How BitPay is Changing Vegas and Gambling
Bitcoin is fast becoming one of the most popular methods to pay for goods and services online. The gambling industry in particular has seen the benefits of the cryptocurrency, as users now have access to decentralized banking option that allows for relatively anonymous transactions. The land-based gambling industry still has to catch up though. In Las Vegas Bitcoin users can currently pay for hotel reservations and other services at the establishment, but cannot gamble with Bitcoin directly.
That being said, many casinos have installed Bitcoin ATM’s, which allows users to convert their cryptocurrency into hard cash that they can then use at the casino to play pokies and all the other games on offer. The arrival of Bitcoin ATM’s heralded a new era in gambling. While the system is not perfect, it does offer players yet another way to use digital currency outside of the online space.
Using Bitcoin in Vegas
Anyone who has used a Bitcoin ATM will no doubt have a few words to say on the matter. There is more than one step involved in the process. And as well as being a lengthy process, it is also fairly confusing and not as user-friendly as one would hope. The exchange rate and service fee also hampers things. While it is a great initiative, there is certainly room for improvement.
The good news is that BitPay has come out with a practical alternative to Bitcoin ATM’s and a way for players to gamble with Bitcoin at all leading land-based casinos in Las Vegas. BitPay is one of the largest Bitcoin casino payment services providers in the world. You may have seen them in the news lately as they helped UK casino provider NetBet become the first Bitcoin casino to be licenced by the prestigious UK Gambling Commission.
The Launch of the BitPay App
BitPay’s latest development is the introduction of a BitPay casino Bitcoin app. First announced at the Money 20/20 event in Las Vegas, the app has been greatly anticipated by the gambling community. The revolutionary app is the first of its kind and will allow players to convert Bitcoin to dollars through the use of an integrated BitPay prepaid via debit card. While the app will continue to expand and will one day include all major card payment systems like MasterCard, for now, Visa has the market control being the only debit card Bitcoin users can use in the US.
Most Bitcoin payment services at the moment require users to maintain their Bitcoin digital currency in a third-party company-managed account. As we all know, these accounts are susceptible to security breaches and hacks. What the app does is give users full control over their funds at all times along with backup protocol, device-based private keys and multi-device authentication.
What has been hampering new users from taking up the Bitcoin charge is the fact that the process was far too complicated for the average gambler. The BitPay app aims to change all this with a user-friendly experience for Bitcoin novices while still maintaining a high degree of security.
A Faster, Friendlier Way to Pay with Bitcoin
So what is the fuss all about then? For land-based gamblers, the BitPay app offers a much faster and simpler way to play pokies and gamble with Bitcoin. If you want to gamble at a casino in Las Vegas with Bitcoin, all you have to do is transfer or convert your funds through to your prepaid Visa debit card. The process is instantaneous, which means you can stride confidently up to the cashier or machine, swipe your debit card and enjoy uninterrupted Bitcoin gambling.
In fact, you don’t have to be limited to using your card for land-based gambling. You can use your BitPay Visa debit card anywhere that accepts Visa both online and offline. For online gamblers who enjoy online pokies and other popular games, the BitPay prepaid debit card has extending benefits. Currently only a handful of casinos are offering direct Bitcoin payments. While more and more casinos are joining the cause every day, the ratio is still extremely small compared to the number of sites on the web.
If your favourite online casino has yet to join the Bitcoin revolution, you can still use Bitcoin to gamble online via the prepaid debit card. If the casino accepts debit card payments, which most do, then you can transfer and convert Bitcoin to your debit card and make secure casino deposits at any time.
Bitcoin is changing the way we play real money casino games, and it is almost certain that in the future we can expect to see far more facilities like BitPay come to the fore.