{"id":1421,"date":"2024-12-09T14:32:20","date_gmt":"2024-12-09T15:32:20","guid":{"rendered":"https:\/\/extraniceshirts.org\/?p=1421"},"modified":"2024-12-23T13:03:55","modified_gmt":"2024-12-23T13:03:55","slug":"what-does-bitcoin-surpassing-100000-mean-for-the-online-gambling-space","status":"publish","type":"post","link":"https:\/\/extraniceshirts.org\/index.php\/2024\/12\/09\/what-does-bitcoin-surpassing-100000-mean-for-the-online-gambling-space\/","title":{"rendered":"What Does Bitcoin Surpassing $100,000 Mean for the Online Gambling Space?"},"content":{"rendered":"
Bitcoin\u2019s price surpassed $100,000 for the first time on December 5, with cryptocurrency enthusiasts hailing it as confirmation of the sector\u2019s long-term viability. The current bull run is once again igniting the mainstream public’s imagination.<\/p>\n
While similar hype was prominent in the past before subsequent bear markets, many people believe this time is different. Financial powerhouses like JPMorgan Chase and Morgan Stanley are investing heavily in Bitcoin just a few years after calling the sector a fad.<\/p>\n
With Bitcoin hitting the $100,000 milestone, we looked at the impact this might have on the online gambling sector.<\/p>\n
While cryptocurrency-focused gambling sites are a key part of the sector these days, many traditional platforms still don\u2019t support any tokens. You won\u2019t find UK Gambling Commission-licensed sites offering Bitcoin.<\/p>\n
\nseems inevitable that these traditional sites will start accepting this form of payment<\/p>\n<\/blockquote>\n
With more and more people turning to crypto gambling, it seems inevitable that these traditional sites will start accepting this form of payment. If this does happen, strict rules will likely govern operators to ensure they remain compliant.<\/p>\n
Some cryptocurrency gambling sites allow users to bypass Know Your Customer (KYC) requirements and play anonymously. This won\u2019t be the case for strictly regulated platforms, where KYC checks are going to be more important than ever.<\/p>\n
Growing confidence in cryptocurrency gambling sites<\/h2>\n
Many people are skeptical about using offshore gambling sites that solely support cryptocurrency payments. Their lack of knowledge about the sector is a key reason, with people preferring to use more conservative payment options like debit cards at tightly regulated platforms.<\/p>\n
As more people become comfortable with using cryptocurrencies, more will likely look at these offshore alternatives. Advantages are obvious, such as bigger casino game libraries, larger transaction limits, and more lucrative bonuses.<\/p>\n
Downsides still exist, whether it\u2019s the lack of consumer protection or limited oversight, which is concerning if things go pear-shaped for gamblers.<\/div>\n