Crypto currencies gain favor in Asia gaming

Bitcoin has regularly made the headlines in recent months, its price surging towards the $5,000 mark – four to five times its value at the start of 2017 – predominantly driven by interest in Asia. It has also emerged as a viable gaming currency, with online operators discovering that users, particularly in Asia’s grey markets, are keen to embrace a currency that is secure and easily deposited and withdrawn. Several Bitcoin-led operators, including Bitcasino.io and Cloudbet, have enjoyed rapid growth by simplifying and accelerating the deposit and withdrawal process, particularly in markets where banking restrictions make depositing fiat currency on gaming sites a challenge. But this might be just the beginning of a wider revolution in blockchain gaming that could seriously threaten the established order, and even has Asia’s biggest lotteries in its sights. In recent months several initial coin offerings (ICOs) focused on the gaming industry have raised significant funds. ICOs, or token...

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