NetBet recently announced that it has become the first U.K. licensed online gambling operator to accept bitcoin payments to its U.K. customers.
As the U.K.’s largest leading betting operator, NetBet has decided to start accepting the digital currency, bitcoin, in an attempt to reach the expanding customer base that uses bitcoin in the U.K., reports gambling news site, Calvin Ayre.
In August, the U.K. Gambling Commission (UKGC) announced that it sees digital currencies as an equivalent to cash that licensees could accept as payment. In a new version of its License Conditions and Codes of Practice (LCCP), it included the recent changes regarding payment-related issues.
It is hoped that this will help boost awareness and increase adoption for digital currencies such as bitcoin across the U.K.
BitPay Helps NetBet
As the use of digital currencies is still relatively new in the gambling industry, bitcoin payment service provider, BitPay, has revealed that it helped NetBet to ensure that they met the UKGC’s regulatory requirements.
According to a BitPay blog, NetBet customers will now have the ability to fill up their online account with