Will Crypto Poker Rooms and Casinos succeed in 20205 months ago
Cryptocurrencies made a grand entrance into the world of online gambling quite a while ago now. Particularly when it comes to online poker.
They were paraded as the possible saviour to our game by means of providing a method of circumventing regulation when it comes to financial transactions to online gambling companies. It hasn’t really worked out that way though, but why not?
The Afterglow of Black Friday
When Black Friday hit in April 2011 people thought it might actually kill off the industry in a short space of time. Even the more optimistic amongst knew it would change the face of online poker forever, never to return to its previous state as a true worldwide player pool.
The reason for Black Friday happening was the flagrant breach of US law that dictated US-based players and whichever poker room they played at could not exchange money for the purpose of gambling.
It is well-known that PokerStars, Full Tilt Poker, and Ultimate Bet ignored this by crafty means. Eventually people were prosecuted and the fear of God was put into any online gambling exec that they might try this on again.
We know that there are once again credible sites, such as Americas Card Room, that continue
Following this event, time went by and Bitcoin was steadily increasing in popularity. More and more new cryptocurrencies were appearing on the market all of the time. Poker players were starting to ask just why can we not use them to build another worldwide player pool.
It would appear that the market leaders such as PokerStars, and partypoker want nothing more to do with working in legal grey areas.
The Story Isn’t Over Yet
Even though the biggest online poker companies don’t want anything to do with cryptocurrencies yet, the trend is definitely shifting.
New companies, such as Bitpunter, have arrived in the marketplace eager to show the world that crypto poker and crypto casino are still alive and kicking. In fact, if you check out any new site you will see that they offer deposits, often with generous first time deposit bonuses.
Americas CardRoom - ACR - now process more than 50% of their transactions using cryptocurrency. This statistic alone shows that cryptocurrencies are still helping to keep the online poker and online casino industries healthy.
Bitpunter - The Innovative Approach
Bitpunter is an online poker room and casino. On the face of it they look like many others, but there are some interesting differences.
The new, innovative approach they have come up with has the potential to cause a paradigm shift in the whole industry.
The system is called transmining, whereby customers risk money and receive in return Bitpunter's tokens in accordance with their gaming turnover.
The model pays out 80% of the websites net gaming revenue to token holders. This is absolutely revolutionary, and promises to reshape the e-gaming industry.
You might be asking yourself just where to look when taking your first steps into buying and selling cryptocurrencies. The answer is simple if you are an online poker player - Bitcoin and Ethereum are by far the most popular cryptocurrencies used to online gambling.
Will Crypto Poker Rooms and Casinos Boom?
The evidence is stacking up that 2020 could be the year that we finally see crypto poker rooms and casinos start to change how funds are moved throughout the industry.
There are just too many companies that are offering to process transactions using cryptocurrencies for this to be ignored any longer. Bitpunter is the first ever fully licensed online poker room and casino. Soon others will follow and the momentum will build up.
In our opinion, the future looks bright for cryptocurrency gambling.
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