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Crypto and Poker: It’s Coming

Written by:
Payton
Published on:
Aug/06/2018

Bitcoin, Ethereum, Litecoin, the list of cryptocurrencies now in play is seemingly endless. But with so much digital currency floating about, it begs the question “when will the world of poker ever embrace crypto?” Well, the answer is sooner rather than later.

Now, don’t get too excited thinking that you’re going to rock on up to Caesars Palace and start playing with your Bitcoin. While cryptocurrency is on the way, it’ll be some time yet before we see “Bitcoin accepted here” signs at the tables. However, there are signs that it’s on its way.

Take The D Casino Hotel, for example. This Vegas hotel is one of two hotels in the city that have Bitcoin ATMs on-site. The D along with its sister hotel The Golden Gate has ATMs that allow you to sell your Bitcoin for cold hard cash, which you can then use at the casino. While neither hotel will allow you to gamble with your crypto, they will allow you to pay for your room, and The D will even let you pay for your meal in the restaurant with Bitcoin, too.

Okay, so, this isn’t all that exciting, but it does show us that the gambling industry is starting to take note of the public demand for cryptocurrencies. So, is there anywhere that you can play poker with digital currency? Why, yes, there is, and it’s an online poker platform called CoinPoker.

Now, before you dismiss this as another start-up cashing in on Bitcoin fever, listen to this: CoinPoker is a poker platform built on blockchain technology. Players on this platform use a dedicated coin called Chips (CHP), which is a pretty cool name if you ask us. The idea is that the platform offers players the security of blockchain technology combined with the convenience of digital currency without the fluctuating values of the ever-volatile Bitcoin.

And it’s popular. Since their launch, they have been quite busy hosting online tournaments and letting their players do what they do best: play poker. In fact, CoinPoker has gained such traction that they are sponsors of the Asian Poker Tour, which, as you can imagine, is a big deal. 

But where CoinPoker is making innovative moves in the world of poker, the rest of the industry heavyweights are dragging their heels. Paying for rooms with crypto or having an ATM in the lobby is all well and good, but it’s time to take the next logical step and embrace the currency that the world is now accepting.

As far as we can see, CoinPoker’s success will result in one thing and one thing only: a piqued interest in crypto at the tables. The demand is there for a poker platform that accepts cryptocurrency, so it's only a matter of time before the rest of the world joins in. We all know only too well how closely both the online and live poker worlds are connected, and so, it stands to reason that if online players want it, then so too will players at casinos.

What is needed (and what may happen) is for a WSOP event to accept cryptocurrency. It doesn’t need to be the Main Event, just one of the qualifiers. And once a WSOP-sanctioned event goes crypto, the floodgates will open. The question now is “when will it happen?” It’s an inevitable marriage of a game and a form of currency, and we can’t wait. Yes, poker and crypto are coming, it’s only a matter of time.  

 

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