Bitcoin Hot With Chinese Gamblers, Bookies, Pay Per Heads

Ever since adding the anonymous digital currency Bitcoin, Pay Per Head service PayPerHeadAgents.com says its business has increased.  Nowhere is this more obvious than with the Chinese gambler.

It's all "about trading, about volatility, about making a profit -- buy low, sell high," said Bobby Lee, CEO of BTCChina, the world's largest Bitcoin exchange.

CNN interviewed Lee last week as part of a report on the Bitcoin phenomenon, which PayPerHeadAgent.com representative Federico Gomez says is only now beginning to take grip in the world of online gambling and Pay Per Head call centers.

“The industry as a whole was reluctant to offer Bitcoin,” he tells Gambling911.com.  “The first to do so reported 10 percent or more of their customers using the method as reported by Gambling911 so we were fast to integrate it once those numbers became evident.”

Gomez would not comment on the percentage of users who have embraced Bitcoin, only to say it is “very good”.

Much of that could be PayPerHeadAgent’s significant Chinese player base.  It is now considered the largest Pay Per Head for the Chinese and Chinese-American player base.

CNN noted that Bitcoin has caught on fast in China, most likely because it boasts the world's highest penetration of smartphones. Roughly 80 percent of Bitcoin volume is exchanged into and out of Chinese yuan, according to a report by Goldman Sachs.

Bitcoin has come under the watchful eye of Chinese Government officials, who say money laundering is a very real possibility due to the anonymity factor.

Still, Lee says Bitcoin "is real, it's simple, and it's here to stay -- crypto-currencies are here to stay.”

And it will continue to spread throughout the online gambling and Pay Per Head stratosphere, suggests Gomez.

“At first the mere mention of Bitcoin resulted in plenty of scoffs among operators,” he says.  “Today, and heading into the new Football season, it is viewed as a ‘must have’.”

- Aaron Goldstein, Gambling911.com