Bitcoin and cryptocurrency technology have become an important payment method for many industries. This is because they provide a secure payment options across many online platforms which includes online casinos and sports betting. Therefore, it is not wonder that Bitcoin Online Gambling Trends for 2021 are on the rise.
According to gambling news, online sports betting website and casino platforms are some of the earliest user of Bitcoin. Furthermore, many iGaming platforms continue to use cryptocurrency transactions every year. In addition, the number of internet gambling websites that use Bitcoin is increasing exponentially.
Bitcoin Online Gambling Trends for 2021: Bitcoin Banking on the Rise
The recent trend in companies using Bitcoin and cryptocurrencies is on the rise this year. This is true not only in the gambling sector but also across a broad spectrum. For example, Mastercard made an announcement that they would start enabling Bitcoin transaction. In addition, other companies like PayPal are also offering Bitcoin in their banking platform.
In fact, this has led to the increase in price of Bitcoin rising to a high of $51,000 this week. Furthermore, part if its popularity is because it is a secure and anonymous form of payment for both parties. In its early days, blockchain also became an ideal form of payment for offshore online gambling companies. This is because it did not need any intermediary to transfer funds and the transactions were instantaneous.
After ten years, Bitcoin has proven that it is a resilient and reliable banking method. While it is difficult to estimate the number of gambling websites that use cryptocurrency it is definitively on the rise. The latest estimate is that 60% of gambling transactions are done thru Bitcoin and other cryptocurrencies.
Even though Bitcoin for gambling is on the rise, some online sportsbooks and casinos are still wary about using it. This is because it is anonymous which is interesting since it is what made it popular in the first place. The reason why is because gambling regulators want to keep track of banking transaction. Thus, they wany to be able to match the name of a live dealer casino account to a payment method.
However, casino forums believe that major gambling companies will soon start to accept Bitcoin. This is due to the increasing popularity and acceptance of the cryptocurrency. Some of the major online gambling websites that currently take cryptocurrencies include VOBET, BetOnline.ag and Bovada.