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The UK is betting on the Bitcoin ATM - literally

November 4, 2013

Now there are two ways to bet on Bitcoin: You can buy the virtual currency at today's price and hope to become a Bitcoin millionaire; or you call up your London bookie and place your bet on the Bitcoin ATM.

After the launch last week of the world's first Robocoin-brand Bitcoin ATM in Vancouver, Canada, British bookmaker Paddy Power started offering odds on the date when London will get its first Bitcoin ATM, an article in The Inquirer said.

Currently the bookie is giving odds of 3/2 on a permanent Bitcoin ATM installation by the end of 2013, and 4/7 on a machine by the end of 2014 — an excruciating wait for anyone accustomed to betting on the ponies.

Bettors on a Bitcoin bubble will have to wait even longer. Paddy Power is giving odds that Bitcoin value will fall below £200 ($319) before the end of 2017. Today's exchange rate at Mt. Gox is £143 ($228).

Read more about ATM innovation.

Innovation