Bitcoin continues to disrupt the online gambling industry - CoinJournal

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Jan 17, 2017.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Today we came across an interesting article on by Kyle Torpey which gave a nice overview of how the online gambling and affiliate industry is being disrupted by bitcoin. If you haven't time to read the entire article then here are the key points....
    • It has gone largely unnoticed in the bitcoin community just how integrated crypto-currency has become in the sports betting, casino and poker world. Many traditional fiat sportsbooks and poker rooms like Americas Cardroom, 5Dimes and Bovada have added BTC as a cashier option in 2016.
    • Gambling Affiliate Programs have gone one step further by requiring their users to set-up a bitcoin wallet to receive payments. Major affiliate programs like the Winning Poker Network, Betting Partners and only pay their affiliates in bitcoin in 2017.
    • The founder of Bodog, Calvin Ayre, has made some pretty bullish predictions on how bitcoin will disrupt the entire gambling industry that we reported on in greater detail here.
    • Reputable gambling authorities like the UK Gambling Commission have begun to issue licenses to members who want to accept BTC as a deposit or withdrawal option.
    • There are many benefits to using bitcoin for affiliates. They receive their money faster, there are no transfer limits and they can also receive smaller amounts.
    • Some traditional affiliate programs are so eager for their affiliates to move from Neteller or Skrill to bitcoin that they are offering a 10% premium on payments.
    As you can see, 2016 was quite the year for bitcoin in the gambling industry and we expect the rate of adoption to increase significantly in 2017.
    Last edited: Feb 9, 2017
  2. SuckIt

    SuckIt Member

    This is an awesome article. I have to admit I was a bit sceptical that bitcoin would ever be used by mainstream people but after seeing how popular it has become at offshore bookmakers over the past years, I'm not so sure.
  3. 2damoon

    2damoon Member

    It's only a matter of time before every affiliate program makes the switch to bitcoin. once the lightening network is ready affiliate programs will flock to btc.
  4. Toast

    Toast Member

    I just wish bitcoin would solve its scaling problems but I think that is putting off many newbies. It can already be confusing enough setting up a wallet and buying bitcoin without the added stress of a congested network.
  5. NKOTB

    NKOTB Member

    online casinos that made their money by cheating their players must be upset about the new wave of provably fair casino games. i would never gamble at any casino that doesn't provide tools to interdependently verify the randomness of games.
  6. Freddy

    Freddy Member

    i'm glad the author didn't claim that ico's will disrupt online gambling. who in their right mind is going to purchase a separate ico token for every casino or sportsbook they want to use when bitcoin works on all of them.
  7. Humble Servant

    Humble Servant Active Member Staff Member

  8. Humble Servant

    Humble Servant Active Member Staff Member

  9. Fatboy

    Fatboy Member

    i'm not surprised that adoption is growing when countries like australia and the UK are putting more and more restrictions on online gambling operators.
  10. Humble Servant

    Humble Servant Active Member Staff Member

    You are right. Unfortunately, the Australian government has had some success in getting some cryptocurrency gambling sites to leave. For example, BetOnline poker withdrew from Australia but thankfully sites like Ignition Poker and Nitrogen Sports Poker still welcome aussies.
  11. uglymug

    uglymug Member

    I was sad to see CloudBet block players from the UK and America. What's the point in operating a crypto betting site if you are going to restrict gamblers from certain countries.
  12. EvilK

    EvilK Member

    Punters in the UK have tons of legal sports betting options so CloudBet withdrawing from England, Scotland and Wales is no big deal. However, the United States is one of the biggest markets for offshore gambling so I'm really surprised that they no longer accept USA gamblers. They should just move gambling jurisdictions to wherever Nitrogen, 5Dimes or BetOnline are operating from.

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