A premier website for horse race betting just started accepting cryptocurrency deposits

Companies are positioning themselves as the leaders in crypto adoption.
You are reading about: "A premier website for horse race betting just started accepting cryptocurrency deposits"

By Chris A.

Published July 12, 2018

Earlier this week, the management consulting firm McKinsey & Company sent out a newsletter highlighting their current editorial pick. The piece was on blockchain, fittlingly named “Blockchain beyond the hype”.

The message was that while blockchain and cryptocurrencies are still immature it is now the right time for companies to investigate whether they could actually make profitable use of it in the future.

Blockchain will not find a good use case in every industry but where it will, it is best to start getting into it now among the first business adopters.

In other news this week we have a first example of a company doing just that: AmWager.com, the premier website for watching and betting on live horse racing, is now accepting Bitcoin and Bitcoin Cash deposits.

This was not an easily implemented step for AmWager.com. “We have worked diligently with the Oregon Racing Commission and BitPay to bring cryptocurrencies to the ADW industry,” the CEO Nelson Clemmens explains.

As reported, the attractive value of cryptocurrencies used for payments was the mitigation of chargeback risks. Even considering occasional network congestion, cryptocurrency transactions can still be processed faster than traditional ones. This shortens the time necessary before the funds become available in the customers account.

Both Bitcoin and Bitcoin Cash deposits to AmWager are processed by BitPay. The CEO added, “Bitcoin and other cryptocurrencies have evolved from an esoteric concept to a widely recognized digital currency that is quickly making its way into the mainstream.”


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About the Author
By Chris A.

BIO: Chris belongs to the crypto trader class of 2013 and he's mostly writing on the topic of crypto trading and security. Located in the Americas most of the time, but you're most likely to meet him on Reddit as u/KarlVonBahnhof. ·

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