One of the biggest issues that hinders crypto players is the inability to use crypto as a universal payment method. This is something that’s been an issue for a while now. Fortunately, IGT has started moving towards solving this issue.
IGT is well known in the iGaming industry for creating a range of high quality video slots. It’s also become known over the last few years for additional tech for casinos. Both land based and online casinos are part of the IGT portfolio. What it’s not really known for yet, is Bitcoin casinos.
While there are a number of different online options for crypto players, brick and mortar players are left in the cold. This is something that IGT intends to remedy.
The IGT patent is based around a gaming wallet. It will essentially work as a mobile exchange for players. The belief is that it will be developed as an app and from there players will be able to play at land based casino games. The patent itself describes using an escrow system. From here players will enter their crypto to the escrow. This will then allow real time fiat exchanges. The exchanges can then be used to play a number of different games.
The real specifics of how this will work hasn’t been announced yet. A number of news outlets have approached IGT for comment, but nothing has come back. However it will eventually work, it’s certainly an exciting potential development. It also shows just how far behind land based casinos are when compared to the tech online casinos offer.
Online casinos have had the opportunity to play with crypto for a while now. While the IGT patent is assumed to be just BTC based, online casinos cover a range of cryptos. What online crypto casinos also cover is a number of different options. The IGT offering is expected to use fiat exchanges to allow players to play. Online crypto casinos allow players to play directly with crypto. This provides a significantly more useful play method for crypto players.
However, it would be wrong to disparage this move. It might not be exactly what crypto players want, but it is definitely a move forward. It increases options for crypto players at land based casinos. There may not be a date yet for when IGT intends to implement this payment method, but it’s certainly a positive sign that it’s being thought about. This could be a way for crypto players to make the move from home playing to land based playing. It’s certainly an exciting time for crypto gambling.
Other Potential Crypto Benefits
This move will obviously increase convenience for cryptocurrency players, but it also has other benefits. It will increase the number of ways that BTC can be used in the wider world. This in turn will help to increase the value of BTC. The more ways it can be used, the higher the likelihood that the price increases will continue. It means that the IGT patent, and further down the line the rollout of the technology, should be good news for hodlers. It means that there is the opportunity for many people to benefit from this new tech.