Home Crypto Gaming IGT Files Patent for Crypto Transfers to Gaming Accounts – Investopedia
Crypto Gaming

IGT Files Patent for Crypto Transfers to Gaming Accounts – Investopedia

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
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