Bitcoin Poker Gets Popular in the US

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Bitcoin CasinoIn an article published on Newsweek.com, Leah McGrath Goodman speaks about the challenges of running bitcoin poker rooms as well as the increasing popularity of bitcoin poker in the US.

For instance, poker players from different parts of the world log into their accounts at the bitcoin-only poker room SealsWithClubs to take part in the site’s biggest weekly tournament, the Big BTC Sunday. SealsWithClubs happens to be the biggest bitcoin online poker room as it is the home of a large community of 72,841 players.

Rising Popularity of Bitcoin Poker

Bryan Micon, the marketing director for SealsWithClubs, told Newsweek.com that bitcoin payouts are faster than dollar payouts. He further said that American players residing in states that have not legalized online gambling prefer playing with bitcoins because of the anonymity they offer.

According to Joseph Attard, who edits a gaming information site called RightCasino.com, the traffic at SealsWithClub provides ample proof for the rising popularity of bitcoin. He said: “A lot of operators are starting to get wise to the opportunity bitcoin presents as a tax-free, US-friendly-ish igaming currency.”

Players Turn to Bitcoin Poker after Black Friday

USA FlagThe Newsweek.com report goes on to say that SealsWithClubs turned out to be the answer to the prayers of US poker players who were no longer able to access their favorite game after Black Friday. According to poker player Nick Crepas, the site turned out to be an excellent alternative for those players who did not wish to leave the US to play legal online poker.

One of the players who had migrated to Vancouver after Black Friday to play poker, Crepas now lives in Las Vegas and spends 20 percent of his bankroll playing with bitcoins. According to him, mostly younger poker players tend to get attracted to bitcoin poker.

Challenges of Running Bitcoin Poker Rooms

Gil Luria of Wedbush Securities, a finance company in Los Angeles, said: “Right now, some of the early uses of bitcoin we’re seeing is for online porn, online poker, online dispensaries. But as the US starts to tax bitcoin and the currency becomes more mainstream, I expect we’re going to see these sites get more closely monitored and regulated.”

Recently, Coinbase, a processor of bitcoin payments, made an attempt to close accounts of foreign and US players trying to transfer their bitcoins from online gambling sites on grounds that gambling is illegal in the US.

Attard said that several bitcoin gaming sites are taking a huge risk by accepting US players. While European gambling sites tend to stay on the safe side and prevent US players from signing up for real money play, sites such as SealsWithClubs implement the policy of accept players from all parts of the world.

However, Micon is optimistic about bitcoin’s ability to rejuvenate the online poker industry in the US. He says: “After seeing other poker sites steal money from their players and go through so much upheaval, I really want to help build something that will be safe and reliable for every player.”

September 2, 2014: • No Comments

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