Previously, BetCoin users were restricted to standard video poker. With the new investment in the site and available gaming options, BetCoin stands to take on some competition. In addition to the new multiplayer poker room, the online casino upgraded the overall site to make it compatible with any device. Mobile functionality is a significant competitive advantage for some online casinos, so the upgrade signals BetCoin is ready to challenge some of the seasoned online casino operators.
As a cryptocurrency, bitcoin continues to be volatile, but did have a promising 2015. In fact, bitcoin gained almost 40% of its value against the US dollar in the calendar year. This return made bitcoin one of the best investments last year.
Following a tough 2013 and 2014, where bitcoin saw major seizes from governments around the world and a significant price decline, the digital currency is on the rebound. Bitcoin reached its top value of $1,145 in November of 2013, but fell as low as $178 last year. In addition, most of the headlines around bitcoin related to criminal activity. The FBI seizure of Silk Road and imprisonment of Ross Ulbricht highlights this regulatory crackdown.
But bitcoin rebounded in 2015. Bitcoin currently trades between a narrow range of $400 to $450 per bitcoin and remained out of the headlines. The stabilization over the last few years continues to entice investors, including Richard Branson and the investors behind BetCoin.
“It’s not long before fiat players [those playing with government-issued currencies, such as the Euro or dollar] in legacy casinos around the world see the attraction of Bitcoin. Our casino, and our multiplayer poker suite in particular, make BetCoin an attractive package for any player converting to Bitcoin.”
If the trends continue, then investors believe that other will see the benefits of bitcoin. The digital currency enhances security, improves transparency and increases payment processing. These are significant factors in the gaming world and online casino operators continue to notice.
If bitcoin continues to avoid the negative headlines, but remains in use, then investors such as the BetCoin funding team should see dividends in their foresight.