Coingaming

The Coingaming Group Switches to Microbitcoin

The Coingaming Group which operates two of the most popular bitcoin-focused gaming platforms, that is Bitcasino.io and Sportbet.io, has made a pioneering switch in its betting units from milibitcoin (m฿) to microbitcoins (µ฿), otherwise known as ‘bits.’ The operator’s radical move is primarily aimed at taking advantage of bitcoin’s extended growth in value in order to make betting services more accessible. Furthermore, the customers of both platforms will be able to choose from a vast selection of premium casino games with the same bankroll.

Coingaming relaunched both the Bitcasino.io and Sportbet.io brands last year in an effort to bring a more improved customer experience that encompassed a proactive approach that involved a modern user interface as well more appropriate customer support services. The idea was to encourage the players to join and experience what the operator had in store – this is governed by a fun, fast and fair policy that guarantees outstanding flexibility options and amazing play time.

“With Bitcoin now well and truly in the mainstream, and its price continuing to surge, we wanted to ensure all games and sports events were accessible to all types of customer. Reducing our gaming unit to bits (µ฿) is the ideal way of doing so and keeps the user at the center of our universe,” said Tim Heath, the Coingaming Group’s CEO. “Our customers can now play and bet more for the same money, and we expect this to encourage even more users to sign up to the leading Bitcoin casino and sportsbook, while also providing existing loyal players with greater flexibility and potential play time.”

Other than the introduction of bits betting, the Coingaming Group also offers a number of generous and exclusive bonuses and rewards. This initiative has served the company quite well as it has helped it to raise awareness of its unique betting propositions. Apart from its online casinos and sportsbooks, the group also boasts of a dedicated Esports betting platform known as Bets.io and a slots-led platform known as Slots.io.

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Casinos in Nevada Warm Up to Bitcoin as a Payment Method

Cryptocurrencies are slowly revolutionizing how people do business in several places around the world. Even so, the concept of decentralized digital currencies has been subjected to nearly equal measures of resistance and acceptance with some governments and industries actively rallying behind cryptocurrencies and some others outrightly bashing it.

One of the industries that have embraced cryptocurrencies is the casino industry. The Nevada casino industry, for instance, is championing for the use of cryptocurrencies as a mode of payment. This, however, does not come as much of a surprise as the Nevada casino industry has always been known for being at the helm of experimental ventures as well as testing out new innovations. Thanks to this strategy, the Nevada casino industry stands out globally as a trendsetter for global gaming.

Despite their approach towards newer and experimental ventures, the Nevada casino industry has been rather slow in embracing cryptocurrencies, especially bitcoin which is by far the world’s most valuable cryptocurrency. This is partly due to the lack of regulations by the Nevada Department of Taxation and the Nevada Gaming Control Board to govern the use of cryptocurrencies even though it has been ten years since bitcoin, the first cryptocurrency, came into being.

A few regulators have expressed concerns over the use of bitcoin for illegal practices such as money laundering but no legal representative has actually talked about the incorporation of bitcoin into the state’s casinos. This is unlike the case in the global gambling scene where operators have been quick to embrace bitcoin especially because it allows high rollers to access their money from offshore gaming sites, by circumventing the limits imposed on the movement of money. This presents a risk of money laundering at Nevada casinos hence the hesitation.

A number of bitcoin users have, however, refuted this claim while pointing out that federal regulations and technology are the key components of anti-money laundering efforts. This has paid off as now some casinos in Nevada have finally decided to embrace bitcoin despite the lack of official support.

D Las Vegas, a Nevada casino owned by Derek Stevens, is the first casino in the state to allow bitcoin to be used as a mode of payment. Currently, hotel stays and related hotel expenses can be paid using bitcoin. Gambling, on the hand, will still require cash – fortunately, the casino has a bitcoin ATM that gamblers can use to convert their bitcoin into dollars.s