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Slot Machines Could Soon Accept Crypto Payments

by Carolina Lynch
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Bitcoin and cryptocurrency adoption is on the rise across industries, and major players in every field are actively implementing cryptocurrency as a payment method to facilitate enhanced services to their customers. Now Gamers can use cryptocurrency in slot machines with ease.

International Game Technology Pls may soon allow the gamblers and gamers to use cryptocurrency as a payment method in slot machines.

International Game Technology Brings Crypto Payments On Slot Machines

As per the news, the firm has received a patent for its methodology through which it can quickly transfer cryptocurrency from a cryptocurrency account to a gamers account.

 With this patented method, the users would transfer Bitcoin from their crypto wallets to a slot machine via their mobile phone apps.

The process would make it easier for gamblers to use their Bitcoin for gambling on slot machines without using Bitcoin ATMs in casinos.  IGT Spokesperson Phil O Shaughnessy said that the patent would  “bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency,” the innovative payment method would allow new age gamblers to utilize their Bitcoin holdings for gambling and thus giving a fantastic boost to the clientele of casinos. There is an increase in cryptocurrency adoption amongst the young generation as fiat currencies continue to struggle in debilitating post-Covid Pandemic economies.

IGT said that the Casinos would see a new era of cashless gaming with its Resort Wallet carded cashless module. The patent is in the final stages of regulatory approval by the Nevada state and, once completed, would be able to be deployed throughout the Casinos in Nevada state. This would provide a seamless and effortless slot gaming experience to gamblers.

Las Vegas in Nevada is the gambling and casino capital of the world with the flashiest and most exuberant gambling venues. The casinos in the city are the first to adopt cryptocurrency since 2014. As the demand for BTC increases massively, IGT’s new patent would give a boost to gambling. Nevada state is looking to explore cashless payments across its Casinos; last year Nevada Gaming Commission said that they are planning to evaluate the validity of cashless payments. While major financial players like PayPal and CashApp are facilitating advanced cryptocurrency transactions to users, it is more likely that Bitcoin and crypto would see wider mainstream implementation.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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