After the Black Friday incident in 2011, US-based poker players have found the new option to play Bitcoin poker on online gambling sites through the use of the virtual currency.
Bitcoin, which is the most popular online digital currency at present, is being utilized by gambling sites to allow players from all over the world, especially in the US, to engage in online poker betting without breaking any law like the Unlawful Internet Gambling Enforcement Act (UIGEA).
UIGEA is a US legislation that regulates online gambling, which directly affects the online poker community. However, the use of Bitcoin is not covered by the said legislation because the former does not involve payments made through credit cards, electronic fund transfers, and paper checks.
Moreover, the recent ruling by the Internal Revenue Service regarding the virtual currency, calling Bitcoin a legal property instead, opens up more leeway in online poker gambling. As a result, numerous poker bettors in the US have already resumed playing the all-time favorite card game using bitcoins.
Engaging in Bitcoin poker gambling entails a catalog of advantages that are rooted from the innovations provided by the digital currency. For instance, the anonymous nature of Bitcoin enables users to join poker betting sites without revealing their personal information and even financial details, reducing the risks of online threats like identity theft and fraud.
In addition, US-based online poker players will greatly benefit from the deposit and withdrawal functions found in Bitcoin-powered poker rooms like Infiniti Poker. Given that Bitcoin gambling does not involve conventional payment methods, players will experience almost instantaneous transfer of funds into and from the betting account. This is made possible since Bitcoin is not regulated by any central authority.
With the great potential for the online poker industry to be revived with the help from the Bitcoin acceptance in poker, many Bitcoin poker sites with lower fees and rakes have begun providing gambling services on the shores of the US. Betting sites like Seals with Clubs and Americas CardRoom are among the gambling venues that accept bitcoins to play BTC pokerstars Bitcoin site online.