How Bitcoin can transform the online gambling market?
It is possible to say that Bitcoin is an ideal currency for online gambling. At this stage, the operators of gambling platforms in the network are only trying to size this phenomenon, which may soon become mass scale.
Huge potential of introduction of Bitcoin in gambling industry exists due to its specificity. For example, Bitcoin can be absolutely safety used to refill your current account in countries and cities where gambling is banned or heavily regulated by legislation.
A betting shop website BitcoinSportsbook.com, which uses Bitcoin, says that electronic money can make a real revolution in the gambling business.
Speaking about the benefits of this cryptocurrency, several key aspects can be distinguished. Firstly, the transactions carried out with Bitcoin are very cheap. Thus, sustainable business models with low commission are favorable to low cost of transactions, ensuring greater profits for entrepreneurs.
Secondly, it is a global coverage of Bitcoin for online gambling on the Internet.
Moreover, the transparency is important as well. Bitcoin provides maximum financial purity of transactions, making them available for inspection at blockchain.
Of course, this entire can not 100% guarantee the success of all operations where Bitcoin is used. Random number generators (that are used by Bitcoin casinos) can be distorted, or there is a risk that an owner of the gambling platform cheats its customers, etc.
Therefore, the online gambling industry is constantly working on improving the safety systems. For example, the trust solutions have already been developed in the framework of the concept "Bitcoin 2.0" under extension Counterparty (BetXCP.com and Xbet.io).
If you are interested in Bitcoin and the world of online gambling and want to learn how to make good money on the Internet using the "currency of the future", you should definitely visit the conference Bitcoin Conference Saint Petersburg, which will be held on December 4, 2014 in the conference hall of Ambassador Hotel (5-7 Rimsky Korsakov Ave.).
The conference will bring together the brightest representatives of the industry, well-known experts and gurus of cryptocurrency market, lawyers and foreign experts who will share their vision of cryptocurrency development in Russia and the world.