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Blockchain: the new paradigm for iGaming

George Miller

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Blockchain is the new technological paradigm redefining the way to transact
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The blockchain is the new technological paradigm redefining the way to transact. This type of technology has the potential to change the way we purchase and sell, interact with the authorities and verify the validity of services and things. It merges the openness of the Internet with the security of advanced cryptography and it offers its users a swift, clean and transparent manner to verify key data and build trust.

Why the blockchain though?

There is significant investment in blockchain technology from tech industry giants such as Microsoft and IBM with millions of dollars spent on blockchain-powered projects. Furthermore, it is estimated that the financial and banking industry would be able to save $8 to $12 billion annually if employing blockchain solutions. The technology is already showing potential and it is expected that the global blockchain market to be worth $20 billion by 2024.

Since its inception, there has been an immediate boom of interest due to its potential. In spite of its popularity and the frenzy it has created, this new technological development is often misunderstood and misplaced. But how can the blockchain be applied to different industries? Is it that flexible it can disrupt key industries with its revolutionary idea? Despite the current application of blockchain in various fields and industries, statistics show that an overwhelming 84% of C-Levels are starting to be aware of its potential and are looking at incorporating this revolutionary technology in business operations. Thus, we are not talking about a trend anymore, but we are looking at a viable alternative option to our traditional system.

Is the Blockchain a game changer?

First of all, the blockchain it was created to offer transparency and accountability when transacting. Secondly, this new technology does not represent a universal replacement for systems of production and finance, but it is more beneficial to certain industries only. Thirdly, the blockchain goes beyond transactional security as it creates a public ledger where all transactions are recorded and instantly verified against each other to ensure accuracy.

The rush to pioneer new technologies, or to apply existing ones in innovative new ways, is fierce. Businesses constantly seek to stand out from the crowd, and the fastest way to differentiate one’s self is by delivering the best user-experience. Blockchain’s fundamental feature is to create an engaging user experience rather than being a ubiquitous solution to our traditional operations systems.

Among the industries where blockchain can have a positive impact and set ground for a new experience is the interactive gaming one where different solutions started to flourish as soon as the crypto frenzy made its way out. However, as blockchain started to disrupt the gaming arena, consumers started to get more familiar with the benefits, all in an environment they are already used to.

The gaming industry and blockchain technology are the major actors of a new wave of competitive technological upheaval. New projects, such as the ICOs, provide open source development and economic frameworks that can offer game developers the chance to break new grounds.

So the question is, what can the blockchain do for the gaming industry?

The need for innovation in the gaming industry is acute. But to disrupt the industry, the concept of a fair game, based on transparency and some luck, has to be a top priority when incorporating the blockchain technology. The current consumer demographics is different than a decade ago when the gaming industry took off and users tastes and preferences became much more complex. Thus, blockchain technology represents a natural step in this situation and it is more than an overhyped marketing trigger. It creates new value by designing new generation solutions which are more efficient, trustworthy and transparent.

Despite blockchain being used by several gaming projects, only a few survived and most of them are advertising themselves as “smart casino” platforms offering popular games.

However, blockchain technology proves to be a more fit option for a different type of gaming project that is a full-scale specialized B2B platform aiming to provide the gaming operators with an innovative blockchain experience. One of such projects is SP8DE, whose objective in 2018 is to launch a sophisticated decentralized blockchain-based system for online and offline interactive gaming providers.

Evgeny Borchers, co-founder and Chief Visionary Officer of Sp8de explains. “SP8DE’s protocol is a striking use case that provides actual value not just for the gaming industry, but for anyone who needs to reliably and accurately generate random numbers with an indisputable public “paper trail” that ensures transparency. Numbers cannot be manipulated by anyone and it’s also easy to implement. The platform is specifically designed to address the challenges that publishers would normally face in integrating such a new technology with their existing tech stack. Thus, the SP8DE protocol is combining the benefits of off-chain and on-chain RNGs which makes it easier to implement for different kinds of gaming providers”.

Ensuring a brand new user-experience and security using public ledgers could be the answer for game developers to step up their competition. After all, blockchain seems to be the solution for revamping the world of gaming companies and their users. It is a matter of vision and research for entrepreneurs and projects in the gaming industry to make the most out of the blockchain technology. It is only a matter of time until more smart ideas will emerge and the game arena will do blockchain technology justice.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Lottoland Announces The 4th Biggest Global Jackpot In History

George Miller

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Lottoland Announces The 4th Biggest Global Jackpot In History
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MegaMillions jackpot rolls to 654m USD – and could reach a record $BILLION by the end of the week

One lucky Brit could be in line to claim a near 500million (GBP) prize* this week after Lottoland announced its second ever largest Mega Millions jackpot.

This week’s top prize has reached a whopping 654m in USD to become the 4th largest jackpot in history – and is just two rollovers away from reaching an eye watering $1billion.

UK Lottoland players keen to claim one of the world’s biggest prize pots ever – equal to £497,206,770 in sterling* – can do so via the online betting company.

Nigel Birrell, CEO at Lottoland, said: “As ‘landmark’ moments go this week has already brought us a few, and has the potential to deliver a great deal more.

“We are pretty well versed in dealing with ‘lifechanging’ moments here at Lottoland, but to be talking about hundreds of millions – and potentially in billions – it doesn’t get much more exciting than that.”

“We haven’t seen hysteria like this surrounding a jackpot since the Powerball reached $1billion in 2016,” Nigel added.

“Make no mistake, this is a once in a lifetime moment that is about to make somebody’s dreams out there come true – believe it, you might just be the one to achieve it.”

The Mega Millions jackpot has been rolling over since the 27th July and will continue to rise until it is won, with the overall total topping $1billion by the end of the week if not claimed beforehand.

About Lottoland:

Lottoland has grown rapidly to become a world leader in online lotto. Innovation, coupled with the freedom to offer players a unique and enhanced lottery experience, has been key to the company’s success. In June 2018, Lottoland paid out €90 million to one lucky winner in Germany – this win has been confirmed by Guinness World Records as the Largest online gambling payout. This is also the biggest payout for Lottoland to date.

The Gibraltar-based business is active in 13 markets, has over 350 employees, and more than 8 million customers worldwide. Lottoland is licensed and regulated by the Government of Gibraltar, the UK Gambling Commission, the Republic of Ireland National Excise License Office, the Agenzia delle Dogane e dei Monopoli in Italy and the Northern Territory’s Racing Commission in Australia.

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Betsoft Gaming signs deal with Supergame

Niji Ng

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Betsoft Gaming signs deal with Supergame
Photo Source: Bitcoinist
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Betsoft Gaming, a Malta-based producer of igaming products, has signed a content partnership with Belgian casino operator Supergame. The comprehensive agreement will provide for the integration of a wide range of Betsoft titles complying with the regulations of Belgian Gaming Commission’s.

Headquartered in Antwerp, Supergame built its reputation in land-based casino over several decades, before entering Belgium’s tightly-regulated online market in 2013. Since then, the operator has distinguished itself from the competition through a commitment to world-class customer support and an emphasis on the casino user experience. As a B+ license holder, certain restrictions apply to the content that Supergame can offer to Belgian players, as Annamaria Anastasi, Marketing Director for Betsoft explains:

“The Belgian regulated market is complex, with various license tiers that govern the way games can be promoted and played. For Supergame, this meant finding a content partner who is agile and experienced enough to make sensitive adjustments to core mechanics, themes, and features to ensure that their games comply with regulations and resonate with the region’s players.”

The agreement also lays the foundation for future Betsoft game integrations, with further content also being adjusted for the Belgian market.

“Working with Betsoft, you feel straight away that they are a very professional company,” says Manou Coutard, Product Manager at Supergame. “Our team have been big fans of Betsoft’s games for some time. Their titles are visually stunning, and their 3D art is amongst the very best in the business. But more than that, we were thrilled to find a partner capable of adjusting their content to meet our unique requirements. We are confident that Betsoft will help elevate our casino to the next level.”

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A lively discussion on cards at inaugural social responsibility exchange

Niji Ng

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A lively discussion on cards at inaugural social responsibility exchange
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Simon Bradbury, Head of Social Responsibility and Compliance at Bacta, has predicted a lively discussion at the Association’s Social Responsibility (SR) Exchange initiative. He bases his prediction on the high level of positive feedback so far. The SR Exchange, scheduled on 21 November, will focus on encouraging best practice and has already garnered support from many professionals operating in the field of Social Responsibility.

The free-to-attend event will break new ground by encouraging operators to bring their front-line staff to play their part in the discussions and workshops, guaranteeing a real world perspective. Simon will be playing a key role in the proceedings, including delivery of the welcome address and facilitating a session about dementia. Simon joined bacta four years ago, having previously retired as an Inspector in the police service. He leads the SR and compliance teams and still works with bacta members in the Midlands, the North West and Lincolnshire and Yorkshire regions. Simon also provides adjudication in gambling disputes.

Anticipating a highly productive event Simon explains: “I am excited by bacta’s first Social Responsibility Exchange. It will feature some interesting guest speakers on safer gambling issues and those from the industry with a social responsibility perspective. There is a focus on customer-facing staff but we also anticipate representation from operators, manufacturers and suppliers. Those attending will also have an opportunity to attend workshops and discussions around a number of subjects including self exclusion, safeguarding and supporting individuals who experience problem gambling. We hope to provide an interesting day where we can share good practice in the workplace and promote social responsibility,” confirms Simon.

Social Responsibility and protecting people from gambling-related harm are at the very heart of bacta and it is anticipated that the involvement of front-line staff in the event will facilitate a valuable two-way exchange of ideas and experience.

Those wishing to participate in this exciting event should contact Linda Malcolm at bacta on +44(0)20 7730 6444 or at Lindam@bacta.org.uk

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