Bitcoin Payment Becomes Competitive Wedge in the Global Online Gaming Industry

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Ever wondered why innovative technology strives to be exploited in the adult entertainment and online gambling industries too? An exaggerated competitive market environment and the strong willingness to try anything in the quest for maximum traffic have made the online gambling industry an early adopter. Apparently, the advancements that have already been implemented in the field are sure to go on to become core features in more mainstream commercial applications in the near future.

From bold use of multimedia, advanced scripting languages, and most importantly, the even payment technologies, the online gambling have led the way and have started experiencing innovations. The new digital currency has completely taken over the old payments paradigm and there is no surprise that has gained enough traction in the online gaming world. Bitcoin payments have no wonder now become the most preferred competitive wedge in online gaming industry and for all good reasons. Bitcoin is picking up momentum in online gaming industry in not just some specific parts of the world, but throughout the globe.

In many sidebar conversations, the Bitcoin technology has gained significant appreciation for the additional unwanted scrutiny from gaming regulators and the fact that players aren’t actually demanding it for their obvious reasons. A great section of industry upstarts do not actually feel worried by any concerns as the player identity has already become a requirement so the money laundering can be avoided wherever possible. The market experts strongly believe that the Bitcoin enhances the privacy on the customer-facing side majorly thus allowing the players to play with a relaxed mood and mind.

Bitcoin has successfully become a way to radically differentiate from others and grow into the growing universe of bitcoin users. Bitcoin is the ideal digital casino chip of the next generation and has a plethora of advantages. Here is a sample of its extraordinary benefits to gamblers:

  • It is accepted in over 70+ countries which cannot be reached by Visa, MasterCard, and PayPal. It also benefits markets with comparatively weak banking penetration.
  • It does not favor any disallowed or blocked merchant category codes (MCCs) which are typically seen with the usual centralized payment networks.
  • Bitcoin’s public ledger is decentralized thus there are no chances of a politically-motivated payments embargo or confiscation.
  • Bitcoins payment eliminates the costly merchant charge backs and fraudulent transfer that often cheap people in numerous ways.
  • It is a great way to realize dramatic savings on processing fees that approach zero.

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Source by Anna Mon

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