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Gaming Operators Take Notice of Bitcoin Trend

Companies / Gambling Oct 03, 2017 - 03:54 PM GMT

By: Steve_Marks

Companies Bitcoin and other cryptocurrencies are becoming more and more popular, probably thanks to more media coverage and the fact that these virtual currencies are rising in value. In actual fact, cryptocurrencies have been around since 2009 but they have remained an underground currency until just recently. With virtual currencies such as Bitcoin now getting a lot of media attention, it’s not surprising to see companies around the world looking at the pros and cons of accepting them as a payment method.

You can see why it can be beneficial to use cryptocurrencies such as Bitcoin, they are extremely secure after all, and that should always be the priority for all parties when entering into a financial transaction. With the way the process works, no personal details are ever shared and the payments and withdrawals are always instant. You can purchase Amazon vouchers, order takeaways, use Bitcoin as a payment method in some pubs and you can even now pay a deposit on a property rental agreement using the cryptocurrency too. With virtual currencies fast becoming a reality in mainstream life, one sector looking to take advantage is the online casino and gaming industry.

The use of cryptocurrencies as payment in online casino and gaming sites has huge benefits and its introduction could revolutionize the industry. Bitcoin casinos have actually been around since 2011 but with cryptocurrencies being underground at the time, the casinos remained in the shadows too. Now, it seems, that major players in the online gaming sector, like Unibet Casino, are taking a keen interest in how cryptocurrencies could benefit them going forward.

Two things are really important when it comes to online casinos and that is the safety of people’s details and money and also the fairness of the casino in terms of chances to win. The use of Bitcoin actually answers both questions. The way in which Bitcoin transactions are made, cryptography and the Bitcoin community have all seen online casino and gambling become a lot more safe for both the operators and players.

Bitcoin casinos are also safer for the players too. They can prove that they have the funds and that they are operating fairly by verifying through cryptography, so it really is win win from the safety side of things. Some of these casinos don’t even require people to complete a traditional sign up process, so their identity will always remain anonymous throughout, so there is no risk of them having their details misused.

The mainstream gaming operators can only look at the implementation of cryptocurrency as a good thing, especially as it will make some people feel safer when playing online. If cryptocurrency such as Bitcoin becomes an acceptable payment method in mainstream online casinos, it will definitely see companies attract more customers and that can only be a good thing. The more traction virtual currencies get in the media, the harder they will be to ignore for big companies all around the world.

By Steve Marks

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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