BitGo Financial System for Bookmakers: Buy the Best Blockchain Solution

Payments using digital money are one of the main trends in the betting niche. The use of such ensures high speed and anonymity of transactions, guarantees the payment in full of won prizes, and attracts the target audience to the gambling site.

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Brief Information about the Developer

The BitGo company was founded in 2013 by Mike Belsh and Ben Davenport. Its main mission is to serve institutional customers and owners of digital assets.

The brand’s system supports fast and secure crypto transactions and provides instant currency conversion at a good rate.

Entrepreneurs will be interested in the integration of the BitGo service into their betting shops and online casinos, as well as sites for the sale of lottery tickets and other iGaming projects. An important nuance is that the gambling resource must support Blockchain transfers. It can be a platform that accepts payments only in digital assets or both fiat and crypto money.

The head office of BitGo is located in Palo Alto (California, USA). The staff consists of more than 100 specialists in finance, law, programming, QA testing, and other related areas.

About the money-transfer system in numbers:

• 150 integrated cryptocurrency exchanges in one place;
• more than 500 clients (operators, bookmakers, B2B providers) of institutional custody;
• about 500 Blockchain elements, including digital money (BTC, LTC, and others) and non-fungible tokens;
• 20 billion transactions monthly in dollar equivalent;
• more than 325 billion money transfers since the launch of the payment service.

A Wide Range of Provided Services

Connection of the BitGo financial system gives access to the following solutions offered by the developer:

BitGo Custody

The service is suitable for those entrepreneurs who rely on cryptocurrency capitalisation. Having bought several monetary units, they make a good profit due to the growth in the value of assets. At the same time, digital units need to be stored somewhere, which is what the BitGo Custody solution is created for.

The product functions by analogy with deposits: people replenish their accounts in a bank under a certain deposit and for a limited period. Funds are not just kept in the account — they bring passive income.

Those businessmen who decide to purchase the BitGo payment system get access to the Trust Company storage. It is located in South Dakota on the basis of the branch of the Bank of America.

Each client receives a dedicated cold wallet.

The developer’s task is to send the following information:

• quarterly account statements;
• detailed risk assessment reporting;
• instructions related to the deposition and withdrawal of digital funds.

BitGo Self-Managed Custody

A set of measures for the storage of crypto money of companies registered in jurisdictions with additional requirements for local key management.

The solution is based on the same technology as BitGo Custody. The main difference is an increased level of security and the availability of effective metrics for the operational management of funds.

Legal installation of the BitGo payment system opens access to 3 types of access:

1. The customer’s key. It is created by entrepreneurs in order to initiate all interactions — accrual of bonuses to gamblers, transfer of funds to B2B partners, and payment of taxes. With multi-factor transaction confirmation, the solution is used as the first level of verification.
2. BitGo key. It is generated by the program and is necessary for joint approval and signing of cryptocurrency payments.
3. Backup key. It is created offline to quickly restore access to the cold wallet in the case of an emergency shutdown.

BitGo Trust

The developer’s service can be connected with the digital assets insurance service.

The provider purchased an insurance policy for $250 million and pays out the money in the case of:

• copying and stealing private keys;
• leakage of confidential data;
• dishonest and incompetent actions of employees or managers of BitGo;
• loss of keys.

The Deposit Guarantee Fund was formed thanks to the financial support of such prestigious syndicates as Lloyd's of London and the European Marketplace. Operators can obtain additional insurance for $600 million by signing contracts with BitGo's exclusive partners: Woodruff Sawyer and Digital Asset Services.

BitGo Prime

The integration of the betting platform with the BitGo payment system provides access to a profitable credit line. The bookmaker can act as a direct lender of funds or issue loans at good interest. All transactions are carried out in digital assets, without reference to the current exchange rate or with it.

The BitGo Prime app comes with a user-friendly trading platform. The program is developed for trading cryptocurrency within specialised Blockchain exchanges.

Why It Is Worth Connecting the BitGo Financial Service

Let us consider the main advantages of the innovative system:

The Main Things about the Installation of the Developer’s Program

• The solution is suitable for those online bookmaker’s offices where digital funds are chosen as the main or additional settlement method. The program guarantees fast and secure transactions all over the world without reference to the regions of the sender and recipient of funds.
• The payment system can be launched in a few clicks. The company has provided a convenient installation scheme that does not require any changes to the basic program code.
• The manufacturer offers several proprietary solutions for bookmakers who work with cryptocurrency. This is the storage of funds in cold wallets, trading, asset insurance, obtaining short-term credits, etc.

From us, it is possible to order the following profitable wagering solutions:

• bookmaker's franchise;
• betting shop on a turnkey basis;
• promotion of already existing platforms, and much more.

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