Slot Machine Manufacturer Acquired Patent to Add Crypto As Payment Method

By Warren Hayes | January 13, 2021

Slot machines manufacturing heavyweight International Game Technology (IGT) has reportedly successfully acquired a patent, which adds crypto as a means of payment for gambling. 

Specifically, as stated via the records of The US Patent and Trademark Office, IGT has reportedly managed to obtain the license on Jan 6th, to function a system supporting crypto transfers, from gamblers’ accounts to a “gaming establishment account.”

The patent filing reportedly showed Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) as three coins for crypto-enabled transferring options, from players’ private wallets to wallets connected to casino accounts.

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency,” The US agency representative Phil O’Shaughnessy reportedly remarked. 

The update of the patent reportedly surfaced on the same day IGT successfully acquired regulatory green light in Nevada, to offer its Resort Wallet to players, for carrying out cashless deposits for playing the slots.

The firm mentioned the ongoing global health pandemic, believing that its new development will reportedly bring down the need for physical interactions, ultimately providing a  “safer” gaming experience. 

This initiative would reportedly offer an alternative to numerous individuals, instead of using Bitcoin ATMs in casinos, since players will not have to cash out their crypto to play the gaming machines.

Las Vegas casinos are reportedly among the earliest entities to adopt crypto. In 2014, The D Las Vegas Casino Hotel and the Golden Gate Hotel and Casino reportedly revealed that BTC-enabled payments are facilitated in their shops

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