Poker network now gives '95% of payouts’ in Bitcoin

[Charles-Tim]

WinningPoker network now gives '95% of payouts’ in Bitcoin — around $160M monthly. Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

I think bitcoin is becoming dominant payment method in gambling, what do you think about this?

https://cointelegraph.com/news/poker-network-now-gives-95-of-payouts-in-bitcoin-around-160m-monthly

[avikz]

Bitcoin has always been the dominant payment method in gambling world. Gambling is the only major sector which adopted bitcoin from the very inception of this cryptocurrency because of the benefits it can provide in a sector like gambling!

This way the gambling sector was successfully able to reach out to the global audience without the need of an intermediary like Moneybooker or Alertpay. Earlier, people used to open an account with Moneybooker or Alertpay, then get themselves verified and then they were able to load those account using credit/debit cards. Bitcoin simply removed all those barriers. So it's a win win situation for both the players and the house!

[Becky666]

<snip>
I think bitcoin is becoming dominant payment method in gambling, what do you think about this?
.............

Yeah, it was and still is. Bitcoin has made some good move which has helped from the shortcomings inherited from the traditional way of gambling, with this technology we no longer think of the middlemen which was much needed in the past. This should be one of the best change made by Bitcoin that made it a "dominant payment method" among gamblers. Currently, almost all the online gambling casinos have made Bitcoin as one of their payment method, though, the transaction fee sometime is something else IMO.

[Zackgeno96]

I think it could be even more, as bitcoin transactions cannot easily be linked to the ultimate recipient. So I wouldn't be surprised if those amounts are many times higher.
The poker world also involves skyrocketing amounts from time to time.

[Charles-Tim]

This way the gambling sector was successfully able to reach out to the global audience without the need of an intermediary like Moneybooker or Alertpay. Earlier, people used to open an account with Moneybooker or Alertpay, then get themselves verified and then they were able to load those account using credit/debit cards. Bitcoin simply removed all those barriers. So it's a win win situation for both the players and the house!

I can only agree more to your point, using fiat for payment especially for international payment could be very discouraging, but bitcoin made the cross-border payment easy. And also bitcoin was able to bypass many restrictions, like in my country, I can only send out $200 monthly in total as foreign payment using my master card, it was even $100 before. All these kind of restriction is bypassed by bitcoin.

Currently, almost all the online gambling casinos have made Bitcoin as one of their payment method, though, the transaction fee sometime is something else IMO.

You are right, bitcoin transaction fee can be high at times, but you can make use of noncustodial wallet to pay bitcoin, I remember I still made a transaction of 0.00002 btc recently, and it took only hours, but there are many times the feel can be high, but better. And, altcoins like litecoin can be a good alternative, but bitcoin has the highest number of users using crypto for gambling.

[swogerino]

WinningPoker network now gives '95% of payouts’ in Bitcoin — around $160M monthly. Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

I think bitcoin is becoming dominant payment method in gambling, what do you think about this?

https://cointelegraph.com/news/poker-network-now-gives-95-of-payouts-in-bitcoin-around-160m-monthly

I think you are right as the industry who is supporting more bitcoin right now seems without a doubt the gambling industry.I hope regulators do not screw up as they do with a lot of things and leave bitcoin alone.Bitcoin is already dominant in the gambling industry for crypto users but it feels good when we see that it is passing into new bounderies and we all will only benefit from this.

[robelneo]

WinningPoker network now gives '95% of payouts’ in Bitcoin — around $160M monthly. Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

I think bitcoin is becoming dominant payment method in gambling, what do you think about this?

https://cointelegraph.com/news/poker-network-now-gives-95-of-payouts-in-bitcoin-around-160m-monthly

At this point in time I will also request to get paid in Bitcoin, have you seen how Bitcoin pump in just 5 days and continue to pump, I poker players are also looking on the market, and how it pump this week.
We will see many local poker club asking to get paid in Bitcoin it's like hitting two birds in one stone, imagine you are about to receive $1000 in the network, and the price happens to pump, that's extra profit for you, but of course there's always a risk.

[Oshosondy]

I dont like that all poker sites are SCAM.Reason why I am telling that is that I used program which can calculate each hand how much chances you had to win that game.And like example it can count 10000 hands and then you can see result,it will say SCAM because poker dealer on table give many times win to players which have worsts hands so casino can get bigger profit from poker players.

Maybe you have lost a great amount of money while playing poker before, sorry for that. But know that your comment is not in correlation with the topic at all, it is about how poker players prefer to use bitcoin to withdraw instead of using other alternatives like fiats, and the reason for this has been because of ease of use of bitcoin and recently this could have increased as a result of the price of bitcoin that is increasing.

[sunsilk]

WinningPoker network now gives '95% of payouts’ in Bitcoin — around $160M monthly. Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

I think bitcoin is becoming dominant payment method in gambling, what do you think about this?

https://cointelegraph.com/news/poker-network-now-gives-95-of-payouts-in-bitcoin-around-160m-monthly

WPN responded well on the request and demand of the Poker players. And that's how should a business cater the demand and needs of their players to make them reliable. We might see some other gambling network providers who haven't yet applied bitcoin as payment soon to turn and start allowing payouts and withdrawals through bitcoin.

I dont like that all poker sites are SCAM.Reason why I am telling that is that I used program which can calculate each hand how much chances you had to win that game.And like example it can count 10000 hands and then you can see result,it will say SCAM because poker dealer on table give many times win to players which have worsts hands so casino can get bigger profit from poker players.

It is you that tells that because you are disappointed with the result that you did with that program. Poker players won't tell the same thing and there's no need to use a program to tell your chances to win.

If you have been playing poker, you know how to determine the strength of your cards with the cards in the table.

[carlfebz2]

WinningPoker network now gives '95% of payouts’ in Bitcoin — around $160M monthly. Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

I think bitcoin is becoming dominant payment method in gambling, what do you think about this?

https://cointelegraph.com/news/poker-network-now-gives-95-of-payouts-in-bitcoin-around-160m-monthly

WPN responded well on the request and demand of the Poker players. And that's how should a business cater the demand and needs of their players to make them reliable. We might see some other gambling network providers who haven't yet applied bitcoin as payment soon to turn and start allowing payouts and withdrawals through bitcoin.

You are right!

Its good to see that they had responded on things correctly on which they do seem that it would really make themselves even way more better.

Theres no doubt that other providers or businesses will really reconsider specially now that companies are gradually making some integration when it comes to bitcoin payments.

I havent put out any doubts for bitcoins potential to be accepted.

[Reid]

That's good news.

“We are constantly having to go out and buy Bitcoin,” the Winning Poker Network reports.

And I kept on reading.

“We are constantly having to go out and buy Bitcoin — lots,” said Nagy.

Lots? Wow.

But, is it really adoption or players are trying to evade taxes?

According to Nagy, the majority of customers playing poker on the network reside in the United States, which may help explain their preference for crypto as a medium of exchange given that online gambling is legal in only 11 out of 50 states. The CEO, who is based in Costa Rica, admitted to not checking whether players file their winnings for tax purposes.

Good for bitcoin supporters but again, the government may become the wall for this to happen broadly.

[figmentofmyass]

that should come as no surprise since WPN is heavily american players. poker rooms are legally prohibited from serving us, and banks are legally prohibited from transferring us gambling winnings.

ever since black friday in 2011 it's been pretty brutal for any americans trying to play online professionally. back when i was playing semi-pro there would sometimes be weeks and months-long banking delays. sometimes you'd receive check withdrawals and they would bounce. we started having to sell funds at a 20-35% discount to get instant p2p bank transfers from other players.

that's actually how i originally discovered bitcoin---seals with clubs emerged around that time, and they were offering this cool new way to bank ourselves where the government couldn't fuck with us.

[sunsilk]

You are right!

Its good to see that they had responded on things correctly on which they do seem that it would really make themselves even way more better.

Theres no doubt that other providers or businesses will really reconsider specially now that companies are gradually making some integration when it comes to bitcoin payments.

I havent put out any doubts for bitcoins potential to be accepted.

It is about to be accepted anywhere. I just hope that this bullish trend for bitcoin won't end that fast as it's also gathering attention for most businesses and makes them interested to see where it goes and why people are getting crazy about it.

And for other providers, they're likely to do the same if there are demands of accepting bitcoin.

[Poker Player]

It is about to be accepted anywhere. I just hope that this bullish trend for bitcoin won't end that fast as it's also gathering attention for most businesses and makes them interested to see where it goes and why people are getting crazy about it.

And for other providers, they're likely to do the same if there are demands of accepting bitcoin.

What?

Do you wanna bet?

What would constitute a breakthrough is for Pokerstars to accept bitcoin but that's not going to happen any time soon. I dream of that day.

[Steamtyme]

It's no surprise that this news comes from WPN, that's one of the biggest draws for playing poker on their network- Crypto deposits and withdrawals. I'm sure that's part of the reason they are so big and can offer a superb schedule.

The funny ting is though what people will be doing is pulling out a portion of their bankroll in hopes of gaining a few% while the price is rising. I imagine it all funnels back in once we start to see a dip. For some it will be like binking a tournament by simply withdrawing and redepositing.

“We are constantly having to go out and buy Bitcoin — lots,” said Nagy.

Lots? Wow.

Should have tried to hold onto more lol. I'm sure Nagy is making out just fine.

[Wexnident]

Well, casinos are one of the businesses that have been heavily influenced by crypto since long ago and have continued to do so till this date. Not really weird considering that. Casinos have to stay up to date, especially big companies like WPN. Especially if demanded by players themselves, WPN has no choice but to consider.

I dont like that all poker sites are SCAM.Reason why I am telling that is that I used program which can calculate each hand how much chances you had to win that game.And like example it can count 10000 hands and then you can see result,it will say SCAM because poker dealer on table give many times win to players which have worsts hands so casino can get bigger profit from poker players.

Who said chances were absolute lmao. Even if we do say that 50% is the chances of you winning, you could still lose 100 times before winning anything. If poker sites were scams, would the community even have thousands of players? Besides, if programs that calculate the chances of whatever you're saying guaranteed a win, Gambling itself would've disappeared from this world since no one would be willing to host gambling games when they're just guaranteed to lose.

[sunsilk]

It is about to be accepted anywhere. I just hope that this bullish trend for bitcoin won't end that fast as it's also gathering attention for most businesses and makes them interested to see where it goes and why people are getting crazy about it.

And for other providers, they're likely to do the same if there are demands of accepting bitcoin.

What?

Do you wanna bet?

What would constitute a breakthrough is for Pokerstars to accept bitcoin but that's not going to happen any time soon. I dream of that day.

I've said, "about" which means that it could be in the process and it includes other industries and businesses.

We will never know if PS will adopt it soon. But as I've said with the condition of a demand being done by their customers, it is possible. Unforeseen things like this with WPN could also happen for them.

[Poker Player]

I've said, "about" which means that it could be in the process and it includes other industries and businesses.

We will never know if PS will adopt it soon. But as I've said with the condition of a demand being done by their customers, it is possible. Unforeseen things like this with WPN could also happen for them.

Yes, well. I've been playing poker for quite a few years now, mainly at Pokerstars and Pacific, although I've also played poker in other fiat rooms and I can tell you that there's no real demand to play with bitcoin in the major rooms these days. I don't just play poker, I also follow the news, forums etc.

The crypto-rooms that allow you to play poker are not even fit to tie the main fiat sites' shoelaces. Nor in software, traffic or anything else.

That's why I say that I dream of the day when Pokerstars will implement bitcoin deposit/withdrawal, because on that day many things will have changed, and we'll be very close to mass adoption.

Pokestars accepting bitcoin for poker is like Amazon accepting direct bitcoin payments in retail.

[kryptqnick]

Bitcoin has always been the dominant payment method in gambling world. Gambling is the only major sector which adopted bitcoin from the very inception of this cryptocurrency because of the benefits it can provide in a sector like gambling!

While I agree that online gambling is definitely the biggest industry that uses cryptocurrencies and plays a major role providing a use case for them, I don't think the opposite is true that cryptos are dominant in online gambling. For instance, I found this data  on online gambling in the UK, and it claims that 17% of the population is people who gamble online (that's more than 11 million people in the UK alone, and I don't think the majority of them use Bitcoin). I've also learned the following :

The global market for online gambling reached around US$45.8 billion in 2017.

At the same time, this 2017 article says:

Bitcoin Gamblers Have Wagered $4.5 Billion in BTC Since 2014

It seems to me that the numbers just don't add up, and even though lots of gambling is done with cryptos, crypto gambling is not dominant in online gambling.

[sunsilk]

I've said, "about" which means that it could be in the process and it includes other industries and businesses.

We will never know if PS will adopt it soon. But as I've said with the condition of a demand being done by their customers, it is possible. Unforeseen things like this with WPN could also happen for them.

Yes, well. I've been playing poker for quite a few years now, mainly at Pokerstars and Pacific, although I've also played poker in other fiat rooms and I can tell you that there's no real demand to play with bitcoin in the major rooms these days. I don't just play poker, I also follow the news, forums etc.

The crypto-rooms that allow you to play poker are not even fit to tie the main fiat sites' shoelaces. Nor in software, traffic or anything else.

That's why I say that I dream of the day when Pokerstars will implement bitcoin deposit/withdrawal, because on that day many things will have changed, and we'll be very close to mass adoption.

Pokestars accepting bitcoin for poker is like Amazon accepting direct bitcoin payments in retail.

They don't actually have to have poker rooms specific for bitcoin players. They only have to give the option for the withdrawal for payouts in bitcoin, the same as WPN.

It doesn't look that it's happening today but we don't actually know what's on their mind and stand towards bitcoin. Someday they will accept or won't really get a touch to bitcoin. That might be the scenario for them but who knows, they'll give a surprise someday announcing it.