Funding Online Gambling Accounts with Bitcoin

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As online gambling increases in popularity throughout the world, there’s always a possibility it will eventually come to the lands of India. With that in mind, it’s never too soon to discuss the new technologies that are serving as the driving force behind the growth of the online gambling industry.

It’s only been within the last five years that there has been significant movement in parts of Asia to open up access to both land-based and online casino gambling. The eventuality it will become available in all but he most conservative and religious countries is almost a certainty, though predicting when is difficult to do. For now, it’s clear that there’s a growing number of online gamblers who are looking for information like the NO.1 slots machines portal for gamblers – slots judge, which helps to make locating the best online gambling sites a little easier.

How Cryptocurrency Will Help the Online Gambling Industry Grow

One of the biggest challenges the online gambling industry faces is finding convenient ways for gamblers to fund their online gambling accounts. Other than credit/debit cards, there’s not a lot of funding options that are common throughout the world. Since credit/debit card aren’t always the most convenient or efficient funding options, there has been a movement to find something that could work on a universal level.

It’s beginning to look like cryptocurrency might be the answer. In major countries like the US, England, China, Japan and even India, cryptocurrencies are becoming a widely accepted form of currency exchange. This is not something that has been lost on online gambling site operators and software developers.

Currently, approximately 10% of all online gambling sites operating in the UK are accepting Bitcoin as a viable deposit/withdrawal option. This might not sound very impressive, but experts are expecting that number to grow significantly over the next two years. By some estimates, it could be as high as 50% of all gambling sites operating in not only the UK but perhaps throughout other parts of the world. If this comes to fruition, gamblers all over the world will find it easier to find online gambling sites that accept Bitcoin, which stands to benefit gamblers in a variety of ways.

How Bitcoin Benefits Online Gamblers

Aside from convenience and growing universal acceptance, there are other benefits online gambling enthusiasts can reap by using Bitcoin instead of more conventual funding options.

First and foremost, the anonymity cryptocurrency affords its users has great value. For a variety of reasons, anonymity is a big deal for gamblers. With all transactions recorded on a decentralized blockchain and only tied to a transaction reference number, its likely online gamblers could eventually open accounts and gamble without disclosing anything more than a username.

As for other benefits, cryptocurrency transactions are proving to be fast, efficient and cost-effective. All three of these traits play very well for gamblers who simply want to make their deposits and withdrawals without having to go through layers of transaction approvals while paying high transaction fees for the privilege of doing so.