Great news for Turkish bitcoin holders and Mega Moolah slot fans
There's some big news for bitcoin owners in Turkey looking for a way to spend their bitcoin online. In the past, if you wanted to play games using bitcoin, you were limited to a small number of bitcoin casinos that offered slot games specifically designed for bitcoins.
Games designed specifically for bitcoin is often a limited selection of games and there's hardly any progressive slots or other progressive games to play - compared to the thousands of games you can play using fiat currency.
However, things have now changed with the announcement that Turkish players will be able to enjoy the myriad of slots and casino games, including the Mega Moolah, that are available at a new bitcoin-only casino.
That casino is Bitcoin Casino and the reason it is hugely exciting for bitcoin enthusiasts is because it will offer, for the very first time, the chance for people to play some of the best slots in the world, such as Microgaming's hugely popular Mega Moolah slot, via bitcoin.
Given that the Mega Moolah jackpot easily outstrips the standard progressive jackpot prizes you can find on comparable bitcoin-only slots, this is huge news for bitcoin enthusiasts who want to play a game where you can win a guaranteed prize of at least £1,000,000, and which just a few days ago triggered a new world-record busting jackpot of £18.6 million!
How many Turkish players will be playing at the casino? Well to answer that question fully we need to take a broader view of how bitcoin is being used across the country and that starts with just how available it is for the average Turkish citizen to purchase.
Can I buy bitcoin in Turkey?
The good news is that there is an active and thriving community within Turkey that has a real interest in bitcoin, the blockchain and cryptocurrency in general. This has seen access to bitcoin become more available over the past few years. The country has a number of platforms that allow citizens to exchange their Turkish Lira for bitcoins (such as Paribu.com).
Indeed, with the value of the Turkish Lira falling throughout 2018, many have speculated whether it would be more beneficial to invest in bitcoin instead, as even though bitcoin is notoriously volatile, it is holding its value better than most national currencies is at the moment.
Access to other forms of cryptocurrency in Turkey however can be more variable which is why most Turkish citizens tend to use bitcoin as their choice of cryptocurrency.
The use of bitcoin within Turkish society
Compared to the likes of Japan, which is one of the leading countries for accepting a more widespread use of cryptocurrency, Turkish society is not yet as advanced in allowing bitcoin to be used across the country for a variety of means.
That said, there are a number of smaller businesses that have started to accept payment in bitcoin (and in truth, if the situation with the decline in value of the Turkish Lira continues, then many more will likely follow suit to try and preserve the relative value of their business). However as yet, bitcoin is not yet widely accessible in the high street.
It is a different situation in the online realm however as many Turkish websites now accept payment in bitcoin or other forms of cryptocurrency and it is much easier to spend your bitcoin online in Turkey, than it is on the streets, although to be fair, that is true of pretty much every country in the world today.
What is certainly evident is that a large number of people interested in bitcoins are not only interested in buying and using them, but also in mining them. The relatively low cost of electricity in Turkey, combined with a relatively low minimum wage, means that many Turkish citizens are very interested in using their computers to mine bitcoin as a means of earning extra cash.
Is bitcoin legal in Turkey?
In truth, the status of bitcoin in Turkey is somewhat confused and while cryptocurrencies in general have not been declared illegal, neither have they been endorsed by the government, or other key bodies within the country.
Given the issues we have already mentioned with the Turkish Lira falling in value, it is perhaps unsurprising that the Turkish Central Bank have spoke positively about bitcoin and how it could potentially contribute to a more stable financial future, not just within Turkey, but within the international community.
In contrast to this, the some have been critical of the adoption of bitcoin, stating that it is frequently used on the Dark Web for nefarious or illegal means and that its lack of regulation makes bitcoin worryingly volatile.
Indeed, this lack of cohesive strategy for the adoption (or not) of bitcoin throughout Turkish society, allied to the problems with the tumbling value of its own currency, could well be the main stumbling block towards bitcoin becoming a more universally accepted part of Turkish society. However, regardless of that, the popularity of bitcoin in Turkey continues to grow and more people are starting to join the Turkish bitcoin revolution.
The situation in Turkey is further complicated by the fact that all forms of gambling in the country are highly regulated and that online gambling has been banned since 2006.
However, as with many countries that have bans in place on online gambling, actually being able to police the citizens effectively online is extremely difficult and as such, while the ban is in place, there is still a massive community in Turkey that play and gamble online. Indeed, just a few years ago, one Maltese-based Swedish online bookmaking firm estimated that a quarter of its entire yearly revenue came from players based in Turkey.
As is clear, the situation in Turkey in terms of online gambling and bitcoin, is very confused but one thing is absolutely certain and that is a high proportion of Turkish citizens are not just interested in what bitcoin has to offer, but are ready and willing to adopt and use the currency when it is available and for a variety of different purposes.
What will Bitcoin Casino offer Turkish bitcoin users?
Those citizens in Turkey that choose to flout the ban on online gambling have a wide choice of online casinos to join and the Bitcoin Casino is more than simply another casino. As we mentioned previously, the casino is the first to offer a number of more familiar online slot games, including a massive choice of games from Microgaming and of course, it is the first site to offer a chance to play Mega Moolah to bitcoin-only players.
With over 1,200 games to play, there is a massive choice of different slots and casino games to pick from, including many games that were previously only available to credit card or e-wallet players.
Furthermore, new players also benefit from a sign-up bonus, which will give them a 100% Matched Bitcoin Bonus up to 1 BTC on their first deposit! There are more bonus offers, including a second deposit bonus, and Reload Bonuses too.
Add to that all the trappings of excellent customer service and a safe and fair place to play, and you have all you need to enjoy bitcoin gaming for the first time on Mega Moolah!
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.