The Bitcoin Series: Part 2; Bitcoin and Poker: Who all are onboard and why?

sealswithbitcoinsBitcoins are a form of virtual currency which is attracting poker players and gaming companies for financial transactions in a big way. This decentralised form of currency was first introduced in 2009 by Satoshi Nakamoto. Bitcoins essentially run on an open source platform which is operated by the public and uses peer to peer computer coding. But not all poker rooms are using this virtual currency as of now owing to its value volatility and cyber security issues.

While none of the Indian poker rooms accept bitcoins in the wake of the Reserve Bank of India’s warning against use of bitcoins and other such virtual currency, some of the international poker rooms accepting bitcoins are:

  1. Seals with Clubs was one of the first bitcoin poker site that was essentially created in the aftermath of Black Friday in 2011. It offers bitcoin pokr to both EU and US players and is also poker room offering bitcoins.
  2. Switch Poker: Switch has several lower stakes offering for bitcoins poker. With a steady growth in traffic, Switch also offers other deposit options including Moneybookers but is not available for US poker players.
  3. Win Poker: Win is a part of the iPoker Network and one of the biggest poker rooms offering bitcoin poker. Available currently only for EU players, Win features a great poker software and interesting promotions.
  4. Americas cardroom: This is the newest bitcoin poker room by the Winning Poker Network. Another online poker site with steady growth in traffic caters to US and EU markets.
  5. Infiniti Poker: Launched in beta in 2013, Infiniti now offers bitcoin poker from Jan 1st, 2014.
  6. Two offshore casinos in Las Vegas namely D Las Vegas Casino Hotel and Golden Gate Hotel and Casino became the first casino properties to accept bitcoins in Jan 2014.

Why play on Bitcoin exclusive poker sites?

  1. US Poker players: Bitcoins poker sites are finding favour amongst US poker players. Since Black Friday happened, US players were left with little options for playing online poker. With bitcoins sites, these players can now get to compete with other players from around the world also and not play in New Jersey and Nevada  state specific online poker rooms.
  2. Less Fees: Transferring bitcoins between your online poker account and bitcoin wallet is free of charge. The only fee is charged when bitcoins are bought/sold.
  3. Low Rake structure: To stay competitive, bitcoin poker sites have started very competitive rakes for their poker rooms. With low rakes, players benefit while playing in these sites.
  4. Suited to low stakes: Currently bitcoin poker is available at low stakes only, so players with low risk appetite who wish to stay anonymous and play can play with ease at bitcoin poker sites.