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Bitcoin vs Fiat Currencies in online Gambling: No Mercy for the banks

If only you knew how wasteful and inaccessible is to gamble online and make sports bets using fiat money.

Indeed, there is more than one reason to ditch traditional money system and shift to Bitcoin instead.
The transaction fees applied on your BTC payments on online gambling are minimal. Now, for every deposit made on a fiat-money casino , you will be charged up to 5% , and it’s a kind of daylight robbery. And this doesn’t really end there, as, being a player from the U.S. you may also expect some ‘conventional’ off-shore gambling websites to ask for an additional fee for sending you your winnings. Bitcoin can sort it all out for you, that’s for sure.

operators of Bitcoin-powered gambling portals can cut down on banking and processing expenses,
on traditional online casinos players have to wait for ages until payout process completed. Using bitcoin you’ll get your money within an hour, or even a couple of minutes.
Well, let’s face it: just like any other big business, the industry of virtual gambling can’t go without scandals and controversies, many of them related to fraud and casinos hoodwinking their customers. You’ve heard a lot about various cases of scam in the media, and there is no doubt this all brought much discredit to virtual gambling as such. Bitcoin saves the day again! For one thing, every single Bitcoin transaction made is automatically recorded in the blockchain, the all-encompassing data ledger of the system. But, actually, even the fairness of all your outcomes in a single game can be verified, too, using special built-in ‘provably fair’ mechanisms and algorithms. Honestly speaking, there are somewhat too few BTC gambling portals offering this functionality these days, but, on the other hand, it is ignored completely by conventional online casino operators. Any reasons for that?