Slot machine maker dumbs down, gets crypto payment options patent

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Many players would no longer need to use Bitcoin ATMs in casinos, since they may pass their crypto directly to casino gaming accounts.

The world’s largest maker of slot machines has just obtained a patent that will allow consumers to access crypto gambling payments.

According to documents from the United States Patent and Trademark Office, International Game Technology, or IGT, has today been awarded a patent for a device that will allow players to move crypto from their wallets to a gaming institution account. The patent filing reveals transfers in Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) as examples for users moving crypto from their private accounts.

“IGT secured this patent to strengthen its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency,” said Phil O’Shaughnessy, spokesperson.

Patent news arrives on the same day that IGT revealed that it had secured regulatory clearance in Nevada for players to use its Resort Wallet to make cashless deposits to play slots. The organisation alluded to the latest pandemic when describing the device, saying that it provided “reduced-contact, safer” gameplay experience. This move would appear to remove the need for many to use Bitcoin ATMs in casinos, since players would not have to pay out their crypt to play gambling machines.

Las Vegas casinos were some of the first to embrace crypto. In 2014, the D Las Vegas Casino Hotel and the Golden Gate Hotel and Casino announced that they would allow BTC in their stores, but not on the gaming floor. Last year, however, demand emerged from Winning Poker Network players chasing Bitcoin payouts, with the network posting more than $160 million on a monthly basis.

Centered in the United Kingdom, IGT once dominated more than 70 per cent of the U.S. slot machine business, however by 2019 the lead had narrowed to 33.2 per cent, which is still ahead of the Science Games and Aristocrats. According to the Global Slot Machine Industry Study filed in 2019, the slot machine market is projected to expand at a compound annual growth rate of approximately 5.5 per cent over the next four years, hitting more than $4 billion by 2024.

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