Bitcoin Extends Possible Lead in iGaming Sector
It seemed for a long time that nothing can stop real-money online gambling market from dominating the gaming scene. But Bitcoin, being truly revolutionary, proved otherwise.
In as quickly as a few years, Bitcoin has already started reshaping the iGaming industry using its innovative features. It easily became the supplementary method for players to bet on games on the Internet, but is advancing to become the primary payment system employed even by the fiat-operated betting portals.
The tide shifts in favor of Bitcoin betting
Real-money casinos, sportsbooks, poker rooms, and other gambling sites are in danger of losing their customers once the Bitcoin gambling industry inches closer to the pedestal. As more Bitcoin casino and other gambling sites launch on the market, the public’s awareness toward Bitcoin’s technology—especially the blockchain—becomes the instrument to attract more online casino enthusiasts to embrace the digital currency.
In fact, with the wide attention Bitcoin is receiving in the iGaming sector, it is likely for all real-money gaming business operators to keep a close eye on how cryptocurrency will impact their market performance. Some have even opted to embrace Bitcoin and provide their loyal base of players with options in making transactions on their platforms.
Americas Cardroom is one of the recent gaming websites to follow the trend when Winning Poker Network finally indulged Bitcoin as part of its accepted payments. Now a Bitcoin poker room, it processes Bitcoin deposits and is reported to be working on adding an option to withdraw bitcoins anytime soon.
Operators should snub regulators for now
The rise of the Bitcoin casino market, however, is challenged by the looming legal restrictions that may soon concern the use of bitcoins to gamble online.
Signs of regulation are on the horizon, but Jon Matonis expressed in his penned article an advice directed at Bitcoin gambling businesses to simply ‘ignore the regulators.’ He stressed right after, though, to do this only while the industry still functions in a gray area.
With the universal nature of Bitcoin, its gambling markets can appeal to all betting enthusiasts who wish to place bets on different Bitcoin casino games online. As its reach widens, there is, indeed, a bright future for Bitcoin to dominate the online gambling scene.