While cryptocurrency investors are seeing a saddening slump that is leaving many depressed about the current state of the crypto market, it seems that the crypto poker crowd has not gotten the memo. Despite lackluster prices, this industry is using cryptocurrency for what it was really meant for, transfer of value. Some of these poker platforms like the Winning Poker Network have reported that as much as 60% of their deposits now come from cryptocurrency, and that number is growing. In fact, the gambling industry might be one of the only niches still focused on using cryptocurrency for its intended purpose.
While investors panic sell their portfolios to the lowest bidder, trying in vain to recoup losses from their previous highs, poker players are buying up those cheap coins at a growing rate. They are of course looking to make quick gains from cryptocurrencies as well but in a different way; hoping that a stellar hand will net them a big pay day instead of riding the latest ICO until its momentum peters out. Casino operators have gleefully reported that the slump has not caused a reduction in betting using these alternative currencies. In fact, the average size of the bets seems to actually be increasing. There’s a pretty simple reason for these findings. Online poker is simply one of the most spot on use cases for cryptocurrency ever, and everyone involved is excited about it.
While investors panic sell their portfolios to the lowest bidder, trying in vain to recoup losses from their previous highs, poker players are buying up those cheap coins at a growing rate. They are of course looking to make quick gains from cryptocurrencies as well but in a different way; hoping that a stellar hand will net them a big pay day instead of riding the latest ICO until its momentum peters out. Casino operators have gleefully reported that the slump has not caused a reduction in betting using these alternative currencies. In fact, the average size of the bets seems to actually be increasing. There’s a pretty simple reason for these findings. Online poker is simply one of the most spot on use cases for cryptocurrency ever, and everyone involved is excited about it.
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