This year is going to be really big for Bitcoin in every aspect. It’s the year when Bitcoin will go fully mainstream, and it’s already happening in the online gambling sector. More and more online casinos and sportsbooks are adding Bitcoin as a payment method next to the standard ones like credit cards, e-wallets, and bank wire. Moreover, the bonuses that these gambling sites give to players can be claimed in bitcoins too. You can get a picture of what bonuses look like by taking a look around the google, go ahead – i’ll wait.
Bitcoin on the Rise
3 Reasons Bitcoin Is Booming Again, Price Nears $550
The wider public may not be familiar with Bitcoin yet. There are even hardcore gamblers that haven’t discovered the advantages of using bitcoins for their gambling activities, but a good deal of the people in the gambling market are familiar with the most popular cryptocurrency.
A fact that may shock you is that over the past 5 years Bitcoin gambling has become a multi-million dollar industry. You can find Bitcoin gambling sites stretching from China to the USA. Thanks to the accessibility and anonymity of this currency gamblers have been free from the regulations that restrict them do what they would do with regular currencies. But, is there a chance that going mainstream may produce new regulations that encompass cryptocurrencies too?
Bitcoin Is Getting Attention
PwC Report Has High Hopes for Bitcoin in Show Business
This year may be the year when governments in the world will officially recognize Bitcoin as a legitimate currency. It may be next year, or the year after that or at any point in the future. Gaming authorities have already recognized it and are trying to implement it as a legitimate currency for gambling. A final official recognition could make the cryptocurrency market explode into a frenzy, and some mainstream casinos may even abandon regular currencies due to taxations and other restrictions.
One of the homes of the largest online casinos, Malta, is currently very hostile towards Bitcoin. Any online casino or gambling site that operates with a Malta Gaming Authority license is unofficially forbidden from offering this cryptocurrency. Maybe because Bitcoin has been tied to the black market in the past. But, with the successful implementation of Bitcoin by some major gambling sites, even that may change. MGA haven’t released any official statement regarding their thoughts on Bitcoin anyway.
Bitcoin Adoption
Why These Game Devs Are Betting on BitCoin as a Monetization Tool
One of the major concerns of Bitcoin-only gambling sites is that if all sites that offer regular currency start to accept Bitcoin, there will be a mass exodus of the purely Bitcoin gambling casinos and sportsbooks. In reality, this may well mean an enormous marketing campaign in their favor. When a gambler sees that a reputable and long-standing gambling sites are not afraid to offer Bitcoin, he may start developing interest in this currency and won’t look with doubt towards Bitcoin-only sites. One thing is sure, Bitcoin gambling is going mainstream in 2016.