Bitcoin has had a very successful year in 2016 and it has unobtrusively become a vital part of the online gambling industry. This digital cash system has been around for a while but online gamblers had a very small choice of sites that accepted it. Last year, however, many gambling sites took the decision to adopt this currency seeing that customers prefer it for its convenience and anonymity.
Some of the biggest names in the online gambling industry such as Bodog and 5dimes have included Bitcoin amongst the different money transfer options available to customers. Interestingly, the highly influential affiliate networks that direct traffic to gambling sites are beginning to take the opinion that Bitcoin is a necessity and not just an option. Affiliates are very enthusiastic about Bitcoin because they experience a lot of problems getting payments using traditional payment systems. Winning Poker Network and Betting Partners are two powerful affiliate networks that have chosen to deal only in Bitcoin. There are indications that Commission.bz will be joining them soon. Drake Affiliates hasn?t restricted its payments to Bitcoins but it gives incentives to make the switch.
Betting Partners had written to its affiliates explaining why it chose to deal exclusively in Bitcoin. For one, payments would be processed within an hour. In addition, while there would be no limit on the amount that could be transferred, the minimum payout amount would be reduced to $10. Finally, there would be no need to provide any personal information to have payments processed.
Calvin Ayre of Bodog, another prominent voice in the industry said that Bitcoin would be omnipresent in the industry by the time 2017 was done. In a widely distributed and discussed blog post Ayers said that Bitcoin would enable gambling sites to be free of government dictated efforts to block payments to them. Furthermore, Bitcoin would leave gambling regulators with little role to play since the blockchain technology it was based on would ensure that all transactions were transparent, thereby ensuring absolute fairness. Ayers also suggested, not entirely jokingly, that operators would do well to store their money as Bitcoins because this currency has become a good investment alternative to gold.
The UK Gambling Commission has given its go-ahead for licensees to include Bitcoin amongst their payment options. However, it does have a requirement that operators would not enable the use of Bitcoin for money laundering. The endorsement from the UKGK has resulted in many sites getting on the Bitcoin bandwagon. It?s clear from the eagerness to adopt Bitcoin that the traditional banking system has put too many obstacles in the path of the fast-growing online gambling industry.
Secrets of the Phoenix Slot has Many Takers
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