Luckbox has long been one of the top contenders in the Esports world as far as sports betting is concerned. More people have been attracted to the Esports scene thanks to the unique opportunities for participation that the platforms such as the Bitcoin-powered Luckbox have been offering.
Things are about to get even better for both the company and its customers following a recent announcement that the company has obtained its own Isle of Online Gambling Regulation Act licensing, making it the very first Esports betting operator to acquire a license of that kind.
The license that is now held by Real-Time Games Holdings Limited, the company behind the Luckbox brand, was issued by the Gaming Supervision Commission and falls under the umbrella of the Online Gambling Regulation Act (OGRA).
The Online Gambling Regulation Act ensures that online gaming operators carry out their activities in compliance with the strict regulation in the jurisdiction – this a measure put in place to ensure that the players are only presented with the highest level of safety and security when they place wagers online.
Luckbox chose to pursue the license from the Online Gaming Regulation Act simply because the license is considered to be one of the most reputable gambling licenses in the globe – it requires all player funds to be held in mechanisms that guarantee players of compensation in case an operator goes into liquidation.
In addition to this, the licenses will allow Luckbox to accept cryptocurrency, fiat as well as in-game items as currency for game transactions. It joins some other outstanding brands such as FullTilt, SBO, PokerStars, Quanta and 188Bet that are also holders of OGRA licenses.
“This is a significant milestone for our project. As well as building an industry-leading product, having a top-tier license is what sets us apart. It offers the best protection for players and opens up fantastic opportunities for us as a business, not least enabling access to compliant marketing channels, the ability to be listed on mobile app stores, as well as accessing traditional gambling infrastructure developed over the past two decades,” Luckbox chief executive officer, Lars Lien said.
“Having received the OGRA license, established a brilliant development team and now being confident with our infrastructure partners, I am confident we will deliver an amazing product early next year that will be very hard to copy. All in all, it is fantastic news for the team and all those who have supported us so far – we are so grateful for your help.”