The European Gaming Congress 2024 concluded with resounding success, attracting nearly 200 participants who benefitted from premier learning and networking opportunities. In this exclusive interview, we are thrilled to host Michał Ftouni, Head of Sales at zondacrypto – our Selfie Mirror Sponsor – and a key voice on blockchain’s transformative impact in iGaming.

Given your extensive experience in fintech and payments, what key developments do you see as the most transformative for the iGaming industry when it comes to blockchain technology?

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I would say that making use of the inherent nature of the blockchain, meaning the transparency, immutability and security of it, is the most disruptive and transformative development for the iGaming industry. Players are able to confirm that the outcome of games is fair and make sure they are not being tampered with. Their payments are also safe, quick and cheap, something that is highly sought after by players. Of course, one has to mention also the effect DeFi and web3 has had on iGaming, by adding great features like staking and yield farming which brings a whole new dimension to user engagement. As for merchants, blockchain technology reduces operational costs by cutting out intermediaries, enabling instant settlements, lowering transaction fees. The biggest advantage in my opinion is the adherence to compliance and regulation since everything on the blockchain is transparent and traceable. Every transaction is securely recorded and easily auditable. Last but not least, we have to talk about chargebacks and fraud. These are the biggest pain for merchants when it comes to payments, and blockchain technology completely eliminates these risks.

During the panel discussion on ‘Chain Reaction: Securing and Disrupting iGaming with Blockchain Innovations,’ you shared some compelling insights on how blockchain is transforming the industry. Could you expand on the unique perspectives you brought to the panel and how your experience at zondacrypto has influenced your views on blockchain’s role in iGaming?

At zondacrypto, we see blockchain as so much more than just a tool for payments. We see it as a foundation for reshaping the entire gaming experience. It’s not just a buzzword but a foundational technology for addressing key challenges in iGaming, such as trust, security, and efficiency. My insights are rooted in real-world applications we’ve implemented at zondacrypto, particularly through our zondacrypto pay gateway. For example, our payment solution uses blockchain technology to streamline payments and cross-border transactions, reduce costs, and ensure transparency in the payment flow. All are critical elements for operators catering to a global audience.

Additionally, my experience has taught me that blockchain’s potential extends beyond payments for iGaming. A key role is in enhancing trust through permanent and unchangeable records and smart contracts that automate processes like custom wagering limits, automated payouts or unique bonus structures. This means that iGaming companies can improve efficiency and build strong trust among their clients. Throughout the years, I’ve seen firsthand how blockchain can elevate player engagement and operational integrity. This leads me to believe that Blockchain Innovations are a game-changer for the industry.

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Blockchain is often praised for its potential to enhance transparency and trust in various industries. What specific blockchain features do you believe are most beneficial for iGaming platforms, particularly in the areas of security and data management?

For iGaming platforms, the most valuable aspects of blockchain are decentralization, immutability, and its built-in cryptographic security. Decentralization eliminates the reliance on a single authority, which helps ensure that game outcomes are fair and tamper-proof. Immutability is crucial because it guarantees that once data, such as bets or transaction histories, is recorded, it can’t be altered—this builds a strong sense of trust with both players and operators. Lastly, the security provided by blockchain technology protects sensitive data like personal information and payment details, which significantly reduces the risk of breaches and fraud. These features make blockchain an ideal solution for addressing the unique challenges of the iGaming industry.

Since joining the cryptocurrency space in 2017, you’ve seen significant changes in the industry. How has the perception of blockchain evolved among iGaming stakeholders, and what misconceptions still persist?

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Back then, there was a lot of skepticism around blockchain, particularly in the iGaming sector. Blockchain was often seen as a niche concept, mostly associated with speculation and volatility. Over time, iGaming stakeholders have become more aware of its practical benefits, especially in areas like transparency, security, and faster payments. However, some misconceptions persist. One common one is that implementing blockchain is overly complex or requires a complete overhaul of existing systems, which isn’t true—there are many plug-and-play solutions now available. Another is the idea that blockchain automatically means anonymity and is therefore linked to illegal activities, overlooking the advancements in compliance, like KYC-enabled systems, that make it secure and regulatory-friendly for businesses.

zondacrypto offers a range of B2B services, including crypto payment processing and OTC services. Could you share some insights into how these services have impacted gaming platforms, and what trends you anticipate in the near future for crypto in iGaming?

Our B2B services, especially crypto payment processing, have made a significant difference for gaming platforms by speeding up transactions, lowering costs, and enabling operators to cater to players globally. For instance, quick settlements and reduced fees give operators a competitive edge, while OTC services are perfect for managing larger transactions, particularly for VIP players. Looking ahead, I expect stablecoins to gain more traction because they address concerns about crypto volatility while keeping the benefits of blockchain intact. Another big trend I see is the growing use of NFTs within games—not just as collectibles but as tools that enhance player engagement and create new revenue streams for operators.

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As zondacrypto expands its footprint across the EU, what challenges do you face in driving blockchain adoption, and how are you working to overcome them, particularly in the iGaming sector?

One of the biggest challenges we face is navigating the regulatory landscape, which varies significantly across EU countries. Some jurisdictions are very supportive of blockchain innovation, while others remain cautious or unclear about their policies. To address this, we actively engage with regulators, provide education, and advocate for clear, fair rules that balance innovation with compliance.

We must of course mention the upcoming implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation by December 2024 which marks a significant milestone for the crypto industry, as it will introduce a unified regulatory framework across all EU member states, providing much-needed clarity for businesses operating in the space. As zondacrypto was one of the first centralized exchanges to be fully MiCA-ready, it will allow us to streamline operations and scale more effectively across multiple markets.

Another challenge is convincing traditional gaming platforms to embrace blockchain. There’s often hesitation due to concerns about complexity or the resources needed for integration. To overcome this, we focus on demonstrating how blockchain simplifies operations, reduces costs, and enhances trust. Sharing real-world success stories and showing the long-term value of blockchain solutions have been effective strategies in driving adoption.

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Looking ahead, how do you envision blockchain continuing to disrupt and reshape the iGaming landscape over the next five years? Are there any upcoming innovations from zondacrypto that you’re particularly excited to share?

Over the next five years, I see blockchain becoming deeply embedded in the iGaming industry, not just for payments but across the entire gaming experience. We’ll likely see innovations like DAOs giving players a voice in decision-making, blockchain-based loyalty programs enhancing player retention, and NFTs creating new ways for players to own and trade in-game assets. These developments will make gaming more interactive and engaging while giving players more control.

We’re particularly excited about enhancing zondacrypto pay with a strong focus on MiCA compliance to align with the EU’s evolving regulatory framework. By integrating MiCA-compliant features, we aim to provide gaming operators with a secure, transparent, and fully regulated payment solution that meets the highest standards. This will not only ensure smooth, legally sound operations but also build trust with operators and players alike, solidifying blockchain’s role as a dependable foundation for iGaming transactions.

Michał Ftouni provided his valuable insights at the European Gaming Congress 2024 as a panelist at the discussion  “Chain Reaction: Securing and Disrupting iGaming with Blockchain Innovations”, and with his Keynote Presentation “Leveling up your payments with crypto”.

Bitblox, the pioneering online software provider behind an innovative new wave of Bitcoin-based titles, has partnered with popular crypto casino and sports betting platform, Betcoin.ag, to bring its innovative price prediction games to a wide new audience.

Known for its signature releases Up or Down? and Up or Down? Turbo – which challenge players to guess whether the price of Bitcoin will rise or fall in a 60 or 20-second window respectively – Bitblox provides a range of products that are both games of skill and games of chance, giving them a unique cross-market appeal that’s proven popular with sports bettors and casino players alike.

Boasting dynamic fixed odds that are tied to the real-time price of Bitcoin, Bitblox’s games aren’t dictated by RNG and therefore offer players a genuine chance of using their understanding of the crypto markets to turn a long-term profit. That said, they’re also highly accessible and require no prior knowledge of Bitcoin, meaning even crypto novices can enjoy their quick-fire betting rounds.

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Of course, with Betcoin.ag being one of the industry’s premier cryptocurrency-based online betting platforms, Up or Down? has already established itself as a staple part of the provider’s line-up and Bitblox will continue sharing titles with the site as and when they launch in 2024 and beyond.

As such, both parties are optimistic that the partnership will continue to be a fruitful one going forward – and Betcoin.ag players will also undoubtedly be looking forward to trying exciting upcoming releases such as 3 in a Row and BitSlap when they debut on the platform later this year.

Brandt Page, Chief Executive Officer at Bitblox, said: “We’re very happy to have partnered with BetCoin and have already witnessed a tremendous response to Up or Down? from their players. Over the coming months, we’re looking forward to releasing many more innovative new titles on their platform and hope this will continue to foster interest in the world of crypto-based betting.”

Jessica White, Public Relations Director at Betcoin.ag, said: “With Betcoin being one of the industry’s most popular crypto casino and sports betting sites, we were always going to be a good home for Bitblox content. We really love what the provider is doing with its crypto price prediction games and having seen Up or Down? perform so well, we’re already looking forward to their next release.”

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The Impact of Technology on the Modern Online Casino Industry: Innovations and Trends 2024

The global casino industry is undergoing a revolution driven by technology. From traditional brick-and-mortar establishments to the vast world of online casinos as https://lol-la.com/, the influence of technological advancements is transforming how people experience gambling. Modern innovations such as artificial intelligence (AI), blockchain, mobile gaming, and virtual reality (VR) are reshaping the landscape of the casino industry, offering new possibilities for both operators and players. This article explores the impact of these technologies on the modern casino industry, examining current trends and predicting what the future might hold.

The Rise of Online Casinos: Accessibility and Convenience

a. Online Casinos and Their Growth

One of the most significant transformations in the casino industry is the rapid rise of online casinos. In the past, gambling was predominantly associated with physical casinos located in glamorous cities such as Las Vegas, Macau, and Monte Carlo. However, the internet has democratized access to gambling, allowing players from around the world to participate in casino games from the comfort of their own homes.

The growth of online casinos has been driven by factors such as improved internet connectivity, user-friendly platforms, and a diverse range of games. In addition, online casinos offer various bonuses, promotions, and loyalty programs that attract players. Unlike traditional casinos, online platforms operate 24/7, providing accessibility and convenience to players regardless of time or location.

The global pandemic further accelerated the shift towards online gambling. With physical casinos temporarily closed, many players turned to online platforms for their entertainment, leading to a surge in online casino revenue. As a result, the online gambling industry has seen tremendous growth and shows no signs of slowing down.

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b. Mobile Gaming: The Power of On-the-Go Gambling

Mobile gaming is another trend reshaping the casino industry. With the widespread use of smartphones and tablets, players can now access their favorite casino games while on the move. Casino operators have developed dedicated mobile apps and optimized their websites for mobile play, ensuring seamless gaming experiences for users.

Mobile casinos offer players the convenience of gambling from virtually anywhere, allowing them to play during their daily commute, while waiting in line, or during breaks at work. The ease of access provided by mobile gaming has expanded the player base, attracting casual gamblers who may not have otherwise visited a physical casino.

Additionally, mobile technology has allowed casinos to introduce features like real-time notifications, geolocation-based offers, and personalized gaming experiences. These features create more tailored and interactive experiences, which further engage players and enhance their satisfaction.

The Role of Artificial Intelligence and Machine Learning

a. AI-Powered Personalization and Customer Experience

Artificial intelligence (AI) is one of the most disruptive technologies in the modern casino industry. AI allows operators to personalize the gaming experience for each player, delivering customized game recommendations, bonuses, and promotions based on individual preferences and playing patterns.

Through AI-driven data analysis, casinos can track player behavior, understand their preferences, and optimize the gaming environment to suit their interests. For instance, AI algorithms can recommend slot games that match a player’s betting history, suggest new table games, or provide personalized loyalty rewards.

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AI also improves customer service by enabling chatbots that offer real-time support to players. These AI-powered chatbots can handle routine inquiries, provide assistance with account issues, and even explain rules of different games, reducing wait times for players while enhancing the overall customer experience.

b. AI for Fraud Detection and Responsible Gambling

In addition to improving the player experience, AI is instrumental in detecting fraud and ensuring player safety. Online casinos handle massive amounts of data, including financial transactions and personal information, making them prime targets for cybercriminals. AI algorithms can identify suspicious activity, such as irregular betting patterns or unusual withdrawals, and alert operators to potential cases of fraud or money laundering.

AI is also used to promote responsible gambling. By monitoring player behavior, AI can detect signs of problem gambling, such as frequent large deposits or extended gaming sessions. When high-risk behavior is detected, the system can trigger interventions such as sending warnings to the player, limiting betting amounts, or temporarily suspending the account. This proactive approach helps protect players and ensure responsible gaming practices.

Blockchain and Cryptocurrencies: A New Era of Transparency

a. The Integration of Blockchain Technology

Blockchain technology is another game-changer in the casino industry. Known for its decentralized and transparent nature, blockchain provides enhanced security and fairness in online gambling. By utilizing blockchain, casinos can offer games that are provably fair, where every transaction and game outcome is recorded on a public ledger. This level of transparency builds trust with players, who can verify the fairness of the games themselves.

Smart contracts, which are self-executing contracts stored on the blockchain, also streamline payments and payouts. These contracts eliminate the need for third-party intermediaries, reducing transaction times and minimizing processing fees. Blockchain technology ensures that all financial transactions are secure, tamper-proof, and transparent.

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b. The Rise of Cryptocurrency Casinos

Cryptocurrency casinos, which accept digital currencies such as Bitcoin, Ethereum, and Litecoin, are gaining popularity due to the growing interest in cryptocurrencies. Players can deposit and withdraw funds in cryptocurrencies, offering them faster and more secure transactions compared to traditional banking methods.

Cryptocurrencies also provide a level of anonymity that appeals to players who value their privacy. In regions where gambling regulations are strict, cryptocurrencies offer a way for players to gamble online without the need for traditional banking channels.

In addition, many cryptocurrency casinos offer unique incentives, such as lower transaction fees, faster withdrawals, and exclusive bonuses for players who use digital currencies. As the adoption of cryptocurrencies continues to grow, their integration into the casino industry is expected to increase.

Virtual Reality and Augmented Reality: Immersive Casino Experiences

a. The Emergence of Virtual Reality (VR) Casinos

Virtual reality (VR) is taking online casinos to a new level by providing players with immersive, interactive experiences that rival physical casinos. VR casinos allow players to enter fully rendered 3D environments, where they can walk through virtual casinos, sit at poker tables, or interact with other players in real time.

In a VR casino, players can experience the sights and sounds of a real casino without leaving their homes. They can use hand controllers to place bets, spin roulette wheels, or pick up cards in blackjack. The social aspect is also enhanced, as players can communicate with each other through avatars, creating a more engaging and realistic gaming experience.

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Although VR technology is still in its early stages, it holds tremendous potential for the future of online casinos. As VR hardware becomes more affordable and accessible, more casinos are likely to adopt this technology, offering players a fully immersive gaming experience.

b. Augmented Reality (AR) in Casino Gaming

Augmented reality (AR) is another technology that is transforming the casino experience. Unlike VR, which creates entirely virtual environments, AR overlays digital elements onto the real world. In the context of casinos, AR can enhance traditional games by adding interactive and dynamic elements to the gameplay.

For example, AR glasses or smartphone apps can be used to create holographic dealers in live casino games or overlay special effects onto a physical poker table. AR technology can also be used in promotional events or interactive tours of casinos, making the overall gaming experience more engaging and entertaining.

The Future of Entertainment in the Casino Industry

The casino industry has always been at the forefront of innovation, constantly seeking new ways to entertain players and enhance their experience. As technology continues to evolve, the line between the physical and digital casino experience will blur further. The convergence of AI, blockchain, mobile gaming, VR, and AR is transforming how people gamble and interact with casino platforms.

a. Hybrid Casinos: Blending Physical and Digital

In the future, hybrid casinos that blend both physical and digital experiences are likely to emerge. These casinos will offer traditional gaming options like poker and roulette, while also incorporating VR, AR, and other digital technologies to create a seamless, interactive environment. Players will be able to move between physical tables and virtual worlds, choosing the level of immersion that suits their preferences.

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b. Esports Betting and Casino Integration

Esports betting is another emerging trend that is likely to play a significant role in the future of casinos. With the global esports market growing rapidly, many casinos are exploring ways to integrate esports betting and tournaments into their offerings. This integration could attract a new generation of players who are passionate about competitive gaming, further expanding the casino audience.

Conclusion

The impact of technology on the modern casino industry is profound, driving innovation and reshaping the way players engage with casino games. From the convenience of mobile gaming to the immersive worlds of VR and the transparency of blockchain, technological advancements are enhancing the player experience and creating new opportunities for operators.

As the casino industry continues to embrace new technologies, the future of gambling promises to be even more interactive, engaging, and personalized. Players can look forward to a future where entertainment, technology, and gaming converge, offering unprecedented levels of excitement and enjoyment in both online and physical casino environments.