Why online gaming could use a bit of cryptocurrency to grow even more

Last updated on June 30th, 2013 at 09:05 pm

Disruptive technologies. That’s what we call to everything that pops up and seems new to us. Online gaming was like that and so it is Bitcoin. These two services have this fact in common, but that’s not all. Apparently, according to the experts who love to predict things, Bitcoin payments could quickly become the boost that online gaming needs to become even more powerful and attractive to players.

The theory is all there, but why isn’t this happening in reality? Well, according to a Forbes collaborator, who recently attended the conference Gaming in Holland, in Amsterdam, there are two main reasons that explain it: online gambling companies don’t want or need the scrutiny from the  regulators and, also, players aren’t asking for it.

However, the situation might be different to the newcomers, the industry upstarts, since they already are required to ask for the player identity in order to prevent suspicions of money laundering or other frauds. There are some directories like mem’s Bitcoin Gambling List or Bet with Bitcoin where you can find places to gamble.

Ultimately, Bitcoin can be considered the ideal digital casino chip, since it’s immediate, irreversible and also private. The list of benefits for gambling sites that want to adopt cryptocurrency is huge: it can help a website reaching countries that Visa, MasterCard or PayPal can’t reach, end the episodes of disallowed or blocked merchant category codes, as well as the embargos or confiscations of the holdings, and eliminate costly merchant chargebacks, among many other advantages.

We believe these new possibilities are going to enhance the customer gaming experience and drive new traffic to the websites, they just need to realise that. The sooner, the better.

Via forbes.com

Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.
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