No iGaming Site Went All in With Cryptocurrency Like Americas Cardroom
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Anyone following Bitcoin and the wider cryptocurrency market knows that investing can feel like a rollercoaster. But one online poker site has been along for the ride for well over 6 years. And because of their breadth of experience, poker players are benefiting.
No one knows crypto better than Americas Cardroom. While that might seem like just marketing talk, just look at the online poker site’s storied crypto history. In 2015, Americas Cardroom was one of the first online poker sites to start accepting Bitcoin. Within a few months, the adoption level started to increase, but Bitcoin still accounted for just 2% of their overall business.
That changed dramatically thanks to a big bet by the online poker site to expand their horizons. In 2017, Americas Cardroom expanded their crypto portfolio to include over 60 options and cryptocurrency now accounts for over 60% of their business.
That’s no surprise. Even with the swings in value, the cryptocurrency market is huge, bouncing from 1.44 trillion USD to over 2 trillion USD. But by the time you’re reading this article, those numbers might be significantly higher thanks to major players in the Bitcoin and crypto market.
Players have certainly responded in droves, and a quick look at their tournament history is proof of that.
In 2019, Americas Cardroom held the first 5 Million USD Venom, a multi-day online poker tournament with a 1 million USD GTD first-place prize. The tournament attracted a record number of participants, fueling the prize pool to 6,382,500 USD.
While many players entered by funding their accounts with Bitcoin, it was the cash out process that drew the attention of not just poker players, but Guinness World Records. The winner of the tournament secured a first-place prize of 1,050,560 USD, which was paid out in Bitcoin. That single transaction secured Americas Cardroom the Guinness World Records title for the largest cryptocurrency winning jackpot in an online poker tournament.
Thanks to the tournament’s success and that big Bitcoin headline boost, more and more players flocked to Americas Cardroom, which ultimately helped create bigger prize pools across the board. The proof is in the numbers. In November 2019, the poker site held a 6 million USD Venom with a prize pool that reached 6,750,000 USD. And they held additional Venoms and new Progressive Knockout Venoms in 2020 and into 2021. In a way, you can credit Bitcoin and cryptocurrency for these impressive numbers.
When Americas Cardroom started to back Bitcoin, other poker sites balked at the concept, concerned that it wasn’t good for the bottom line. But management at Americas Cardroom had a different view.
Focused on delivering a poker room experience built around players, Americas Cardroom felt that cryptocurrency acceptance was paramount. Having been in the online poker business since 2001, Americas Cardroom is more than familiar with deposit and cash out issues.
In its infancy, it was not too difficult to get cash in your poker account at Americas Cardroom or any of the competition. Just grab your credit card or use a third-party service like Neteller. But that all changed in 2006 when the United States passed a law that made it illegal for financial institutions to process credit card transactions that related to “illegal gambling” (that term was never clearly defined).
With players suddenly hitting roadblock after roadblock, poker sites had to look for alternative solutions for deposits and withdrawals, particularly in the United States.
That changed with the introduction of Bitcoin. Because the cryptocurrency is anonymous and private, it’s easy for players to fund their account without having to jump through hoops or deal with declined transactions.
But it goes way beyond the United States. Because cryptocurrency is global, players from every corner of the planet feel at home at Americas Cardroom. That’s makes Americas Cardroom one of the most diverse online poker rooms on the planet.
Cryptocurrency can be confusing for those new to the concept, but Americas Cardroom hasn’t just made crypto a method of payment. They’ve also made it part of their DNA. The poker site has spent considerable effort on helping players understand cryptocurrency. On their website, you’ll find dozens of pages dedicated to pretty much every cryptocurrency under the sun, plus detailed tutorials to help newbies just getting started.
But it doesn’t take a rocket scientist to use Bitcoin or any of the other major cryptocurrencies on the online poker site. Players who want to deposit directly with cryptocurrency can do so within the Americas Cardroom poker app, simply by going to the Cashier. The poker site then converts whatever currency the player is using into US dollars. From there, poker players can use their funds to play poker, online casino games, or bet on sports.
Cashing out their winnings is just as easy. The site automatically converts the US dollars back into their preferred cryptocurrency and sends it directly to their wallet.