LuckyStar Casino announces the addition of Bitcoin payment to its gambling site. Sirplay is also integrating Bitcoin to its bookmaking platform.
There are many gambling sites that are becoming aware of the benefits that the company can reap from accepting Bitcoin. These benefits include faster payment and low fees.
LuckyStar and Sirplay announcement
With the announcement of LuckyStar to the addition of Bitcoin to its list of payment options, the operator will also include a special bonus for Bitcoin owners. There is a 100% Welcome Bonus for Bitcoin deposits and a low wagering cashback bonus.
Sirplay announces its integration of Bitcoin payment to its Turnkey sports betting software. The company can see potential in the digital currency because
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The primary benefit of Bitcoin is its speed over fiat transactions. Operators can receive a player’s deposit within an hour or less than a day. Even deposits from outside of the country are almost instant.
Bitcoin can also protect operators from fraud and hacking attempts. One of the problems of many gambling sites or online retailers is chargebacks. Chargebacks are where the bank takes back the money a customer spent on the website if the bank sees that the transaction is not legitimate. Even if the transaction is legitimate and the customer did not receive his refund, operators will still pay the processing fee.
A chargeback is not possible with a Bitcoin transaction. All Bitcoin payments are final and there are no central institutions that can cancel it.
Gambling sites that start to accept Bitcoin can open its business to more potential customers. Bitcoin is a globally accepted currency and there are a lot of Bitcoin owners around the world. There are a good number of owners who are looking for a way to make wagers with their digital coins. Instead of taking the time to convert his Bitcoin into fiat currency in order to make bets in a traditional casino, a Bitcoin owner will be looking for gambling sites that directly accepts his digital
For years, casino gambling was portrayed in the media and Hollywood as being associated with criminal activities and the mafia. Now with proper scrutiny and government regulations, casino gambling has become a lucrative business, with casinos stock even trading on Wall Street. Casino gambling is an increasingly popular and legal activity in many states throughout the United States. “The term gambling or ‘gaming’ as the industry calls it, means any legalized form of wagering or betting conducted in a casino, on a riverboat, on an Indian reservation, or at any other location under the jurisdiction of the United States” (National Gambling Impact Study Commission Act). States that allow casino gambling benefit vastly by re-incorporating the taxation of commerce gained from casinos and tourism associated with the casinos back into the state and local communities.
Ø Fahrenkopf Jr., F. (2002) Legalized Gambling Benefits Local Economies. Retrieved April 14, 2004 from Opposing Viewpoints database
Bitcoins are portable. Mobile payments can be made almost instantaneously by using a digital wallet. Cross-border transactions may take only minutes. Other limitations that apply to transferring money are often irrelevant (such as delays due to public
There are many reasons why people gamble and what the advantages and disadvantages are of risking your bank account on the roll of the dice or the luck of the draw. I originally set out to try and explain why people gamble, but I realized that gambling is just as much of a business or industry as anything else. I researched Foxwoods casino, in CT, and the business behind that. From there I will attempt to explain the “cause and effect” of gambling. Gambling has made much more sense to me now, and I hope it will do the same for you.
Imagine a world where there are no banks or even a need for wallets. This may sound like a nice freedom at first until illegal activities sky rocket; including the drug and sex trade. The economy will crash and millions of people will be left high and dry with a worthless currency. This type of chaos will not only devastate the United States but will also be seen world wide. With the way technology has been advancing this could be a very plausible future, thanks to Bitcoins. Bitcoins are a new form of digital currency in which the consumer uses and stores all of their money on a computer. This allows for quick trade, not only within your own country but others as well (Ethley par. 2-4). Although there may seem to be great benefits that Bitcoins offer, they are actually more damaging then beneficial. Bitcoin use will have a huge negative effect on the economy, they are filled with security issues, and support criminal activity due to their anonymous nature.
Casino gambling is an increasingly popular and legal activity in many states throughout America. “The term gambling or ‘gaming’ as the industry calls it, means any legalized form of wagering or betting conducted in a casino, on a riverboat, on an Indian reservation, or at any other location under the jurisdiction of the United States” (National Gambling Impact Study
Throughout Las Vegas history, Vegas have grown in tourism and residency to become more well known. From gambling clubs to casino and resorts, Las Vegas has grown to a little town to a big, bright city to the“Sin City”. If all the laws and mafias that collaborated with the casinos and gambling clubs did not happen back then, our community of Las Vegas would not be as popular as we are today.
Gambling has been an activity that has been around many states for a while. People like to gamble to test their luck and hopefully get lucky enough to win a prize. Nowadays you don 't have to go to the casino to test your luck, at majority of grocery stores they offer the ability to buy scratch off ticket and or play the powerball. Many people gamble to have fun, as well as, have a good time, but there are others that gambling becomes an addiction that is hard to control. The odds of winning are less favorable than the odds of losing. According to Jost, “lotteries in 43 states” as well as, DC “collectively” made “18 billion in revenue for the state,” along with the “local government.” (Jost,525) The lottery is a great investment for many states and the local government. Something that everyone has to be aware of is that the the lottery will always make a profit. Someone might get lucky enough to win 100 dollars, while 2 other people loss 100 dollars each. The big picture is that nobody is going to invest in a company that is not going to
Gambling... Who does not like to gamble? People play lotteries, bet on sport games or try their luck on slot machines with a thought to win some amount of money. In fact, this excitement for gambling can be seen even from early ages; for example, ancient Egyptians used to play dice in 2000 BC or the first casinos opened their doors to customers during the Greeco-Roman period ( Whittaker and Cushman 1 ). Nowadays casino industry is a large business in the United States that brings high revenues and offers various entertainment that attracts people from different areas. So just recently residents and visitors of Worcester, Wicomico and surrounding counties got a great opportunity to try themselves in a new Ocean Downs casino that came into operation couple months ago. Ocean Downs casino is an excellent benefit to the community that helps to improve the economic and social status of the county and also serves as a great entertainment for the adult population.
Casinos have become a form of entertainment for millions of Americans. In fact, Las Vegas, considered to be the home of casino gambling, is third only to Disneyworld and New York for tourism with 260 million visitors yearly. While it is true that casinos generate billions of dollars in revenues hardly any of that makes it back to the local economy as promised by the lobbyists to have casinos built in a city. Effects on local economies include construction jobs are created as well as hospitality jobs within the casino. While it is true jobs are created though usually they go to people outside the communities. The lobbyists for these huge casino companies state that it will also revive a dying economy if they allow casino gambling in their cities. Contrary to this claim though, Atlantic City has the highest unemployment rate in New Jersey. They claim restaurants, movie theaters, and other local businesses will benefit when exactly the opposite is true. Who is going to eat a local restaurant when the casino is offering free meals and drinks to gamblers. By 1996, Atlantic City casinos were devoting 318 million dollars to promotional food and drinks. Also in Atlantic City, over 900 of the 2100 small businesses there closed and the number of local restaurants was reduced from 243 to 146. Richard Byron, President of the Federal Reserve Bank of Boston, describes gambling expenditures as Money Extracted From Other Consumer Spending. When casinos come into a small community such as Atlantic City or Biloxi the people living in that community start to go there for entertainment instead of movie theaters, restaurants and other places they used to go to before. In 1994, more people went to the casinos than went to major league baseball parks and more money was spent on casinos than books, albums, and theme parks. It also affects real estate values, in Atlantic city the average cost of a house dropped 24,000.00 after the casinos were built and 11,000.00 for cities close to Atlantic City.
There are several positive effects that gambling has along with its positive impact for economic development. In some areas of the U.S. gambling has been embraced and promoted as a legitimate strategy of economic development. It helps the unemployed and underemployed by providing them with jobs that receive amazing benefits. It helps the real estate business in areas where casinos are built there are most likely to be a hotel somewhere nearby. There are several gambling companies that make charitable donations in their areas, by giving thousan...
The use of bitcoins provides independence from centralized authorities, such as governments and corporations. • Transactions using bitcoins are fast and efficient. • The use of bitcoins can provide anonymity to users. • Bitcoin mining provides an incentive for users to keep the currency running. Cons of using Bitcoins • The security and protection provided by large bodies is absent, making bitcoins a volatile and insecure means of trading.
It is important to note, that while Bitcoin can be very difficult to understand, most people don't fully understand most of today’s technologies that influence their everyday lives, such as telephones, cell phones, the internet, and computers. Why is a Decentralized Payment System a Big Deal? " Regulation of money supply needs to be depoliticized. especially as it applies to virtual currencies" - Al Gore While Bitcoin is a currency, it is really better to understand it as a public ledger. This ledger, which is viewable by anyone, records every transaction within the network, and verifies the transaction from every computer on the network.
Gambling is described as the betting of money or property on the result of an event or game that is mainly random with the desire to win more money or gain additional property. The industry or sector created by the activity of legal gambling is referred to as gaming. Since inception, gambling and gaming has continued to develop to an extent that it worth more than $335 billion across the globe. Most of the revenues obtained in this industry are generated by casinos and lotteries. In the past few years, gambling and gaming have attracted significant concern and controversy, especially with regards to the morality of the practice and whether its financial benefits outweigh the damage. While proponents of gambling
There is a major issue to be dealt with, which is spreading with little regulatory oversight and no effective screens against participation by the young and the vulnerable. Internet gambling represents one of the fastest growing segments of online activity with more than seven hundred web sites now providing users the opportunity to wager everything from casino games to sporting events. According to internet research firms, the industry will pull in $1.5 billion in world-wide revenues this year. That figure is expected to hit at least $6 billion by 2006. Also, a survey conducted by the Pew Internet and American Life Project concluded that $4.5 million Americans have gambled online and that 1 million gamble online everyday.