Vera & John first online casino to accept Bitcoin
Scandinavian-focused casino converts the virtual currency to Euros before crediting customer accounts
Vera & John has become the first licensed and regulated online casino to accept deposits by Bitcoin.
The Malta licensee began accepting the virtual currency yesterday, converting Bitcoins to Euros before crediting customer accounts. Users making Bitcoin deposits will only be able to withdraw winnings in the virtual currency.
Other online gaming sites such as SotoshiDice “ sold for 126,315BTC ($11.5m) last July “ facilitate online gambling using the currency, but Vera & John has become the first operator to automatically convert them to a recognised currency upon deposit.
“One of our key company values is innovation and this is why we are very proud to be the first regulated and licensed casino to offer Bitcoin to our customers,” a spokesperson for the operator said.
The digital currency was originally created in 2008 and has escalated in recent months, with one Bitcoin currently valued at around £700.
The benefits of the currency include relative anonymity and its comparative low cost and speed of transferral however national regulators have not yet recognised the currency’s validity with concerns that it could be used in money laundering.
In other news:
– BetButler rapped for ‘best odds’ claim
– Gala Interactive poker manager leaves for Betfair
– How fraudsters steal identities: Sign up to the webinar today