The role of Bitcoin gambling in the spread of the currency

Although the word gambling has a quite negative connotation, it is very important for the popularity of sports leagues, related events, and even more vital for Bitcoin currency and its development.

One may like it or not but there are betting sites and online casinos emerging every day and by attracting thousands of users, they speed up adoption of Bitcoin.

How does it happen?

Do you remember ever wagering your friend that you could do something he said you couldn’t or just were completely sure that the thing he said wasn’t true? Do you remember the sudden change from a simple argument to an emotional rivalry? That’s how.

Market in numbers

This rivalry phenomenon is rapidly growing in the age of the internet and not using the power it provides would be a mistake. The online gambling market is estimated to reach the value of over 45 billion USD this year. Bitcoin’s market capitalization is around 6.5 million USD. Taking even a small chunk of the gambling market can make a real difference. A difference that could be greatly appreciated by the users, miners and companies accepting or thinking about using Bitcoin in the future.

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Adding the value

Bitcoin is predicted to grow further, but to do so it needs viable businesses spreading the word and gaining trust outside the closed and still rather small community. There should be more exclusive services and products available to be bought only with Bitcoin with some added value offerings. As to gambling, is there a better way to convince someone to use Bitcoin than by giving him fun, emotions and a chance to win more than he already has?

I encourage you to take a closer look at the gambling market and how it can provide real value to the growth of Bitcoin community in the future. There’s no need to treat it as a foe, it can just be the answer we are looking for.

Eric Baker, Blockchain enthusiast exploring cryptocurrencies since 2011. Currently focusing on Bitcoin because of its chances for adoption. Professionally, a Brand Manager atOneHash.com.