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Tokens and Gambling, What You Need to Know
![](https://europeangaming.eu/portal/wp-content/uploads/2021/12/Tokens-and-Gambling-What-You-Need-to-Know.jpg)
Early on in the development of the cryptocurrency industry, Bitcoin was the only cryptocurrency many enthusiasts had heard of. In the years since, however, thousands of altcoins have been created, many of which focus on improving upon what Bitcoin does (or does not do). Nowadays, there are even custom tokens designed only for gambling. The result has been revolutionary changes to the way people interact with technology, including online gambling and casinos. With so many different cryptocurrencies out there, here’s what you need to know about tokens and gaming to understand where this trend is going.
The Need to Evolve Payment Methods
Crypto casinos accept a variety of currencies and payment methods. However, the public’s increasing adoption of cryptocurrency has made this form of payment the main one for online gambling sites. Players can use major crypto coins like Bitcoin or Ethereum at just about any casino buying crypto with fiat through a digital wallet and depositing into their preferred game. As the needs and desires of players change, so do the specificity of features casinos have to offer. A player could prefer to use coins with a less busy blockchain to reduce the transaction time. For instance, Litecoin (LTC) has a much faster transaction speed since the coin takes two and a half minutes to produce a blockchain block while Bitcoin’s blocks are produced every nine minutes.
Why Casinos Incorporate Tokens
Altcoins or tokens are basically cryptocurrencies other than the pioneer Bitcoin. Some casinos still support only Bitcoin. But the most future-forward sites also support altcoins like DOGE and the swapping of tokens through the integration of wallets and swapping apps like Metamask. The considerable growth of decentralized finance and, accordingly of DeFi tokens, during the past year has made some kind of incorporation of tokens mandatory for online casinos to stay competitive. But, why tokens? The gambling audience is diverse and as such, they have different needs when it comes to choosing how to invest and play with digital assets. This is where the development of such a variety of tokens comes in. Every token is designed to cover certain necessities of the market, for example, gaming tokens. These coins are used as currencies in video games to buy features like characters, weapons, and they even can allow the players to own the games partially. Tokens allow deeper involvement from the community that purchases them. Some coins are distributed on a play-to-earn basis, rewarding players for their performance on the platform. The possibilities are endless since each token can be designed for an immense amount of purposes, hence the need to make them available in gambling, the main use for cryptocurrencies worldwide.
Most Used Altcoins in Gambling
Ether (ETH) Ether is until today one of the most popular tokens in the casino community. Its popularity lies on the fact that it is significantly more stable than any of the new tokens. However, Ether transactions are becoming more expensive since the network is getting more and more busy thus increasing the gas money per transaction.
Litecoin (LTC) This coin was created based on the protocol of Bitcoin but with the intention of making a more “lite” version, with better scalability, more capacity for micro transactions and much quicker transactions.
XRP Developed by Ripple Labs, this altcoin offers a lot of benefits for gamblers like fast confirmation times and cheap transactions. All XRP coins already exist which eliminates the need for mining. The down part for many players is that XRP is not a decentralized token since it depends directly on the company Ripple Labs.
To Sum Up
While Bitcoin is still king when it comes to converting real money into digital cash, there are plenty of alternative coins that are slowly making their way into casinos as an alternative. Altcoins are growing more prominent in every sector of society; whether you play games on your phone or gamble for sport with friends, there’s an altcoin that can help you. The gambling scene is no different—and as a result, we’re seeing new tokens popping up all over the place to improve the experience offered by mainstream crypto like Bitcoin.
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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2
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From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.
BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.
From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.
How to take part in the MEGA BLAST Competition:
- Register an account with GG.BET or log in to an existing account.
- Go to the tournament page and press “Participate”.
- Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
- Rack up points, keep an eye on the leaderboard, and wait for your winnings to roll in.
Bet on your favorites and get ready for some unforgettable fun! Head over to GG.BET right now so you don’t miss your chance to enjoy a festival of Counter-Strike action in Copenhagen.
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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/mcyjksadljoisajdasndkl.jpg)
Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.
As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.
The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.
Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”
Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”
Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.
Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.
The Opening Bell ceremony can be viewed live.
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/curacaduioapdj.jpg)
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
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