Winning Poker Network pays out 95% of winnings in BTC

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 14380
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Updated September 21, 2022 | Published November 20, 2020

2 mins read

The news is a big leap forward for the legitimacy of Bitcoin (BTC) payouts in general. According to WPN CEO Phil Nagy, the spike in interest has been occasioned by the bullish run Bitcoin has had recently, pushing past the $18,000 mark in a matter of days.

Nagy said that the organisation has been forced to acquire a bigger stake of Bitcoin so as to be able to honour payouts. Previously, the company was paying out around $100 million in BTC a month, but this amount has shifted, and it now constitutes 95% of all payouts, or roughly $158 million.

Nagy explained that the interest in Bitcoin as the go-to currency was occasioned by poker players who were playing from the US and had no other reliable way of transferring money back to the mainland other than Bitcoin.

Presently, only 11 states out of 50 in the US allow online gambling. Yet, Bitcoin has proven tempting for many poker professionals, including Ed Moncada and Doug Polk, who run a crypto poker channel together on YouTube.

Previously, the WPN has set a Guinness World Record for the biggest jackpot in online poker winnings estimated at $1,050,560. However, Nagy did say that even the WPN avoided holding Bitcoin around for too long, converting mostly into FIAT to avoid volatility.

If you are looking for blockchain and crypto poker, CGN has put together a list of the best crypto poker sites to visit in 2020.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
Best Casinos to play with…
Bitcoin
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
Chipstars casino talks Bitcoin bets, web3 gambling, and VIP features
THE LEDGER: WINR DegensBet, Rollbit x Stake.com rivalry, ZKCasino to the rescue

Similar News

crypto 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 4513
            [name] => crypto
            [slug] => crypto
            [term_group] => 0
            [term_taxonomy_id] => 4513
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2169
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 3357
            [name] => gambling
            [slug] => gambling
            [term_group] => 0
            [term_taxonomy_id] => 3357
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 300
            [filter] => raw
        )

)

Could an East African Island be the new crypto...

28/09/2023|14:48

Anjouan is being tipped as the new home of online crypto gambling with Curaçao’s planned regulatory overhaul leaving a lot...
crypto 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 4513
            [name] => crypto
            [slug] => crypto
            [term_group] => 0
            [term_taxonomy_id] => 4513
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2169
            [filter] => raw
        )

)

Wall Street Meme Coin price expected to soar after...

28/09/2023|14:39

The Wall Street Meme Coin (WSM) is expected to soar in price after being listed by crypto exchange OKX. OKX...
crypto 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 4513
            [name] => crypto
            [slug] => crypto
            [term_group] => 0
            [term_taxonomy_id] => 4513
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2169
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 3357
            [name] => gambling
            [slug] => gambling
            [term_group] => 0
            [term_taxonomy_id] => 3357
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 300
            [filter] => raw
        )

)

Decrypt launches first of a kind loyalty program

28/09/2023|14:35

Decrypt Media have launched 1000x, a ‘first of a kind’ loyalty program aimed at ‘crypto degens’.  The loyalty program comes...