International Game Technology Plc, the world’s largest slot machine manufacturer, is looking at offering cryptocurrency as a payment option on casino games
On Tuesday, the company received a U.S. Patent and Trademark Office filings for a way to transfer cryptocurrency, like Bitcoin, between a player’s gaming-establishment account and an external cryptocurrency account. In the gaming account the crypto would convert to fiat currency after payment of a fee.
IGT spokesman Phil O’Shaughnessy said:
“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency.”
IGT’s patent filings include plans for a mobile app that would allow users to deposit and slot machines that will be able to facilitate actual bets. The proposed drawing also included a live bitcoin wallet address and shows how punters can move their crypto into their accounts.
Including cryptocurrency as a payment method will also help casinos cater to younger gamblers. The COVID-19 pandemic has increased interest in Bitcoin, especially among millennials, with about 44% of them planning to buy the currency in the next five years, according to the Tokenist’s October survey.
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