CashBet co-founder and CEO Dr Mike Reaves is targeting a new demographic in the world of igaming with CashBet’s crypto-ready platform.
In an interview with InnovateChange Reaves highlighted the various areas in igaming that could benefit from crypto technology. He emphasized the need for improvement in content delivery within the crypto casino world, stating that CashBet can provide a superior implementation with a single B2B integration, offering around 50 games compared to the current three to five games in crypto casinos.
Reaves also addressed the issue of high transaction costs, particularly in banking services. With the use of cryptocurrency, middle-men along the banking supply chain can be eliminated, resulting in lower transaction costs.
Furthermore, having a crypto enabled platform could enhance withdrawal speed, player trust, accessibility for a broader range of players, and mitigate charge-back fraud, which currently accounts for 1-2% of payment volume in the industry.
Crypto technology is seen as a solution to reach players in under-banked markets, expanding the potential customer base for CashBet.
Reaves described igaming and crypto/blockchain technology as a natural fit, stating that the combination has the potential to improve VIP programs, expand the range of casino offerings, and enhance the overall player experience.
