IGT patents method for cryptocurrency transfers

Category: Blockchain

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 Bitcoin | SiGMA Newsbets. 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 

Source: Coindesk

About AIBC:

AIBC Summit is a global expo covering topics relating to the global sectors for blockchain, AI, Big Data, IoT, and Quantum technologies. The event includes conferences hosted by globally renowned speakers, workshops for industry learning and discussion, an exhibition space accommodating more than 400 brands and a number of networking events.

Top Crypto Exchanges