The online poker industry was among the first sectors of the economy to leverage the benefits of Bitcoin. From as early back as 2012, the number of online Bitcoin poker sites and users has been steadily increasing, signalling a rise in demand. Indeed, statistics show that during the period between 2014 and 2017, approximately $4.5 billion worth of Bitcoins were wagered across various online casinos. Furthermore, recent estimates indicate that 60% of all cryptocurrency transactions are associated with betting, casino and poker sites.
Why Bitcoin is the Future of Online Poker
Notably, the trend is not showing any signs of slowing down. If anything, the rising popularity is a clear indication that Bitcoin is the future of online poker. There are a number of fundamental factors contributing to the popularity of Bitcoin in online poker. These include:
1. Lower Fees
Outrageous fees are among the key points of frustration for poker players who rely on traditional financial systems for payments processing. However, sites that use cryptocurrencies charge minimal fees or none at all.
Online poker players who use crypto do not have to reveal any personal information since no identification details are required for cash deposits or withdrawals.
3. Fast Transaction Processing
Making deposits and withdrawals using Bitcoin takes a considerably shorter time than the use of fiat currencies. Consequently, players do not have to wait for days on end to get their winnings.
4. Circumventing Regulatory Challenges
In some countries, strict policies limit players' access to online poker. In such cases, the use of digital currencies allows for participation thanks to their decentralization and anonymity.
Bitcoin and Online Poker - A Match Made in Heaven
Considering these and many other benefits associated with Bitcoin poker, it is evident that the trend is here to stay. According to the indicators, the use of digital currencies in the sector will keep on gaining traction as cryptocurrencies get wider adoption. If the past is anything to go by, there will come a time when Bitcoin will become the standard currency for playing online poker.
Recent Bitcoin Poker Game Reports
16th January 2019 17:56
Online poker match report for Sydney from Wednesday which saw nikolas-bet take the pot of 5,000.00 rupees on a 10 table exclusive for Sydney.
28th April 2019 14:43
Online poker match report for Cambodia from Sunday which saw jess16300 take the pot of 750.00 rupees on a 10 table for players from Cambodia.
19th January 2019 17:33
Poker report on the match up from Saturday between natkavladka, hussain, christineewing, roy-hsv, bigbrady, susypries, illrivayou, jakekec, janek.f, edenvera, for the prize pot of 10000 rupees.
20th January 2019 04:19
Round up report for the sit and go 10 player challenge from Sunday 20th January which saw sabrinaconti win the prize pot of 25,000.00.