Crypto sweepstakes casinos are causing a major buzz in the iGaming world.
Over the last several years, they’ve skyrocketed to the top of the casino charts, with millions of players every month now searching for sweeps casinos that accept Bitcoin, Etherium, and other popular cryptos. However, some believe that this is nothing but a short-lived trend, while others point to the fact that the combination of sweepstakes and cryptocurrencies could be the future of gambling.
Alex Windsor of sweepstakes casino comparison site Sweepstake-Casinos.com, has commented on this:
“Sweepstakes casinos were already popular as it was. But now that so many of them have started accepting popular cryptocurrencies like Bitcoin, it’s allowed them to reach an even bigger audience. As things stand, this could be a huge sign of what’s to come in the future, as more people might start ditching traditional gambling for crypto gambling instead.”
Sweepstakes Casinos Accepting Crypto — A Trend That’s Here to Stay?
Crypto sweepstakes casinos are fast becoming one of the most popular types of online gambling outlets. It makes perfect sense. After all, sweepstakes casinos and cryptocurrencies are a match made in heaven.
You have sweepstakes casinos, which people have loved ever since the COVID-19 pandemic of 2020. Then you also have cryptocurrency, a type of virtual currency that gambling fans have enjoyed using ever since 2012’s SatoshiDice, the world’s first crypto-gambling site. So, it was only a matter of time before sweepstakes casinos and cryptocurrencies would eventually merge together — which they have.
The outcome has been special, as the internet is now home to plenty of mega-hit crypto sweepstakes casinos, such as Stakeand Sweeptastic. These outlets are leading the crypto gambling revolution, with player counts going up every single day as more crypto investors join to see what the hype is about.
However, not all sweepstakes casinos are crypto-friendly. The biggest sweep casino of them all, Chumba, has yet to start accepting cryptocurrencies. It’s believed that it’s only a matter of time before it does, though, especially when you consider the upward projection for cryptocurrencies.
Some awesome research from Softswiss revealed that crypto gambling has been on the rise for years, with 35.96% of bets placed in Q1 2022 being from cryptocurrencies like Bitcoin. And when you throw on top of this the fact that crypto ownership is up by 10% in the US, it’s clear that the trend of crypto gambling is only going to get bigger.
Another reason why crypto sweepstakes casinos are here to stay is because they are not classed as gambling sites. The reason for this is that sweep casinos don’t allow you to bet real money. Instead, what you do is exchange money (or crypto) in exchange for virtual coins, which can then be used to play the different casino games on offer. The virtual coins have no real-world value, hence why it’s technically not gambling.
How Do Crypto Sweepstakes Casinos Work?
In a crypto sweepstakes casino, the process works like this:
➡️ Create an account
➡️ Deposit your chosen crypto (e.g., Bitcoin) in exchange for Sweeps Coins
➡️ Place bets using your Sweeps Coins
Any Sweeps Coins you win from playing games like slots or roulette can then be redeemed for prizes. For example, prizes often include cash transfers, gift cards, and cryptocurrency bundles. As you would expect, most crypto players choose cryptocurrencies as their prize so that they can walk away with more crypto than they originally deposited.
Most Popular Crypto Sweepstakes Casinos
As mentioned earlier, crypto sweepstakes casinos are taking over the internet. If you want to use your cryptocurrencies to play casino games, there are plenty of options out there. Currently, the most popular options are:
⚡ Stake
⚡ Sweeptastic
⚡ Fortune Coins
The best part about this is that almost all of the crypto sweepstakes casinos you can find on the internet accept multiple cryptocurrencies — not just Bitcoin. For example, Sweeptasic accepts Ethereum, Litecoin, USD Coin, and plenty of cryptos, so no investor gets left out.
The Benefits of Crypto Sweepstakes Casinos
The main reason why people enjoy crypto sweepstakes casinos is because cryptocurrencies provide speedy transactions, extra privacy, and the ultimate level of control.
On top of this, the opportunity to win real prizes in a sweeps casino without having to bet any type of traditional money is also a lot of fun. Even if you only have a small amount of crypto sitting in your wallet, you could potentially use that to earn gift cards and other exciting prizes, so it’s an excellent concept.
Finally, there’s the ‘social’ element that sweepstakes casinos offer, allowing players to chat with each other, send friend requests, climb leaderboards, and more. In a way, it’s similar to the traditional “video game experience,” which is something you don’t get with regular online casinos.
Combine all of this together, and it’s easy to see why many believe that crypto sweepstakes casinos are the future. Provided that no new laws or regulations are introduced surrounding sweeps casinos, nothing can stop them from skyrocketing even further.
