Online Gambling Gets A Facelift From Betcoin.ag, A Bitcoin Casino
Online gambling is experiencing tremendous changes as companies like Betcoin.ag allow players to wager real money bitcoin bets. Traditionally, the casino industry is resistant to change, and brick and mortar casinos had many objections when online casinos opened around the year 2000. Now bitcoin casinos are set to disrupt the fiat online casinos, as the offer poker, sports, and casino games all in bitcoin.
To learn more, Bitcoin Price Live did an interview with Brian Thomas, who is a senior manager at Betcoin.ag. In the following interview we learn how a bitcoin casino operates, why fiat online casinos are saturated, and see how a fluctuating bitcoin price affects casino operations.
Interview with Betcoin
1) How did Betcoin get started?
We have always been passionate about bitcoin since late 2012 and the more involved we became in it, the more we realized that bitcoin and online gaming of all types would be a perfect fit. We launched Betcoin Sports in April of 2013.
2) Were you planning to use bitcoins from the start?
Fiat online gaming is completely saturated and does not have the same benefits as gaming with bitcoins does. Bitcoin has the advantage of instant deposits, no fraud, and no charge-backs. This allows Betcoin to offer better bonuses and promotions to our customers.
3) Do employees get paid in bitcoin?
Yes, all company operations are in bitcoin. It has been a great learning process for everyone as you quickly realize how much easier bitcoin is to use, and the greater control you have over your money. Bitcoin is the evolution of currency into a digital form and the future of online money now.
4) Which came first? Casino, Sportsbook, or Poker?
Betcoin Sports was launched in April of 2013 and was immediately successful. We had always planned to have Betcoin Poker and Betcoin Casino from the start, but these properties were not launched until March 2014.
5) Since the Amaya group has taken over Pokerstars, a lot of players have been complaining. Do you see this as an opportunity?
Pokerstars is a powerhouse and a very reputable company in the industry. We see bitcoin poker as the next step in online poker. Similar to live play, you can collect your winnings instantly using bitcoin. We see a great opportunity in bitcoin poker are working very hard to provide the best service possible.
6) How do you ensure the Bitcoins you are holding are safe?
We use encrypted cold storage as well as a variety of encrypted warm wallets. We have never had a bitcoin security breach and protecting our player’s bitcoins is of primary importance to us.
7) Do players deposit less when the Bitcoin price is low? Does a fluctuating Bitcoin price change how you operate?
We have seen deposits steadily gain irrespective of price at this point, however the price has trended down the last 6 months. We still need more data to make a direct correlation to price and number of deposits. Right now we are pleased to be getting a very solid influx of players and a high deposit/return rate.
This concludes our interview with Brian Thomas, and we hope you got some insight into how Betcoin is working.
Brian gave us some additional information after the interview to say that Betcoin has many new features including an updated sportsbook, revamped VIP system with tons of rewards, and more community involvement with bonuses and promotions. Betcoin is hosting a $1,000,000 guaranteed poker tournament on December 14, 2014 to be paid out in bitcoin. Lastly, Brian said Betcoin will continue working hard to improve bitcoin gaming.