The situation that has been slowly creating waves in our industry is the use of bitcoin.
Today, cryptocurrency payments make an integral part of gaming ecosystem. According to some estimates, 40% of Bitcoin turnover is related to online gaming.
We are one of those sites who accept bitcoin as a valid payment. In fact we encourage many of our clients to use the service.
“Someone is going to figure out how to make this work and when they do, all the anti-gambling, over-regulating authoritarian governments will be exposed as emperors without clothes.” – Calvin Ayre
That quote is from 2011, here we are almost 7 years later and the extent of education and functionality has increased, yet the ease of use still has not reached plastic or cash.
The real push in our industry comes from the anonymity it enables. The block chain creates an almost unbreakable code that for the time being Federal governments cannot break.
In research, I have found a few companies have looked into reverse ATM’s where you can convert cash to bitcoin by inserting money on spot with no teller to a specified bitcoin wallet. The ONLY record of transaction is conversion time and amount. This is also a point of regulation as several states do not allow these types of ATM’s within state line.