crypto-poker

Is BTC Gambling Still a Lucrative Investment Opportunity?

Bitcoin and digital currencies, in general, have become quite appealing as business prospects which was not the case just a couple of months back. Despite recent declines in the overall value of most digital currencies, the crypto industry is on a rather consistent upward trend. In many ways, the industry has seemingly gotten to the point where it can be said to be ripe for investment and exploration – a number of these are already underway. This is especially true for the gambling industry which is among the very first industries to adopt various crypto-related innovations. If history is anything is to go by, then this is a sign that crypto will be vital in the quest to boost returns for the gaming industry.

What 2019 Has in Store

Well, according to a number of experts, 2019 is going to be the year of next level application of bitcoin, and other digital currencies, in the gambling market. These projections mainly rely on the trends and forecasts for both markets that indicate several extensive changes that will come into effect by the second quarter of the year. This steady growth trend is expected to go on for the next two years with the areas expected to see the most changes being mobile gaming, sports betting and live online gaming.

Online casinos and online poker operators stand to reap the most from the integration of crypto technology and mainstream consumer technology. The trends indicated by these projections and forecasts are going to peak in 2019 which means that we might actually get to see fully-fledged applications taking advantage of the untapped potential of the crypto market. That said, it is safe to conclude that despite the ups and downs of the cryptocurrency space, it was always bound to rise above all that.

Blockchain Poker Tournaments

Last year we got to see the very first blockchain poker tournament that highlighted the three-day World Crypto Conference and was hosted by Las Vegas-based Aria casino. The tournament brought together live poker action that was powered by blockchain technology, making it the first to show off the full potential of blockchain and crypto technology in the gambling space. Poker players should expect more of these in 2019.

Prior to the inaugural blockchain poker tournament, there were already a number of established online poker brands including Virtue Poker that were already using decentralized smart contracts to manage their data. Even though the technology is still far from being perfected, players have grown to love the idea of their data and gaming application being managed by decentralized platforms primarily because the technology helps in reducing the possibility of site fixing and the use of poker bots.

Blockchain Poker Tournament to be Hosted at Aria Casino

Blockchain and cryptocurrencies are quickly becoming ingratiated into the poker world. Providing players with safe and secure gaming, they have been embraced by players and operators across the web. To help strengthen this bond, World Crypto Con will be hosting a Blockchain poker tournament.

Bringing Land-Based Poker and Blockchain Together

The Blockchain Poker tournament will integrate blockchain technology into standard poker tournament play. While few details have been announced so far, we are hoping to see some exciting innovations, for example, wagering using cryptocurrencies.

It is anticipated that many talented poker pros will be in attendance. Daniel Negreanu and Antonio Esfandiari are on the list of rumoured runners, and there is speculation that Phil Hellmuth may register since he is known to have a close relationship with the Aria Casino.

This will be the second time we’ll see blockchain technology integrated into a poker tournament. The first was in July, when Blockparty hosted an event at the Blockchain World Conference. 100 runners competed in the tournament, and the winner walked away with a two tickets to the next Blockchain World Conference and three nights’ accommodation – worth a total of $10 000.

Blockchain in the Online Poker World

The online poker market is quickly embracing blockchain technology and cryptocurrencies. There are now dozens of online poker sites that accept bitcoin and other cryptocurrencies as deposit methods, and players are pleased with the development. Cryptocurrencies are well-known for the privacy that they award users, as they are completely anonymous. They are also renowned for their quick processing times.

There are also many ways that online poker sites are planning to use blockchain in their overall operation. Smart contracts can make peer-to-peer payments an integral part of tournament registration and payouts. For example, if it costs 1 BTC to enter a tournament, the player’s buy-in is kept in escrow with every other player’s entry fee. Players who win will be paid out from the escrow account, so no money is ever passed through a third party.

Another benefit of blockchain technology is that it is audited by the community itself. All changes and developments can be viewed by members of the community, who are on the lookout for any suspicious activities – so, you can definitely rely on blockchain to make the online poker world a safer place.

Blockchain is already making a significant impact on the online poker world, and it is sure to start having an effect in the land-based poker market. World Crypto Con’s blockchain tournament is just one of the first few steps that needs to be taken in order for poker and blockchain to become completely integrated for a whole new gaming experience.