Gambling And Bitcoin
Over the late two years the Bitcoin Gambling industry has experience major growth and more casinos along with betting companies are integrating BTC systems. Gambling was one of the first major online sectors to take advantage of digital currency and the games started off extremely basic but not the can compete with any online gambling website. If the adoption rate continues it will not be long before Bitcoin takes over the gambling industry.
The amount of sportsbooks and casinos that accept Bitcoin as a payment method has substantially grown and a whole new industry is emerging. Thanks to the blockchain new nd exciting games are popping up all the time which are more geared toward giving the best possible odds to the player. A large number of BTC gambling sites have a Faucet attached so players can get free money to bet with and take zero financial risks. Traditional online betting website can no compete and will have to adapt or get left behind.
In the UK the Gambling Commission have updated all the codes of practice long with licensing conditions to include BTC. The license update includes set rules to stop money laundering with Bitcoin through their sites.
It is certain that in the near future digital currency will play a huge role in our lives and will greatly impact the gambling industry. With the many advantages for operators and players it is impossible for the sector to ignore. Once regulations and price stability are settled all will jump on board and it will change the face of the online gambling world. The Blockchain provides provably fair play, user anonymity, low financial transaction fees and enables players to bets with tiny amounts not possible using Fiat Currency.
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Although not many people seemed to notice, Bitcoin was heavily integrated into various aspects of the online gambling industry in 2016. While there have always been bitcoin-specific gambling websites available, 2016 was the year when the traditional online gambling industry stated to adopt the digital cash system en masse. […]