IGT Files Patent for Crypto Transfers to Gaming Accounts
Wednesday 20 de January 2021 / 12:14
⏱ 2 min read
(London).- International Game Technology PLC (IGT), the world's biggest maker of slot machines, has filed for a patent that enables gamblers to transfer Bitcoin (BTCUSD) from their online wallets to their account at a gambling establishment. "IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency," a spokesperson from the company told Bloomberg.
According to the patent, "… the instructions cause the gaming establishment component processor to escrow the amount of cryptocurrency, establish a line of credit based on the escrowed amount of cryptocurrency, and modify a balance of a gaming establishment account based on the line of credit."
KEY TAKEAWAYS
- IGT has filed for a patent that enables slot machine players to transfer Bitcoin from their online wallet to their account at a gaming establishment.
- The move could open up new markets for Bitcoin.
In simple words, this means that, until the time that the actual cryptocurrency transfer takes place between the crypto wallet and the player's account, the gambler will be able to fund his gaming by using a line of credit at the establishment. While it details the operational aspects of the transaction, the patent does not provide detail on associated fees and transaction costs for the transfers.
Millennials and those between 18 and 29 years of age comprised a majority of visitors to slot machines in Las Vegas, according to 2018 statistics. That should be good news for casinos with this technology because the younger demographic is comfortable with Bitcoin as a concept and its use as a transaction medium. The proliferation of smartphones also means that it should be relatively easy to implement cashless systems for transfer between two accounts.
IGT's patent could open up new markets for cryptocurrencies. While there are several Bitcoin ATMs in Las Vegas, casinos have only allowed use of the cryptocurrency for the purchase of food and drink and shied away from allowing it on the casino floor. The Nevada Gaming Commission decided last year to allow transfers from digital wallets (and not bank accounts) to gaming accounts. IGT recently announced a digital wallet, called Resort Wallet, to enable transfer of money from and to slot machines.
Categoría:Slots
Tags: Sin tags
País: United Kingdom
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
ProntoPaga Consolidates Its Position at Peru Gaming Show 2026
(Lima, SoloAzar Exclusive).- Juan Carlos Loza, Head of Sales Latam at ProntoPaga, spoke exclusively after the company's participation in Peru Gaming Show 2026, highlighting the agreements reached, the interest in their payment solutions, and the expansion plans that will drive their growth across Latin America.
Monday 03 Aug 2026 / 12:00
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
