Quote:
Originally Posted by cheltNAM
I was yes.
Why would Amaya want to take on the role of a commodity speculator? Bitcoin is a commodity not a currency by most metrics.
Also when you run a heavily regulated business on the fringe of acceptability doi you want to expose yourself to using a currency that has been used for nefarious purpose and isnt regulated? seems unwise
You are posing questions that probably every igaming site and many regulators that considers bitcoin as a payments method has looked at, going back to 2012. The thread title notwithstanding, a number of online gambling companies, including poker sites, accept cryptocurrency.
Acceptance of bitcoin generally is regulated, both through AML/Terrorist Financing restrictions, and specifically by a number of gaming regulators.
The cost savings from processing crypto deposits and cashouts are significant. Additional savings lie in certainty and speed of transactions.
No gaming operator or other merchant need become a commodities speculator as markets exist to lay off the risks associated with accepting/holding crypto.
The Chicago Merc will offer futures trading on BTC, a prospect that Goldman Sachs reportedly is planning for.
Last edited by Gzesh; 11-26-2017 at 09:53 AM.