Crypto casino founder expects more regulation of industry

Further regulation of online crypto casinos is expected to be introduced in the near future, according to the founder of one of the sector’s leading sites.

According to Felix Römer, who is the founder of the online crypto gambling platform Gamdom, the future of crypto casinos is bright despite the upcoming changes that are on the cards.

In an interview with EsportsBets, he claimed a shift towards crypto casinos is already under way as a result of people losing trust in more traditional online betting operators in recent times.

“I am sure we will face many challenges in the future as the market is getting tougher and regulations will cause a lot of adapting and adjusting to the current requirements,” Romer said in the interview. “After all, it’s still quite a new technology.”

While some countries are embracing crypto casinos in a big way, the same cannot be said for Singapore. The south-east Asian city state has launched a new gambling regulator, the Gambling Regulatory Authority, with its general counsel Albert Yeo saying recently that there is no real appetite” to embrace cryptocurrency in Singapore.

Elsewhere, though, the crypto casino market is booming despite the downturn in some values. The Gamdom founder also pointed out that the crypto winter has affected mostly the American market and not as much in Europe, where his site is among the major players in its field.

Gamdom was founded in 2016 and has since brought in 10 million players worldwide, with brand ambassadors such as Usain Bolt – who won eight Olympic gold medals and is one of the greatest athletes of all time – having been signed up to help to promote the site.

“We saw the need for people to have access to their own spending and speedy transfers quite early,” Romer said when asked about Gamdom’s level of success in the crypto gambling sphere. “Crypto seemed like a niche way for people to be able to gamble and the demand was high which confirmed our estimation. Having the flexibility and ability to transfer money out of the casino and having it in your balance minutes later gives players a lot of confidence.”

While Gamdom started as a CS:GO gambling website, it now offers a large range of crypto casino games such as slots, while giveaways such as regular Rainbot drops hand out prizes to those who are active in the site’s busy chat channel.