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The Future of Binary Options

George Miller

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The Future of Binary Options
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What is the future of binary options that have recently drawn attention?

The fun is beginning. Some countries decided to fully erase Binary Options from their legal framework. Great Britain, Australia, Japan, USA, and several other countries secure effective regulation of BO.

The BO’s model itself is undergoing changes. What is the essence of binary options? BO is a mere bet on the market. You can place it in accordance with two schemes: exchange-traded and betting. At that, the exchange-traded scheme is used in the USA only, and the betting one is applied in jurisdictions of all other leading countries. For example, Binary Options are regulated by Gambling Commission in Great Britain and regarded as gambling bets on the market. Although FCA (Financial Conduct Authority), a financial regulator supervising BO, considered the idea of treatment BinaryOption as a financial derivative, they gave it up.
The remaining BO companies will have to radically change their business model. It goes without saying that the overwhelming majority of these companies will either disappear or give up BO as many Forex trading companies do now.
On the contrary, other Binary companies try to develop these models allowing for the mistakes made by their predecessors. They don’t apply cold calling techniques and customize their risk management strategies so that they can act as an intermediary between customers on a platform.
However, it’s not enough. BO will have absolutely new exchange-traded models, in which a BO company plays the role of outside observer and charges a commission for accepting bets on the market placed by traders themselves against other ones, in the future.

Binary Options will be growing up as Binary Options audience is growing up. You need to leave off a habit of earning large percentages over 60 seconds right now, since the BO scheme is unviable and short-lived, and it will be both banned officially in some jurisdictions and modified by brokers themselves. So that’s what major Forex brokers offering BO trading are doing now.

The BO industry has been growing up and will be developing within the US, Japanese and hybrid models. Undoubtedly, this is good news for experienced traders and bad news for newbie traders.
The future of the BO industry can be also judged by the market in Great Britain, where a hybrid of the US and the Japanese models is used. The state guarantees any payouts rigorously. Only 3 major Binary Options market operators, which people trade with for many years, are represented in Great Britain. These operators don’t provide signals, bonuses, and advice from managers.
The BO operators act as an intermediary, so these BO models leave traders alone with the market and provide them no help. Nobody will “make money” for you. You will have only your brains and your experience, and your broker will play the role of a silent provider of a trading platform for placing bets on the market.
As these models spread around the world, Binary Options will find their new life and concurrently clean itself from the past bad reputation. However, it depends not only on the BO market operators, but its participants too. The faster newbies grow up, come to their senses, and give up their illusions about fast profits and freebies, the more grown-up, adequate and serious the BO industry itself will become.

Latest News

Malta’s FIAU Publishes “Intelligence Factsheet” of STRs

Niji Narayan

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The Financial Intelligence Analysis Unit (FIAU) of Malta has published its “intelligence factsheet” which provides an overview of “suspicious transaction reports” (STRs) submitted by Malta Gaming Authority (MGA) licensees in 2019.

FIAU reported a total of 1445 STRs from 210 MGA licenced operators during 2019, continuing its 100% rise in suspicious transactions registered by its “CASPAR monitoring system” year-on-year trend.

A breakdown of results saw 32% (457 cases) of the total STRs submitted by three companies and a further 35% (498 cases) registered by another five licenced operators, with 72 organisations submitting the remaining 33% (approximately 486) of the STRs.

FIAU reported 741 STR cases related to online gambling for 2020, under which the enforcement unit continues to broaden its CASPAR system’s monitoring capability.

In its factsheet statement the FIAU detailed: “In most of the cases, the FIAU considers it more appropriate to send a spontaneous intelligence report to foreign FIUs rather than to trigger an investigation in Malta on the basis of STRs received from the remote gaming entities.

“Although the FIAU does not open its own in-depth analysis in these cases, the majority result in further dissemination to its foreign counterparts. As a result, information received through these submissions accounted for 35 percent of the total spontaneous intelligence reports shared with foreign FIUs in 2019.”

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Industry News

Scientific Games Integrates BlueRibbon’s Jackpot Solution into its OpenGaming Platform

Niji Narayan

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Scientific Games Integrates BlueRibbon’s Jackpot Solution into its OpenGaming Platform
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Scientific Games Corporation has integrated BlueRibbon’s customisable jackpot solution into its OpenGaming platform.

This new partnership strengthens Scientific Games’ OpenGaming, providing partners across regulated markets with the ability to create bespoke jackpots within games via BlueRibbon’s software.

Kaizen Gaming brand Stoiximan has become the first OpenGaming customer of Scientific Games to utilise the marketing tool following this new agreement, with the software to be rolled out with all the Company’s customers in the coming months.

“The unprecedented global reach that Scientific Games possesses with its OGS platform ensures that this new partnership is hugely significant to us. Integrating our software will open the door to many new opportunities. We’re excited to bring our highly effective solution to even more operators across the globe,” Amir Askarov, Co-Founder & CEO of BlueRibbon, said.

“Providing an innovative and wide product range has been our priority, and we wanted to include the customizable jackpot software that BlueRibbon provides into our offering. Following a seamless integration through Scientific Games’ OpenGaming, we’ve been in a position to produce a campaign that matches our needs and brand identity. The initial results demonstrate that we are heading to the right direction, with players appreciating the way in which we’ve delivered an improved user experience,” Dimokratis Papadimos, RNG Casino Manager at Kaizen Gaming, said.

“We’re excited to bring BlueRibbon’s innovative marketing and jackpot products to the OGS. Players are constantly looking for something new from their gaming sessions, and by bringing together our gamification technology with BlueRibbon’s software, it’s the perfect match to deliver an exciting new experience. Our philosophy is all about bringing cutting-edge innovation to our leading global network, and this new partnership delivers on that promise,” Dylan Slaney, SVP Gaming, Digital at Scientific Games, said.

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eSports

Challengermode hires key leaders and promotes internal talent to level up leadership team

George Miller

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Challengermode hires key leaders and promotes internal talent to level up leadership team
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  • Challengermode makes dual appointments with Philip Hübner promoted to CBDO and Dan-Alp Lindberg joining as CFO 

Leading esports platform Challengermode today announced the appointment of Dan-Alp Lindberg as Chief Financial Officer and the promotion of Philip Hübner to Chief Business Development Officer. The hires follow a substantial period of growth and a $12 million investment round led by eWTP Innovation Fund, the global investment arm of the Alibaba Group, Telia Ventures and Swedish soccer legend Zlatan Ibrahimovic.

Joining Challengermode in 2017 as Head of Business Development, Hübner has previously been responsible for onboarding the very first partners at the company, as well as devising the company’s partnerships and business strategy. With a wealth of esports specific experience – his first involvement in the space as a competitive DOTA player – Philip has worked in a variety of positions, from marketing and communications to product management to business development and strategy – highlighting the value of a broad knowledge base to grow the business side of the industry. In his new role Hübner will draw on this experience to translate increased accessibility in esports into greater value for stakeholders.

Lindberg joins as Chief Financial Officer, where he will be responsible for the company’s revenue growth and profitability while managing risks and compliance in order to facilitate Challengermode’s continued high-growth journey. He has over 15 years of management experience at both large companies and scale-ups , including roles at IKEA as well as creative agency and entertainment company B-Reel. Linberg’s deep knowledge of finance, operations, risk and analytics makes him a valuable asset to Challengermode given its position in the constantly evolving world of esports.

“I’ve always been keen to help grow esports as an industry, even back when I was a competitor – so I am excited to be bringing that accumulated experience to my new role as CBDO” comments Philip Hübner Chief Business Development Officer at Challengermode. “For all its recent success, the esports industry is still relatively young, and is still in a process of change. While sponsorships and big event tournaments will continue to be important, our mission is to create new partnerships and new opportunities that will drive growth in the grassroots level of esports in the years to come.”

Dan-Alp Lindberg, Chief Financial Officer at Challengermode, said: “I am super excited to step into the role of CFO at Challengermode and look forward to continuing to roll out our esports platform internationally. I truly believe the team and this platform has incredible potential to accelerate the growth of esports, harness the space’s commercial potential, facilitate new business models and establish new revenue streams along the way.”

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