Why Casinos Started to Pay Out in Bitcoins?

[joromz1226]

In July 2017, Bitcoin hit a new all-time high against the USD, earning any Bitcoin bettor a whopping $3,000 for every coin traded. According to the CoinDesk Bitcoin Price Index, BTC crossed the mark sometime in the month to set the all-time high against most of the major currencies. And with an increasing number of people continuing to use the Cryptocurrency globally, the value is set to increase more.

Considering the near global and industry adoption of the currency, favored mostly because of its decentralized system, it’s no surprise that there are people, and bettors are continuing to adopt this method of payment for online casino games, too.

Check out five reasons why casinos started paying out in Bitcoins.

Because it is less cost, and many of the payers in the gambling world are bitcoin players already. Then, bitcoin was decentralized that's why bitcoin don't have any taxes and others. So the casino, can't be touch by any of the government sectors.

[1715471011]

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[1715471011]

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[1715471011]

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[Wipro]

In July 2017, Bitcoin hit a new all-time high against the USD, earning any Bitcoin bettor a whopping $3,000 for every coin traded. According to the CoinDesk Bitcoin Price Index, BTC crossed the mark sometime in the month to set the all-time high against most of the major currencies. And with an increasing number of people continuing to use the Cryptocurrency globally, the value is set to increase more.

Considering the near global and industry adoption of the currency, favored mostly because of its decentralized system, it’s no surprise that there are people, and bettors are continuing to adopt this method of payment for online casino games, too.

Check out five reasons why casinos started paying out in Bitcoins.

Because it is less cost, and many of the payers in the gambling world are bitcoin players already. Then, bitcoin was decentralized that's why bitcoin don't have any taxes and others. So the casino, can't be touch by any of the government sectors.

Still there are lot of active gambling site being paid to poker room members to play a poker games. Recently US government blocked many poker site.
Bitcoin payment preferable to every people which will increase in rate wise every time.

[xuan87]

There are a lot of things that suitable between casino and Bitcoin, all of the Bitcoin feature like anonymity, fast transaction, accepted worldwide and easy to setup a wallet, are really suitable for world wide casino, and as I know since casino accepting Bitcoin, their profit and revenue is increasing, so Bitcoin gives very positive affect for casino, no wonder casino accepting bitcoin

[BitcoinSupremo]

It is a perfect combination, casinos are free of charge backs from the likes of Paypal, Skrill and Credit Cards, all major payment systems in FIAT casinos. Players are free from being forced to show their identification papers in order to play in FIAT casinos. End result ? Both parties are happy to have Bitcoin as their only payment system. It ensure users privacy and the casino is free of charge backs and if the casino is a believer in Bitcoin future rise in price ,this is another advantage for the casino.

[BlockEye]

There are a lot of things that suitable between casino and Bitcoin, all of the Bitcoin feature like anonymity, fast transaction, accepted worldwide and easy to setup a wallet, are really suitable for world wide casino, and as I know since casino accepting Bitcoin, their profit and revenue is increasing, so Bitcoin gives very positive affect for casino, no wonder casino accepting bitcoin

It is the easiest way to deposit amounts in gambling casino. Btc and any alts were the new form of tokens in order to play in casino. Lucky those gamblers who are too busy that can't go in real casino ,when they have spare time they can play anywhere anytime through btc. It's the newest trend on doing gambling ,playing in via phone or at home.

[mondobitcoin]

1. Because bitcoin has become popular and the casinos want to offer to people another choice for deposit money
2. Because its clear and without "tracking" of your deposits/withdrawals , nobody can trace you, with credit card or others method there is trace of your movements, a lot of people dont like this, they want privacy, and casinos understand this

[LuanX3]

Because bitcoins are easier to work with than the regular channels. Think about it, if you are a casino, it is super easy to implement a bitcoin deposit and withdrawal system. You don't need to get a visa, mastercard, paypal, whatever payment method license or whatever procedure you need to do. All you need is code and you're ready to accept it and pay withdrawals with it.

[Slark]

I read this article and one reason is still: cheap transaction fees - what a nonsense is that? According to bitcoinfees21.co -
'For the median transaction size of 226 bytes, this results in a fee of 101,700 satoshis' - which is currently around ~$4.5.
This is a feasible fee for whales, who are spending hundreds or thousand in one gambling session. People who play with peanuts won't like that fee...