Sacramento Kings, Overstock.com Begin Accepting Bitcoin

Americas Cardroom, the Sacramento Kings NBA franchise and Overstock.com all have begun to accept the anonymous digital currency bitcoin.

Americas Cardroom is the largest online gambling site to date to start accepting the currency, which is currently valued around $850 and fluctuates wildly at times.

Overstock.com is one of the biggest online retailers to start offering bitcoin transactions.

On Thursday, it was announced that the Sacramento Kings, owned by the Maloof Brothers who also operate the Palms Casino in Las Vegas, will begin accepting bitcoins for merchandise purchases.  They are the first major sports franchise to do so.

The Kings announced Thursday that fans will be able to buy gear from the official team store and pay for tickets with the digital money beginning March 1. Purchases will be processed through BitPay, which accepts the digital dollars and pays the Kings in cash.

Kings owner Vivek Ranadive said the new payment method is part of his model for "NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships."

For those looking to bet on the Kings, BetBM.com offers bitcoin sports betting.

- Aaron Goldstein, Gambling911.com