20.10.2021

Slot Machine Manufacturer Wants To Implement Cryptocurrency Support

According to the US Patent and Trademark Office, International Game Technology (IGT) has received a patent for a system that will allow players to transfer cryptocurrency to a “gaming house account.”

The patent application mentions payments in Bitcoin, Bitcoin Cash and Ether. Coins are cited as an example of how users will be able to fund their gambling accounts using crypto in the future. Let us remind you that IGT is the largest manufacturer of slot machines in the world, which means that the prospects for the event are enormous.

Note that cryptocurrencies and slot machines have already been linked before, but only in isolated cases. For example, in a pub in the English city of Leeds, there is a retro device with the popular game Space Invaders. It is free to play, but users are rewarded for outstanding success in cryptocurrency. We are talking about the Nano coin, which today is in 55th place in the overall rating of coins.

Casinos in the blockchain world

The news was commented on by IGT spokesman Phil O’Shaughnessy. Here is a line that reflects the company’s position. The statement is quoted by Cointelegraph.

IGT received this patent to solidify its industry-leading portfolio of patents in anticipation of any possible future direction of regulated cryptocurrency gambling.

That is, experts admit that cryptocurrencies will be actively used in this industry in the near future. Accordingly, players will go to the devices and replenish the gaming devices and replenish the balance from their own cryptocurrency wallet in a suitable coin.

We believe that doing this is quite dangerous, because in this case, attackers can find out about the person’s connection with the coins. Well, if he also wins big, the attention to the overall balance of the player’s savings will be even higher.

The patent news emerged the same day IGT announced it had received regulatory approval in Nevada for players to use a solution called Resort Wallet for making non-cash slot machine deposits. The company cited the coronavirus pandemic, saying it provides “fewer contacts and safer” gameplay.

By the way, Las Vegas casinos were among the first to use cryptocurrency. In 2014, The D Las Vegas Casino Hotel and Golden Gate Hotel and Casino announced that they would accept Bitcoin in their stores, but not in the gaming hall. However, in the past year, the demand among Winning Poker Network players seeking bitcoin payouts has skyrocketed. The network representatives said they are distributing more than $ 160 million in crypto every month.

In other words, digital assets permeate all areas of human life, including gambling. A new patent from IGT should save players the hassle of converting coins in casinos, allowing them to place bets right in the crypt. This is a big step in the popularization of Bitcoin and altcoins in the gambling industry.

We believe that the use of cryptocurrencies in gambling halls will create security risks for coin holders. However, the overall trend is positive. Firstly, a wide audience will learn about the peculiarities of cryptocurrencies and will probably be interested in them. Secondly, the innovation will definitely be appreciated by game lovers who travel to another country for the next session. In this case, they will not have to convert money or engage in other inconvenient matters.

Hopefully, over time, the list of industries related to cryptocurrencies will only grow. Thus, the scope of application of blockchain assets will be able to grow significantly.

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