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The rise of iGaming and BitCoin

Oct - 19 - 2016
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igamingandbitcoin

BitCoin is starting to become a widely-accepted currency. From online casinos, travel agencies and restaurants, the digital payment system created in 2008 is becoming more and more popular.

Users tend to be the younger, Generation Z; those whom like innovation and change. Those also the ones who have grown up in the digital economy, purchasing virtual goods and playing social games, and in an era where they're more-likely to make a purchase online than drive 20 minutes to make the same purchase. They have grown up with this technology; it's their way of life.

BitCoin is also accepted on many daily fantasy sports websites. Daily fantasy sports sites allow you to bet against your friends or other users based on real-life sporting events, such as how many yards Tom Brady throws for on Sunday, or how many points Stephen Curry nets for the Golden State Warriors each game next season. You can now be check online fantasy sports news just as quick as you can login and play the game itself.

What's more, there are several potential consumers that may not have access to traditional banks, ATMs, debit cards etc. for one reason or another and could be wishing to make a purchase through BitCoin for goods and services.

The currency itself has been embraced by the likes of Goldman Sachs, Nasdaq and Visa. PayPal now accept BitCoin and Dell sell computers using the same currency. More and more companies are adopting BitCoin and it appears just a matter of time before the currency is universally accepted.

Online casinos were one of the first markets to widely accept BitCoin. Nowadays there are even casinos solely dedicated to accepting payments by BitCoin. Most of the major casinos and online bookmakers in general will accept BitCoin transactions.

The industry itself is quote innovative and different - often ahead of the game when it comes to online and Generation Z. What's more, withdrawals from an online casino using Bitcoin is almost instantaneous - which allows users to cash out their winnings immediately. Withdrawal via debit card can often take 2-3 days to reach your bank account.

So expect more and more gaming companies to follow suit in the very near future because cryptocurrencies likes BitCoin are here to stay. Be prepared to see them widely-accepted in restaurants, supermarkets and everyday businesses not so far into the future.

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