
Fast transactions and some automation are also important in trading because they enable traders to move in and out of positions quickly, ensuring they hit target prices and have the best chance of turning profits.
AI, another emerging trend, has also become popular with no-KYC casinos. It can be used to gather, analyse, and work with large volumes of data. Trading, like online gambling sites, relies on lots of data, and AI trading tools can prove very useful indeed.
Most traders already use price, volume, and RSI alerts, as well as charts and other tools to help identify trades and highlight entry and exit points. The implementation of AI is a viable option in the next step of the trading journey.
