Cryptocurrency will likely become even more commonplace over the next two or three years, but according to PokerMatch International CEO Ruslan Bangert, the popularity of crypto poker among casual bettors all depends on “where the global pendulum will swing”.
Speaking to CasinoBeats, Bangert outlined why PokerMatch has added crypto payment methods, as well as a range of “more expensive games”, before explaining why tutorials, educational content and collaborations with exchanges are key to helping bettors understand the world of digital payments and crypto poker.
CasinoBeats: Cryptocurrency has been making headlines over the last few years. Do you think that the current levels of enthusiasm are here to stay?
RB: The situation with cryptocurrencies is borderline. Some countries prohibit it, others allow it, and some are still unsure. The development trend of cryptocurrencies will depend on the degree of influence of countries. At the same time, the general population is always slightly in opposition to the government of their country. In other words, the stronger will be the resistance of influential structures, the more interested the cryptocurrency audience should become.
However, the question is whether this interested audience will be enough to give sufficient impetus to cryptocurrency. So far, in the short term, cryptocurrency is likely to become more and more popular in two to three years. But it should be clear that countries have the tools to suppress it. Everything will depend on where the global pendulum will swing.
CasinoBeats: Can you tell us about the reasons why PokerMatch International chose to add crypto payment methods for players? How did you decide which digital currencies to add?
RB: Here, everything is simpler than it may seem from the outside. And our approach is almost devoid of romance. We look at cryptocurrency solely as a payment instrument. If there were still shells and beads in the world of payments, and you could process them over the Internet, we would add them as well. Cryptocurrency is quite convenient as a payment method now, but it is very niche.
It’s in demand among high rollers, who want fast and secure transactions of hundreds of thousands with low commissions. Cryptocurrency fully meets this aspiration. That’s why we have added it, as PokerMatch has been gathering more and more expensive games lately. And we did not think long about what currencies to add.
First, we have a partner, which provides a certain front of work and responsibility in this direction, and secondly, there are popularity ratings. So we have three most popular currencies plus a couple of stablecoins, which are the most demanded by players.
CasinoBeats: For PokerMatch International, are there any other uses for cryptocurrencies outside of the typical deposit and withdrawal processes?
RB: No, we don’t have any other processes with cryptocurrencies. It is only deposits and cashouts. We do not accumulate cryptocurrency, it is immediately exchanged into fiat money as it comes into our system. And the same way back.
CasinoBeats: And what role can these digital currencies play in promoting security, transparency and an elevated player experience for bettors?
RB: Traditional bank cards are still secure, and 98 per cent of the audience still use them. If the role of digital currencies will grow significantly, then security will increase accordingly. However, they should strive to be easier to understand among casual players. It’s very difficult for a simple guy from a factory to understand how to handle it all. And without the influence of the masses, the tectonic plates of payments will not move from their traditional points.
CasinoBeats: In your opinion, how can poker companies – or the wider casino industry – make the most of the opportunities presented by crypto?
RB: Cryptocurrency processing is now set up in such a way that it is quite difficult to scale. Only by growing a new audience, because technically it is already very modern and technologically advanced. So it is possible to increase the usage rate by popularising cryptocurrency payments among casual players. This means tutorials, educational content, collaborations with exchanges.
I also believe in whole blockchain based poker rooms and casinos, and I think there are already some examples of this. But all of this is still very niche.
CasinoBeats: Does PokerMatch International have any crypto-related plans for the next 12 months?
RB: We are satisfied with the processing of the most popular cryptocurrencies, and we are not looking at scaling this process yet. It is also difficult to plan something globally, when any country in your operating region can change the status of these payments at any time. Everything is still quite shaky.