The UK’s mobile gambling market is expected to be worth more than £2bn this year, and as many as 1.5 million new users are expected to join the industry in the next 12 months.
But as the number of people gambling on mobile devices has grown, it has also been hit by a raft of regulatory and technological problems.
In a bid to tackle the problem, mobile casino operators have been experimenting with new ways to protect their business models from hackers and hackers using their apps to lure users to gamble, as well as to take advantage of a number of loopholes.
One of the most significant developments in this space has been the launch of mobile casinos using the bitcoin blockchain, a decentralised online system that allows users to bet on games from anywhere in the world without having to trust a third party.
This week, it was revealed that British casinos have been using this technology to host an online gambling event hosted by BitCasino, a bitcoin wallet provider, as part of a bid by the operators to make the event a lot more accessible to users.
This event, dubbed BitFest, was hosted in a UK-based Bitcoin mining operation owned by UK-registered Bitcoin Mining Club, and hosted a number special promotions and giveaways, including the release of a limited number of premium virtual coins for free.
BitFest is the latest event to have been hosted on a bitcoin-powered server, with Bitcoin Mining club also announcing plans to host a number more events in the coming months.
This is the second time that BitFest has been held in a bitcoin mining facility, after it was hosted last month in the US.
Bitcoin mining, in short, involves mining bitcoins using the internet’s most efficient hardware hardware, and it is the technology underpinning bitcoin’s most popular online gambling platform.
But it is also being used to host various other online events and offers.
As well as the new event held on BitFest’s server, the company is also planning to host another event in the near future, which will be hosted in partnership with the British gaming giant Bally’s.
Bally’s also plans to launch its own bitcoin-mining machine, and will use it to host the event in a separate facility, where it will be run by BitFest itself.
“We have had a number opportunities over the last few months to use this technology in ways that we believe are beneficial for both Bally and the gaming industry in general,” said David Johnson, CEO of Bally.
“This event will give us a great platform to show off the benefits of our technology to a large number of users and make the process as easy as possible for all participants.”
Bitcoin mining has been used by companies to run events in recent months, including a UK bitcoin gambling event held in the UK on Thursday, and a US bitcoin gaming event held earlier this month.
However, bitcoin miners have a tendency to have more problems than those who are working to secure their own business models.
According to a report published in February, nearly half of all bitcoin mining operations in the United States and China fail, while over a third of all mining machines in China are found to have some type of security vulnerability.
Bitcoin gambling has a number challenges as well.
For one, bitcoin is not currently regulated in the same way as traditional currencies, making it difficult for users to get a bitcoin payment through their bank account or to participate in the cryptocurrency market.
In addition, bitcoin gambling is not regulated by any international governing body, so any regulatory decisions regarding bitcoin gambling in the future could be left to individual jurisdictions.
Bitcoin has also recently come under increasing scrutiny from government regulators around the world, which is likely to continue to have an effect on the industry.
While the UK’s regulator, the Financial Conduct Authority (FCA), is currently working to update its guidance on bitcoin, its regulatory impact on bitcoin gambling could be even more serious than some have predicted.
In July, the FCA issued a warning to the public, stating that while bitcoin is technically legal, the digital currency is still illegal to use in the country, and therefore should not be used to gamble in any way.
“The FCA’s view is that any gambling activity conducted in this way would be unlawful and would fall outside the scope of the FCO’s anti-money laundering obligations,” it said in a statement.
“It is therefore appropriate for the FCE to advise individuals not to gamble using bitcoin.”
While the FSC’s guidance will continue to guide the industry, the UK has been considering banning bitcoin gambling entirely, and the government is also considering introducing legislation to do so.
While there is no official plan yet to do away with bitcoin gambling altogether, there are signs that the government will consider introducing a regulatory framework for the cryptocurrency industry, which would be a step towards a ban.
A number of companies, including UK-listed bitcoin miner BitMex, have already announced plans to develop new bitcoin mining equipment to meet the government’s demands.
Other companies have also announced plans for new bitcoin gambling services, and some of the biggest