When we discuss how Bitcoin may acquire momentum as a useful financial instrument, we generally imagine the huge potential in trade and finance.
Most often, we examine the possibility of crypto payments getting adopted by Amazon, a concept with enormous potential that even a simple rumor can affect the Bitcoin and altcoins marketplaces.
Similarly, big credit card firms are frequently scrutinized, with MasterCard’s management reportedly suggesting crypto participation in the immediate future.
While large corporations in trade and finance lead these discussions, there are several other routes and sectors where cryptocurrencies can achieve more importance.
Or one instance that many have been watching for some while is the poker business, where a genuine acceptance of cryptocurrencies could interest tens of millions of fans worldwide.
There are two primary reasons why individuals look to poker for crypto acceptance.
The first is that standard payment methods in live casinos might be inconvenient for participants. According to a Poker.org post on playing poker in casinos, Service charges are “generally a cash grab” at casinos, which upsets individuals who neglect to carry cash.
Games that employ crypto will instead rely on electronic payments for chips, eliminating the requirement for both cash and the usage of internal ATMs.
The 2nd motive is that bitcoin is particularly suitable for easing certain players’ worries about enjoying online poker. While the top websites in this area have solid credentials, many new players still are wary of giving payment information to gambling websites when making deposits.
Several of these players might see crypto as providing new levels of safety and confidentiality, as well as lowering fees and making transactions increasingly effective. These are all the rationale for crypto’s entry into the poker market. But, suddenly, the notion is becoming a reality.
For a few years now, we have seen cryptocurrencies make their way onto certain shady poker websites and the latest gaming venues. However, a current charity poker game combining top global players and cryptocurrency acquiring may one day be viewed as the start of a larger event.
This event was organized by quantitative brokerage firm MGNR and included a professional poker player named Tom Dwan as a centerpiece. Players purchased their way into the game with 1,000 dollars apiece in the shape of the USDC stable coin, with half of each purchase benefiting charities.
This wasn’t the first gathering of its sort, but it’s one of the most visible, and it’s not difficult to envision it starting a movement.
This means that professional players, significant sponsorship, and big charities are all becoming engaged in cryptocurrency poker. Furthermore, the usage of a stable coin is notable, as this is a better and more predominant form of the cryptocurrency notion that could be more enticing to game producers.
This is not to imply that a solitary charitable poker event powered by USDC would usher in a new era of global cryptocurrency operations at poker websites and casinos. At the very same time, this is an indication of preliminary headway towards that goal.