Emerging from the darkness and issues that brought upon scam complaints, illegal purchases, and trustworthy payments, Bitcoin makes its way to becoming one of the most popular mediums used in iGaming.
This year’s ICE Totally Gaming show expresses how the cryptocurrency is embraced by both online betting enthusiasts and operators as the exhibition floor sheds light on the relationship between online gaming and cryptocurrency payments. A large portion of the convention that expects nearly 30,000 visitors will have 4,000 sq.m section dedicated to payment solutions. Of course, among the string of exhibitors will be five cryptocurrency gateway providers. This alone shows the amount of growth decentralized payments has shown in such a short amount of time.
Meanwhile, a dozen more exhibitors present products designed to work with iGaming payments with the aid of blockchain currencies. This includes Bitcoin and other up-and-coming digital payments. Combining this with the fiat and Bitcoin casino software and platform providers present makes the conference all the more exciting.
Despite the considerable amount of price changes Bitcoin is going through, the market only shows signs of expanding. The Bitcoin gambling sphere is bigger than ever, and the 2018 ICE Totally Gaming conference proves just that.
Jez San, who originally founded PKR casino but is now under the name Fun Fair, is a unique gaming platform that utilizes the blockchain technology. San said that “it will be one of the themes of the show, without question. It is becoming known in the mass market and with its enhanced privacy and ability to work anywhere you have access to the internet, including across boundaries, it is a liberating way to commerce and payments.”
San is known for having raised over $26 million last year with his company’s initial coin offering. Now, he has built a casino that involves the blockchain, and this opens up more opportunities for other crypto payments to enter. While Bitcoin remains the number one option for most operators, other alternatives such as Bitcoin Cash and Litecoin come into view.
Another established personality in iGaming, Eric Benz, managing director of Cryptopay and founding director of the UK Digital Currency Association, said: “Bitcoin changed the way we define, use, and store money. People can now digitize their cash and Bitcoin has disrupted legacy payment methods, wire transfer, debit cards, PayPal, etc. The customer experience is frictionless and each transaction is also a settlement. Increasingly, merchants need to accept cryptocurrency payments because people want to make purchases this way. In addition to this, he also mentioned that “Those who adopt sooner stand to benefit most. This technology will be the new payment rails and financial plumbing of the future. Everyone should be paying attention to them.”
In all, Bitcoin cemented its position in iGaming enough to become a respected payment channel. Despite the erratic price changes recently, Bitcoin remains a viable choice for deposits and withdrawals thanks to its advantages, including anonymity, relatively low transaction fees, and an unrestricted gaming environment for all types of players. The revolutionizing payments displayed and emphasized on this year’s ICE only uplifts the presence of crypto payments in the industry.