Cryptocurrency and APM Drive the Future of iGaming at SBC Summit Barcelona DigitalPublished October 20, 2020 by Lee R
The keys to the future of iGaming were brought to light at SBC Barcelona-Digital.
The future of alternative payments and the growing popularity of Bitcoin turned out to be two of the hottest topics at the recently concluded SBC Summit Barcelona Digital.
SBC Barcelona Adaptation
The online version of the renowned Global Betting and Gaming Show SBC Summit Barcelona ran for three days, concluding last Friday.
A diverse range of topics was spread into four key categories: Sports betting; Casino and Gaming; Payments and Compliance; and Affiliate and Marketing.
With conference format spread across tasks and networking roundtable for each topics, the Asian Market Networking Roundtable and The Future of Alternative Payment Methods were reportedly the most captivating.
Asia and Bitcoin
Conference experts indicated that Bitcoin is the key new development to the shifting Asia landscape this year and in the coming years—with Bitcoin getting particularly popular in Japan.
With iGaming not yet legal in Japan, the use of Bitcoin may pave the way to regulation there.
Asia Expert Opinions
Kafe Rocks VP of EU and Asia Pacific Andrea Bellezza clarified that the “new kind of user” is younger and has saved Bitcoin from other businesses or joint ventures, and are now finding ways to spend it.
In India a similar movement is also taking place. According to iGaming & Betting Consultant Anutosh Chatterjee, there has been an uptick of interest in Bitcoin since the beginning of the COVID-19 pandemic, indicating that 65% of the India's 1.3 billion people are below the age of 35--as a demographic ardently seeking a regulated gambling market.
The other key topic at SBY Summit Barcelona Digital was alternative payments.
The End of Cards
As panel moderator, Pinnacle Global Head of Payment Solutions Isabelle Delisle established the first step in the Alternative Payment Method (APM) as anything that wasn’t credit cards, and advising that “APM is more crypto versus what it used to be.“
Delisle further asserted that fears about crypto in its infancy was overblown, and that crypto is much simpler than people believe.
Calls for Disruption
Trustly Gaming Director Vasilije Lekovic called for APM’s to be “methods that aren’t commonly used in the market.”
SBC Barcelona-Digital revealed that the foothold that cryptocurrency is a favored alternative payment fostering iGaming growth in key economic regions.