Cryptocurrencies Accepted as Gambling Payment Method
According to statements by AmWager, a horse race wager service, United States cryptocurrency regulators have allowed the company to allow wagers on their platform to be paid for in cryptocurrencies. BTC and BCH will be the accepted currencies from gambling bets placed on the live events.
The company’s Chief Executive Officer explained that cryptocurrencies have developed incredibly in the last few years, integrating their use into several industries and continue to evolve as a new-age payment method. Nelson Clemmens said that as crypto becomes more adopt on a global scale, several innovations and advancements in payment methods will happen and the company is dedicated to being the leading figure behind them.
As an official ADW platform, Amwager.com’s introduction of cryptocurrency payment has provided a different alternative to the modern-day form of bank procedures and fund transfer. Blockchain technology has opened up a new path to gamblers on the platform as a means of avoiding lengthy traditional financial transactions and completion.
As a decentralized gambling framework, the blockchain utilizes these connected computers to provide a stronger, faster and safer solution to current forms of pay.
According to the company, a much lower risk of a chargeback and its severity are provided by cryptocurrencies and ensures security of transaction funds. Bitpay will process every wager placed on Amwager and digital coins will instantly transition to United States Dollars. Through the largest payment processor on the planet, Bitpay will ensure the protection of every wager and currency.
Registering to Amwager takes no time, according to the site. Its users will be allowed to fund their accounts through Bitpay or by using every day payment services and methods.