Cryptocurrency, especially Bitcoin, holds particular appeal for the gambling industry. After all, the digital currency and blockchain network’s first real application was in poker.

For years, the online gambling industry has been plagued with misguided government policies that aim to protect state-owned gambling monopolies and restrict a citizen’s freedom to decide how to spend their entertainment dollars. Dr. Craig Wright, chief scientist of blockchain technology and research development outfit nChain, explained it best:

“With Bitcoin, you know that the funds cleared, once they’re cleared you can play safely. If you can play safely, the operator knows that the man is there then your fees are lower. And that means you have more opportunity to actually win. And that’s better for everyone—the operator and the player.”

First-mover advantage