Inside the Briefcase

FICO Scales with Oracle Cloud

FICO Scales with Oracle Cloud

Doug Clare, Vice President at FICO, describes how Oracle...

Is Your Enterprise IT the Best It Can Be?

Is Your Enterprise IT the Best It Can Be?

Enterprise IT is a driver of the global economy....

The IoT Imperative for Consumer Industries

The IoT Imperative for Consumer Industries

This IDC white paper examines current and future...

How to align your visual brand guidelines and create consistently on-brand content

How to align your visual brand guidelines and create consistently on-brand content

In this ebook, we’ll explore the various themes leading...

Your B2B Content Strategy in 2017: How To Think Like A Movie Studio + 6 Other Tactics

Your B2B Content Strategy in 2017: How To Think Like A Movie Studio + 6 Other Tactics

Jon Lombardo, Creative Lead, LinkedIn, reveals in this presentation...

Is Bitcoin Changing the Online Gaming Industry?

February 6, 2018 No Comments

Featured articled by Tony Samboras, Independent Technology Author

Over the 20 or so years since its inception, online gambling has seen tremendous growth. In the early years, the industry faced challenges related to the legalization of online gambling in conservative countries. Industry leaders faced this challenge head-on by allowing themselves to become beholden to regulatory bodies, whose job it has been to make sure providers were playing by the rules.

With those challenges behind them, there was a marked increase in customers. The idea that someone was looking out for their best interest made online gamblers comfortable enough to take chances. Now, the industry had to find ways to distribute its products. Up until about 10 years ago, online gamblers were chained to their laptops and PCs. Through the use of downloaded software, games of chance became available. However, the process was cumbersome and not ideally suited for the masses.

That led to the advent of mobile gambling. By providing gaming resources through a mobile platform, gamblers were given the opportunity to gamble on the go. The convenience of being able to play a few hands of real-action Blackjack while waiting for the doctor had great appeal. There were initial compatibility issues, but the industry’s software developers persevered, and now online casinos and sports books are available 24/7 from almost anywhere in the world where there’s a viable cell phone connection available. If players want to enjoy live casino dealers at UniBet, they can.

Still, the industry wasn’t able to tap into the heart of the market. There was one more hurdle that needed to be cleared. Depending on where a customer lives, there are restrictions related to banking. Some large countries, US included, don’t allow credit card companies and wire transfer providers to send funds to online gambling concerns. This created two problems for the industry. First, there has always been a healthy body of potential online gamblers who refuse to provide personal information, much less banking information. It’s always been a deterrent. Second, why should a customer trust an online gambling provider if their government doesn’t? Enter Bitcoin.

The crypto-currency revolution is in full bloom with Bitcoin leading the way. A great deal of the appeal of crypto-currencies lies within the block-chain technology that supports the distribution of coins. Block-chain allows for the keeping of records in a cloud of sorts. The system is owned and run by the people who chose to participate. It is decentralized with no governing body. Better yet, Bitcoin allows its owners to transfer real dollar value with complete anonymity. Let that sink in for a moment.

If an online gambler can open an account under any name, fund the account without providing any identity documentation, gamble and then withdrawal winnings without providing personal information, what’s not to like? This is the break online gambling providers have been waiting for since the beginning.

To be honest, crypto-currencies, especially industry leading Bitcoin, are still very volatile from a valuation perspective. This is to be expected while government agencies all around the world try to come to grips with new currencies that could replace its own currency. When the smoke clears, there’s a reasonable chance Bitcoin could become a widely accepted form of payment. For the gambling industry, it’s a good bet that new customers will emerge from the shadows, knowing they have identity protection and the ability to easily move funds without anyone’s control. That’s how you change online gambling.

 

About the Author

This article was written by sports devotee Tony Samboras. As a noteworthy fan of football Tony is persistently taking after the latest developments that happen around his most cherished events. Tony’s other work includes contributing his knowledge to sports betting, Technology, and business trend.

Featured Articles

Leave a Reply

(required)

(required)


ADVERTISEMENT

IBC 2017

ITBriefcase Comparison Report