Dogecoin Use in Online Gambling on the Rise

Reading Time: 2 minutes

It is undeniable that memes are to blame for Dogecoin’s rise to fame as one of the most popular cryptocurrencies. The cryptocurrency is more often referred to as DOGE. The instantly identifiable outline of a Shiba Inu dog, which acts as the insignia for the business, has swiftly grown to become a well-known brand in a very short length of time.

There is no sign of Dogecoin’s popularity waning anytime soon, and new sites that take DOGE are popping up every day. Today, it’s no surprise that Dogecoin casinos are favored by gamblers, given the ease with which they can make deposits and withdrawals and the minuscule costs associated with doing so.

As it stands, Dogecoin is accepted by reputable companies.

A Change of Pace

For a long time, the widespread use of DOGE coins as a payment method has not materialized as many would have anticipated since many DOGE aficionados would rather HODL. However, Dogecoin’s popularity is soaring in one sector because of its speed and low costs: the gaming business.

Traditional casino games such as blackjack and roulette may now be played using cryptocurrency as the medium of exchange. While Bitcoin is the most popular option right now, Dogecoin is quickly gaining popularity.

When compared to Bitcoin, Dogecoin transactions complete far more quickly. Furthermore, due to DOGE’s widespread acceptance across the world, it may be used to make deposits at a large number of online casinos. Additionally, Dogecoin has a sizable following on social media, which numbers in the millions, and its supporters can be found in every region of the globe.

In the midst of the recent cryptocurrency downturn, Dogecoin has seen a surge in interest while other meme coins have mostly stagnated. To expand its user base and appeal to new investors, Dogecoin is also actively pushing its usage in daily transactions.

Is It a Good Investment for Online Gamblers?

The widespread use of cryptocurrencies and the excitement around them are not merely about financial benefits. Doge is an excellent and shrewd investment opportunity due to its unique position in the cryptocurrency market and its current cheap price. As a result, it has room to grow in value.

Despite this, Dogecoin, like the prices of all other cryptocurrencies, is subject to significant price swings. With the help of its dedicated investor base, this cryptocurrency has been able to outlive almost all of its forerunners in the altcoin market. To a greater extent than many other digital currencies, this has allowed it to maintain a high degree of stability.

Polygon Now on 1xBit

Reading Time: 2 minutes

Players and users of the popular gaming site 1xBit now have access to Polygon, a new cryptocurrency designed specifically for usage in crypto games. Polygon, a novel digital currency, is the brainchild of Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Together, the four of them saw the need to fix Ethereum’s lack of interoperability. Ethereum’s seamless interaction with other blockchains was a pipe dream until Polygon made it a reality.

Of course, it’s about a lot more than that. With Polygon’s simple-to-use architecture, developers now have a chance to introduce their own groundbreaking Ethereum-friendly blockchain. Now the development of an “Ethereum Blockchain Internet” has become feasible with the help of the Polygon network.

This ground-breaking network is completely compatible with Ethereum’s Virtual Machine (EVM). Chains that are connected keep their independence and control themselves. All of these systems are compatible with Ethereum and can communicate with one another.

Solid Debut

The cryptocurrency community as a whole has warmed to this new development due to its unique character. It thus comes as no shock that 1xBit has included Polygon as a bitcoin payment option. Since its inception, 1xBit has been a bitcoin betting platform that keeps an eye on the latest and greatest cryptocurrency developments to provide more betting alternatives to its customers. There is a really bright future for the project within the context of crypto gambling going forward.

The Polygon network stands out among Ethereum’s decentralized exchanges because of its emphasis on both interchain cooperation and decentralized security. This ensures that no blockchain is compromised in its pursuit of interoperability.

Some of the amazing features that users can look forward to include:

  • Support for dozens of other digital currencies
  • Even faster payments
  • Amazing welcome bonuses and other incentives
  • Fast and user-friendly registration
  • Unmatched anonymity capabilities

When using 1xBit, polygon transactions are quick and inexpensive. Players should expect to get their winnings as soon as possible. All new players are also eligible for a 7 BTC Welcome Bonus, spread out across their first four deposits. That is a really well-rounded package that will push 1xBit’s efforts even further.

Could Crypto Wagering Be Coming to Australia’s Regulated Gambling Industry?

Reading Time: 2 minutes

Wagering in cryptocurrency might join the realm of legally sanctioned gambling if reports of discussions between the Northern Territory Racing Commission (NTRC) of Australia and gaming enterprises and license holders are true. The deadline for interested parties to submit their comments to the regulator is September 29.

The NTRC recently sent a piece of correspondence to all of the gaming companies that have valid licenses as part of their ongoing efforts. These gaming companies include well-known international gambling businesses like Betfair, Entain Group, and Draft Kings, among others.

The paper requests their comments on the viability of cryptocurrencies being used in gaming in the Northern Territory. In addition, licensees are asked for their input on the paper on the kind of legislative and industry reforms that would be necessary to make this a reality.

“What it provides for is a licensee, say a sports bookmaker who holds a license in the Northern Territory, who wants to accept cryptocurrency for striking or paying out wages, [is that they] need to apply for consent to be able to do that. And there’s certain conditions that attach to that.”

~ Julian Hoskins, the principal of Senet, one of Australia’s major gambling law and regulatory advisory firms.

At least for the time being, gamblers using one platform will have to make separate wagers in fiat currency and cryptocurrencies. This is because these two forms of currency won’t be able to be exchanged for one another while gaming.

The Tax and Legal Implications

According to sources close to these initiatives, the NTRC is also mulling over the subject of the tax implications of utilizing cryptocurrencies for gaming purposes. It will take a bit of time to understand the full scope of that but there are certainly a lot of potential solutions.

Nevertheless, the use of cryptocurrency in gaming would first need jumping over several legal hoops, such as adhering to strict identification criteria to comply with Anti-Money Laundering (AML) legislation. It is quite probable that gamblers will be required to have the addresses of their cryptocurrency wallets validated, and winnings will have to be withdrawn to the same wallet that was used to make the original deposit.

As is standard procedure in gaming that is based on fiat currency, local gambling enterprises will be legally obligated to have cryptocurrency wallets that store sufficient cash to adequately collateralize the wager amounts of their customers.

Crypto Betting in the Current Crypto Crash

Reading Time: 2 minutes

As a result of the global political and economic turmoil, the cryptocurrency market has deteriorated sharply in recent months. This is the lowest price for bitcoin in the last couple of years. Of course, this has had significant ramifications across a wide range of industries, and the gaming sector is no exception. The bulk of gamblers have converted entirely to bitcoin gaming; thus they are suffering large losses as a result of the collapse of the cryptocurrency market.

There is no way to know for certain whether the value of a bitcoin will increase or fall further in the months to come. The professional perspectives on this topic are all over the place, and there has been no agreement on any definitive conclusions yet.

On the other hand, crypto gaming has emerged as one of the most popular methods used in most casinos over the last few years. Consequently, players who possess significant amounts of Bitcoin have been subjected to rather disastrous outcomes.

Accordingly, by looking at current data, we can see that many gamblers have decided to abstain from betting with bitcoin, at least for now. Instead, they plan to wait to see how the possibility presents itself in the future.

Critical Learning Opportunity

When it comes to crypto gaming, insiders say that there is no cause for excessive panic even though the market collapse has been devastating. A growing number of crypto-friendly casinos have been established during this time. This is because these casino operators have remained confident that the cryptocurrency sector would play a vital role in their futures.

All parties affected by the market crisis will get valuable insight on how to better protect themselves from such events in the future. To protect clients who incurred large financial losses, several consumer protection regulatory laws will also be put into place. For obvious reasons, Bitcoin is in the spotlight, since the value of this one cryptocurrency almost always dictates all others.

Whether or not the economy will recover hinges on how investors respond to these developments. Many people feel that despite the present economic climate, the price of Bitcoin and other cryptocurrencies will continue to grow. Despite the evidence in favor of this assertion, we nonetheless advise bettors to proceed cautiously and avoid making hasty decisions.

Gambling platforms have now devised a strategy for dealing with the situation at hand. People are encouraged to retain their money in cryptocurrencies since the industry is projected to increase soon. This might take weeks or even months since it is difficult to narrow down specific timelines for those improvements.

Everton FC Inks Partnership with Crypto Casino Stake.com

Reading Time: 2 minutes

Everton FC, an English Premier League team, has recently struck a multi-year agreement with the online casino and sports betting website Stake.com. This cooperation is yet another example of a crypto-sports collaboration as the sector continues to expand across the globe.

As expected of man crypto venture, the figures floated around have been nothing short of mind-blowing. The sponsorship agreement with the Australian casino is reportedly “the highest value front-of-shirt deal in the club’s 144-year history.” However, the specific sponsorship value has not yet been revealed.

In light of the recent developments, Everton’s Chief Executive Officer, Professor Denise Berrett-Baxendale, said that Stake.com is an ambitious organization with excellent expansion ambitions. He further noted that the company’s employees are extremely thrilled to be collaborating with Stake.com at this point in the company’s development.

He also praised his staff for the outstanding progress they have achieved over the last several months and their relentless effort to clinch the partnership contract that is the largest in the club’s entire history.

Stake.com’s History

Stake.com is recognized as one of the most successful operators and largest brands in the gaming and sports betting industries despite just having been established in 2017. As a result of its rapid growth, it now processes more than 80 billion transactions each year and has more than five million registered customers. As part of its extensive worldwide sponsorship portfolio, Stake.com is happy to expand its partnerships with a broad range of well-known athletes, celebrities, and organizations.

Stake.com is a privately held company with over 200 employees located in a variety of different legal jurisdictions. The organization does its business in the United Kingdom under the domain name Stake.uk.com and is licensed to do so by the Gambling Commission under the name TGP Europe Limited.

This agreement adds another layer of depth to Stake.com’s already vast global sports sponsorship portfolio. That already includes relationships with the UFC, soccer icon Sergio Aguero, and English football team Watford FC, in addition to worldwide multi-platinum musicians.

 A Few Setbacks

Currently, the UK is considering gaming reform, which might have an impact on the agreement. A blanket ban on betting firms giving significant shirt sponsorship was seriously under consideration. The United Kingdom government has, however, chosen to defer plans to prevent gambling corporations from sponsoring the jerseys of English football teams.

There appears to be some fan backlash, though. Over 20,000 individuals have signed a petition condemning Everton’s record sponsorship arrangement with Stake.com.

NFT-Powered Gaming Platform Kryptomon Raises $10 Million

Reading Time: 2 minutes

Kryptomon has completed a Series A investment round, which was led by NFX and resulted in the firm raising a total of $10 million. The current value of the company is $50 million. In addition to that, it received extra backing from PLAYSTUDIOS, Griffin Gaming Partners, Tal Ventures, and Vikram Pandit, who had previously served as CEO of Citigroup.

The play-to-earn (P2E) platform is a non-fungible token (NFT) game that was established in April 2021 by Umberto Canessa. It is a hybrid of the gameplay of traditional video games like Pokémon and Tamagotchi with the ownership features of prominent non-fungible token projects such as CryptoKitties.

How It Works

Collectible NFT animals with unique, variable genetic qualities are brought to life in the play-and-earn game by drawing influence from classic games. While exploring the vast mythology of Kryptomon’s Metaverse ecology, users may breed, grow, and fight other players’ unique monsters in multiplayer battles.

Monthly augmented reality “Treasure Hunt” events are also a part of this experience. Players may earn NFT eggs, KMON tokens, and other in-game objects by exploring the world around them with the innovative move-to-earn feature.

Big Boost

The listing is about to make things even better. Users of Kryptomon may now get immediate access to a variety of useful features in the game’s other realm. Bybit is a one-stop crypto destination for the expanding Kryptomon community, making it simple to buy KMON tokens, which power all aspects of the Kryptomon play-and-earn experience.

In addition to the treasure hunts and in-game possibilities to earn KMON, the token listing provides a head-start for gamers who want to expand their Kryptomon roster.

“Our game and Metaverse are nothing without our community, and having our token listed on a renowned platform allows us to develop an even greater and more rewarding experience for the next generation of players while expanding our international community.”

Umberto Canessa Cerchi, Co-Founder and CEO of Kryptomon.

Cryptocurrency trading and exchanging is made simple with Bybit’s revolutionary, highly sophisticated, and user-friendly platform. Bybit’s best-in-class infrastructure ensures the safest, quickest, fairest, and most transparent trading experience in the market.

A company founded on customer-centric ideals, Bybit is dedicated to helping cryptocurrency enthusiasts realize their aspirations and gain their liberation. This makes it a great partner for Kryptomon’s ambitious expansion plans.

Addiction Specialists Point Out Dangers of Crypto Trading

Reading Time: 2 minutes

Young males trading bitcoin have begun to seek therapy for symptoms linked with problem gambling, according to gambling addiction advocates. Four or five males, most of them young, have reported a lack of control over their crypto trading in the last two years.

Now, is it possible to become hooked on cryptocurrency trading? Well, the concept is divisive, but it is certainly not out of the realm of possibility. That is especially in the lucrative addiction-treatment market which has been growing as gambling and related industries expand across the globe.

Crypto, of all things, has made its way to rehabilitation facilities. Services related to trading addiction now include a $90,000-per-week facility. If that seems to be too pricey there are also alternatives like the comparatively low-cost teletherapies.

A very small percentage of people who experiment with technologies like Bitcoin will ever run into issues. That might make taking addiction seriously a bit of a hassle. Moreover, the exact clinical terminology is also a still point of contention.

Special Scientific Attention

As niche as it may seem, addiction to crypto trading is getting quite a bit of attention from many activists and mental health specialists. A rising number of experts are looking into the world of cryptocurrencies. In their guidelines, they have marked them as a potential source of problems, like gambling but perhaps more devious in some ways.

Our brains have an insatiable need for money. The high from certain drugs and the joy of purchasing a lucrative piece of crypto are both governed by the same reward circuits. In fact, an extended variant of one cerebral receptor, dopamine receptor No. 4, has even been linked to a proclivity for financial risk-taking, according to studies.

To make it even worse, many established digital currencies have taken on the appearance of respectable investments, notwithstanding the lunacy that may exist in the realm of cryptocurrency. As such, many individuals can justify speculative wagers that are often nothing more than a gamble. Furthermore, crypto-trading takes place around the world, 24 hours a day, 7 days a week, and is accessible to lots of people through computers and even mobile devices.

“Excessive crypto trading and high-risk stock trading could be forms of gambling and lead to gambling disorder.”

– Lia Nower, director of the Center for Gambling Studies at Rutgers University –

It will be very interesting to see where all the studies and efforts to rationalize crypto lead. The sector is growing rapidly and any kind of checks and balances that make it safer for everyone will certainly be well-appreciated.

 

Crypto Casino Project FoggyStar Receives $5 Million Investment

Reading Time: 2 minutes

Fast-rising crypto casino FoggyStar.com has recently received a whopping $5 million investment. Aimed at pushing the operator’s ambitious crypto plans forward, this investment from Canadian and Japanese investors will certainly shake things up not just for FoggyStar but for the online gambling industry as a whole.

For many people, this might come as a surprise especially considering the fact that the operator is just a few months old. It officially kicked off operations at the beginning of the year and its core product is just now in its alpha version. However, it has a lot going for it hence the confidence that the investors have in its operations.

As it stands, FoggyStar offers a solid range of games from reputable software developers including Play’n GO, NetEnt and Pragmatic Play. In addition to the crypto-powered casino games, the gaming site also features an outstanding bonus program that is specifically designed to appeal to the growing community of crypto gamblers.

More To Come

Clearly, there is a lot of optimism about the operator’s potential for success. With the investment secured, FoggyStar will be able to pursue even more growth. There are already plans for the development of additional features. The goal with most of these products is to create an open platform that can be scaled and used elsewhere. In addition to that, FoggyStar is working on ensuring that the products that are in development all use crypto at their core.

The approach has very clearly-defined targets too. Not only will the company be able to scale the audience but it will also be able to increase engagement and the trustworthiness of crypto products.

Speaking on the development plans, the FoggyStar team states that the goal is to ensure that the interests of their target market are met. The product will leverage industry trends while at the same time leveraging some of its unique selling points.

“The project is focused on the users and the security and transparency of the infrastructure that surrounds them. Our team aims to improve the project using innovative technologies and methods that will lead to a completely new game experience.”

All these are very important aspects and it is great to see that FoggyStar is paying close attention.

Plans for the Metaverse

FoggyStar, as it turns out, also has huge plans for the Metaverse. It is working towards becoming the very first online gambling venue in the metaverse. This move will not only push the industry forward but also redefine how we think of the casino of the future.

Crypto and Sports Betting Apps Reaping the Benefits of Super Bowl Ads

Reading Time: 2 minutes

This year’s NFL Super Bowl went down in history as one of the most memorable ones. From outstanding performances to great games and a massive turnout, it is certainly going to linger in our minds for much longer. One of the other things that really stood out about the Super Bowl was the fact that crypto and sports betting ads appeared several times during the event.

Like previous events, the ad spots at the 2022 Super Bowl were pretty pricy. The crypto-focused businesses had to part with a pretty penny to push their marketing agenda to the huge audience at the Super Bowl. As it turns out, every second of ad time was worth it.

According to Sensor Tower, a company that specializes in data research, three of the top mobile brands that were advertised at the Super Bowl LVI were crypto apps. This is even though many of these apps were already being outspent by their traditional counterparts.

The Winners

The biggest winner turned out to be Coinbase Global Inc., one of the world’s most renowned crypto operators. Its ad was perhaps the most favorable of the bunch. That is because it was not only creative but also drove the message quite well. The response was so good that there was a massive influx of visitors who ended up crashing the company’s app. App installs have also increased significantly since.

Other crypto apps that also managed to get more followers after the Super Bowl included Etoro and FTX. Joining them were some of the most popular sports betting apps in the United States. The DraftKings sports betting app only came second to Coinbase when it comes to the number of new users it netted thanks to the Super Bowl ads. Caesars Entertainment Inc.’s sports betting offering was not far behind DraftKings.

Cause for Concern?

While these Super Bowl ads were successful, there have been a few concerns that have been aired. The issue of responsible advertising which has been a key conversation in the world of betting is also now beginning to take off in the crypto world.

Among the sentiments that were shared about the event was that it sold something other than the future that blockchain and crypto promised. These, of course, can be backed by some pretty solid points.

Still, it is worth acknowledging that crypto has indeed come a long way. Mainstream recognition like in the Super Bowl might just have opened doors to what the future of crypto and sports betting will look like.

Paysafe Enters New York’s Sports Betting Market

Reading Time: 2 minutes

Renowned specialized payments services provider Paysafe has recently announced its expansion into New York’s rapidly-growing sports-betting market. This is a big play for the company especially as it pursues its ambitious plans to become the leading brand in affiliate marketing and online gambling payments. Its target markets for this expansion are the United States and Canada.

As it stands, Paysafe has already begun processing betting payments for some popular mobile sportsbooks in New York. It is also now behind several affiliate programs that are meant to increase eminence in the lucrative market. The latter is particularly important as it is a vital component in marketing. Both customer conversion and the growth of various online gambling brands hang on this.

Paysafe’s CEO of North America iGaming, Zak Cutler has been at the forefront of these developments which he believes will be very important for the wider market.

“Payments and affiliate marketing play essential roles in customer conversion and the growth of iGaming brands and the wider market. We’re proud to have supported the ongoing expansion of the North American online gaming space in 2021 through 2022, with our recent entry into New York – a pivotal market that will hopefully galvanize broader US state and Canadian provincial regulation,” he noted.

New York is not the first state that Paysafe is making a big play for. The company already has a solid presence in several other states including Montana, Arizona, Connecticut, Virginia, Michigan and Wyoming among others.

Partnership With Binance

Something that will certainly get crypto enthusiasts in the Empire State very excited is the planned partnership with Binance, one of the world’s most popular crypto exchanges. One of the indications that this was a very exciting development was the broad-based gains for stocks. This eventually stabilized and fell back to the breakeven line at about $3.46.

For Binance, this partnership is going to bring some new developments in addition to reviving previous projects. For instance, the crypto exchange is reopening EUR transfers via SEPA channels.

This reopening of the SEPA channels was possible because Paysafe will be Binance’s fiat on-ramps partner in Europe. The payment service provider has already developed a specialized platform that leverages their experience and resources in the online payments space. While the initial plans seem to be focused on the European market, we are optimistic that it could be scaled across several markets soon. It will not be surprising if North America becomes one of the partnership’s target markets as well.