Johnny Chan, a Bitcoin poker site, and the latest industry innovation might not be three things you’d necessarily put together, but that’s exactly what a new company called Breakout Gaming (BRO) has manifested.
Along with a collection of legendary poker pros, including Jennifer Harman, Todd Brunson, Huck Seed and Ted Forrest, Chan will become the new face of the platform that will use Bitcoin as its base currency. Although players won’t actually be able to use Bitcoin at the table, the site will use the cryptocurrency as a deposit and withdrawal method.
Essentially, how the system works will be as follows: players that sign up will be able to make a Bitcoin deposit via a secure eWallet. Once the payment has been processed, each Bitcoin will then be converted to a Breakout Coin using a cold storage solution to protect it from hackers. Once the coins have been converted, the user will be able to play a range of online casino games, such as blackjack and roulette, bet on fantasy sports and, of course, play online poker.
Enlisting the help of veteran pros such as Chan might be somewhat of a novel move, but there’s no doubt that the idea of a Bitcoin poker site is one that players of all persuasions are warming up to. In fact, BRO’s platform won’t be the first site to use Bitcoin; however, it will be one of the few platforms that uses the virtual currency as its primary funding option.
“We felt there was an untouched niche for digital currency enthusiasts to play digital games such as Poker, Blackjack, and Fantasy Sports, all while investing in the long-term opportunity of Breakout being the next go-to gaming destination,” said Johnny Chan.
Beyond the desire to fuse digital currency users with digital gaming, David Gzech, a leading cryptocurrency attorney, explained that Bitcoin offers a more secure payment option for online poker players.
“iGaming and cryptocurrency make a good pairing. Breakout Gaming will be positioned to address both players’ desires for privacy and regulators’ demands to meet both KYC and AML rules. In that regard, the BRO Coin launch will present a breakthrough in a layered design,” said Gzech.
What also appears to be unique about BRO’s platform is that it will only operate in regulated markets. In the past, some operators have used Bitcoin as a way of bypassing local gambling laws, but BRO appears to be promoting it as a legitimate option for serious players.
In terms of the games BRO’s site will offer, early reports suggest that No Limit Hold’em and Open Face Chinese will be the primary focus. However, for those that want another option, there appears to be a steady growth in the number of Bitcoin poker sites available to players. In addition to BRO, Nitrogen Sports recently announced the launch of its own Bitcoin poker site. Offering a sports book option for Bitcoin users since 2012, the company has now positioned itself as one of the frontrunners in an area of the poker industry that is gradually picking up momentum.
A Quick Guide to Bitcoin
For those that aren’t familiar with cryptocurrencies such as Bitcoin, the easiest way to think of them is as virtual money. Generated through a process known as “mining” (the end product of a series of complex mathematical equations), currency such as Bitcoin can be spent at a growing number of outlets both online and offline.