With the advent of Internet and technology penetration within the global community, online gambling has become a multi-billion dollar industry with daily transactions reaching well into the hundreds of billions of US dollars. Online gambling is nothing new, but the ability to conduct these transactions with anonymity and discretion has made it popular with the international gambling community. However, laws regarding gambling in many countries make it illegal to operate online casinos altogether.
To combat these laws and enforce compliance amongst its customers, most gambling websites rent out or purchase gambling licenses from authorized sources in different countries. When a player wins a game, the winning player should transfer funds from their winnings to an online casino’s bank account using a traditional financial service like a credit card. However, the traditional banking system requires the bank account holder to provide their banking information to the gaming license administrator which may result in further fines or even loss of banking privileges.
With the introduction of the world wide web and innovative software likebitpay, the possibility of anonymous electronic deposits and quick withdrawal of winnings has made online casino gambling all the more enjoyable and safe. Many experts in the field of finance predict that in the near future, most currencies will be convertible to the “bxt” currency which stands for Bitumen or Bitters. This will happen as the world wakes up to the incredible potential of this newer currency.
Just like gold and silver, Bitumen can be easily purchased or mined from the ground which is why it is becoming an increasingly popular form of payment for online gambling. Many successful gambling websites are already accepting Btc deposits which signals an amazing trend towards this new alternative form of gambling. Other advantages include a provably fair play environment where each player has the same odds of winning. The betting experience is no longer influenced by luck and there is no house edge.
There is also no risk associated with any investment, as the game is fully automated and does not require the intervention of a human. This makes the casino an ideal location for people who wish to try out the new technology for private purposes without the risk of losing money. Many traditional banks are already experimenting with the new technology and although some have yet to adopt it, others have already launched services that enable customers to use their real money currency in order to play online casino games.
One notable example is the London exchange, which has adapted its online deposit system to allow both BitUSD and Btc. In addition to being a provably fair system, it also allows players to convert their deposits into real money currency. This feature is particularly important for people living in countries that do not recognise BitUSD or Btc as their national currency. However, most major financial institutions are already integrating this method into their online casinos.
One of the reasons why BitUSD and Btc are preferable to traditional currencies is that it is easy to understand and use. Unlike credit cards, it is simple for players to withdraw their funds whenever they want. They can also convert their deposits into these two currencies if they so choose.