Americas Cardroom announced in a press release that the poker site has plans to soon accept more than 60 cryptocurrencies, including Bitcoin, for player deposits and withdrawals.
The US-facing poker site will begin offering a payment processor for cryptocurrency deposits “in the coming weeks,” at soon after the site will be set up for handling withdrawals in the same manner.
Michael Harris, a spokesman for ACR, the top poker site on the Winning Poker Network (WPN), said in a press release that the addition of “crypto” will make it “easy for new poker players to deposit and get in the game.”
WPN’s other sites, including Black Chip Poker, will also provide the new deposit and withdrawal method. The world’s fifth largest network of poker sites will become the first to offer funding options using virtually all 60+ cryptocurrencies that currently exist.
Online Gaming’s Future?
The days of only using traditional credit cards and bank transfers to fund an online poker account are gone. As more poker players begin investing in cryptocurrency, the desire for more poker sites to add this transaction method arises. And Americas Cardroom isn’t the only one.
Virtue Poker, a new online poker site based on the cryptocurrency Ethereum, is set to launch next year. High-stakes pros Brian Rast and Dan Colman have been hired as advisors and brand ambassadors.
Established online sites such as BetOnline and Ignition Poker already accept Bitcoin transactions. Two downtown Las Vegas casinos, Golden Gate and the D, also accept Bitcoin.
Antanas Guoga, aka Tony G, has been a longtime proponent of cryptocurrency for online gaming, and recently joined the advisory board of Bankera, a financial services provider built around blockchain technology, the underlying infrastructure that makes Bitcoin, Ethereum, and other digital currency exchanges possible.
Growing Acceptance, Increasing Popularity
“We’re seeing a wider acceptance of cryptocurrencies, both online and live,” Harris said, pointing out that the upcoming Punta Cana Poker Classic in Costa Rica will be the first land-based poker tournament to welcome Bitcoin for deposits and withdrawals.
The growing acceptability and market popularity of cryptocurrencies has seen their value soar. Five years ago, a bitcoin could be exchanged for about $10. Now the price of a single bitcoin is about $3,600, which admittedly is down nearly $1,000 from just three weeks ago. Ethereum units cost less than $1 two years ago, and currently trade for about $260.
While volatility and the threat of collapse are concerns for many in gaming, it also explains why ACR may be hedging its bets by inviting all forms of the growing digital coinage to deposit on the site.
“This is the future,” Harris said, “and while we can’t predict which currency is going to emerge as market leader, we’re happy to be a part of the movement that’s making cryptocurrencies mainstream.”