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Requests for Bitcoin Payments in Poker Are Increasing

23 November 2020, 17:03
Votes: 1

Winning Poker Network (WPN) reported about the growing popularity of cryptocurrency payments across their platforms. The company has already been paying more than $100 in cryptocurrencies monthly, while now this number has increased. Login Casino reports about the latest news in the poker industry and tries to highlight the recent trend.

Requests for Bitcoin Payments in Poker Are Increasing

The international poker supporter WPN presented interesting numbers concerning the payments trends. Even though the company had more than 60% of financial operations held in cryptocurrencies earlier, now the number grew up to 95%.

Being on the 60% level, Winning Poker Network had to process more than 100 million dollars in cryptocurrencies monthly, mostly in Bitcoin. With the increased demand, the amount of crypto assets reaches almost $160M.

Why did such an increase take place?

The growing interest in Bitcoin withdrawal can be easily linked to the increase of this crypto token value. In recent weeks, Bitcoin has overpassed the $18 000 level from the relatively stable $14 000 during the vulnerable 2020. Such an increase of the most popular crypto asset can be linked to the American presidential elections, where Trump is shaking the news outlets daily.

However, that is not the only reason why the poker community showed demand for Bitcoin transactions. As all the cryptocurrencies are traded via blockchain-protected systems, which gives almost full anonymity, such a way of dealing with payments is preferable to those who want to save privacy.

Interestingly, but this is also related to the US, where only 11 states have allowed online poker playing, which forces players to bypass this restriction. America is one of the global leaders in the wide appliance of cryptocurrencies, giving citizens the opportunity to visit online poker websites while being protected with legal technology. This approach became more popular in 2020 when land-based casinos and poker rooms were closed for months while players wanted to compete.

Read moreWhat are the cornerstone drivers of Bitcoin casinos?

Read moreWhy can poker video games become an alternative to live playing?


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