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Gambling in the USA

US Supreme Court ruling and Blockchain growth may launch sports gambling into mainstream

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Bookies or bookmakers were names so because they once carried a hard-bound ledger – or book – to track the various bets they took on sporting events.

So it is natural for Blockchain, the 21st century ledger that only exists in cyberspace, to revelutionalise betting, especially now that the U.S. Supreme Court has legalised sports gambling.

The ruling basically allows individual states to decide whether or not to approve gambling.

The states are unlikely to extend the ban on batting, given the potential amount of money (and tax revenue) at stake. Illegal gambling in the United States reportedly amounts to $150 billion a year.

Any large amounts of money changing hands requires payments technology that ensures speed and accuracy of transactions. But Blockchain seems especially well suited to sports gambling. The technology can provide global transparency and legitimacy to a black market industry people consider particularly opaque and shady, given gambling’s previous ties with organised crime and mysterious entities in Panama and Costa Rica.

“There have been numerous documented cases in which providers of illegal gambling have been found to cheat customers on payouts, cheat the U.S. government by not paying taxes on profits and using illicit profits to support other forms of organized crime activity,” according to a report by the American Gaming Association and Virginia Commonwealth University. “In this way, illegal gambling operations support organized crime and victimize others, rather than benefit patrons.”

The report identified groups like the Armenian Power Group, Costa Nostra families in New York and Philadelphia, and the Outlaws Motorcycle Group as complicit in illegal gambling.

The growing adoption of cryptocurrencies and Blockchain, as we noted in our previous report, combined with the Supreme Court ruling could transform gambling in the United States into a fully legitimate industry.

Even before the high court ruling, gamblers have already been employing Blockchain and cryptocurrencies to wager on sporting events.

In e-sports, for example, people can use digital coins to bet on professional players who compete on sports video games.

Billionaire and Dallas Mavericks owner Mark Cuban last year backed Seattle e-sports startup Unikrn’s $30 million plus initial coin offering. Gamblers can use UnikoinGold digital coins, about one billion in circulation, to bet on online games like League of Legends, Defense Against the Ancients (Dota) and CounterStrike.

“Growth in gambling is going to accelerate,” Cuban told CoinDesk. “Unikrn is better positioned than any other company to leverage that growth not only with their core business , but with blockchain.”

Venture capitalists have already been pouring money into e-sports. From 2013 to 2016, investment in e-sports startups more than quadrupled to $1.5 billion from $309 million, according to CB Insights research firm.

Blockchain could be the industry’s missing piece. The technology not only provides transparency and security to transactions but also accuracy. A big problem in gambling is that parties could renege on bets or cancel them all together after the match. With Blockchain, no one can alter a record without consensus from the entire community.

 “There is one ingredient that stands out in steering token gambling towards a presidential state, Blockchain,” according to a report by Esports Insider. “Essentially an ecosystem for cryptocurrency transactions, this advanced software maintains a clear and concise history of all crypto interactions in a lightning-fast, public, and accurate manner.”

FansUnited, a social sports betting platform in Vancouver, rolled out its own digital currency called FansUnite Token (FAN) based on the Ethereum smart contract platform. The goal is to ensure accuracy of the bets on the five major sports leagues (Major League Baseball, National Basketball Association, National Football League, National Hockey League and FIFA) and speed deposits and withdrawals of funds.

“Traditionally, connecting customers with inherent utility in a gambling product required expensive gateways controlled by firms that don’t have the customers best interests in mind,” the company said in a blog post last fall. Especially for North American bettors, depositing money into an offshore bookie is often a disappointing and risky move.

FAN is “a token which avoids all of the troublesome payment problems associated with legacy gambling,” FansUnited continued. “By connecting FAN value directly to Ethereum, we are betting on the stability and future value of the Ethereum roadmap. Smart contracts are a natural fit for sports gambling, ensuring contracts are honored exactly as entered — no reneging or canceling of bets.”

The Supreme Court ruling will likely lead to an explosion in sports gambling. So sports gambling will need technologies like Blockchain and cryptocurrencies to speed the mainstreaming of activities that have long lurked in the shadows.

Source: sharespost.com

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Gambling in the USA

Happening next week, the Gaming Americas Q1 Meetup (26 January, 2022)

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The Gaming Americas Quarterly Meetups have proved to be of huge success for the gaming and gambling industry in North and Latin America, and the #hipthers are excited to send you a reminder that the Q1 Meetup of 2022 is taking place next week on 26 January.

Launched in 2021, the quarterly meetups are designed to keep you up-to-date with what is fresh in the North and Latin American gambling industry.

The meetups feature several panel discussions per region and topics that are joined by key industry experts, CEOs, C-Level Executives, Business Development Managers, and sometimes government officials/regulators.

All meetups offer the opportunity to network online in special break-out sessions, but also join a round table discussion which answers all burning questions of the industry at a certain point in time during the year. All this is done in a safe, virtual environment.

You can register here for free to receive updates about the speaker lineup and agenda.

As mentioned above, the first virtual quarterly meetup will take place next week on Wednesday, 26 January, and here is the lineup of discussions you can join via ZOOM, WireUp, HIPTHER TV, or YouTube:

Times are EST – (GMT -5) New York Time

  • 9:30 AM – 10:30 AM – Is the LatAm market emerging or maturing (11:30 – 12:30 – Buenos Aires Time)
  • 10:30 AM – 11:30 AM – Is responsible gambling being sufficiently prioritized in the US market?
  • 11:30 AM – 12:00 PM – Fireside chat: Applying different tactics to reaching bettors in North America and Europe
  • 12:00 PM – 1:00 PM – US Legislation Round-up
  • 1:00 PM – 1:45 PM – The Canadian Gaming Industry Updates with Chantal Cipriano
  • 1:45 PM – 2:15 PM – Fireside Chat: SeventySix Capital welcomes new guest
  • 2:15 PM – 3:00 PM – Crypto Catchup with Segev LLP

Among the confirmed experts who are taking part in the discussions you can find:

  • Brianne Doura-Schawohl – Founder and CEO, Doura-Schawohl Consulting LLC
  • Victoria Reed – Co-Founder at Better Change
  • Jenny Lu – General Manager North America of OtherLevels
  • Charmaine Hogan – Head of Regulatory Affairs at Playtech
  • Chantal Cipriano – Vice President of Legal, Compliance & People with PointsBet Canada
  • Gabriel Szlaifsztein – General Manager LATAM at Continent 8 Technologies
  • David Mann – Chief Commercial Officer at Swintt
  • David Charnock – Business Development Executive at FSB
  • Andrea Rossi – Commercial Director Southern Europe & LatAm at Betsson Group
  • David Plumi – Regional Managing Director Latam & Spain at PressEnter Group
  • Tony Ure – Head of e-Gaming, Isle of Man Digital Executive Agency, Department for Enterprise
  • Victor Pronk – Chief Commercial Officer (CCO) at Incentive Game
  • Allan Petrilli – VP of Sales & Growth at Intelitics
  • Hugo Vint – Business Development and Growth for OtherLevels in Europe
  • Brandt Iden – Head of Government Affairs, US for Sportradar US
  • Martin Lycka – SVP for American Regulatory Affairs and Responsible Gambling, Entain
  • Christopher Hebert – Gaming Division Director, Louisiana Attorney Generals Office
  • William J. Pascrell, III, Esq – Partner at Princeton Public Affairs Group, Inc.
  • Ty Jackson – Sports Tech Investor at SeventySix Capital
  • Ron Segev – Founding Partner of Segev LLP

You can register here for free to receive updates about the speaker lineup, agenda, and all upcoming meetup-related information, including recordings.

Hipther Agency is the parent brand of European Gaming, PICANTE, WireUp Zone, and Gaming Americas, eSports Connect, the HIPTHER news app, and the WireUp networking app (in testing phase) found on the Play Store.

To receive constant updates from Hipther Agency and conference agenda updates, subscribe here: http://eepurl.com/hfyZxf

For sponsorship/speaking inquiries, make sure to reach out to Andrada Marginean (B2B Sales Manager at Hipther Agency) at [email protected]

For media-related inquiries, please contact Alexandru Marginean (Marketing Specialist at Hipther Agency) at [email protected]

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Gambling in the USA

Gaming Americas Weekly Roundup – January 10-16

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new acquisitions. Read on and get updated.

Latest News

The wait for mobile sports betting to arrive in New York is officially over. After being named one of the first operators to receive a license for mobile sports wagering operations in the state, Caesars Entertainment made history with its online and mobile sports betting app, Caesars Sportsbook, accepting its first sports wagers in the Empire State.

MGM Rewards is the revamped loyalty rewards programme that MGM Resorts is set to launch on February 1. The “reimagined” programme offers new ways to earn for both gaming and non-gaming spend, plus enhanced guest experiences.

Caleta Gaming has announced that its full game portfolio is online at Foliatti Casino, the first online casino from Mexican Group Foliatti. Video bingos, video slots, kenos, lottos and scratch cards provided by Caleta are already available to Foliatti Casino players.

JCM Global has installed its core product suite at Penn National Gaming’s new Hollywood Casino Morgantown. The $110m Pennsylvania property opened in December 2021, with JCM having installed its product suite – which includes its iVIZION bill validator, GEN5 Thermal Printer and ICB Intelligent Cash Box system – in all 750 games on the casino floor.

Aristocrat Gaming’s Neptune Canopy is now live on casino floors and has made its eastern US debut at Mohegan Sun. Aristocrat’s Neptune Canopy cabinet is a landmark in casino game play. When placed back-to-back, two games create a connected canopy for a sweeping gaming experience unlike any other.

PayNearMe has announced that it has been granted approval by the New York Gaming Commission to provide its MoneyLine platform to licensed operators across the state.

Partnerships

PointsBet Canada has joined the NHL Alumni Association as their exclusive sports betting partner in Canada and official partner in the US.

Madison Square Garden Sports Corp has announced a multi-year marketing partnership with Socios.com, naming the all-in-one influence and rewards blockchain app for sports fans across the world an Official Partner of the New York Knicks and New York Rangers.

The PGA TOUR and FanDuel announced a three-year extension through 2024 to their content and marketing relationship designating FanDuel an Official Betting Operator of the PGA TOUR.

BestOdds.com, a leading sports betting and education brand, has signed affiliate-partnership agreements with Caesars and FanDuel, two of the major US online sports betting operators licensed in New York.

International Game Technology has signed a strategic sports betting agreement with Meruelo Gaming, an affiliate of the SAHARA Las Vegas and Grand Sierra Resort in Reno, Nev., and the Arizona Coyotes.

The New York Gaming Commission has officially legalised the operation of sports betting platforms in the state. The Game Day, an affiliate partner to the major sportsbook operators, has secured partnerships with the four sportsbooks and has begun to market NY-specific promotions and offerings to in-state gamblers and bettors.

New Acquisition

Eilers & Krejcik Gaming has acquired assets of Fantini Research, including its gaming news publications and virtual trade show business. Fantini Research will continue to operate under the Fantini Research brand and will be a separate division of Eilers & Krejcik Gaming.

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Compliance Updates

New horizons in the world of mobile: WakeApp agency received a license to promote gambling in the state of Arizona

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New horizons in the world of mobile: WakeApp agency received a license to promote gambling in the state of Arizona
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The mobile marketing agency WakeApp, which is a guide to the world of mobile, has received another license to promote products in the igaming and sports betting verticals from the Arizona Department of Gaming. This means that from now on, licensed clients of the company can use the services of the agency and get hundreds of thousands of new players in this state.

WakeApp is actively expanding its presence in promising countries and opening up new opportunities to promote products in their territories.

In the state of Arizona, the sports betting vertical was fully legalized only in September 2021.

According to the Arizona Department of Gaming, in the first 2 months after the legalization of betting in this state, players made more than $777 million in bets, most of which were made using mobile devices. This is almost double the previous record in Virginia, where more than $324 million in bets were made in the first 2 months after legalization.

“Right now is a great time to master this market! Structural advantages and unparalleled player enthusiasm will enable advertisers to make the most of the existing acquisition opportunity in the new region.” – CBDO Nikolay Belikov.

Already, the agency has received applications from regular advertisers for promotion in the state of Arizona and is actively preparing to launch new advertising campaigns.

Note: WakeApp is an international project and has been on the market for 7 years, it is also a leader in the development and promotion of gaming and non-gaming mobile applications in the e-com, video streaming, food delivery, sport, utilities, and finance verticals. Earlier in 2021, WakeApp was ranked in 5 categories in the 13th AppsFlyer Performance Index XIII. WakeApp has positioned itself amongst major international competitors such as Search Ads, Google Ads, Facebook Ads, TikTok and others, and also became the only agency represented in the ranking.

 

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