Legal Online Gambling is Next Major Bitcoin Market
The international online gambling industry is an estimated $30bn market, and growing. More importantly for Bitcoin, it's a global market that depends on fast, irreversible payments. Just like a ordinary casino chip in any land-based casino, digital bitcoin provides privacy, immediacy, and payment finality. Unlike most typical consumer purchases (where returns and chargebacks are usually legitimate), a wager is a one-way transaction. Of course, you may be dissatisfied with the outcome, but that does not justify a reimbursement. The online gambling industry has struggled with this fact for....
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Although gambling is a big industry, online gambling is still not as significant as it could be. Its proportion of the gambling industry currently hovers around 10%. However, over the last few years, online gambling have emerged as a popular choice among people. According to H2 Gambling Capital, the online gambling market in terms of gross winnings, has a global market value of €21.73bn ($28.54bn) in 2012. Interestingly, since the emergence of Bitcoin, the total value of online gambling is expected to increase multifold. It’s also true that gambling with Bitcoin only accounts for a tiny....
Though gambling is big business, online gambling is still not as significant as it could be. Its proportion hovers around 10% currently. However, over the last a couple of years, online gambling have emerged as a popular choice among people – this has been approved as well by research company H2 Gambling Capital. According to the organization, the online gambling market in terms of gross winnings, put the global market value at €21.73bn ($28.54bn) in 2012. Interestingly, since the emergence of Bitcoin, the total value of online gambling is expected to increase multifold. It’s also true....
PayPal has recently announced their return to the U. S. online gambling scene, as the company will once again be facilitating deposits and withdrawals by these websites. Is this a move to reclaim the market share they lost to bitcoin exchanges? Recall that PayPal prohibited the use of its online payments platform on U. S. gambling websites back in 2003 when it formed a merger with eBay. Now that the company has split operations with the online retailer, it is ramping up its focus on the payments industry and may be seeking to regain revenues in the online gambling sector. Using Bitcoin in....
From the simple Bitcoin gambling site to the magnificent and complex world of Dragon’s Tale, the online gambling industry is re-inventing itself with the help of the digital currency technology. The Online Gambling Industry has always been in constant development. But now with the advent of digital currency, a new revolution is bound to shake the boundaries of every online business. The Bitcoin gambling Industry is growing faster than ever before. From what before was considered to be a tool for illegal activities, Bitcoin is today on the verge of completely disrupting the online space,....
When it comes to online gambling versus traditional bricks-and-mortar casinos, the internet has the upper hand. Online casinos don't have to hire a bunch of employees, build fancy edifices or wow gamblers with marketing tactics to bring them in. On the other hand, internet gambling in the United States operates in a grey legal area. Online casino operators get away with it by hosting their sites outside of US borders in places like Costa Rica. It's a profitable business to be in: according to the American Gaming Association, online gaming is a $4-6 billion market. That's precisely why....