Crypto Boosts Growth of Poker Platform Americas Cardroom
Americas Cardroom was among the first online poker sites to embrace Bitcoin six years ago i.e., in 2015. And in a few months, the degree of acceptance began to increase, but Bitcoin represented for only 2% of their total revenue.
That shifted drastically as a result of the online poker site’s large investment to broaden their boundaries. Americas Cardroom increased the number of cryptos being supported to over 60 in 2017, and cryptocurrency currently represents more than 60% of their revenue.
That comes as no surprise. Despite the price fluctuations, the cryptocurrency market is massive, surging from $1.44 trillion to more than $2 trillion in the past few months.
A quick glance at their tournament history demonstrates that players have reacted in massive numbers. The inaugural 5 Million USD Venom, a multi-day online poker event featuring a 1 million USD GTD first-place prize, was hosted in 2019 by Americas Cardroom. The event drew a record number of players, leading to a sharp increase in the prize fund to $6,382,500.
Although several players used Bitcoin to finance their accounts, it was the procedure of cashing out that grabbed the eye of not only poker players, but also Guinness World Records. The tournament’s winner received a first-place reward of $1,050,560, which was settled in Bitcoin. Americas Cardroom now holds the Guinness World Record for the highest bitcoin winning jackpot in an online poker event thanks to that single transaction. Numerous players rushed to Americas Cardroom as a result of the tournament’s popularity and the significant Bitcoin headline bump, resulting in larger prize pools throughout the board. The stats speak for themselves.
The poker site conducted a $6million Venom tournament in November 2019, with a prize pool of $6,750,000. In 2020 and 2021, they held more Venoms as well as new Progressive Knockout Venoms. In some ways, these staggering figures may be attributed to Bitcoin and cryptocurrencies. When Americas Cardroom began to support Bitcoin, rival poker sites sneered at the idea, fearful that it would hurt their business line. The administration at Americas Cardroom, on the other hand, had a unique perspective. Americas Cardroom was committed to providing a poker room service that offers top notch experience to players and so the inclusion of Bitcoin was critical.
Americas Cardroom has been in the online poker game since 2001, so they’re no strangers to deposit and pay out difficulties. It was not hard to load cash into your poker account at Americas Cardroom or any of the competitors when the game was new. A user simply needs to utilize a credit card or a third-party platform like Neteller to complete the transaction. However, in 2006, the United States approved legislation made it unlawful for banking institutions to conduct credit card transactions connected to “illegal gambling” (the phrase was not defined properly).
With users facing multiple barriers, poker companies, notably in the United States, had to search for alternate deposit and withdrawal methods. With the advent of Bitcoin, the scenario went about a drastic change. Players can load cash to their accounts without looking for shortcuts or struggle with refused transactions as cryptocurrency transactions are secure and avoid the need for intermediates.
However, it extends well beyond the United States. Because Bitcoin is a worldwide phenomenon, Americas Cardroom welcomes participants from all around the world. As a result, Americas Cardroom is one of the world’s most varied online poker clubs. For those unfamiliar with cryptocurrency, it might be perplexing, but Americas Cardroom has done more than simply make it a payment option. The poker site has put a lot of work into educating players about Bitcoin. There are dozens of articles relating to almost every cryptocurrency that are existent in addition to instructions to assist newcomers who are just starting started.
However, using Bitcoin or any other of the major cryptocurrencies on the online poker site doesn’t really require high-tech knowledge. Players who wish to deposit straight using cryptocurrencies may do so by heading to the Cashier section of the Americas Cardroom poker app. After then, the poker site translates the player’s currency into US dollars. Poker gamers may then utilize their cash to play poker, play online casino poker games, or place sports bets. It’s just as simple for them to cash out their gains. The site transforms their US money into their selected cryptocurrency and transfers it to their wallet instantaneously.