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European Gaming Congress 2024

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Bitcoin Might Make the Professional Gambler Rich

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Bitcoin Might Make the Professional Gambler Rich

Bitcoin is currently very popular as an investment tool, yet it has been devised as a decentralised digital currency to pay for goods and services.

 

An industry that has rapidly increased its trade in bitcoin, is the online gambling sector, a relatively young and ever-expanding industry, currently worth no less than $46 billion globally.

Online casinos have been fulfilling the increasing demand for bitcoin as a payment method by offering players the opportunity to make deposits and withdrawals in the digital currency. As a result, professional gamblers are increasingly viewing the digital currency as an alternative method to generate income and build wealth.

ONLINE CASINOS AND PROFESSIONAL GAMBLERS; A STRAINED AFFAIR

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Although many casino players, whether online or at a land-based casino, play for the thrill of winning, most play for entertainment purposes only and don’t expect to generate income on a regular basis. A small and rather invisible group of players consider themselves professional gamblers, as their aim is to make money by placing bets. With the rise of online gambling and new online casinos hitting the scene on a monthly basis, many professional players have taken their income generation online. Most are making money by playing online poker, live casino games, progressive jackpots of slot games and/ or by placing online sports bets. As more and more online casinos offer bitcoin as a payment option, professional online casino players have started to use the digital currency as part of their money- making strategies. It is not that most online casinos are keen on professional gamblers, especially those who are doing well, as they tend to cost the casino money. Professional players are therefore aiming to keep a low profile, also because some players want to avoid paying tax, as any winnings above a certain amount are taxable in most countries, that allow online gambling. Placing wagers in bitcoin can help players to remain under the radar. 

THE ADVANTAGES OF GAMBLING WITH BITCOIN

Placing bets in bitcoin has several other advantages for online casino players in general and professional gamblers in particular. Paying with bitcoins is anonymous and at several bitcoin casinos, all you need for your registration is an email address, which is, as mentioned earlier, ideal for players, who would like to keep a low profile. Pay-outs in bitcoin are often processed instantly or take a maximum of 12 hours, unlike other payment methods, for which processing times can take up days, making bitcoin withdrawals considerably faster than other payment methods. Besides these advantages, the digital currency has gained tremendously in value in the last year. Especially players, who have had their bitcoin wallet for a while, receive considerably more casino credits for their bitcoin money compared to only a few weeks ago and their income is increasing, even when they’re not playing.

BITCOIN: ADVOCATES AND CRITICS

It is well known that bitcoin and digital currencies in general have as much advocates as critics. For advocates bitcoin is the payment method for a new and freer economy, without the need for a central bank or banks as middlemen. Critics argue that the currency is not sustainable and a promotor of illegal trade and activity. A recent argument raised against bitcoin in the Financial Times, is that its environmental costs are significant, however, you could argue that conventional fiat currencies have their costs too.

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Despite arguments against digital currencies, gaming authorities have acknowledged the demand for bitcoin and the UK Gambling Commission allows licensees to offer the digital currency as a payment option. As bitcoin and other digital currencies have been linked to criminal activity, UK Gambling Commission licensees need to have procedures in place, that prevent money laundering activity via their online casino. This fear of links between bitcoin use and criminal activity might be unfounded, however, as a recent EU study has concluded that criminals and terrorist organisations hardly use bitcoin or other digital currencies.

The objection against digital currencies and bitcoin in particular, might lie in that institutions of power within the current system, like banks, are significantly losing power with the rise of decentralised technologies. While this power struggle is taking place and institutions are finding their own way to deal with the phenomenon of decentralised, digital currencies, professional online gamblers attempt to make the best of what bitcoin has to offer and with increasing success.

 

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The post Bitcoin Might Make the Professional Gambler Rich appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.

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Source: EEGaming.

Amusnet

Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas

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Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.

“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.

Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.

Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.

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Canada

SoftGamings Doubles Down on Global Expansion by Introducing Tobique Gaming Licence

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SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.

Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.

The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.

SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.

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Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.

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4Play

Fast Track Enters into Partnership with 4Play

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Fast Track, the leading player engagement platform built specifically for the iGaming industry, has partnered with 4Play, a dynamic and innovative gaming operator renowned for its exceptional player experiences in both casino and sports betting.

Launched in 2023, 4Play has rapidly gained recognition in the industry, primarily targeting the burgeoning Brazilian market. With a commitment to delivering unparalleled entertainment, 4Play offers its players a seamless experience in Portuguese, featuring popular gaming verticals such as casino and sports betting.

4Play’s decision to integrate Fast Track CRM comes as part of its strategic initiative to bolster player retention and streamline operations through advanced automation. Fast Track’s robust platform will enable 4Play to automate complex player journeys, ensuring each interaction is personalised and timely.

“We are excited to partner with Fast Track to elevate our player engagement strategies. Their innovative approach to CRM and their commitment to creating individualised player experiences align perfectly with our vision for 4Play. We look forward to leveraging their platform to enhance our player retention and operational efficiency,” Mateus Ihering, Chief Operating Officer of 4Play, said.

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Fast Track’s CRM platform, recognised for its real-time data capabilities and comprehensive automation suite, will support 4Play in achieving its business goals. By automating player communications and optimising the registration journey, 4Play aims to significantly increase its number of depositors while maintaining a high level of engagement among its 148,000 monthly active users.

Simon Lidzén, Co-Founder and CEO of Fast Track, said: “We are delighted to welcome 4Play into the Fast Track family. Their innovative spirit and dedication to providing top-tier player experiences make them an ideal partner. Together, we will set new standards in player engagement and retention, ensuring that 4Play continues to thrive in the competitive iGaming landscape.”

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