{"id":4354,"date":"2020-11-24T17:02:24","date_gmt":"2020-11-24T17:02:24","guid":{"rendered":"https:\/\/www.top10pokersites.net\/news\/?p=4354"},"modified":"2020-11-24T17:02:24","modified_gmt":"2020-11-24T17:02:24","slug":"bitcoin-price-surge-is-helping-online-poker-players-increase-their-winnings","status":"publish","type":"post","link":"https:\/\/www.top10pokersites.net\/news\/bitcoin-price-surge-is-helping-online-poker-players-increase-their-winnings","title":{"rendered":"Bitcoin Price Surge Is Helping Online Poker Players Increase Their Winnings"},"content":{"rendered":"
The most popular cryptocurrency being used by online poker players is Bitcoin<\/a> (BTC). Bitcoin has witnessed another massive spike in value during the last few months and as a result, some online poker operators have had to buy millions worth of Bitcoin on a regular basis to meet cashout requests from players. <\/p>\n Among the sites reporting a massive increase in Bitcoin payouts in recent weeks is Winning Poker Network<\/strong> (WPN), one of the world\u2019s largest online poker networks that supports numerous sites such as Americas Cardroom<\/a>. <\/p>\n The company\u2019s Chief Executive Phil Nagy<\/strong> said that a huge majority of their players (90-95%) are now requesting payouts in Bitcoin as the virtual currency closes in on an all-time high. Because of this, they needed to constantly buy Bitcoin more than they\u2019ve had to before, and now over 60% of their transactions are done via the cryptocurrency. <\/p>\n That translates to around $100 million per month. As the demand skyrockets, brokers are also taking advantage, charging premiums of as high as 1.5%. Bitcoin has consistently gone up since March 2020, climbing as high as $18,479 last week, about 60% up on October. <\/p>\n