CashBet co-founder and CEO Dr Mike Reaves is going after a new igaming demographic with CashBet’s crypto-ready platform.
Speaking to iGB earlier this month he set out the many areas of igaming that crypto can enhance or fix.
“Content delivery in the crypto casino world is something that is definitely in need of improvement. We can provide a much better implementation where we can have a casino now with a single B2B integration. Get 50 or so games. Right now with crypto casinos we’re seeing three to five games,” he explained.
“Cost per transaction is another issue that we’re facing today, particularly the banking cost. Every middle-man along the way in the whole supply chain of banking services, gets a piece and that can be eliminated with crypto currency”.
Meanwhile, he said having a crypto enabled platform could also improve withdrawal speed, player trust, access for a wider range of players and charge back mitigation.
“Charge-back fraud accounts for 1-2% of our payment volume right now, and it’s really a problem within the industry, and this is something that cryptocurrency will help completely eliminate,” he said.
“We can go ahead and reach players in markets that we weren’t able to get to before because these players were under-banked, by providing a cryptocurrency payment method we’re able to go ahead and reach those players.”
Describing igaming and crypto/blockchain technology as a natural fit, Reaves said the combined technologies had the potential to improve VIP programs, expand the casino offering and improve player experience.