TonyBet.com Now Accepting BitcoinsAugust 26, 2016 1:23 pm
A few weeks after the UK Gambling Commission (UKGC) announced that it would allow its licensed sites to accept Bitcoin as an acceptable transaction method, TonyBet.com. has become one of the first established gambling sites to accept the digital currency.
As a result, TonyBet customers are now able to facilitate their Bitcoin transactions via the site’s online partner, SpectroCoin e-wallet, and make deposits and withdrawals in Bitcoin, while the site converts their Bitcoin funds into regular currencies during actual play.
Furthermore, the developments seems to have had an immediate and dramatic impact on the number of new signup at TonyBet.com, especially from some of those countries trying to maintain strict controls on how much money could be taken out of their territories, such as China. Commenting on the better than anticipated impact of allowing Bitcoin transactions, Tonybet.com spokesman Warren Lush stated:
“We’re always keeping up with the latest digital innovations in order to adapt them to our online gaming platform. With the introduction of Bitcoin deposits we saw a dramatic increase in recreational punters and poker players especially from the Asian countries who have been struggling to transfer their funds before.”
Lush also refered to an additional benefit to its customers of using Bitcoin, namely the ability to speculate on price fluctuations in Bitcoin’s exchange rates, thus providing another means for its customers to gamble and potentially rack up extra profits. Elaborating further, Lush explained:
“What’s more is that partnering up with SpectroCoin we not only opened our online sportsbook, casino and poker site to those who wanted to use their digital currency for online gambling, but also encouraged customers to exploit the advantages of using Bitcoin.”
In recent times, the online gambling industry has increasingly sought to expand its reach by appealing to recreational players, as well as those from new markets across the globe. Alternative payment options, such as Bitcoin, is seen as an important step on the road to realizing this goal.