What Trump’s Win Means: Clear Skies Ahead for Crypto and Casinos?

The United States government position on cryptocurrency has long been negative. While the industry has tried to grow, innovate, and thrive, they’ve had to do so in spite of the government putting a stick in the spokes. That all changed on a dime when Donald Trump was elected the 47^th President. He hasn’t even been sworn in yet (for the second time), but you can already see the impact it’s had on cryptocurrency.

What are we to expect from Trump as it relates to crypto and online crypto casinos? Let’s take a closer look and predict what’s likely to happen.

The U.S. Government has long been either crypto-neutral or anti-crypto. Whether it’s the SEC case into Ripple, holding back the launches of ETFs, or placing strict regulations on exchanges, it’s been hard out there for crypto.

Well, all of that has now changed. SEC Chair Gary Gensler has long been an opponent, and now he’s announced he’s set to leave. Members of the new government have bandied about talk of a Bitcoin reserve (or repo). The exact words from Senator Cynthia Lummis were, “We are going to build a strategic Bitcoin reserve.”

The former head of Cantor Fitzgerald, who has invested billions into USDT (Tether), is now tapped to be Commerce Secretary. Don’t forget that Trump himself has a crypto portfolio. Online sleuths have shared it, and Ethereum is his biggest holding.

Can you see how the winds have changed? Cryptocurrency and politics used to be like water and oil. Now, they’re more like peanut butter and jelly.

Although crypto isn’t fully in the mainstream, it definitely has been present in the sports betting and casino industry. They’ve long been friendly to the digital version of money because it’s a fantastic option for deposits and withdrawals. It’s fast, secure, and the fees are lower for both operators and customers.

What this means for the future of crypto in the gaming industry is that we’re likely going to see more adoption and innovation.

1. Adoption

In terms of adoption, you can expect more casinos and sportsbooks to offer cryptocurrency banking options. That means that it’ll be easier to deposit and withdraw, and you’ll probably have more options to play in the cryptocurrency that you choose. Crypto adoption in Canada continues to grow, and now that the United States has given it the green checkmark, Canada will likely follow the lead.

2. Better onramps

Right now, it’s still a bit of a learning curve to open an account on a crypto exchange, acquire crypto, then send. Expect the onramps to be easier from here on out. For example, maybe your bank will offer cryptocurrency, or maybe your credit card will have a crypto purchase option.

3. Innovation

Casinos will start to invest more in this space (and blockchain) to see how they can innovate using the new tech. Previously, some shied away from this tech because it was viewed negatively.

4. Improved security

Crypto can still be a bit of the Wild Wild West. As more mainstream players adopt it, expect more styles of “insurance” to come into play. That might mean actual insurance (in case of loss) or maybe just layers of security and fail safes to make sure transactions have some protection in case something goes wrong. All of that is good news for safe crypto gambling.

There’s no denying that Trump’s impact on cryptocurrency is going to be significant. The digital currency has already gone from being treated like an unwanted uncle to a welcome member of the family.

As for using crypto itself, for now, it’s ideal for deposits and withdrawals, but maybe not much beyond that. We don’t recommend gambling with crypto just yet.

Editor’s note: