With Bitcoin emerging as a popular form of payment for online gambling over the last two years, Euro 2016 has the potential to bring the system to the iGaming mainstream.
Among old and new bettors alike, players of all ages will experience a revolutionary form of betting via their mobile devices which is expected to harness the power and convenience of the cryptocurrency Bitcoin as well.
The merging of technology and cryptocurrency may be no more effectively visible than in the Bitcoin exclusive sportsbook SportsBet.io that has been opened just ahead of Euro 2016 to offer betting markets on the tournament. This platform is expected to draw plenty of bets, and looks to be a true showcase for the advantages of Bitcoin as a cryptocurrency which will likely set new highs for betting levels using Bitcoin as the medium of exchange.
The availability of Bitcoin as a form of payment has also given rise to Bitcoin-exclusive iGaming sites such as Dragon´s Tale which offer innovations and bonuses based on the unique characteristics of the cryptocurrency. While Dragon´s Tales game titles remain familiar to iGamers, the designs are completely distinct to the site, increasing the association between the game brand and the Bitcoin cryptocurrency.
Bitcoin as an iGaming cryptocurrency emerges from a greater market. Since the first Bitcoin transaction took place in 2010, when a Pizza was purchased for 10.000 Bitcoins, many industries embraced the vast capabilities they saw in Bitcoin as an online currency. From it´s inception, digital currency has been viewed by many as a tool that had the potential to revolutionize online payments, with the online casino industry taking the lead in adapting business models to the new capabilities afforded by Bitcoin cryptocurrency.
These features include decentralization, virtual anonymity, and being unconstrained in movement by the same regulations and rules that conventional currencies are bound by. The use of Bitcoins has given rise to what some see as a parallel economy.
Euro 2016 Opportunity
That parallel economy which could come to full fruition from the boost in betting activity offered by Euro 2016, a traditionally high betting period that will spike the use of this new currency in the iGaming industry.
Bitcoin technology has certainly brought its own momentum to the iGaming industry so far, with its most telling contribution to e-commerce being the elimination of the possibility for fraud. The fact is, digital currency is inextricably linked to its owner, as it is generated solely for the owner: the value is only transferable by the individual for whom it was created when he or she cashed in x amount of traditional (non-virtual) currency of equal value.
The Bitcoin Transformation
More than any other tool of technology, cryptocurrency is transforming iGaming into a trusted industry that will change the gambling landscape forever. A good Bitcoin showing in Euro 2016 could transform the global economic landscape accordingly.