Bitcoin dice and other types of gambling are still seeing excellent growth according a recent survey by an Irish company. The study made by the Bitcoin Marketing Team which surveyed 770 digital currency users from 68 countries has discovered that Bitcoin still maintains its popularity as a gambling medium. This was just one of the findings reported by the study in the Irish Independent.
Bitcoin gambling still going strong
Jamie McCormick, the survey coordinator, has noted that the survey determined that around 44 percent of respondents used Bitcoin for gambling. The most popular gambling sites for Bitcoin gamblers were dice sites closely followed by sports betting and casino games.
Bitcoin is expected to continue growing with the recent changes made by the UK Gambling Commission (UKGC). This change means that cryptocurrencies such as bitcoin were now to be considered a cash equivalent that its licensees can accept as a payment method. Other licensing commissions like the Malta Gaming Authority have been hesitant about adopting Bitcoin, but the UKGC’s move is considered to be a good sign at further adoption by the public and other regulatory bodies.
Other study results
The Bitcoin study also touched on other aspects of Bitcoin usage. One of the more troubling findings was that one in six Bitcoin users worldwide have lost money to hackers and exchange shutdowns. Thousands of dollars of bitcoins have been lost or stolen through hackers or with users losing access to their online wallets.
A lot of the respondents have stated that though they like the freedom of Bitcoin, they were still wary about hacks, exchange shutdowns, and technical issues. Bitcoin still retain its popularity though because it is still seen as revolutionary way of doing business, with the added advantage of being fast and anonymous.
Another aspect of Bitcoin that the survey explored was the composition of the users. The study discovered that the market is still very much dominated by men. Bitcoin users are mostly in their early 20s to their late 40s, with a few being under the age of 18.
“Active efforts were made to target female bitcoin users to attempt and have a balanced number of responses. But despite sustained efforts and targeting advertising campaigns, only 5.7pc of responses came from females, 2.5pc chose not to specify, with the remaining 91.8pc being male.”
Overall, Bitcoin is doing quite well, but the specter of hacking and data breaches hangs over it, as well as the need to correct the gender imbalance in its user base. This, however, does not affect the popularity of playing dice with Bitcoin, as well as of other Bitcoin casino games.