With the current state of the world, more people are staying home for both work and school. My personal understanding of the events of the last few years have changed substantially, since I wrote about when we expect casinos to reopen. I don’t want to go on about COVID. We’re all sick of it. But if there is one positive thing to come from it, it’s that more people are spending time with family. And more people are learning you can work from home, and still get things done. Absolutely, every action has an equal and opposite reaction.
Speaking of predictions, here are my predictions for the future of online gambling:
Online Casinos Will Become More Prevalent
Clearly we can see this is already happening. When online casinos were still new, many states throughout the world strictly forbid online gambling. This is because they wanted gaming revenue to stay in their state, rather than gamblers send money overseas.
But gamblers played at online casinos regardless. So states that forbid online gambling were being left behind.
Gaming law is generally state law, rather than national law. With its many states, the US is an easy example. But every country has its own individual jurisdictions. Virginia offers trusted online casinos, and more states will follow.
However, there are some countries where gaming comes under national law, so states all share the same legislation.
Cryptocurrencies Will Become The Dominant Currencies
There’s no stopping it. Cryptocurrencies are a far fairer and overall better system than the current monetary structure of the world.
For one thing, private banking cartels can current create money from nothing. Then they loan this money out to you, with interest. This is impossible with a properly structured and fair cryptocurrency. As people come to understand cryptocurrencies, trust will grow, and so will adoption. I believe that will leave traditional fiat currencies in the dust.
But I’m not giving financial advice here. This is my opinion.
Governments Will Create Their Own Digital Currencies
They make no secret about it. Governments intend to create their own digital currencies, because they know they’ll have to compete with open source cryptocurrencies like bitcoin.
But it is important to understand that government digital currencies, and open source cryptocurrencies, are two very different things.
The world already has digital currencies. The vast majority of money exists on computers already. A relatively small amount of money in the world exists in paper or coin form.
The key difference between government issued digital currency, and crypto currencies, is that nobody controls genuine cryptocurrencies. This is because cryptocurrencies like Bitcoin are a network. It’s like saying nobody owns the Internet, so nobody has total control over the Internet.
Regulations Will Tighten
Think of regulations like rules. Rules are a good thing, because they ensure a safe environment. The only time rules are a bad thing is when they benefit only the few, rather than the many. If rules only benefited the few at the top, such as bankers, then you have a tyranny.
Bitcoin may be open and free, at least at face value. But a major problem is you can’t freely exchange it for any currency you want, without going through a centralized exchange. Crypto currency exchanges allow you to convert between different cryptocurrencies, or government fiat currencies such as the US dollar. So the cryptocurrencies changes are like the modern day banks. At first, they weren’t regulated at all. But now they are coming under heavy regulations.
Again I consider regulations a good thing, at least to a certain extent. I believe powerful influences, a.k.a. banks, will lobby for tighter regulations to protect their interests. And I believe the result will be more innovation, enabling everyday people to circumvent cryptocurrencies changes. For example, decentralized exchanges. Then money will be true peer-to-peer.
At this point, bitcoin still needs nodes to function. Theoretically, the administrators of the nodes could collude to manipulate the network. It’s very unlikely to happen, but the possibility still exists. I believe the future of crypto currency will not need any nodes, and will enable true peer-to-peer fund transfers.
An Independent Internet Structure Will Emerge
This is something I expect will occur, in light of censorship issues by some particularly oppressive regimes. We already know about the dark web. If you’ve never heard of it, basically it’s where all kinds of illegal items are sold, using encrypted connections that obscure the identity and location of sellers.
The dark web still uses existing Internet infrastructure. But hypothetically if global governments were to become tyrannical (more so), it would not be hard for them to shut down the existing Internet. And necessity is the mother of invention, which is why I believe an independent Internet structures will emerge.
The easiest way for this to occur is with wireless technology. But it won’t be the typical Wi-Fi or GSM signals we are accustomed to. I believe it is likely to be point-to-point data transmission, which is highly secure and private. One of the earliest examples of this is using lasers to point between transmitters and receivers. The signals cannot be intercepted, because any interruption would be noted between both receiver and transmitter.
But what does this mean for online gambling? Well firstly, any online casino that is operating legally would have no need to use any kind of dark web, or alternate Internet infrastructure. After all, governments receive taxation from regulated casinos.
My prediction may seem a bit unfeasible, considering our current technology. But keep in mind technology rapidly evolves. If you’ve been around for 20 or more years, ask yourself how quickly technology has evolved. You’ll understand the technology in another 10 or so years is likely to be very different. When it passes to a point where it’s easier to hide communications, that it is to detect them, then I expect we’ll see an emergence of Internet 2.0. Of course it is only likely to emerge in some regions.
This could be good or bad, and I expect many people to fall victim to scams. But this is no different to how the original Internet started. It is not possible for police and law enforcement to find and prosecute all scammers. They simply don’t have enough resources. So as it always has been, the onus is on every individual to be educated on how to avoid being scammed.
Ultimately if I’m right about the alternate Internet structure, it will mean thousands of illegal online casinos will emerge. And if that happens, I suggest not joining them. Freedom of association and free speech is one thing. But wagering money with an online casino is another.
Remember, regulation is only good if it exists for the benefit of the wider community. If the regulations exist only to benefit the few at the top, then its tyranny. But when it comes to casinos and online gambling, regulation is important and certainly favorable. What does this mean for you? If you plan to play online, choose only a properly regulated casino.
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