Gambling Tech Giant IGT Patents Way to Fund Bets With Bitcoin

A gambling tech giant received the green light from the U.S. Patent and Trademark Office (USPTO) to start offering cryptocurrency payment options to their users. The company is known for manufacturing slot gambling machines. Gamblers Could Also Transfer Crypto From Their Wallets to the Casino’s Ones Per records from the USPTO, International Game Technology (IGT) received the patent that allows gamblers to pay their pets via bitcoin (BTC), ethereum (ETH), and bitcoin cash (BCH). As described in the patent’s filings, IGT’s system will consist of the following: A system that....

What are gambling transactions doing to the block chain? According to Jeremy Liew, a partner at Lightspeed Venture Partners, a large percentage of bitcoin transactions are gambling-based. With a block chain now over 9Gb in size, and becoming increasingly tedious and difficult for new clients to download, that's becoming a problem. How are gambling-based transactions contributing? Liew points to the most recent available financial report from SatoshiDice, which is the most popular bitcoin gambling site. That site processed 5,222,994 bets in 426 days of operation (that's an average of 12,260....

Welcome to the CoinDesk Weekly Review 19th July 2013 - a regular look at the hottest, most controversial and thought-provoking events in the world of digital currency through the eyes of skepticism and wonder. Your host ... John Law. Gambling would be enormous fun, were it not for the fact that you will lose. You're free to think otherwise, but you don't get many mathematicians in William Hill. There is one exception to this otherwise golden rule, and that's if you're the bookie. Bookies make a lot of money from gambling, mostly by knowing more statistics than their punters do, but there....

Bitcoin gambling site SatoshiDice has recovered after being felled for several days by a DDoS attack. The site went down several days ago, and was inaccessible from the Internet. Erik Voorhees, who created the site and sold it for $11.5 million in July, no longer runs the site, but naturally still has insights into how it operates. DDoS attacks happen a lot to bitcoin gambling sites, he said. "They largely wasted their money," he said of the attackers, pointing out that the website isn't needed for the placing of bets. It simply provides information about bet statistics, and bitcoin....

Chinese companies are angling to overtake the United States in blockchain adoption. Recent figures published by Chinese media outlets show that companies in China have filed for over half of all global blockchain patents.According to a report titled “2020 Blockchain Industry Development”, Chinese companies have applied for 4,435 blockchain patents following Chinese president Xi Jinping’s endorsement of the industry. The study was jointly compiled by Tsinghua University, Peking University, and China Institute of Communications.During a committee session in October 2019, President Xi called....