Bitcoin in virtual gambling: a perfect payment solution?

Since the very moment the Internet entered our lives, all the advanced technologies it has been adopting have first been tested by the virtual gambling.

These days, Internet gambling is heavily regulated in many countries all over the world, and it makes operators look for available solutions to circumvent the existing restrictions.

Bitcoin came into this world in 2009, and it didn’t take dozens online casinos too long to adopt it as one of the supported currencies for their customers. By now, BTC has been able to revolutionize the entire area of Internet casino gaming, with more and more Bitcoin-only gambling portals opening every month. Many may be thinking Bitcoin was created on purpose to serve the needs of the industry of online gambling, but, in actual fact, with its help, entrepreneurs have been able to introduce conceptual business models that were somewhat unthinkable before.

Today, there are several industry-leading Bitcoin gambling websites, like gambling portal and other top brands, which are real stars to steer by for many competitors, all thanks to their vast choice of games by world-renowned providers, smartly-designed and lucrative bonus system, the game-changing approach to customer service and satisfaction, and several other features turning them into genuinely unexcelled player magnets.

As we can see now, owing to its unparalleled set of advantages over traditional currencies, Bitcoin indeed seems to be the perfect payment solution for virtual gambling. The BTC system is decentralized, meaning there isn’t any central emitting or regulatory body in. This is also the reason why Bitcoin is not subject to any laws that fiat currencies in all countries are regulated by, which means it’s not money in traditional understanding yet you can still use it to make wagers and receive winnings in, and purchase goods and services with. Virtual casino gamers living in countries where online gambling for real money is anyhow restricted or forbidden, are definitely to find BTC payment hugely advantageous.
And yes, last but not least, it will cost both the operators and their customers nothing or almost nothing to conduct Bitcoin transactions: the commission fees are ridiculously small compared to exorbitant amounts charged by real-money casinos and betting portals. Other than that, all BTC transactions are automatically recorded in the blockchain, thus allowing for greater transparency and security for all parties.

It is obvious now BTC can find implementations in business areas other than gambling, as it is more than likely to be the best payment method you can get seeking to make instantaneous peer-to-peer fund transactions regardless of the country you (or other sender/receiver) are staying in.