Will Philippines Be The New Home for BTC Gambling?
China leads the Bitcoin market in Asia with more than 80 percent of Bitcoin transactions on the blockchain network, according to this year’s research.
Singapore and Hong Kong, on the other hand, have also surfaced as industry players in the region, showcasing higher rates of adoption and usage as compared to their neighboring countries.
However, the Bitcoin market growth in these countries is restricted by the stringent protocols in terms of cryptocurrency usage, especially when it deals with Bitcoin gambling.
Singapore, for instance, recently blocked its doors on offshore gambling websites, including those that operate on Bitcoin, leaving the land-based casinos in the country the primary source of gambling entertainment.
Meanwhile, Hong Kong, although not as gambling-inclined as Macau, does not hinder its people from placing bets on online gambling platforms, provided that they operate legally. This means Hong Kong Bitcoin gambling is also welcome, along with the country’s friendly approach to cryptocurrency.
However, it is not a happy story when it comes to Bitcoin gambling in China. Regardless, the Bitcoin gambling market in Asia may find its newest home—one that will push the industry to greater heights and become the newest source of quality entertainment and rewards through Bitcoin games.
Bitcoin growth in the Philippines
The Philippines is hailed as one of the emerging markets that help boost the adoption of Bitcoin, and it made itself more viable to become Asia’s next Bitcoin-friendly nation with the significant records of digital currency transactions.
In fact, Bitcoin seller Paylance on LocalBitcoins hit a record-breaking trend, hinting that more locals are exchanging their Philippine peso for Bitcoin.
Paylance CEO Jay Villarante confirmed that the recent figures are neither caused by a system bug nor are associated to one buyer only. He associated it to the Filipinos’ realization of the advantages of the cryptocurrency instead.
Moreover, Anthony Chua, president of Coinage, emphasized that the volume of Bitcoin trades are not isolated in one exchange, but are evident in the entire country.
The Philippines is a perfect venue for Bitcoin to flourish since it has a large population, it is adept in using the Internet, and it receives a high amount of remittances from overseas workers.
With these characteristics making Bitcoin in the Philippines possible, the idea of the Bitcoin casino market also making progress is not too far-fetched.
Bitcoin gambling to thrive on Filipino grounds
Given that the Philippines displays an encouraging response toward cryptocurrency trades, Bitcoin casino operators cannot help looking into the possibilities of establishing more connections in the region.
Perhaps the most vital hindrance Bitcoin casinos face in the attempts to broaden their audience base is the gambling regulations of the nation.
Considering this factor, the niche has high chances of promulgating Bitcoin gambling in the Philippines since the country is rather laidback when it comes to gambling regulations.
In fact, the republic has already opened its doors for Bitcoin-based gambling platforms like OLE Bitcoin to legally operate and promote Bitcoin gambling. Also, this sportsbook agent is based in the Philippines and is regulated by First Cagayan.
Asian Bitcoin casinos like Coin178 are now certain to spread its services and invite Filipino players to its domain considering that difficult Bitcoin acquisition is now eliminated by established Bitcoin exchanges and services in the peninsula. Other Bitcoin casinos and gambling sites are also accessible to players in the country.
With everything in its respective place, Bitcoin casinos in the Philippines are served with both healthy grounds for development and a warm bunch of audience who are certain to support the advocacy of Bitcoin.
Needless to say, Bitcoin gambling could now be more fun in the Philippines as more factors promote Bitcoin gambling in Asia.