Having been around for almost ten years, bitcoin is synonymous with all things cryptocurrency. Since then alternatives to bitcoin, such as Ethereum, Ripple and Litecoin, have been introduced to the list. It was only matter of time that online casinos would then want to offer cryptocurrency as legal tender in order to play with them. There are various methods in which a player can obtain these cryptocurrencies. One of which is via a casino faucet. Just as the name suggests, instead of a flow of water this faucet contains a flow of digital currency… on tap.
In a nutshell, a faucet is another way of mining. Using Ethereum as an example, an Ethereum faucet will dispense Ether. The process is straight forward. Go to a Ethereum faucet site, enter your Ethereum wallet address, complete a captcha, some sites may require you to perform a small task such as click on an ad, and then claim a random amount of Ether. The amounts offered might be small and after a claim is complete there will a period of time before you are able to claim again. Some overcome this ‘wait period’ by going to a different faucet and claiming there. The value of this Ether can fluctuate but it really is ‘money’ for nothing and who doesn’t want free Ethereum?
A Casino Faucet
A casino faucet pretty much functions in the same manner, only the faucets are located within the casino’s site and, instead of the cryptocurrency being transferred to your wallet, it is deposited directly into your player account. With the value of Ether rewarded varying each time it’s almost like a game itself.
Using a casino faucet is appealing to players as it provides them with a form of risk mitigation when trying out a casino for the first time. It is especially useful if you have not had any prior experience with digital currency as it grants you the freedom to find your way around relatively risk free. Another attractive feature of using a casino faucet is the anonymity this method provides as some casinos only need a wallet address and nothing more.
This low risk and the thought of getting something for free appeals to players. Online casinos thrive on traffic and lots of it. Players will always be attracted to something free; something where no deposit is required. More traffic always results in more people wanting to advertise there. So what can be seen as the instant gratification of free Ethereum is actually a clever way of generating yet more revenue with little effort.
But is anything ever really free? As previously mentioned, before you can claim your free Ethereum you could be ask to perform a little task. Clicking on an ad really is a way of paying for the free Ethereum the casino is giving away.
Having a casino faucet can really boost how much revenue a casino generates by allowing a casino to accept players from countries where online gambling is restricted or deemed altogether illegal. This is possible because cryptocurrency, technically speaking, is not real physical money. The US is a well-known country where it is illegal to accept money for gambling purposes and to place bets via a telecommunication wire. This includes the Internet. Therefore by using a casino faucet this opens up the casinos to larger audiences, such as the US.
Another benefit of a casino faucet is to be able to do away with conventional cash. Withdrawals using the latter could take up a few days to get authorized and it is not uncommon for casinos to have to deal with card fraud. There’s less chance of fraud using digital currencies and the biggest argument for a casino faucet to be present would be that the transactions are instantaneous. This sometimes permits the casino to even offer fee-less transactions which is another incentive to a player.
So the flip side of what appears the to the fun loving casino faucet giving out free Ethereum to players is actually turns out to also be a seriously lucrative revenue making machine for the casinos. Dare we say this is a win-win situation for both the players and the casino… Want earn Free Ethereum? CryptoGames, SmartRoulette, and Bitsler all have a faucet that gives you a way to earn risk-free Ethereum.