Bitcoin has seen a great adoption rate when it comes to online services. Whether you want to purchase physical or digital goods, subscribe to paid services or play online games, Bitcoin is usually a possible payment method.
In some of these aforementioned areas however, this can be a painstakingly slow process. As you may have guessed from the article title, I want to discuss the usage of both Bitcoin and Lottocoin when it comes to online gambling.
Let’s say you are the owner of an online gaming site. Some site like… Oh I don’t know, SealsWithClubs? Just as an example, I’m not looking to attack anyone here. But it is a popular site supporting Bitcoin, so it will be a good example.
You have a big time gambler coming to your site, with quite the bankroll to spend. He or she deposits 10 bitcoin for starters. A very attractive amount which may or may not last a long way when it comes to gambling online.
This is where one of the first, albeit probably minor, issues comes in. Depositing funds will take a few minutes at best, and over half an hour at worst case scenario. For the site itself, this is nothing to worry about. Or is it? What if it takes so long that, when the deposit finally arrives, the player is so fed up of waiting that he or she immediately withdraws again without playing any game?
Should this happen, there is always a chance that said player will come back. It might be a one-off. Either way you look at it, it’s bad press. Not because of your fault as a site owner, but because of the slow Bitcoin network. It would be good if you had an alternative cryptocurrency to accept as payment method, wouldn’t it?
This is where Lottocoin would be a perfect fit. Transaction times are a lot faster compared to Bitcoin, meaning a big, if not complete, reduction of players leaving because of deposit delays. Even though this number might be neglectable in the grand scheme of things right now, you never know what kind of money your site might be missing out on.
Bitcoin has been a lot in the news lately , and not always in a good way unfortunately. Especially when it comes to online gambling, the last thing you need is bringing unwanted attention to your website. Accepting Lottocoin as a payment option is as easy, if not easier, than accepting Bitcoin.
The fact that Lottocoin is already the most frequently used currency on RapidBalls, a very established provably fair website, also counts for something. It is a sign of things to come for the online gambling community. So why wait? Outshine the competition by enabling Lottocoin as a payment method on your site starting today!