UK gambling operator NetBet has recently announced that they will be starting to accept bitcoin, the world’s first digital currency. This will make them the first UK gambling operator to accept bitcoin, which comes hot on the heels of BetChain, the first bitcoin only online casino. Bitcoin will enable NetBet to expand their customer base on an international level.
Digital currency has been seen as a cash equivalent since August in the eyes of the UK Gambling commission and believes that licensees should accept bitcoin as payment. The move should also raise a wider awareness of digital currencies and encourage the adoption of them throughout the United Kingdom.
All NetBet customers will now be able to fill up their online account with bitcoin in a matter of seconds. In a world where the UK has just started transitioning to plastic notes, currency is constantly changing. On average, the general public are moving away from traditional cash and instead opting for contactless bank cards and schemes like Apple pay. Bitcoin could be the beginning of a big change to wider world if it becomes an option in a wider range of services.
Bitcoin has rapidly advanced in a very short space of time but is still in its infancy in the grander scheme of things. Joseph Cuschieri, chairman of the Malta Gaming Authority, isn’t as keen on bitcoin and still considers it to be a risk.
Regardless of his opinion, the wider gambling industry is welcome to the idea of bitcoin with open arms. Bitcoin comes with stronger security measures, especially in the case of fraud, which may make a large number of NetBet players open to the idea of using bitcoin instead of their regular currency.