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Can Bitcoin be the Perfect Tool for Online Gambling?

Avatar Guest Author 4 years ago

Since the beginning of the Internet, the gambling industry has always been an adopter of all new online technologies that have been coming around. However, for some time now, the online gambling industry has been dealing with heavy regulatory impositions all over the world and many companies tried to find out new ways of going pass those restrictions.

It was in 2009, that Bitcoin was introduced to the world and the gambling Industry rapidly adopts this new currency. Bitcoin came to revolutionise the gambling industry, and since 2010, we start to see new gambling sites being launched that only accepted this new currency.

Bitcoin came to give a new momentum to the gambling Industry, and I might say that it even led companies to implement innovations and develop new business models.

One of these innovative gambling sites launched back in 2012 was Dragon’s Tale. This was a completely original gambling site. Dragon’s Tale was one of the first online Bitcoin Casinos to be launched, and this was no ordinary gambling site. Dragon’s Tale was to first to introduce a new gambling style: an online massively multiplayer casino role play game.

Because of its inherent characteristics and its decentralised nature Bitcoin has become very appealing to the gambling industry.  There are all sorts of aspects that we could mention that confers Bitcoin its ingenious utility to the gambling industry. Besides all the innovation that Bitcoin brought to the gambling industry, its decentralised nature also came as a saviour to face the increasing government restrictions all over the world.  Since governments everywhere have been imposing a lot of regulations on gambling and online casinos, Bitcoin became the perfect workaround to avoid these restrictions. Anyone living in a country where online gambling is heavily regulated can easily gamble with Bitcoin.

Bitcoin transactions are also very cheap. So, Casinos can lower their commissions and still get the same incentive. Since anyone can verify all the transactions in the Blockchain it allows greater financial transparency making it more secure using Bitcoin to gamble.

Bitcoin is the currency of the internet; it is perfectly aligned to support online based businesses and facilitates international transactions. Bitcoin has in fact, the power to disrupt the online gambling space.

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