IGT Files Patent for Cryptocurrency Payments
International Game Technology (NYSE: IGT), one of the world’s leading developers of casino games and related technologies, has just patented a way to pay for bets using cryptocurrencies such as Bitcoin, Bitcoin Cash, and Ether.
While the company is yet to publish details of how it will be integrating the cryptocurrencies, the new patent will allow those who possess any of the three cryptocurrencies to gamble with them. According to the patent filed with the U.S. Patent and Trademark Office, the method will make it easy for players to transfer cryptocurrency into their gaming accounts, where it would then be converted to a traditional fiat currency for a fee.
The patent filings include diagrams of mobile phone applications for making deposits with cryptocurrencies as well as slot machines that would accept the bet. There is one diagram that includes a live Bitcoin wallet address that belongs to IGT but has not yet been used.
The filing means that IGT could now implement a method for making cryptocurrency payments on any of its digital platforms. With IGT tech behind a huge number of games, lotteries and sports betting platforms, this could have widespread implications.
Furthermore, IGT also recently announced that the Nevada Gaming Control Board has approved its plans for cashless betting systems that allow players to place bets at slot machines and table games using their phone rather than casino chips or physical money.
More Technology News
RELATED TOPICS: Technology
Latest News
Most Read
Las Vegas Sands Eyes Thailand, Other Southeast Asian Markets after New York Delays
Apr 18, 2024Must Read
Interviews
Mikki Mase – The Gambler Who Beat Vegas and Changed the Course of Gambling Forever
Apr 18, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for IGT Files Patent for Cryptocurrency Payments