Poker network now gives '95% of payouts’ in Bitcoin — around $160M monthly

Poker network now gives '95% of payouts’ in Bitcoin — around $160M monthly


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Winning Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts. 

In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC).

Though the poker network has supported several cryptocurrencies since 2014, WPN CEO Phil Nagy stated that the company needed to make more BTC purchases than ever because of demand caused by the recent price movement past $17,000 and $18,000 in a matter of days.

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“We are constantly having to go out and buy Bitcoin — lots,” said Nagy. He estimated that even before this recent price surge, the WPN was paying out more than $100 million in BTC every month, roughly 60% of all transactions on the network. Extrapolated to the 95% of payouts Nagy reports is currently occurring, and assuming the same

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