BITCOIN AND ONLINE GAMBLING

Published on April 15, 2015 in Industry News

BitcoinsThe very essence of online gambling is convenience. The convenience of no longer having to get dressed and be surrounded by people while you play your favourite casino games. You also don't have to worry about carry cash or credit cards around to pay for your credit.

The digital currency, Bitcoin, is an extension of that convenience and has blended itself into the online gambling world. With Bitcoin, deposits and withdrawals can be dealt with instantly and securely. You don't have to worry about sensitive credit card information being leaked or even your identity if you so choose. You can remain completely anonymous.

While Bitcoin was extremely popular and quickly embraced when it was released into the market, there were issues that caused the overall value of Bitcoin to fall. The digital currency now seems to be making comeback in the gambling world and a new platform has even been launched which caters for Bitcoin gamblers. 

DigitalSport Entertainment N.V. recently created BetKurus, a platform that functions as a Bitcoin sports book and a Bitcoin casino. CoinMatrix, the Hong Kong based online payments gateway, has teamed up with DigitSport Entertainment N.V. and invested more than $600,000 into the platform. 

The popularity of Bitcoin is also growing in markets where online gambling may be prohibited. Bitcoin makes gambling for players in the U.S., Argentina and many others easier as it's considered a commodity more than a real currency. That means there are no laws of the federal government being violated. 

There are more and more online casinos accepting Bitcoin as a form of gambling currency and it's secure and easy payment system. Whether it will continue for many years to come, only the future can tell. For now, those who have invested in Bitcoin are revelling in the ability to spend their digital currency while enjoying their gambling experience.