10 Dec '12, 4pm

Bitcoin Betting Grows in Popularity

Bitcoin Betting Grows in Popularity

About a year ago I wrote an article suggesting that betting by way of virtual currency like bitcoins could be the future of the industry. One small poker site accepted bitcoin as payment and about 5 bitcoin only gambling sites were in existence at the time. Some offshore gambling companies considered offering the product as payment but confusion about the currency and the huge fluctuation in its value caused most sites to shun the virtual currency. Not long after I wrote the article, the CBS show The Good Wife featured the product in an episode titled "Bitcoin for Dummies." The show's plot saw the Treasury Department suing a lawyer for the creator of bitcoins for refusing to reveal the true identity of his client. In the show the lawyer for the U.S. Treasury argued that creation of a new currency was illegal particularly since it was being used for illegal purposes such as...

Full article: http://www.osga.com/artman/publish/article_10660.shtml

Tweets

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