The Bitcoin gaming industry is moving forward at full speed these days, with more and more operators opening up their doors and attracting new clientel to the thrilling world. The traffic and revenues increases year-by-year and all the larger sites has experienced an increase in revenues.
One of the current obstacles in the Bitcoin gaming industry however, is that most sites that are currently online are very specialized in one specific type of gambling, rather than diversifying. Initially we saw this with the Bitcoin dice sites that only offered dice games, then Bitcoin poker sites just offering one or two types of poker and so on.
In order to be able to move more traffic away from the fiat-currency gaming industry, operators in the Bitcoin gaming industry needs to be able to diversify and integrate products that players wants to play, to get them to continue playing in their site at all times.
It is very common for the major sportsbetting sites to both offer poker, casino, live casino, bingo, sports betting and even financial trading similar to binary options. Finding sites in the Bitcoin industry that offers more than one or two of these products is rare and those that are there currently may not have the experience needed to really take it to the next level.
This is about to change however, as one of the leading Bitcoin gaming platform providers Coingaming will be launching their Bitcoin-only sportsbetting platform on August 8th, right when the Premier League starts.
This means that Coingaming can now offer at least the full standard suite of products for their operators, which includes poker, casino and live casino as well as sportsbetting. Integrating these products will make it easier to attract new clients and convert fiat-money players to Bitcoins if the advertising is done correctly.
The betting platform has been designed by Coingaming to maximize the revenues and profit streams for the operators integrating it. It has also been created with Bitcoin in mind, ensuring that it seems natural for Bitcoin users to use.
Mark McGuinness, Communications Director of Coingaming, said: “The underlying bitcoin sportsbook technology shall offer significant advantages over traditional fiat currency based fixed-odds platforms. We have over 10,000 live betting markets on offer per week, including fast developing betting sports such as MMA and eSports. Benefits for the player include the ability to place larger bets on events on any device with better odds, instant deposits and cash-outs. These features will appeal to young smart, mobile focused sports bettors that demand instant gratification.”
The sports betting market is currently seeing a lot of investments from Bitcoin operators, as it is one of the biggest revenue streams in the iGaming industry. There are million of bettors betting on a daily basis and many are not happy with the restrictions that traditional bookies put on them, which would make the Bitcoin sportsbetting product very attractive to them.
Coingaming did not announce if any of their current partners will be integrating the sportsbetting platform.