Home News Bitcoin slot machines? A patent might make them a actuality

Bitcoin slot machines? A patent might make them a actuality

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Worldwide Sport Expertise Plc acquired a patent on Tuesday that might let gamblers use bitcoin at slot machines.

Worldwide Sport Expertise Plc, the world’s largest maker of slot machines, could also be providing cryptocurrency as a cost choice on on line casino video games like Megabucks and Wheel of Fortune.

On Tuesday, the corporate acquired a patent for a strategy to switch cryptocurrency between a participant’s gaming-establishment account and an exterior cryptocurrency account. Which means gamers might transfer Bitcoin into their digital wallets on a slot machine utilizing their telephones.

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any doable future course in regulated gaming involving cryptocurrency,” stated firm spokesman Phil O’Shaughnessy.

Such a transfer would assist casinos cater to youthful gamblers. The Covid-19 pandemic has elevated curiosity in Bitcoin, particularly amongst millennials, with about 44% of them planning to purchase the foreign money within the subsequent 5 years, in keeping with the Tokenist’s October survey. At Caesars Palace in Las Vegas, a 3rd of friends are between the ages of 21 and 40, in keeping with IGT.

Driving cryptocurrencies’ reputation is the latest rally in costs. Bitcoin greater than quadrupled in worth final yr and lately hit a brand new excessive. Whereas Bitcoin isn’t extensively utilized in transactions, some customers have been identified to purchase costly vehicles, homes and boats with the cryptocurrency. It’s additionally used on on-line poker websites and in a slew of playing apps.

Till now, cryptocurrency lovers have needed to convert their holdings into money at particular crypto ATMs on on line casino flooring earlier than wagering. However final yr, the Nevada Gaming Fee made it simpler for casinos to introduce cashless methods, letting gamers switch funds from smartphones to gaming machines straight. On Tuesday, IGT introduced that it’s gained regulatory approval for utilizing cashless wallets on slot machines. It lets gamers use a Resort Pockets loyalty card to deposit funds into slot machines.

(Updates with remark from IGT in third paragraph.)

–With help from Susan Decker and Christopher Palmeri.