The combination of gambling and cryptocurrencies
The Benefits that cryptocurrencies bring to society can no longer go unnoticed, which is why Poker Networks has become one of the organizations that have benefited greatly from supporting this new form of money through the past few years. The fact that you can now play a game and get paid for it, is a revolutionary idea in itself. This is why Winning Poker Networks and Bitcoin have been doing really well these past few years. There are numerous online betting and gambling sites that have started accepting cryptocurrency payments. The currencies are used in order to fulfill efforts to complement any existing options, This will give consumers more options in gambling with a pseudonymous currency like bitcoin in order to make better decisions.
Through the release of a new report, it seems that a lot of proceeds are coming from Bitcoin and Altcoins with a few being supported at the moment. After the initial start the gambling organization has seen things picked up significantly. According to statistics cryptocurrencies are now representing 60% of all platform transactions to the Winning Poker Network (WPN for short). The company has a strong support that is coming from crypto enthusiasts who value the payment methods that cryptocurrency provide.
Gambling platforms will become prominent with the use of Cryptocurrencies
Most gambling platform providers will stick with the benefits of bitcoin and other similar altcoins, because of the popularity and usability of the coin. The benefits of accepting cryptocurrencies as payment are quite staggering. Cryptocurrencies bring gambling to a new level, as these currencies represent trust and a win-win strategy. Secondly, these currencies can be used globally and instantaneously without the need for any middleman, fiat currency exchanges or money transfer.
The location of the player does not matter as they will have access to cryptocurrencies and can enter a gaming round at any time from anywhere around the world.
Because of the pseudonymity of bitcoin and other equivalent cryptocurrencies, the trail that players usually leave behind when engaging in online gambling will be removed. There is no financial statement or records that are linking these specific users to any account, which provides a degree of privacy that players can use.
There are some regulatory developments that are paving the way for a more broader and seamless adoption of cryptocurrencies in the gambling industry. There are some guidelines which were introduced to the public by Gibraltar, which has made encouraged the country of Malta and officials to do the same. Other countries have begun looking deeper into the topic in order to render their verdicts accordingly, as these industries will becoming more crucial in the coming years while increasing the value of every cryptocurrency that is being used.
What are your opinions on these decisions being made by gambling platforms to use cryptocurrencies? Please feel free to leave your comment down below.