Online gambling is a popular use for Bitcoin, but it still comprises only a small part of the industry. Increased Bitcoin payment acceptance is the goal for Bitcoin supporters. Fortunately, there is some good news to report: Deckmedia, the owner of Slotocash and Uptown Aces, has recently announced that they will be accepting Bitcoin payments for the two casinos. Although the sites are not allowing Bitcoin withdrawals, this is still a step in the right direction.
Depositing Bitcoin made easier
The process of payment should be familiar to those who use Bitcoin. Deckmedia has managed to smoothly integrate the Bitcoin payment process into the casino’s cashier system. A player has two choices for his Bitcoin payment. They can either deal with Bitcoin directly or make the transaction by coursing the payment through NETELLER.
For traditional transactions in a Bitcoin casino, players will make use of the manual transfer of payments. To ensure that the players will experience convenience in deposits using Bitcoin, they will first be prompted to provide the exact amount in US dollar they wish to transfer. A minimum of $10 is required, but the amount can grow to as much as $2,500. The casino automatically converts the inputted amount to bitcoin and will be shown in the slip, on which the wallet address and the QR code for the deposit are flashed.
Players are given 30 minutes to send their Bitcoin deposits. Failure to do so will invalidate the transaction.
Deckmedia further made Bitcoin a great alternative payment as bettors can also transfer funds through NETELLER. The payment processor will convert it to fiat cash for use. Afterwards, players can use their NETELLER accounts to deposit on either Slotocash or Uptown Aces.
More integrations hint positive sign
Adding Bitcoin as a payment option is a good compromise for many casinos as it equips them with the ability to get into the Bitcoin movement without much risk. Bitcoin payments can easily be converted into fiat currencies, resulting in little or no loss for the site operator. However, Bitcoin withdrawals are another matter since the volatility of the cryptocurrency may result in casinos unexpectedly paying more than they would want. Thus, it is understandable that they would hesitate on full implementation until they find a better Bitcoin payment solution.
With Bitcoin payments now available on Slotocash and Uptown Aces, Bitcoin gamblers will be sure to drop by and see what these casinos have to offer. This is a positive sign for the cryptocurrency as increased adoption will bring about further changes in the market. Right now, Bitcoin gambling is still less than five percent of the online gambling industry, but many experts say the Bitcoin movement can cross that five-percent line within two years. With more Bitcoin gaming sites popping up and more mainstream casinos following the Bitcoin lead, this is quickly becoming more likely.