Is a Bitcoin Online Gambling Boom on the Horizon?

Written by :

Aaron Goldstein

Published on :

2 September, 2014

CoinDesk.com featured an interesting piece on Tuesday suggesting that the bitcoin gambling boom is only getting started.

There are four reasons cited: The regulatory challenge that makes an anonymous digital currency like bitcoin look so appealing, a wide open market, the innovation associated with Web gambling and increased education.

Ivan Montik, CEO at SoftSwiss, provides online casino software for entrepreneurs, and its solutions support fiat and bitcoin gambling.

“We’ve got about 400 requests for the launch of a bitcoin casino in the last six months,” he told CoinDesk.com. “We constantly have three to five casinos in the set-up phase, and could have had more if we had more resources.”

CoinDesk.com calls the educational aspect in terms of bitcoin integration with online gambling probably “the most challenging”.

“There is still a high educational barrier to entry,” Cloudbet’s Leonardo Rossi told CoinDesk.com. “People can transact with Visa and MasterCard without understanding how the payment network works, but to transact with bitcoin there is still a requirement of technical knowledge.”

- Aaron Goldstein, Gambling911.com

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