Bitcoin Virtual Currency Use on the Rise for Online Gambling

Published Monday, September 03, 2012 - Online-Casinos.com

Currency for online gambling and transactions for the activity is a choice that players have to make daily. America and other countries trying to prohibit online gambling have made the banks the police and banned any transactions that have anything to do with online wagering. Alternatives have surfaced over the past few years and are still making headway in the internet betting environment.

Bitcoins are a virtual currency that players are turning to as more traditional financial institutions become more difficult to negotiate. The internet is becoming increasingly popular for gamblers but the issues remain with payments and deposits falling into legal mine fields that players are attempting to avoid at all costs. Bitcoin currency is gaining in popularity in various situations where consumers want to be independent from the banking system.

Bitcoin is operated by a mathematical computer driven algorithm and doesn’t have any real money backing per say. Some critics claim that bitcoin currency is risky business but there are others that think this is a good idea. One online casino that does all of its transacting in bitcoin virtual currency is bitZino.com which released its blackjack only web offering recently and has announced it will also offer roulette after it expanded to video poker a short while ago.

Owner and lead developer Larry Taad commented that “multi-player games will be offered in the future.” bitZino is not the only bitcoin casino or gambling web site to offer the virtual money. Other operators are offering bitcoin transactions along with tradition money processing, these include dedicated poker sites such as StrikeSapphire.com and SealsWithClubs.eu. There are also sports betting sites like BtcSportsBet.com that offer this unattached currency.

Many of those offering the bitcoin currency require users to spend less time and efforts registering than more traditional methods. Basically there’s less need for operators to collect so much personal information from the player. This has critics saying there is a better chance of underage players finding access to the gambling web sites. Many think the bitcoin currency is the way of the future and some say it will soon become a thing of the past.

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