The integration of digital currencies and blockchain into the world of gambling continues to grow as more companies see the benefits of the technology. As it stands, several retail and online gambling businesses already allow their users to deposit funds and withdraw their winnings using crypto. That was just the beginning though.
Now even companies that were left behind are joining the bandwagon. The latest to do so is International Game Technology Plc, a renowned slot and casino technology developer. The company has built up quite the reputation for being an innovative developer of world-class products and it is about to extend its reach by adopting crypto.
According to recent industry reports, the company kicked off 2021 by patenting a method for crypto users to add funds into their casino gaming accounts. The United States Patent and Trademark Office received the patent for a system that will allow any player who has crypto to add those funds directly into their accounts.
High Hopes for Crypto and Cashless Payments
As mentioned earlier, crypto is certainly moving at a pretty fast pace. As such, it is pretty easy to see why IGT is already doing what it can to ensure that it does not remain behind. This new patent will likely play a huge role in bolstering the gaming solutions developer’s already polished portfolio.
The patent filing shows that the crypto payments will be in Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH), all of which are arguable the most popular digital currencies on the planet. Starting with them is, of course, very logical but we are very optimistic that even more digital currencies will be supported when IGT eventually moves on to the next stages with its patent.
Perhaps the most notable push for this development is the growing demand for cashless payment systems that grew immensely since the start of the COVID-19 pandemic. IGT has even recently announced that it received regulatory approval to allow players in the state to use its Resort Wallet to make cashless deposits when playing slots.
It is, however, not all about reducing contact and allow for safer experiences during such times. The direction that regulated gaming is taking in the United States as well as in other global markets is possibly going to involve crypto. That said, International Game Technology’s early moves will be very beneficial to its plans for the very dynamic and rapidly growing gambling industry.
