Bitcoin, a controversial cryptocurrency, has been recognized as the best online payment solution, including online casinos.
This opinion comes from the Isle of Man: since Bitcoin was named the best option for online casinos, its popularity has been rapidly growing. Local authorities say Bitcoin is potentially profitable. Nick Williamson, the CEO of Credits, has made an effort to register blockchain technology on the island. Moreover, local officials have changed the regulatory framework promptly and passed a number of laws on the cryptocurrency.
Many Bitcoin companies have got an opportunity to open their offices on the island without interference. Bitcoin has become extremely popular on the island; locals can pay with it in cafes and restaurants as many of them were equipped with QR-code readers to accept Bitcoin.
The Isle of Man became home to numerous online casinos, betting companies, and lotteries long ago. Dozens of gambling websites are registered there. Therefore it is not surprising, that the cryptocurrency has become so popular in the gambling industry.
Mark Rutherford, the GSC’s deputy chief executive, commented on the news. According to him, the instance, in cooperation with the treasury of the island, has approved a number of amendments to the existing gambling regulatory laws in the country. As the result of the amendments, Bitcoin was recognized as an official currency equivalent to the national and the other currencies on the market.
It is possible that soon Bitcoin will become widely used in many online casinos. However, top online casinos have been reluctant so far to switch to Bitcoin and offer traditional dollar and euro to their players.
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