Gamblers who have signed up with online betting company Tonybet will now be able to transact on the site with the bitcoin digital currency. The company has partnered with SpectroCoin, a leading e-wallet service to launch Bitcoin options for its players.
SpectroCoin offers a range of bitcoin-based services, one of which is being able to deposit and withdraw from online betting sites. The bitcoin wallet is used by bitcoin users for buying and selling as well as for sending, receiving and for storing bitcoins. It is operational in over 25 countries across Central Europe and Asia.
With this partnership, Tonybet is now one of the few established betting sites to accept digital currency for their online gambling transactions. Customers can now use bitcoin to play a wide range of games across Tonybet’s varied offerings spanning sportsbook, casino games and poker.
Tonybet customers using bitcoins for their play on the site will find that unlike other sites, Tonybet will be converting the bitcoins into real money currencies for the play. Tonybet has said that this feature is unique to their site. According to Tonybet the introduction of bitcoins as a banking method has already boosted the volumes of play on the site as it has brought in new segments of players.
In a statement, Warren Lush, spokesman for Tonybet, said,
We’re always keeping up with the latest digital innovations in order to adapt them to our online gaming platform. With the introduction of Bitcoin deposits we saw a dramatic increase in recreational punters and poker players especially from the Asian countries who have been struggling to transfer their funds before.
Lush pointed out another benefit of using bitcoins was that customers can speculate on the bitcoin value since they are converted into currencies. This offers them the opportunity to earn additional money via profitable trades. One bitcoin is currently in the range of around $575. During the last couple of years, bitcoins as a payment method has been gaining ground and today a wide range of merchants and online sites accept bitcoins as payment method.
Some major companies that accept bitcoin payments are Microsoft, Dell and online retailer Overstock.
Tonybet was founded by Antanas Guoga, a well-known poker pro and businessman in 2013. The company which is licensed in Estonia offers a wide range of games across mobile and desktop versions. This addition of bitcoins comes after Guoga who is a Member of the European Parliament (MEP) recently told the Internal Market for Consumer Protection Committee that virtual currencies were a huge leap forward in innovation.