Internet gaming group Bovada has announced that they've begun accepting the Bitcoin Cash (BCH) currency for deposits, becoming the first site that we know of to accept the forked cryptocurrency.
Bovada has been accepting deposits and payouts via Bitcoin for some time, but the move to support BCH is unique. The fork of the main Bitcoin blockchain occurred earlier this year due to a debate over scaling Bitcoin to handle the ever growing number of transactions on the network. However it is viewed by prominent Bitcoin developers and evangelists as an attempt by a small group of bad actors to take control of the cryptocurrency market. Any users with Bitcoin generated before August 1st, 2017 automatically have Bitcoin Cash in an equal amount.
The driver behind this move is no doubt Calvin Ayre, founder of Bodog and its related brands. He has for some time publicly supported Craig Wright, an Australian who fraudulently claimed to be Bitcoin's mysterious creator, known only by the online pseudonym Satoshi Nakamoto. Wright and Ayre have filed a number of patents on Blockchain related technologies and Ayre is on the record as stating that they aim to kill Bitcoin and other cryptocurrencies in favour of BCH. The new alt coin is supported by a couple of other "colourful" cryptocurrency identities including ex-con Roger Ver, Jihan Wu, and John McAfee.
Bitcoin is considered to be an optimal choice for online casino transactions, as it allows for quick deposits and withdrawals with minimal fees and no interaction with the banking system. This is especially important for American punters, who are normally faced with high fees and difficulty transacting through banks for casino withdrawals.
We'll update this story as we learn more about the adoption of the currency at this and more betting sites.