BitnPlay: New Mobile Poker Room That Requires No Deposits!
Back in November, I wrote about legislation that came in to effect in December which was aimed at safeguarding players’ money at poker sites. Instead of going into a holding account owned by the business, deposited money must now be put in a third party trust, and either released directly to players when they win and withdraw it, or to the site when it is part of a rake. This is already proving to be a great way of protecting players from both dodgy sites and honest incompetence, but may have just been beaten in efficacy by a brand new system.
As with so many of the innovations in the way money is handled in mobile gaming we’ve seen recently, the secret behind the latest money protection scheme is Bitcoin. BitnPlay Poker’s innovative new system works by transferring money directly from players’ Bitcoin wallet to the table, meaning there’s no need for the site to be holding deposits which aren’t in play.
Running only cash tables and tournaments means that – while the options of game types and styles are a little more limited than usual – BitnPlay is never holding more money than is in play. As soon as the winner of a hand is decided, the winnings are transferred directly back into their wallet.
In describing how the whole thing works and the motivations behind it, BitnPlay explains how their aim is to “eliminate the players’ counter-party risk with the operator, through Bitcoin’s revolutionary blockchain technology”, hoping to avoid the age old issue of “the large-scale centralization of users’ funds, tied up in deposit accounts”.
The key piece of technology driving BitnPlay’s new poker room is the cryptocurrency itself. Bitcoin is allowing easy and affordable transfers to take place with relative anonymity. Paying cash directly into a table pot in online and mobile poker requires super-fast transfers which won’t be subject to checks and authorisation. Bitcoin ticks all these boxes, so makes it the perfect candidate for this kind of enterprise.
Of course, there’s another exciting piece of technology being employed by BitnPlay: HTML5. As all mobile poker players worth their Bitcoins will no doubt know by now, that little string of 4 letters and a number is our key to enjoying poker on the go. Yes, BitnPlay is available with full capabilities on mobile, making it arguably the most exciting new place to play so far this year.
When and What to Play
The only real piece of bad news in this whole thing is that you can’t play at BitnPlay quite yet. No, you’ll have to wait all those long, long days until the 1st February before you’re able to stop depositing and start playing.
Although we’re not yet entirely sure what the rakes will be for tournaments, it’s been confirmed that they will be lower than 7.5% (perhaps considerably lower), which makes it a more attractive option for play than the majority of mobile and online poker rooms. For cash tables each pot will have a tiny, tiny rake of 2% skimmed off – you really can’t complain.
The launch of BitnPlay comes at a time where the safety and security of players is of growing concern for operators. While there has been legislation passed to players don’t suffer at the hands of nefarious sites, we’ve also seen plenty of steps taken to protect them from other players. The rise of anonymous tables has been seen as a great way of helping players avoid the adverse effects of automatic seating scripts, which sit their users next to weaker players.
BitnPlay is the first site that truly straddles the divide, making sure players can stay as anonymous as they like both from other players and the house, and giving them complete control over their money while it isn’t in play. BitnPlay claims to want to decentralize online poker, and offer the first trust-free platform”, and it would appear that it is well on its way to achieving its goal.
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