The Asian cryptocurrency gambling market is one that continues to grow at a rapid pace but one that is also causing country governments a few headaches along the way.
Gambling is largely restricted in many of the continent’s nations, with many of the countries involved have placed huge restrictions on what can and can not be done, whilst others have simply provided a blanket ban on the activity.
However, that does not seem to have stopped the industry from growing into one of the largest gambling markets in the world, and with the introduction of the digital currency, Asian crypto gambling is counting to grow as research has already shown that those who regularly place wagers are now viewing crypto trading as a high risk/reward activity that provides them with a similar rush to the one that they receive when they gamble with traditional methods.
Despite the bans that are in place, there have been ways to get around them, with many bettors turning to Bitcoin in order to get money into the gambling sites. This method has worked because of the decentralised nature that the blockchain technology used provides, thus making it hard to identify the holder as each transaction made is anonymous.
This method has already proved to be highly popular for bettors, as it has been reported that Chinese police had managed to break up a World Cup gambling site that was on the darknet that had taken more than $1.5 billion (10 billion Yuan) in illegal bets.
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