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Raising the Stakes: The Use and Future Adoption of Cryptocurrency within Online Gambling in Ireland

Cantwell, Aislinn (2020) Raising the Stakes: The Use and Future Adoption of Cryptocurrency within Online Gambling in Ireland. Masters thesis, Dublin, National College of Ireland.

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Abstract

With increasing accessibility and expanding acceptance of cryptocurrency through a range of markets and industries, (such as financial markets, the auto industry and online gambling), the financial and technological world has witnessed a growing interest in the use of this form of payment transaction making today. A stern focus has been placed on the regulation aspect of digital currencies as a result, with various governments throughout the world giving high priority to discussions regarding the implementation of cryptocurrency regulation, most notably regarding tax and its acceptance as a form of payment.

Some consider it a hotbed for criminal activity so ban the use entirely (for instance Vietnam), a few deem the market as too small to warrant regulation to be introduced yet (United Kingdom), while others consider the technological element to cryptocurrency as a strong potential for developing their own e-currency (Library of Congress, 2019). Sweden is one of the countries considering this, a country of significance for the basis of this dissertation.

In respect to the use of cryptocurrency within online gambling today, it is important to note how cryptocurrencies such as Bitcoin, have become an accepted means of payment in a range of gambling organisations. Building on research conducted and results revealed in an existing study regarding the use of cryptocurrency in online gambling by two students of a Swedish University in 2018, this dissertation will explore if alternate results would be garnered in relation to the public opinion on the acceptance of cryptocurrency as an online gambling method of payment in 2020 within Ireland. This dissertation aims also to focus on the viewpoint of participants in an Irish setting (managers of Irish gambling providers and their customers) who were not included in the above-mentioned study. It was interesting to discover if the attitudes of Irish participants of online gambling will vary from participants in the previous research and if so, to what degree.

It was found that the issue of trust, ease of use, the regulation and governance of the online gambling transactional technology would possibly need to feature as central messages should this payment method become used within the online gambling industry. Government regulation and auditing of OGP and online gambling may serve to facilitate the evolution of trust in security, anonymity and fairness with the service offering.

Item Type: Thesis (Masters)
Subjects: H Social Sciences > HG Finance > Money > Currency
H Social Sciences > HG Finance > Banking > E-banking
G Geography. Anthropology. Recreation > GV Recreation Leisure > Games and Amusements > Gambling
Divisions: School of Business > Master of Science in Finance
Depositing User: Dan English
Date Deposited: 15 Feb 2021 13:39
Last Modified: 15 Feb 2021 13:39
URI: http://norma.ncirl.ie/id/eprint/4757

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