U.S Gambling Site Becomes First to Accept Bitcoins
Since 2012, DerbyJackpot has become responsible for the growth of a regulated industry in the field of online horse-racing betting that is found in the United States. After receiving a multitude of request from their customers, DerbyJackpot decided to allow for Bitcoin processing. They have chosen the Bitcoin processor GoCoin to partner up with for this new and historic venture.
Bitcoin on gambling site
This partnership is the first of its kind, being the first United States regulated gambling site that will accept Bitcoins. Bitcoins, often referred to as crypto-currency, is a peer-to-peer currency that is digital based and allows for payment for items or services without involving a financial institution. Last year, this same company was also the first to provide the same services to a UK based gambling website named “Cozy Games”. Cozy Games became the first in the world to allow Bitcoins to be used last October.
This has been over a year in the making, as the CEO of GoCoin has been trying to educate gaming and financial regulators in various parts of the globe. He was ecstatic that the United States had begun to allow these transactions to be legally regulated for the gaming website DerbyJackpot. He hopes this trend continues.
With the current popularity of Bitcoins, he hopes this trend with gambling websites continuing to look to Bitcoin services to help grow their businesses. This may lead to more gaming websites in the United States to allow for crypto-currency, as it is currently illegal for financial institutions to make transactions directly to these gambling websites.
More companies are going to see the conveniences that Bitcoin services provide their customers. This has been something consumers have been asking for, and with the right provider, this can be a great partnership in the making. If similar sites such as Watch and Wager, TVG or Twinspires will follow remains open.