Josh Andrews

Great Times Ahead for Luckbox.com As It Heads to Token Sale

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Luckbox is the latest Esports betting venture that is upping its game with its very own initial coin offering (ICO). Regardless of the fact that Initial Coin Offerings have always been known to be quite stormy, the chief executive officer of the Isle of Man-based startup, Lars Lien is quite confident that the company will not back down from the token issuance endeavor. Being a pro in the gambling space, and having previously worked as part of PokerStars operational team, Lien definitely has a great deal of experience and expertise that will help steer the startup out of the choppy waters of ICOs.

Initially, Lien intended to persuade the PokerStars management to let the renowned casino operator branch out and provide a dedicated Esports offering but this particular opportunity flew out the window when a new owner came along. The primary cause for the dismissal of Lien’s proposal was, however, the emergence of newer and wider developments that had huge impacts on PokerStars as a whole.

“I wanted to build an Esports platform,” Lien says. “And it just so happens that my experience means I have helped to build something unique.”

His dream came true when he joined forces with Mike Stevens, a fellow PokerStars veteran, to finally realize his goals which also included a desire to recreate something that he refers to as the “Scheinberg ethic” of business. In essence, this implies that the two poker pros platform will strive to offer better services and use practices that rise above what regular sports betting operators have to offer. According to them, the Esports betting community is a totally different demographic and thus what Luckbox offers is intended to cater specifically to that population – Luckbox is, by all means, a social experience that features a variety of goals, unlockable achievements as well as nicely implemented social interaction capabilities.

The Token Effort

Already, there are a couple of Esports-only offerings available in the mainstream market with ESP.bet and Unikrn having the largest stakes – like Luckbox, both of them also have opted for the token route as a means of attracting more players and gaining liquidity. While it is definitely a bold move for Luckbox, the decision comes at a time when the whole ICO market is undergoing some major issues. For instance, bitcoin’s vicious fluctuations have had huge ramifications on token markets especially in cases where bitcoin is the buy-in currency.

As it stands, Luckbox has already drawn a larger number of users to buy into LuckCash, its utility coin, and raised about $1.8 million in bitcoin via a private sale. During the February sale, the startup hopes to double down and raised up to a further $20 million ahead of its much-anticipated product launch by the third quarter of 2018. Luckbox tokens were designed with a variety of great features that will leave most of the existing tokens in the dust.

Roger Ver Expands His Online Gambling Site to Accept BCH

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Renowned online casino operator and die-hard cryptocurrency champion, Roger Ver has upgraded his online gambling platform to allow wagers to be made using bitcoin cash (BCH). In September last year, Bitcoin.com, which is Ver’s cryptocurrency portal launched Bitcoin Games – an online casino that used the old Segwit Bitcoin token. Owing to its success, the platform is now branching out in a bid to offer the same services to more cryptocurrency users with its newly launched BCH-powered variation that has been named Bitcoin Cash Games and will feature significantly lower prices than those of its older counterpart.

Ver expressed his confidence in Bitcoin Cash as the core reason for his decision to branch out and venture into an online casino that supported the relatively young cryptocurrency.

In his official statement, he pointed out that “the BCH network and currency has proven itself to be reliable while also offering transaction fees ($0.01 or less) they are practically non-existent.”

This is where Bitcoin Cash has managed to best its older counterpart that is currently the market leader in the cryptocurrency world. So far, the bitcoin fork has managed to hold its ground quite well and it is already making waves in the gambling industry as well as in crypto-trading spaces.

Games offered at Bitcoin Cash Games include provable fair video poker, roulette, keno, blackjack, slots, dice, and craps, all of which feature a 99 percent expected return. The platform further has a referral program that allows players to earn themselves up to 25 percent of the platform’s house edge by enlisting new players.

No registration is required for non-US players using the platform since Ver and company are rather serious about anonymity. The only reason why the US is an exception is the government’s rather paranoid regulations – however, the games are still available to US customers in the form of free-play action.

Cryptocurrency Trading Still Thriving in China Despite Ban

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Last September, China stunned the cryptocurrency community when it announced a crackdown on ICOs after which it further gave all crypto exchanges in mainland China an ultimatum that required them to wind up their operations by October – seemingly a big blow that would potentially kill the nascent Chinese blockchain and cryptocurrency industry. Chinese bitcoin trading volumes had already dropped significantly since January 2017 and prior to the announcement especially because of the exchange fees Chinese exchanges were forced to raise and the AML protocols they were forced to implement by the authorities at the beginning of 2017. Regardless, the country remained a crucial market for cryptocurrency trading, and more specifically for bitcoin.
Surprisingly, the halting of Chinese crypto-exchange operations did not get in bitcoin’s way as its price skyrocketed just a couple of months later to reach an all-time high of around $20,000. At about the same time, three of China’s largest trading platforms, Huobi, BTCC, and OKCoin, all of which were ordered to shut down their businesses in September, relocated their businesses to Hong Kong with the intent to cater to the rapidly growing demand from investors in the city.
Relocating to friendlier jurisdictions seemed to be the best option for the businesses but they were also considering a number of options that included applying for licenses in Japan and setting up over-the-counter (OTC) shops in Hong Kong.

Enter OTCs

Cryptocurrency enthusiasts in mainland China are still able to trade domestically – the only difference is that instead of relying on exchanges to route their transactions, the transactions are negotiated on recently set up over-the-counter (OTC) trading platforms such as OKEx, Huobi, and OTCBTC. As you may have noticed, these OTC operations are forked the parent companies which were previously China’s, or even the world’s, largest crypto-exchange platforms.

Is There a Catch?

Of course, there is! Chinese crypto-junkies who still want to partake in trading activities have to put up with significantly inflated prices. For instance, when compared to traditional cryptocurrency exchanges, the prices on OTC platforms are higher by 10 to 20 percent. Case in point, when bitcoin was trading at $11,730 on Coinbase, the lowest bitcoin price on the Huobi OTC platform was $13,085. However, the government regulations are culpable for the premium that Chinese investors are forced to pay as a result of the limited supply of OTC coin. Still, wittier traders have taken advantage of the arbitrage opportunity to buy cryptocurrencies at cheaper prices from foreign exchanges after which they sell them back on the domestic OTC platforms at higher prices. There are risks like price volatility and slow transaction times involved but the traders are willing to put up with this.

On the OTC platforms, cryptocurrency trading is as easy as buying goods on eBay. All a buyer needs to do is to pick a currency they want to buy and then offers from multiple sellers appear. Buyers are allowed to link their bank accounts or use mobile payment services that are available in China.

NBA Expects a Cut Should Sports Betting Be Legalized

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The United States Supreme Court is still chewing over the legality of Professional and Amateur Sports Protection Act (PASPA), the 1992 federal law that imposed a ban on sports gambling in the country. However, in anticipation that the ban will be lifted and that sports betting will finally be legalized, a number of states are already laying the groundwork for statutory frameworks in the form of various legislations. New York is among these states and it is where hearings hosted by the Senate’s Racing, Gaming, and Wagering Committee were held earlier this week, on Wednesday.

It was at this hearing when a top NBA official revealed the league’s thoughts on what they considered to be an ideal sports betting environment. The NBA wants in on the profits amassed from wagers on professional basketball games in the United States. According to NBA senior vice president, Dan Spillane, the league will be taking on “risk that sports betting imposes” and should, therefore, receive the 1 percent compensation of the total amount wagered on the league’s games.

“Without our games and fans, there could be no sports betting. And if sports betting becomes legal in New York and other states, sports leagues will need to invest more in compliance and enforcement, including bet monitoring, investigations, and education,” Spillane told the committee. “To compensate leagues for the risk and expense created by betting and the commercial value our product creates for betting operators, we believe it is reasonable for operators to pay each league 1% of the total amount bet on its games.”

Who Is Buying It?

Well, at least the league is being halfway honest about it. The NBA is very smart and while it may seem like it, the league is definitely not a victim of circumstance in this case. Case in point, it has been the only league that has been very open about embracing the possibility of a legalized-sports-betting future. Seemingly, the true intent was backed by their vision to use sports gambling as a quasi-revenue stream – which makes their logic pertaining to the whole issue quite assailable. Spillane further argued that a similar model was already in place in countries like Australia and France where there is legalized sports betting and the leagues in said countries are compensated.

The fee represents a colossal financial windfall for the NBA, as well as other leagues which are likely to make similar requests if NBA’s is approved. A renowned gaming research firm estimates that in case states where sports betting is legal or will be legalized agree to compensate the leagues, the total annual revenue will be about $2 billion. At the moment, NBA’s proposal is still nothing more than a statement to kick off a negotiation – on Wednesday, it was greeted with a lot of skepticism thus making its future rather uncertain.

Taking Gaming to the Next Level: Enter the Sweaty Esports

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It would be very easy to pass a line of cyclists spinning madly on stationary bicycles, sweating profusely with their eyes fixed on screen for regular fitness junkies. However, inside Paris’ National Velodrome, there is so much more to what is going on than just a regular day at the gym. The bikes, in this case, are not regular exercise bikes and the 10 extremely fit cyclists decked out in full racing kits are actually pedaling away on svelte racing bikes mounted on indoor trainers which are tuned to vary the levels of resistance to the rider’s effort, just like it would be in a real bike race. The computer screens display a virtual cycling platform which is where the racing action is.

In the virtual racing world, the bike riders have avatars pedaling through landscapes marred with tunnels, dark forests as well as lava-spewing volcanoes. The idea is to simulate a real-world racing scenario – well, the lava-spewing volcanoes is a rather a bizarre addition to it, but that is what video games are all about. The riders’ avatars go at each other in the same way they would in a real race and the feel of it is just as realistic since a steep climb in the virtual world is actuated through an uptick in the bikes’ resistance. The idea that the pain and effort in the virtual world can be reproduced in the real world is what makes this exciting new Esports venture a gem.

Is it the future?

Already, a number of popular sporting events have been spawned from the idea of merging Esports and traditional sports. Cycligent CVR World Cup is one of the pioneering sporting events that intend to marry the growing popularity of Esports with the grit and determination associated with the physical sporting events. This presents a whole new dimension to both traditional sports and Esports, and it will go a long way in merging both markets or even extending it.

While only about 200 spectators attended the Paris race, over 28,000 viewers watched the race online. Similarly, about 1.1 million viewers streamed 2017’s World’s Toughest Mudder Sufferfest on Facebook even though not very many spectators were present at the arena. Now, the International Olympic Committee has shown interest and intends to introduce an Esports tournament as we approach February’s Winter Olympics that will be held in South Korea.

According to Cycligent CEO, Frank Garcia, “Doesn’t physical Esports make more sense? You see suffering and you see elation. People connect with that.”

Clearly, now that Esports has shifted from being a mere fad to an integral part of the sporting entertainment scene, there is bound to be more interest and investments. Esports like League of Legends and Dota 2 are already attracting tens of thousands of spectators to their arenas as well millions more who enjoy the action via various streaming platforms. Online spectatorship has been on the rise for CVR and Tough Mudder as well, and the decision by the Olympics to venture into Esports will be transformative to the initiatives that depend on true sporting excellence.

Why Businesses Should Still Climb On-Board the Bitcoin Train

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Apparently, the world has gone cold on bitcoin ever since its meteoric rise in 2017 but all this has been subject to a lot of debate which makes arriving at a definite answer quite difficult. Considering the rising popularity of altcoins like Ripple’s XRP token and Ethereum, both of which have been trading at feverish rates, it may seem as if bitcoin is no longer the world’s most dominant digital currency. Well, not everyone is of a similar opinion and despite the hit that bitcoin might have taken in recent weeks, cryptocurrency experts have faith that it will eventually bounce back – Tom Lee, one of the crypto experts, believes that bitcoin could potentially double its price by the end of the year. In a CNBC interview, Lee pointed out that bitcoin’s recent price drop is nothing more than a “healthy consolidation” and that by the summer it would be trading at $20,000.

There will always be predictions and speculations emanating from both sides of the crypto divide but it is undeniable that bitcoin has etched out a spot as an established spending tool for very many people.

Bitcoin might have been around for a little less than a decade but this is an incredibly long time in “cryptocurrency time” – it is the oldest cryptocurrency and this means that it will always serve as a benchmark for its successors. However, it is not going away, at least not anytime soon. As such, businesses looking to appeal to the next generation of consumers should lean towards cryptocurrencies, more specifically bitcoin.

UK’s Bitcoin Spending

The United Kingdom seems to have been a trendsetter because it was already gearing up for crypto-powered spending long before bitcoin’s price boom last year. A 2015 Mining Pool study revealed that over 80 percent of Brit bitcoin owners felt that there were not enough places to spend the cryptocurrency at the time.

Also, while typical cryptocurrency traders and users are known to save their coins instead of spending them, Brits have always portrayed a willingness to spend theirs. As illustrated by these habits, bitcoin has evidently breached the mainstream market which implies that a business that invests in it would be making a very wise move.

Effectively targeting and appealing to bitcoin users both in the UK and the rest of the world means that the product has to be in line with market values as well as the underlying ethos. Practically speaking, it is also crucial that the product prices are set in accordance with the latest bitcoin value. The success of the business depends upon the way it will stay up to date with daily bitcoin charts that effectively keeps up with bitcoin’s insane market fluctuations and developing trends. Businesses can then use this information to tailor their prices to offer more attractive deals to their customers or at least an equivalent pricing deal.

One other area that business could take advantage of is the decentralization and anonymity features that all cryptocurrencies offer. Well, of course, total anonymity is still a long shot, but finding ways to reduce the amount of personal data required to make transactions would be very helpful for both the business and the customers. Since the bitcoin ecosystem already has these in place implementing it should not be that hard, should it?

Ex-Revel Casino Customers Tell What They Want In New Casino

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Atlantic City’s former Revel Casino failed due to a number of reasons after being in operation for just a little over two years – these included huge debts, a relatively over-saturated casino market in the northeastern United States as well as what can only be defined as a fundamental misreading of their main clientele base.

However, the casino is set to be reopened with a different name under the leadership of Colorado developer Bruce Deifik who purchased it from Glenn Straub for over $100 million more than Straub got it for. With Deifik at the helm of this new project, there are a lot of exciting prospects for the Atlantic City casino market especially because there are a lot of expectations pertaining to the new casino. Former Revel casino customers have been quite vocal about what they expect from the new casino, all of which revolved around five key factors:

The Casino’s Accessibility Needs To Improve

Revel casino’s layout seemed to be quite an issue for the customers. For instance, the giant escalator that ran from the ground floor to the casino level that was expected to be an eye-catching feature turned out to be rather annoying to the customers. Similarly, navigating through the casino itself was a rather daunting task thanks to the interior layout of the casino floor which ebbed and flowed in several different directions.

The Ban on Smoking

While this would normally seem to be a marketing advantage to the general population where smoking is getting less and less prevalent every year, the gambling population does not really reflect the dynamics of the general population. In fact, it is more likely for gamblers to be smokers than it is for the non-gambling population – as such, many of them smoking gamblers felt that the casino which they were patronizing could at least allow them some room to enjoy a smoke or two. However, there is no official word from the new owners in regards to lifting this ban or at least changing it.

The Food in the Restaurants

Revel casino owned a decent number of celebrity restaurants that would draw legions of loyal high profile customers as well as great reviews from the clientele. The buffet, a casino staple, was however not present and customers were quick to point this out hoping that the matter will be handled before the casino reopens.

The customers want more affordable dining options which may even get better if they bring back some of the customer-favorite eateries.

Initially, Revel casino opted not to have a buffet so as to set itself apart from all the other casinos in its attempt to appeal to the luxurious market of high rollers, financial professionals, and luxury tourists. The management soon came to a realization that that particular market was not large enough to sustain the casino resort.

Entertainment

Revel was already a pretty a popular name among concertgoers who were drawn to it by some of its outstanding features such as the layout and acoustics as well as its marquee events which raised the price bars for the market. Many of former Revel casino’s customers hope to see the return of HQ, the outdoor pool, and day-club.

HQ was one of Atlantic City’s most popular entertainment offerings.

Shopping and Rewards

While a considerably large number of customer revealed that they were happy with Revel casino’s retail outlets, an even more significant number of its former customers want to see more generous offers for all player levels.

Indian Boxer Vijender Singh Joins PokerBaazi as Ambassador

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Poker has been rising in popularity for quite some time in many parts of India with many online poker operators nabbing the opportunity to get a piece of the growing market. PokerBaazi is the latest poker operator that is making tremendous effort to market itself to the Indian poker-playing market through various endorsements with the most recent being their move to sign Indian Super Middleweight boxing champion Vijender Singh.

The signing of sporting figures has proven to be quite an effective marketing method especially in the west where the likes of Neymar Jr, Usain Bolt, Christiano Ronaldo, Boris Becker and Rafael Nadal have represented PokerStars as ambassadors at one time or the other. On a similar note, British former World Super Middleweight champion Carl Froch is currently the PartyPoker ambassador and Brazillian soccer star Denilson is currently representing 888poker. Evidently, the success of the endeavors have attracted the interest of other online casino operators both in the West and the rest of the world – India is just one of them and we should see the trend continue with even more public figure endorsements in the near future. This move is particularly important for markets that are similar to the Indian market where poker is still disregarded because it is not considered to be a game of skill and it is also still illegal. The goodwill that public figures, sports figures, and celebrities attract is rather a big deal when it comes to ensuring that poker is legitimized in the country and that it eventually appeals to the mainstream audience.

In addition to bridging the gap between PokerBaazi and Hindu-speaking states like Uttar Pradesh and Punjab, PokerBaazi founder Nakivran Singh also believes that Vijender’s sporting background will play a significant role in the campaign to take poker to the next level in India.

“It gives me immense pleasure to welcome Vijender Singh on board as the brand ambassador of PokerBaazi.com. As a professional boxer, he has already won tremendous accolades for India in the past. His reputation as a serious sportsperson and champion will help us in promoting poker as a serious sport that only flourishes on sheer skill and talent. We are looking forward to a long-term association with Vijender Singh,” the PokerBaazi founder said in a January 22 press release.

Why Singh?

After winning multiple medals as an amateur boxer, Singh went ahead to win all of his ten professional fights, seven of which were through knockouts. His success on the global stage made him one of India’s leading sports figures and amassed him a Twitter following of over 3.2 million. While the Indian boxer’s social media presence may not be at par with those of former sportsmen and now poker players like Usain Bolt or Christian Ronaldo, his new deal with PokerBaazi will work in both their advantages – 3.2 million followers is still a pretty big deal.

Singh himself is quite happy with his sponsorship deal saying, “As a sportsperson, it is always an honor for me to be part of campaigns or associate with brands that endeavor to promote sports in the nation. PokerBaazi is doing a great job of utilizing technology and letting Indians play online a game that they adore.”

Pixel.bet Gets Into Frenzied Esports Betting Industry

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While the debate rages on about whether Esports betting should be treated as regular sports betting or as a class of its own, a number of startups and established gambling operators are already implementing their own variations of how they think the trade should be handled. For instance, gaming operators such as Pinnacle have already established dedicated Esports portals and are moving forward to implement more Esports-only offerings. Similarly, traditional sports operators have begun to acknowledge the impact that Esports is having on the industry and are thus including a range of Esports offerings alongside their long lists of traditional sports offers.

Pixel.bet is the newest entrant into the growing Esports betting industry. The Curacao-licensed operator which launched a live beta at the beginning of the year opted for an Esports-only approach in a bid to cater for the mobile-first gambling market. Despite being a newcomer to the frayed Esports industry, Pixel.bet has already proved to be quite a spectacle – it offers the usual selection of leading Esports and tournaments that are available on other popular and top platforms. According to the company, traditional bookmakers are not having much luck in attracting Esports bettors simply because of lack of understanding of what they want their betting platforms to be.

“Traditional operators are led by sports and casino — the whole branding, site experience and UX/UI in the products are dictated by this,” says Pixel.bet CEO Richard Smith. “Right now, I think it’s fair to say that most have not put the resource or hired the right people to drive this forward. It’s created a wonderful opportunity, though, for Esports-only brands and product innovation, with the up and coming Esports focused brands.”

Richard Smith believes that by being an Esports-only operator is going to help them in building community trust which the company thinks is very important. Pixel.bet is however not the only Esports-only proposition in the market right now but it is only bound to receive serious competition from Unikrn which is undoubtedly the leading market contender at the moment. Pixel.bet intends to follow in Unikrn’s footsteps and compete at the level of customer experience instead of price. Furthermore, the platform will be built based on feedback from Esports enthusiasts and this will probably see it soar to the top.

MGM Outspends Its Competitors in Connecticut Casino Bid

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The Mohegan and Mashantucket Pequot tribal nations are preparing to begin work on the Windsor casino in a few weeks. Meanwhile, the renowned MGM Resorts International is raising its bet for the state’s lucrative gambling opportunities.

At the moment, up to $20 million worth of monthly revenue is at stake in Connecticut and this can be attributed to the offer for a Bridgeport casino as well as the fierce opposition to the East Windsor site that is within 17 miles of the $900 million MGM casino which is almost complete in Springfield, Mass.

According to a Hearst Connecticut Media review of the Office of State Ethics’ public records, MGM Resorts International upped its ante in 2017 and ended up spending over $3.8 million in ads for both TV and radio as well as in lobbying the state’s lawmakers and agencies who included Attorney General George Jepsen and Governor Dannel P. Malloy. On the other hand, even after going at it as a joint venture, the Mashantucket and Mohegan tribes spent less than $1.2 million, which would obviously give their competitors with deeper pockets an upper hand. MGM Resorts International went further and paid Ballard Partners $270,000 to be its Washington lobbyist to focus on the Department of the Interior and the White House.

While the tribes are not too happy about MGM’s progress citing the casino operator’s disregard for the protection of jobs and revenue in the state, the company’s management are of a totally different opinion;

“It has taken a concerted effort just to be part of the conversation in Connecticut,” said Bernard Kavaler, MGM’s spokesperson. “We continue to believe that an open, competitive process would be best for the state and its taxpayers, and we continue to believe that Bridgeport is the best location — in terms of jobs and economic development — for a commercial casino in Connecticut.”

MGM’s efforts are also gaining a lot of support from various lawmakers since according to Av Harris, director of legislative affairs and public policy in Bridgeport, MGM has been “very consistent and very serious the whole time about their interest in developing a major casino/entertainment facility” in the city.