How Bitcoin Halving can boost your Crypto Casino wins?

It’s no secret that online gambling is one of the most popular pastimes for adults all over the world where it is legal to do so. With the use of crypto for online gambling also increasing in popularity, the phenomenon of Bitcoin halving has become a key event in this niche market. 

Here, we’ll take an in-depth look at crypto halving and how it can affect the online gambling sector and gambling strategies associated with it. From a definitive explanation of what halving is, to how you can adapt your strategy to make it work in your favour, we’ll cover it all right here. Keep reading to find out more.

Bitcoin halving is an event which comes around every four years. During a halving event, the reward for mining Bitcoin is split in half, this is where the event takes its name. It takes approximately four years for the blockchain network to open 210,000 additional blocks, which is why halving occurs four yearly. 

This time period, and the set amount of additional blocks, was dictated by the blockchain’s creators. The reason for this is to continuously reduce the rate at which the cryptocurrency can be introduced into the market, which ultimately helps to protect it from rapid spates of inflation. Something users of fiat currencies will be all too familiar with in recent years. 

It’s important to note that Bitcoin halving isn’t an isolated thing, other cryptocurrencies also have halving events that follow this same pattern. The most prominent of those is Litecoin and their next halving event is due to take place in June 2024.

There have been, of course, a few halving events that have already taken place since the introduction of the world’s most popular cryptocurrency back in 2008. At the time of its launch, the reward for mining was set at 50 bitcoins. The first halving event took place on November 28th 2012, at this point the reward for mining was halved to 25 bitcoins. 

Four years later, on July 9th 2016, the halving event further reduced the mining reward to 12.5 bitcoins, before the most recent halving on May 11th 2020 reduced the reward to 6.25 bitcoins. The next halving event is due to take place in April 2024 and this will reduce the mining reward to 3.125 bitcoins. 

Historically speaking, Bitcoin halving is usually followed by a steady uptick in the value of this popular cryptocurrency, referred to as a “bull run”, followed by an all-time high price. For instance, ahead of the first halving event back in 2012, Bitcoin was trading at approximately $12 in the lead up and within five months, its value skyrocketed to $229 by April 2013. By November 2013, Bitcoin had hit an all-time high of $1,132.

This was pretty much how the market had shifted for all of the halving events that followed in 2016 and 2020, but the 2024 event has bucked that trend. Interestingly, in the run up to the 2024 halving event, Bitcoin hit an all-time high. This now has many experts questioning the longer term effects of the 2024 halving. Will we see the usual post-halving bull run and yet another all-time high price? Only time will tell. 

What we do know from previous Bitcoin halving events is that it brings a level of volatility, so for those looking to trade, it may be worth observing the market early on and assessing the risks before making your trades. 

One of the fascinating things about these events is the effect that they have on the online gambling industry. Overall, Bitcoin halving can have an impact on the crypto casino transaction volume and the overall behaviour of online casino players who prefer to gamble online with cryptocurrencies. A potential positive of a halving event is that the price of the cryptocurrency increases which, in turn, can cause an increase in the volume of crypto gambling transactions online. 

A potential negative of halving in the gambling industry is the fact that transaction fees can actually fluctuate based on the value of the cryptocurrency. This is how a crypto casino protects itself from the volatility of Bitcoin and other major cryptocurrencies. So this is something that all players should consider if looking to get involved in crypto gaming like bitcoin blackjack and ethereum slots. However, a crypto halving event can mainly be seen as a good thing and it makes players more likely to jump online and try to win some crypto due to its increase in value. This can be a useful way to source additional Bitcoin as a fraction of the cost of trading or purchasing crypto on games such as poker. 

An increasing interest in crypto gambling will also inevitably provide casinos with an increase in revenue, which they can reinvest into their product to improve it. It also means that they can expand their offering, introducing more crypto-exclusive games for players to enjoy.

As with all forms of gambling, crypto gambling is a risk and one which is very closely tied with Bitcoin halving. So you should always do the relevant research to ensure that you fully understand what can go wrong and the potential ways in which you can lose money. Halving events are synonymous with months of proceeding volatility and this is definitely something you should consider if you’re wanting to get into gambling with a crypto casino.

If volatility leads to an increase in costs for a casino provider, you can be sure that those costs will be passed down to you as the consumer. So just be aware that, even if a casino is offering a great transaction rate on crypto payments at the time that you sign up, this can change rapidly in the lead up to, and after, a halving event. So be sure to keep your ear close to the ground in terms of news and announcements around cryptocurrency online.

You should always gamble and invest responsibly, ensuring that you only gamble with funds that you can afford to lose.

Overall, Bitcoin halving is something that can be strategically used by players to increase gambling winnings. If the market does what it has always done, players would be wise to try to build up their earnings now in anticipation for the coming bull run that is likely to happen in the following months and years after the halving event. The market is behaving in a new way though and bucking past trends, so players must tread carefully. Stay on the pulse when it comes to market updates and don’t get caught out by increasing transaction fees down the line. 

Above all else, ensure that you enjoy crypto gambling responsibly and do your research to be sure that you play with a reputable online crypto casino.