Fueling Bets With Bitcoin by Billion-Dollar Gambling Titan Patents Way

A new way to use Bitcoin and other cryptocurrencies in the gaming industry has been patented by Gambling Software Goliath International Game Technology (IGT).

In its filing with the United States, The multi-billion dollar corporation Patent and Trademark Office creates a system that allows digital assets to be transferred and exchanged from players’ external cryptocurrency account to their gaming establishment account.

The patent, issued to IGT on Tuesday, allows players to use Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash to pay for their bets (BCH). IGT also defines the initiatives to promote fund

To facilitate the transfer of cryptocurrency funds to a gaming establishment account, such as a cryptocurrency wallet created by the gaming establishment and linked to the player, and to verify that they are linked to an external gaming establishment account, a player takes one or more measures to specify the gaming establishment account as the destination of the cryptocurrency fund transfer.

Similarly, to facilitate the transfer of cryptocurrency funds from a gaming establishment account to an external cryptocurrency account, a player takes one or more actions to identify an external cryptocurrency account, such as the same account from which the cryptocurrency funds were transferred, as the destination of the transfer of the cryptocurrency fund and verify that they are associated with a gaming establishment account.

The framework enables digital currencies to be as accessible as other currencies, IGT says, offering players more choices for interacting with a gaming institution.

The company adds that the system facilitates mobile devices for the transfer of money, which addresses cash-based gaming and ticket voucher-based gaming protection issues and labor costs.

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