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IPFS News Link • Bitcoin

Digital Poker Sites Say '95%' Of Players Demand Payouts In Bitcoin To 'Enhance' Winn

• by Tyler Durden

But to sustain this type of a move, larger institutional players are necessary to ensure that demand never slackens, or else the volatility for which the pioneering cryptocurrency is infamous could come roaring back. Well, a reporter with Bloomberg who apparently set out to identify some of the big players in the market has made an interesting discovery: For years now, digital poker websites have been a constantly growing source of demand for the cryptocurrency, since customers often prefer to cash out in bitcoin, instead of USD, or some other currency.

While the percentage of customers dealing in crypto was roughly 60% last year, that percentage has grown to 90%+, forcing poker companies to work out pricey OTC deals with brokers. Phil Nagy, the CEO of Winning Poker Network, a Costa Rica-based operation that runs some of the world's most successful poker websites, told Bloomberg his company is buying millions of dollars' worth of crypto per day.

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