Tonybet.com, an online betting and gaming site, has started to allow players to make deposits in bitcoin, then convert the funds to regular currency while playing, the company announced on its website. TonyBet is managed by Tonybet OU in Tallinn, Estonia and is licensed and regulated by the Estonian gaming authorities.
Tonybet.com has partnered with the SpectroCoin cryptocurrency wallet in hopes of becoming one of the first well-established gaming sites to accept bitcoin. Players will be able to deposit and withdraw funds in bitcoin, but will convert them to regular currencies while in-play – a feature that is absent from most gaming sites accepting digital currencies.
Founder Promotes Bitcoin In Europe
Tonybet was founded in 2009 by businessman/politician Antanas Guoga, better known as Tony G, a member of European Parliament (MEP), according to CalvinAyre.com, a gaming news website. Tony G is “putting his money where his mouth is” when it comes to virtual currency.
Speaking at the Internal Market and Consumer Protection (IMCO) Committee Meeting at the European Parliament this past spring, Tony G encouraged his fellow politicians to purchase bitcoins before creating laws that govern their use.
Tonybet also accepts bank transfers, credit cards, and numerous other online payment methods.
Tonybet officials said their intention was to make the site more accessible to a broader range of players. The introduction of the new payment method delivered a bigger impact than officials expected based on the number of new members.
Also read: How to gamble online with bitcoin
Bitcoin Draws More Customers
“We’re always keeping up with the latest digital innovations in order to adapt them to our online gaming platform,” said Warren Lush, Tonybet spokesperson. “With the introduction of bitcoin deposits, we saw a dramatic increase in recreational punters and poker players, especially from the Asian countries who have been struggling to transfer their funds before.”
Another benefit from bitcoin is that players can speculate the exchange rates and earn more money, Lush said. In addition, the fast and simple deposit and withdrawal makes playing easier.
In partnering with SpectroCoin, the site has been able to open its casino, poker site and sportsbook to players who want to use digital currency for online gaming. It also encourages existing customers to experience the benefits of using bitcoin.
Featured image from Shutterstock.