The bitcoin and the whole blockchain technology is disrupting quite a few niches in all of the possible industries. However, the remarkable growth has been achieved in the one of the most competitive industries in the world – online gambling. The recent findings show us that within the last three years the total volume of bets amounted to over 4.5 billion USD.
Within the last year, around a half of the bitcoin transactions was dedicated to the gambling purposes. Considering the fact that during the year of 2016 there was a total of 45 billion USD worth of bitcoins sold, transferred or purchased, we do see some great growth in terms of the BTC volumes.
There are many reasons for modern gamblers to choose the bitcoin as their preferred method of topping up, cashing out and betting. One of the most probable ones is the privacy. We live in the age of the information technology, and we aren’t aware of how many tools are used to track our activities. However, once a certain financial institution is able to find out that the person likes to gamble, it may have some irrevocable consequences on his mortgage and other financial products. The bitcoin get a major opportunity here, as it is nearly impossible to connect somebody’s bitcoin wallet address to his ID number.
Next to this, the number of the online bitcoin casinos have been increasing ever since the cryptocurrency got established. Also, some gambling regulators, like UKGC, have announced that they are eager to provide licenses to the bitcoin casinos. All of these factors majorly contribute towards the bitcoin becoming the major currency for online gambling.