Category: Gambling

DAOGroup Sets Sights on The Growing Sports Betting Sector

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The growth of the mainstream sports betting industry has caught the attention of renowned online gambling digital currency and blockchain solutions provider, DAOGroup. Now, the company is doubling down on its efforts in the hopes of getting even more out of the growing sector.

The first move that DAOGroup is pursuing in its quest to capitalize on sports betting is strengthening its business development team. This came in the form of two new hires – Yelena Kensborn is the group’s new Sales and Marketing Director, while Adam Lee will be taking up the role of the Business Development Manager.

According to the DAOGroup CCO Glen Bullen, the decision to strengthen the company’s commercial team further could not have come at a better time. With such a robust team, they will now be able to effectively tailor their decisions to boost brand presence and cater to the needs of their customers. Many gaming operators are ramping up efforts to integrate crypto-gaming products in anticipation of the return of sports-related gambling activities.

“We’re here to help the industry benefit without the compliance headache, and I’m thrilled to be welcoming Yelena and Lee aboard. Both are strong individuals with proven credentials who will no doubt be key in helping our partners appeal to an even broader player base as mainstream betting returns,” Glen Bullen commented.

DAOGroup already has quite a neat portfolio of crypto-based products. Earlier this year, it launched DAOWallet, its flagship product. Gaming operators have shown a great deal of interest in the product owing to the fact that it does not require them to conform to addition AML and compliance procedures. The solutions provider has integrated all necessary features to ensure it is safe to use for both gamblers and operators.

Crypto and The Rise in Online Gambling

Needless to say, the rise of online gambling was inevitable. However, it is safe to say that the coronavirus pandemic may have catalyzed the process and now some crypto betting sites are experiencing an unprecedented surge in player traffic.

Many of these new-age and futuristic online gambling platforms now have to deal with issues related to transaction processing while at the same time tailoring newer and more competitive products. This is, of course, a good thing especially because it will hasten the growth of the crypto betting sector as well as the mainstream adoption of digital currencies.

Thankfully, a lot of improvements are already being put in place. Moreover, even traditional iGaming businesses are beginning to take crypto very seriously.

Better Collective Buys HLTV.org Esports Site

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Renowned global esports betting media group Better Collective has recently acquired HLTV.org A/S for a whopping €34.5 million on a cash-free and debt-free basis. The Stockholm-based Better Collective has had plans to further diversify its publishing network and the recent acquisition is now one of the most notable moves in that regard. The multi-billion deal also happened to include the purchase of the CS:GO community platform that is known as Dust2.dk.

The Terms of the Acquisition

According to the press release that announced the acquisition, the core business model for both companies will be the promotion and advertising of esports betting operations. Jesper Søgaard, the chief executive of Better Collective, says that the decision to acquire the sports betting company was a well-thought-out one. The company had its sights set on the esports industry for a very long time before they arrived at the decision.

The essence of the time Better Collective took to analyze and monitor the esports industry was to ensure that they had all their card rights before diving. Esports is quite dynamic and differs in many ways from traditional sports which means that it was very important that they found the right partner. HLTV.org along with dust2.dk are these ideal partners – they already have a great reputation for operating the best-positioned esports brands across the globe.

“We expect strong synergistic effects as many of the betting operators we collaborate with today also offer bets on esports, so I look forward to a prosperous esports future for Better Collective together with our new colleagues,” the Better Collective CEO said.

HLTV.org executives also expressed their support for the move especially because the acquisition will support their bid to remain the leading CS:GO brand in the world. Better Collective has nearly 2 decades of experience in the sports betting industry and this makes it a great partner for HLTV.org whose growth has also been quite meteoric.

Esports Across the Planet

Needless to say, the esports industry is one of the fastest-growing sectors on the planet. It is estimated that by 2020, the sector will have a viewer base of over 300 million people. Moreover, the global esports market revenue should reach $1.79 billion by then. With more accessible features coming to players and the number of esports betting markets also growing rapidly, it is expected to create one of the most lucrative business ecosystems over the next decade.

That said, a number of partnerships are being inked in order to take advantage of the growing market. All these will go a long way in not only legitimizing the activity further but also fostering its entry and growth in newer markets.

BLUEBET Emerges as World’s Top Crypto Betting Site

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According to blockchain user analysis website DappRadar, BLUEBET is the world’s leading cryptocurrency betting platform. Further analysis of the gaming website suggested that it is set to consolidate the positions for even longer thanks to its longer-term strategic focus on the so-called cross-chain crypto gambling – this will definitely be a revolutionary step forward for the recently launched gambling website.

On the DappRadar website, BLUEBET which has been in operation for just a little over seven months is described as a “multi-person online entertainment platform that is based on blockchain.” The online gaming platform supports a number of popular gaming titles including Texas, multiplayer Blackjack, Baccarat, PowerBall Lottery, Caribbean Poker, Sports, and multiplayer Three Card among many others. Its goal is to create a professional, safe and transparent gaming environment for their customers who are from all around the world. Furthermore, the company leverages the power of blockchain technology to build “a user autonomous community, and create a platform that belongs to poker enthusiasts and sports enthusiasts.”

The EOS-based project also currently ranks as the most popular blockchain projects with more than three thousand customers using it on a daily basis. However, there have been speculations that the traffic may not be quite as impressive as portrayed.

“There is a very high level of bot traffic on gambling dApps. We’re currently doing some research on this subject at DappRadar, but my personal gut feeling is +50% of traffic for some gambling dApps comes from bots,” Jon Jordan, a spokesperson for DappRadar website.

The presence of bot traffic might be a result of deliberate manipulation in order to fake user adoption numbers. Another possibility is that the bot interaction may be the result of algorithmic interactions which are completely legitimate in the context of online gambling.

Still, this might just be mere speculation as stated above especially considering the fact that BLUEBET was primarily designed and built with the Chinese gaming market in mind. Chinese gamblers have been switching to blockchain-based casinos particularly because of the anonymity they offer – this is a very important factor since gambling is still illegal in the country.

Cross-Chain Functionality

BLUEBET plans to eventually accommodate many other digital currencies including Ethereum and bitcoin. This is directly in line with the platform’s plans to build cross-chain functionality. This will allow for peer-to-peer betting by users using different cryptocurrencies. Needless to say, the functionality is almost unheard of in the crypto gambling sector and therefore it will set BLUEBET apart from all other gaming platform and give it an upper hand in the very competitive market.

 

Crypto Gaming Platform Helping Physical Casinos Move Online

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Pbet, a brand new crypto-powered gambling platform has recently launched an initiative that is set to help land-based or physical casinos to move online. The initiative not only promises to see the casino operators incur much lower costs but also intends to afford them with the assurance of more savings. In addition to that, the platform is also meant to ensure better credibility for casino players thanks to its blockchain crypto-based Unified Gaming Platform.

Pbet is already considered to be a next-gen gaming platform and its crypto token that is referred to as “PBET” is also beginning to take off. In fact, the platform has already had its Initial Exchange Offering (IOE) in a number of popular cryptocurrency exchanges including the renowned P2PB2B. Furthermore, Pbet has gone ahead to further its participation through IEO sessions in a good number of other leading exchanges like ExMarkets. Now, after the Initial Exchange Offering (IEO), the platform’s token will now be officially listed on host exchanges where its holders will be able to trade it.

Revolutionary Casino Management System

Pbet has been around for over two years now and in that time, it has been able to penetrate the gaming market thanks to “Genuina”, its casino management system. Genuina is the brainchild of some hospitality and gaming industry veteran. Now, as mentioned earlier, Pbet has plans to create a smooth convergence of physical casinos and online casinos while at the same time integrating crypto-based payments.

The platform’s blockchain technology is set to help in ensuring that there is a trust factor for players through the delivery of transparency information among other things. This mission is based on the company’s vision to combine all the three pillars of physical casinos, that is, the players, the physical casinos themselves as well as Pbet.

One of the most notable but rather overlooked features is the fact that, with the adoption of blockchain technology, Pbet will now be able to offer the players crypto payment solutions that are not only more affordable but also assure the customers of much faster withdrawal speeds.

“We will enable physical casinos to beat the high cost of penetrating into online space with our blockchain crypto-based turn-key, zero fix fees, revenue sharing system. Pbet also assures almost ‘0’ transaction fees and super-fast withdrawals for players,” stated a Pbet spokesperson.

The convergence between crypto or blockchain and the gambling industry has been a long time coming but it is certainly refreshing to see companies such as Pbet take the leap forward by actualizing it. As such, it will not be long before even more companies begin to adopt the new model

Japan Ramps Up Crypto Gambling Regulation

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Even though Japan is known to be one of the most welcoming environments for new technologies, the country is seemingly very cautious when it comes to gambling. In fact, it has been very strict about the spread of crypto gambling activities and this has been a major obstacle for the most, if not all, of the crypto gambling companies.

Most recently, in March 2019, the company behind renowned cryptocurrency Tron announced that it would no longer allow gambling DApps (Decentralized Applications) based on its platform to be used in Japan – this move was in compliance with the country’s regulations. Moreover, Tron has discouraged crypto enthusiasts in Japan from creating similar DApps while also imploring non-Japanese developers to block the country’s IP addresses from using their gambling platforms. To top it all off, the company has promised to work alongside Japanese authorities in order to identify breaches of the laws and regulations.

The State of Online Gambling and Crypto in Japan

Japan has been one of the most resistive territories in the world when it comes to gambling. However, the country has softened its stance in recent years with the legalization of casinos and resorts casinos – there was significant resistance to these plans particularly due to concerns that the move would result in more case of gambling addiction. As it turns out, there are already a number of illegal casinos operating across the country’s cities and therefore regulation might have been the best way to go about the issue.

Digital currencies and blockchain have also taken off in recent years and people and business have been working hard to find uses for them across several different platforms. Crypto gambling, for instance, has been one of the most widespread and interesting applications of the technology. In the simplest form, these digital currencies can be used in place of fiat currency in online gambling sites and this means that online gambling will be less costly, transactions will be faster and the gamblers can place bets anonymously.

Anonymity, while considered to be a desirable feature by very many gamblers, is not a very appealing idea for regulators. As such, the Japanese authorities have come to the realization that crypto gambling poses a threat to its ability to regulate the activity. This is precisely the reason why the agreement with Tron to purge all gambling DApps from the territory is a major win for the country as it fights to keep gambling activities under its control.

Electronic Arts (EA) Ceases Sale of FIFA Points in Belgium

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Belgium declared loot boxes in video games as illegal and unregulated forms of gambling in 2018 and since then a number of game developers made changes so as to comply with the new law. Not Electronic Arts (EA) though – the company was not amused by the directive and chose to defend the use of loot boxes in video games instead of honoring the law, at least until now. Owing to increased pressure, the game developer has backed down from its previously defiant stance and has now ceased the sale of FIFA Points, an in-game currency that is offered in the company’s FIFA series.

The changes were meant to come into effect by January 1 which means that as from the first day of February, FIFA gamers in Belgium will not be able to purchase points in order to obtain FIFA Ultimate Packs. Fortunately, the players will still be able to access the Ultimate Team and play with their existing players. Also, as it has always been, players will still be able to earn all content in the game through gameplay and use coins as well as the in-game transfer market. For Belgian players who already have FIFA points in their accounts, they will still be able to use them but they will not be allowed to purchase more of them.

Belgium’s and Netherland’s gambling commissions came to the conclusion that loot boxes in video games that were fueled by real-money purchases are equivalent to casino games like roulette or spinning the reels of a slot machine. In essence, most countries, including the United States, classify the spending of real money on wagers for potential reward as gambling. Many game developers are mulling over these facts trying to find suitable workarounds.

What It Means for the Industry

In many ways, Electronic Arts started this whole thing thanks to its decision to include tons of heavy-handed transactions as well as loot crates in Star Wars Battlefront II. Despite the backlash from both players and gaming authorities, EA maintains its adamancy that loot boxes are not a form of gambling. In fact, the company said that it would still be seeking “more clarity” on the matter. Luckily enough, the FIFA Points were not critical to the company’s finances which means that this would have played out quite differently if that was not the case.

All things considered, while Belgium may seem like a relatively small market for video games especially when compared to other countries in Europe, its decision to ban loot boxes is certainly bound to get some attention. As is stands, legislators in the United States, the United Kingdome, and Japan have all been looking into loot boxes in the recent past with the main aim being to protect consumers especially those are underage or at risk of becoming gambling addicts.

Congress Pushing for Federal Oversight over Sports Betting

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After months of speculations details regarding a new bill have leaked revealing plans for a sweeping reform to sports betting in the United States. If the bill passes, states would be required to have their sports betting laws approved by the country’s Attorney General and purchase official major league data.  The latter seems to be a nod to the professional sports leagues which have been lobbying for integrity fees – the sports betting operators would be required to use only league-sanctioned data until at least 2023.

However, the bill which is being, championed by Utah Senator Orrin Hatch who has been a longtime opposer of gambling, is facing a number of significant obstacles due to opposition especially from the growing number of states that have either create their own sports betting regulations or are planning to.

The language in the draft bill seems to contradict the May 2018 U.S. Supreme Court ruling that abolished PASPA and lifted the federal on sports betting thus allowing states to make their own sports betting regulation. To put this into perspective, the Supreme Court ruled that it had found the Professional and Amateur Sports Protection Act (PASPA) to be unconstitutional and decreed that states would be able to regulate their own gambling industries especially with regards to sports betting.

The Implications

The bill not only gives the federal government the power to veto the sports betting laws and regulation that have been put in place by the state governments but also bans the residents of these states from wagering on amateur sporting events. Moreover, the bill will make amendments to the Wire Act and this will allow some elements of sports betting information to flow from one state to another.

In addition to these, the draft bill further calls for the formation of the National Sports Wagering Clearinghouse. This would be responsible for collecting anonymized sports betting data in real-time – this data will include such aspects as the amount and type of wagers, the dates and time when the bets, where the bets were placed as well as their outcomes. In essence, the proposed clearinghouse is meant to monitor unusual betting patterns and potential signs of corruption. The legislation further addresses concerns related to sports betting-related advertising as well as problem gambling, both of which have been very hard to deal with effectively.

So, could this bill pass? Well, the passing any bill is an uphill task mostly due to the country’s contemporary political environment but this particular bill’s biggest obstacle is the fact that it has not been received well by gambling stakeholders. Even the American Gaming Association is against it. In other words, the bill is unlikely to gain momentum, at least not for the upcoming 116th Congress that convenes in January.

Are Esports Operators Prepared to Handle Skill-Based Games?

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Last month, renowned esports gambling website Unikrn announced plans to bring legal skill-based betting to the United States which will allow players to wager on themselves. Players will be able to link their games to their Unikrn accounts and the platform will in turn generated odds for the player based on their profiles within the game. This is one of the biggest milestones since the launch of such skill-based competitive video games such as Player Unknown’s Battleground and Fortnite.

As much as the esports industry is picking up in several different areas, Ian Smith, the commissioner of the Esports Integrity Coalition (ESIC) is concerned that the industry is yet to be prepared for it. To be more specific, Mr. Smith is skeptical about operators like Unikrn having the ability to ensure the skill ratings of the punters match the abilities of those that are manning the game controls.

The Loopholes

One of the most notable loopholes of this model is the fact that some players may place Fortnite bets using their personal account then handle the controller over to a more talented gamer. Similarly, there is the possibility that some players may nuke the game profile and then hustle the system by placing a series of bets. To make it worse, the ESIC commissioner is still not certain about the existence of any tools that identify players and make sure that player is actually the holder of the game account on platforms such as Unikrn’s.

Unikrn, on the other hand, is very confident about the ability of its team to handle issues to do with fraud. According to Unikrn’s chief executive officer, Rahul Sood, the platform has been studying each and every player’s game so as to thoroughly understand the competitive ecosystem of all the games hosted on its platform. This might be the case especially considering how great the platform’s customer experience is – this is only possible by knowing the gaming style of each player. This information can also be very useful for the company if it is to maintain the integrity of the betting platform.

Is This Effective Enough?

It is still quite obvious that it will be very difficult to detect cheating in battle royale such as Fortnite and Player Unknown’s Battlegrounds than in other types of video games. This is primarily because these battle royale games usually feature multiple players all fighting to emerge as the last man standing.

Furthermore, data from these games are not very reliable because their results are not very predictable – most anti-fraud measures are based on the predictability of certain activities or actions. For instance, talented players can sometimes be easily knocked out of the games during the early stages and a less experienced player may, in some case, get lucky enough to win the game. Since battle royale games are not like the conventional esports betting formats better solutions are definitely needed.

High Hopes for US Sports Betting as Pa. Sportsbook Goes Live

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Last Thursday (November 15, 2018) Pennsylvania finally took its first ever legal sports bet. This was after the Pennsylvania Gaming Control Board approved Hollywood Casino at the Penn National Race Course for a two-day testing period that was run by renowned US sports betting operator, William Hill US. Fortunately, the testing period went so well that on Saturday, November 17, the operator was given the go-ahead by the state regulator to proceed with its official launch.

It has been a very long road to the first ever legal sports bet in the state. When the United States Supreme Court lifted the federal ban on sports betting earlier this year in May, the Keystone State’s sports betting could have kicked off on that very day – in theory, is. Pennsylvania’s sports betting laws and regulations were approved in a sweeping bill in October 2017 that complimented Pennsylvania’s booming lottery and land-based casino industry. This has really helped propel the state into one of the country’s most lucrative gambling markets.

More States to Swarm into Sports Wagering Next Year

Of all the states that have operational sports betting industries, Pennsylvania is the perhaps the most consequential especially since it is the most populated state with legal sports betting so far and thus it opens up a major chunk of the US population to legal sports betting. Furthermore, the move significantly bolsters the growing Mid-Atlantic market as a whole – this area has been the epicenter of the gambling expansion in the US following the Supreme Court ruling that abolished PASPA and lifted the federal ban on sports betting.

According to industry experts, at least 12 more states could legalize sports betting next year, and up to eight of them could launch their sportsbooks before the 2019 football session kicks off. This means that within the next 2 years there could be at least 24 states with legal sports betting operations. Among the states that are expected to close in on legislation or new regulations by the end of 2019 are Connecticut, Ohio, New York, Florida, Oregon, Kentucky, Indiana, Illinois, and Michigan.

Even so, the Keystone State’s is quite different from all other states especially because considering the fact that it will be the first state with franchises in each of the four major US professional sports leagues to offer legal and regulated sports wagering. This, when added to the potential size of the market, will make the state a force to reckon with in as far as sports betting in the United States is concerned.

While it will certainly be a while before Americans are able to enjoy a fully-fledged legal sports betting environment, the developments in various states, more so Pennsylvania, is certainly a vital step towards the future many are hoping for.

Partypoker To Sponsor PGA EuroPro Tour In 2019

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Online poker behemoth PartyPoker has recently announced a new sponsorship agreement with the PGA EuroPro Tour in 2019. The deal which was announced on November 1 will see the renowned online poker company feature at stops on EuroPro Tour which acts as a feeder for the European Tour and the Challenge Tour. In addition to branding during the 2019 season, there will be more “promotional opportunities” with some of the golfers as well as visibility across the organization’s social media channels.

While this sponsorship deal will give Partypoker additional opportunities to promotes its brand, the company has been part of some pretty lucrative partnerships in the past. In 2008, for instance, the online poker company became the headline sponsor for the PGA EuroPro Tour Qualifying School. In the past two years, the company has done quite well for itself by reviving its online poker room, launching more live online poker offering and fostering stronger connections with its growing player database.

“We are excited to come on board with the Euro ProTour for the forthcoming season and further strengthen our relationship with Matchroom Sport,” Partypoker managing director, Tom Waters said. “The tour hosts some of the most exciting events across Europe, and we look forward to supporting Matchroom in their quest to unearth the next generation of golfing stars.”

With the PGA EuroPro Tour sponsorship, PartyPoker hopes to leverage the great reputation that has been created – the tour is essentially a proving ground for upcoming golfers. Billed as the “leading development tour” in Europe, the PGA EuroPro is known for graduating its most successful players onto the Challenge Tour which is just one step shy of being the continents biggest and most lucrative golf tour. The top stop is occupied by the European Tour.

“Our developmental golf tour has become one of the leading circuits for young professionals looking to become tomorrow’s superstars of the sport. I am really looking forward to building on an already strong relationship with PartyPoker and can’t wait to see the benefits it will bring to all involved in the PGA EuroPro Tour,” Barry Hearn, the Tour Chairman commented.

More to It Than Meets the Eye

Partypoker plans to set itself apart from other operators by expanding its presence across all the corners of the globe and putting out massive guarantees. However, in Europe, one of the biggest challenges for poker operators is the advertising restrictions that are imposed on gambling-related activities. By partnering with the PGA EuroPro Tour, PartyPoker will have a golden opportunity to advertise itself to millions of fans.