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Is Malta Blockchain companies set to overtake iGaming?

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Malta’s iGaming industry has grown spectacularly for two decades, but now they have a competitor in town: Blockchain technology. The strides blockchain technology has taken have been so considerable that it is being compared to the beginning of the internet itself.  It is hailed not just as a huge driver of economic growth, but it will also as a changer of the way we do everything, from handling data to the structure of the banking system.

According to the World Economic Forum, at least 10 per cent of the global GDP will be managed and facilitated through blockchain technologies by 2025.

Malta has managed to carve its economic success through an economic vision based on the power of regulation and jurisdictional innovation. The dedication of the government, the support of the public, and the business sector allowed the country to thrive in the regulated industries.

The iGaming industry has been a backbone of the Maltese economy for many years now and has seen the country becoming an internationally renowned jurisdiction for the registration and operation of iGaming companies. Currently, Malta is looking at repeating this success yet again by creating a regulatory framework for blockchain-based businesses, virtual currencies and ICOs.

There exist some similarities between blockchain and iGaming regarding their popularity and the way in which they have grown and could grow in the future. The iGaming industry was initially regarded with cynicism and skepticism, but with time, and adequate regulation and adherence to legal standards, it has gone on to flourish and become a massive part of the Maltese economy.

Blockchain technology is similar in some respects. A new, and to some, unknown bit of tech, it has made waves across the business community, and while some are wary of it still, it is being adopted more and more by leading companies and businesses. Its potential is vast and far-reaching, and if Malta can position itself at the right time, and in the right way, it can be set to reap the benefits of what the future will bring.

The iGaming sector was regarded with suspicion in the early days, but now, without it, the economy would not be in the same, healthy shape that it is.

It is expected that with the introduction of the government’s blockchain strategy, as well as the quick uptake of the technology from local businesses, Malta will soon lead the way in this exciting new sector. This means that not only will it improve its reputation as a digital leader, but it will also bring a massive boost to the economy and create more jobs. This is precisely what iGaming did.

Blockchain will also boost other industries that complement it – hardware, software, marketing, legal, financial, the list goes on for those stakeholders that will be able to grow and nurture their businesses when blockchain takes off.

It is unlikely that iGaming and blockchain companies will compete in the traditional sense of the word. They are entirely different industries and as such require very different legal, creative, and administrative staff. Additionally, the client base would not be affected either as the concepts are so different, it is unlikely that iGaming would lose any business to the world of the blockchain.

It is expected that the introduction of the new blockchain frameworks will influence the existing regulations around the iGaming industry. These new proposals will also provide the iGaming industry with faster, cheaper, and more efficient alternatives to traditional payment methods which will revolutionise the way in which they both take payment, and pay out winnings. Rather than pitting the two industries against each other, legislators and stakeholders need to find a way to ensure they complement each other and offer new ways to do business, and to grow their respective sectors.

Already the seeds of cooperation are being sown, and some iGaming platforms are preparing to use the Distributed Ledger Technology to their advantage. One of the primary improvements will come to the most burden area of iGaming – trust. By using smart contracts, gambling platforms can use a distributed public ledger that is entirely transparent and allows users to see the information freely at any time. Those that will increase levels of fair gambling will automatically win their customers’ trust and position themselves at the forefront.

One area, however, where there may be a bit of overlap is the talent pool. Currently there is a considerable shortage of developers that are capable and trained in matters of the blockchain. Blockchain start-ups are offering considerable salaries to those that can do the job, and this could result in a situation where developers and programmers involved in the creation of iGaming products, could be tempted to hone their skill set and jump ship to the blockchain.

While blockchain as a technology cannot be regulated as such, its use and scope can. Yet the key is not to stifle its potential and ensure it remains as a catalyst for further innovation.

By combining these two industries, we can create a fairer and more transparent gambling sector with a more secure and open infrastructure.

These two industries combined will be of a considerable benefit for Malta economically, socially, and in the world of business. It is already on the map for its iGaming industry, but with the country taking huge strides into the ICO, blockchain and cryptocurrency industry, it is set to solidify its reputation as a world leader in innovation.

 

Source: bitemycoin.com

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7-Eleven selects Jackpot.com as their official lottery partner

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Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.

Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts  

Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.

As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.

“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”

By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.

Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.

To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.

 

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eSports

The World Esports Summit 2024 Is Here!

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The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.

This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the

Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.

The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:

  • (R)Evolution in Esports
  • East Meets West
  • Esports Integrity: The Role of Referees
  • The Rise of International Esports Competitions
  • (In Korean) Korea’s Secret Sauce etc.

Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.

These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.

Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.

Registration for the World Esports Summit is free and open to all interested attendees.

To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration

See you in Busan!

 

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eSports

Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference

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Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience.

As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.

Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.

Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC  key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .

“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are  committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.” 

Looking ahead to ICE Barcelona, Akhil Sarin stated:  “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”

He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”

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