Fun Fact, Nearly ALL USA Friendly Online Casinos Now Accept Bitcoin
Here is a fun fact for those that may be unaware. Nearly all USA friendly online casinos accept deposit and withdrawal by Bitcoin now.
This is not only huge for Bitcoin, but for online gambling as well. First, Bitcoin is being pushed to a wider market, with a real use case. Anyone that has spent any time gambling online knows that it takes forever to be paid out. Slow payouts are the most common complaint for players. This is partly due to them having to send player winnings via bank wires or actual checks in the mail. The use of bitcoin will reduce a players payout wait time from days, to hours or less. As soon as the cashout request is approved by the online casino, the funds should be in the players wallet almost immediately.
source: online casinos now accept bitcoin
I see this as just the start of things to come. It really makes no sense that we use an outdated banking system when doing business online, where everything is almost instant.
A few other points I would like to make for anyone who has played online before, as I have some friends who are really into sports betting as well. When being paid out into the regular banking system, the casinos would often charge a bank wire fee, then your bank would often charge you another fee for receiving the bank wire. Those two fees together could be as much as $40, really cutting into any profit from your winnings. Checks where often a little better, but the casinos would still charge a large processing fee, and it would take days to arrive. From what I have seen, when using Bitcoin those fees are no longer an issue, as bitcoin can be extremely cheap to send and receive.
The last point I would like to make, is this greatly enhances player privacy. You'll no longer have to provide the casino with your personal banking details, as we have all seen the hacks from companies lately with everyone's personal information being leaked.
Just a few thoughts from the top of my head as I watch the future of finance unfold.. Feel free to let me know your thoughts as well..