Skip to main content

Scarce Banking Services Can’t Stop Online Gambling

Despite the absence of banking services, online gambling in Africa and in some parts of Asia is expected to flourish through the presence of Bitcoin.

Strict regulations are the primary barrier impeding the rise of online gambling. Beyond the restrictive government control, however, the lack of banking services also hinders people from finding entertainment from luck-based games played on the web.

A decentralized, peer-to-peer digital currency, Bitcoin emerges as the top solution to exempt the online gambling community from the factors that delimit their ability to wager and win on the Internet. This, therefore, explains Bitcoin’s vital role in the spread of online gambling in the developing markets, such as Africa.

According to reports, South Africa, Nigeria, and Kenya exhibit high market potential in the iGaming industry, with all three expected to generate an offline and online gambling sector worth $37 billion by 2018.

Unfortunately, this market prediction may not materialize due to the poor banking services across the continent, leaving a large portion of its population unbanked. Kenya’s largest mobile money service called M-Pesa proves to be an effective platform for the money to circulate, but Bitcoin is better suited to push for a larger market of online gambling in Africa, especially with the Bitcoin warning in Kenya released by the country’s central bank.

bwin.party

Bitcoin plays a crucial role in bwin.party’s expansion

A collection of popular games, a sizeable customer base, and a strong market presence make bwin.party a solid brand in the industry. Its plans of venturing into other markets outside Latin America, specifically to Africa and Asia, may face a tough hurdle, but may push through with less struggle should Bitcoin be accepted.

Bitcoin has created a stronghold in the iGaming industry over the years as more entrepreneurs and online gambling enthusiasts realize the benefits of using the digital currency. Quick withdrawals, player anonymity, and safer games are the prime features Bitcoin gambling forwards that are lacking in real-money gambling.

Adding Bitcoin to the accepted currencies may help bwin.party achieve its goals. Otherwise, the online sports betting market it aims to establish in the developing countries, especially in Africa, may eventually fail to take off and to meet the expected returns.

Should this happen, it would be a wasted opportunity since bwin.party could be another industry player that offers a variety of online gambling services, including sports betting, poker, casino, bingo, soft games, and even financial spread betting.

Bitcoin in Online Gambling Industry

Can Bitcoin truly save the day?

The growth of the Bitcoin gambling industry is a testament of the need for an alternative medium through which online bettors can gamble. Bitcoin slots, poker, table games, sports, and more are available in the cryptocurrency niche, and are best experienced in casinos and other betting sites showcasing the benefits of Bitcoin in online gambling.

Bwin.party and other gaming companies can learn from the successful brands on the Bitcoin market like Betcoin.ag, as well as those that initially offer real-money gambling but eventually accepted Bitcoin. An example of this is Americas Cardroom, Winning Poker Network’s flagship online poker room that integrated Bitcoin into its system early this year.

With a stable environment for gambling online with Bitcoin, the next step would be to expose more people to cryptocurrencies and the special functions in today’s society. After all, despite the absence of proper banking services, an unbanked individual can still explore the world of gambling entertainment through Bitcoin.

LATEST CASINO NEWS & BLOGS


News

Interview with RAIG Chairman Clive Hawkswood

January 15, 2020

Clive Hawkswood is the chairman of Responsible Affiliates in Gambling (RAiG), an independent body that aims to promote safer, responsible gambling.

Reality Clash Redefines Mobile Gaming Landscape

December 16, 2019

Reality Clash is a Blockchain-based augmented reality (AR) game that combines the elements of Pokemon GO and first-person shooter games.

Skrill & Neteller Returns to Brazilian Gaming Market

December 12, 2019

Online bettors in Brazil can now use Skrill and Neteller once again after the two ceased operations in the country beginning February 2018.

Blogs

Spooky & Creepy: Halloween Slots for Crypto Players

October 28, 2019

These online slots are perfect for Halloween! Check out the new Halloween slots from popular game providers on fiat money and crypto casinos online.

4 Reasons Why Game Providers’ Crypto-Themed Slots Fail to Attract Crypto Players

September 4, 2019

How can crypto-themed slots effectively get the attention of crypto players and tap the growing crypto gambling community? Here are 4 mistakes to avoid.

5 Fireworks-Themed Slots That Give You an Explosion of Fun

July 3, 2019

Love colorful fireworks? Here are five fireworks-themed slots by different game providers that can be played in most crypto-friendly casinos.

CHOOSE CASINOS NOW
LOGIN TO BBC
No account yet? Register here
JOIN US NOW
Already have an account? Login