Is there a payment processor that works with bitcoin casinos?

[FastSlots]

Hi,

I am wondering if there is a bitcoin payment processor (basically a company like bitpay) that provides services to bitcoin casinos. I've looked at the terms of bitpay, gocoin, and coin.co and they all explicitly prohibit gambling sites from using their service. Does anyone know of a provider that works with bitcoin casinos?

Thanks,
Henry

[FastSlots]

Hi RHavar,

Vault looks really interesting, will definitely check back to see how it's going. However I'd need a processor that is ready to use right now. Does anyone know a service that is ready to go?

[Wendigo]

I have seen people complaining about Coinbase shutting down accounts after receiving money from gambling sites.

[FastSlots]

I was in touch with coinbase and they told me that they would not work with a bitcoin gambling site.

The one service that I found so far that explicitly accepts gambling sites is https://www.bitcoinpaygate.com. However they are quite expensive (for example $9 per month + 2% fees) and I'm not sure they're worth the money.

[a1choi]

Hi RHavar,

Vault looks really interesting, will definitely check back to see how it's going. However I'd need a processor that is ready to use right now. Does anyone know a service that is ready to go?

What are the exact features you need? You might be able to get by using blockchain.info's API

Vault seems interesting.  Any ideas on the fees etc? or is this totally opensourced/free?

[elm]

............................
For obvious reasons, we're not going to support any of the fiat features that normal payment processors offer, it's pure bitcoins. =)

@RHavar  what does it mean pure bitcoins? how about some player wants to play and has no bitcoins? will and can Vault handle this ?

[FastSlots]

What are the exact features you need? You might be able to get by using blockchain.info's API

Yeah, I'm probably going to use the blockchain.info api for now.

I really like your "bankroll as a service" idea. I think that unbundling bitcoin casinos is the way forwards. Right now many operators do everything (game dev, banking, security, marketing) themselves. Would be rad if people would specialize on the components bc that could improve the overall customer experience, and at the same time make it easier to build a bitcoin casino.

[a1choi]

I really like your "bankroll as a service" idea. I think that unbundling bitcoin casinos is the way forwards. Right now many operators do everything (game dev, banking, security, marketing) themselves. Would be rad if people would specialize on the components bc that could improve the overall customer experience, and at the same time make it easier to build a bitcoin casino.

Unbundling is definitely one way this industry can evolve.  Imagine if we could pool all the investments together across any of the sites that are willing to partner up..

The only thing with Vault is how do you trust your partner operator to be "provably fair to investors"?

[caga]

This is actually a project that we (the people behind moneypot.com) are working on! The code name of the project is "Vault" and development is happening on github. We're about 2-4 weeks away from a product that you will be able to actually test.

For obvious reasons, we're not going to support any of the fiat features that normal payment processors offer, it's pure bitcoins. =)

That will be really nice. Looking forward to it. We definitely need something like it.

[sherbyspark]

I think we definitely need something like this. Looking forward to Vault being released.

[a1choi]

seems like the Vault repo went to private.  Any updates?