The next generation of gamblers is tech-savvy, mobile, and accustomed to services that operate at the speed of light. They are primed to accept emerging technologies and even expect that each industry will continually reinvent its tech. Lewski points to this mostly millennial segment of the gambling market as the group bringing Bitcoin into the mainstream.
Bitcoin is easy for many sportsbooks to overlook. Despite the fact that online gaming and bets made in cryptocurrency exceeded 1.5 million BTC in 2016, Bitcoin is still a small portion of the online gambling market. EdgeFund estimates bets made in cryptocurrency will increase by 10 percent in 2018, with a market cap as high as $30 billion. Lewski predicted this trend was on the way as far back as January 2017.
As the executive director of Digitial Sports Tech, a next-generation sports betting platform, and technology provider, Lewski identified Bitcoin operator Sportsbet.io as a unique opportunity to get DST’s products into new and emerging markets. “This deal is the first we have signed with a Bitcoin operator. It will help us significantly expand our geographical footprint in additional markets and put our product in front of new players,” said Lewski early last year.
Bitcoin offers several advantages for businesses that engage in e-commerce, especially companies in the gambling industry. Lewski says it all comes down to the blockchain, which serves to eliminate risk on both ends of a transaction. Blockchain technology reinforces fairness in all Bitcoin transactions, providing both security and privacy. It also operates at millennial speed, allowing for immediate deposits and withdrawals.
With Bitcoin gambling, the days of entering one’s personal banking information to register at an online betting site are over. Players can begin placing bets with just a username and password. Anonymity is made possible, while tampering and forgery are made impossible through the use of a genius mathematical signature system.
For cryptocurrency-accepting and Bitcoin-only sportsbooks, DST’s tech products are an obvious choice. Lewski’s commitment to industry-leading tech ensures DST innovative products such as their Bet Builder offer streamlined betting solutions that match the speed of a Bitcoin, business model.
“We are seriously impressed with the scale and scope of Player Props, which continues to grow as DST adds new bet types and sports. It underlines Sportsbet.io’s commitment to innovation in the sports betting and Bitcoin space,” said Chris Uren, Head of Sportsbook at Coingaming.io.