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Bitcoin is the internet’s currency of choice. It’s digital currency with its own value independent of the currency that’s sanctioned in the world economy.
What does this have to do with online gambling? Well, quite a bit. First, let’s unpack why bitcoin is gaining popularity in and of itself.
Why Is Bitcoin So Popular?
Bitcoin has gained popularity because, depending on the digital wallet used, you can save on transaction fees that plague monetary payments online. Plus, Bitcoin payments are practically instantaneous. This is because the virtual currency uses peer-to-peer technology for transfers.
In contrast, on sites using regular currency, withdrawals and transfers are carried out through standard means. This includes wire transfers, direct deposits, and pre-paid Visa cards.
Bitcoin, however, is different. It’s a completely virtual concept. A person’s Bitcoin wealth exists only online, in the form of online “ledgers.” These are accessed through “keys” – long strings of encrypted letters and numbers.
If you have Bitcoin, you give out your public key so people can send you Bitcoins. Meanwhile, your private key keeps your balance safe and is used to authorize transactions.
But, exactly why is all this great for gamblers?
3 Reasons Why Bitcoin Is Great for Gamblers
Bitcoin is great for gamblers because they can bypass governmental regulations set in place. They can also enjoy fresh innovations in the gaming, betting, and gambling worlds.
1. It Circumvents Regulations, But Isn’t Illegal
It’s illegal for U.S. gamblers to process internet poker payments using U.S. banks. In general, internet gambling in the U.S. with real money is illegal except in a few states.
However, since Bitcoin isn’t tangible currency regulated by any government, Bitcoin gambling breaks no laws. People are free to play Texas Hold’em with virtual currency on the internet till their heart is content – and it’s especially popular in places where online gambling is highly regulated.
2. New Gaming Innovations Keeps Things Interesting
Along with bypassing gambling regulations, Bitcoin is ushering in new gambling and gaming innovations. Using Bitcoin’s unique principles based on networking and cryptography, new games are springing up that are becoming even more popular than old standbys like Texas Hold’em, Omaha high/low, and stud poker.
3. You Get No-Cost, Speedy Transactions
As we already mentioned, Bitcoin transactions are instant and safe thanks to the technology. Plus, they aren’t privy to fees that go hand-in-hand with transferring regular old currency.
This makes using Bitcoin a tempting way to gamble, since you essentially keep all the Bitcoins you win.
These reasons and more are what makes the combination of Bitcoin and online gambling so tempting for many.
What Are the Challenges?
Though Bitcoin sounds perfect, nothing is without its challenges. For this virtual currency, the main issue is that transactions aren’t verified, so once you send a payment, you can’t cancel it if it was accidentally sent to the wrong account.
While it’s perfectly secure for individual transfers, those who want to move to a different level – say, open up Bitcoin casinos – are hesitant to put their trust into a large-scale Bitcoin operation.
Despite these setbacks, it looks like Bitcoin gambling isn’t going anywhere in the foreseeable future.
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Here are 4 training courses that will help you become the project collaboration guru of your company:
A 6-day course that will walk you through creating the right daily task lists, keeping track of task plans, improving pm skills for your team, setting team goals and achieving them, and more.
Hosted by the University of Denver this course focuses on the role of collaboration as a critical success factor in project planning and execution.
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Something you may have never considered as a fantastic opportunity for generating a very handsome level of capital is through the playing of online poker. Whether you plan on playing in the professional leagues, or will just be applying your talents in the casual sectors, there is much money to be made through the cyber format of what has always been one of the world’s most popular card games.
Poker is by no means a difficult game to get to grips with, but you will of course need some of the best relevant services in this gaming department to make the most out of your time and effort. Check out NetBet Casino for some of the most proficient and advanced technologies suited for this leading card game, which have taken this game to new heights.
The Basics of Online Poker
Whether you are very familiar with the rules of Poker, or are a complete newcomer to this high-stakes card game, you will find that the online versions will guide you through its mechanics with much guidance and care.
The best online casinos want you to be able to play their games properly, which is why they will have some of the most advanced guides available. You may also find that there are live streaming dealers available at certain times, and these talented professionals will be more than happy to assist you with whichever qualms you may have through the live chat functions.
Take your game to the next level by ensuring that you play as much as possible. You will soon find that you have what it takes to enter the professional leagues. Although you may find that you are making a fair amount of money playing in the normal fields, playing in the professional or ranked arenas is where the massive winnings can be found.
Playing Professionally – No Small Task
If you have decided that playing in the ranked arenas is indeed the best way forwards for your capital-collecting efforts, then you need to realize that such a decision will indeed require much dedication and effort.
If you are already working, then you will need to take a week off work leading up to your first competition in order to ensure that you have put in enough training and conditioning to gear yourself up to the appropriate level to contend with the big players.
You should never agree to entering a competition until you have spent a lot of time playing in the casual arenas, and are completely confident that your skills and abilities are on par with the requirements for such a heightened level of play.
Upon entering the actual tournament, the most important thing to keep in mind is maintaining peace of mind and a sound judgment. Although you will be playing alone in your room, in front of your computer, and not in a room filled with other players who will be scrutinizing your behavior and expressions, you still need to ensure that you remain as composed and focused as possible.
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