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Tokens and Gambling, What You Need to Know

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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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Belatra breaks out Tony Gambler slot

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Belatra breaks out Tony Gambler slot
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Belatra Games, the specialist online slots developer, has released its latest slots caper, Tony Gambler. This escapade is set within a 5×4 framework and welcomes players along on a cracking casino heist.

Tony Gambler instantly stands out thanks to the Wild Big Safe symbol, which expands to fill entire reels, increasing its multiplier with each offset. Should more than one Wild Big Safe symbol appear, their multipliers combine for a mega payout. The Wild symbol has the potential to complete the entire reel and increase its multiplier value by one with each offset. If more than one Wild symbol appears, the winning total on the line is multiplied by the sum of all the Wild Multipliers.

Another exciting part of the game is the Portal. When a Portal appears on the reels, it means Tony can break into the casino’s safe. As he safely navigates the security beams, the Portal Multiplier will grow in value, potentially hitting 100. Should Tony evade security completely then the multiplier will be added to the Global Multiplier to boost winnings even further.

Eight Free Games will be sprung if players find three scatter symbols on the first, third, and fifth reels. Once inside this part of the game, the Global Multiplier begins with one and increases with successful Portal robberies. Two Scatters in Free Games will award an extra spin, with a maximum of 100. Finding three Scatters in Free Games will reward another three Free Games, also capped at 100. Additional scatters during Free Games will continue the round.

Tony Gambler also includes an enticing Hold-and-Win Bonus. Six or more credit symbols here will activate the bonus where players can sneak away with extra credits and extra bonuses. The bonus reels have credit symbols, donors, collectors, and empty symbols, each contributing to the final payout. This bonus round will run while new credit symbols, donors, or collectors are found, or until all reels are completed. Players pick up one of the Extra Bonuses if the four different credit symbols, Mini, Minor, Major, and Grand, have been completed.

Sergey Chernyavski, Belatra Games’ CCO, said: “Tony Gambler is the coolest cat in town and players will love this fun adventure that is jam-packed with engaging features. It would be daylight robbery not to try this game in an attempt to pull off the heist of the century.”

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SOLAIRE RESORT NORTH MARKS NEW ERA IN GAMING, TOURISM

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Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Saturday hailed Bloomberry Resorts Corporation for its latest luxury development, the Solaire Resort North, which he said is an instant landmark destination in Quezon City.

During the formal opening of the second Solaire-branded leisure and entertainment property in Metro Manila, Mr. Tengco said Solaire Resort North “marks a new era not only for the Philippine gaming industry but also for the tourism industry.”

“This will definitely become a leisure and entertainment destination in this part of Metro Manila,” he said.

Situated on a 1.5-hectare site in Quezon City, Solaire Resort North is the first and only five-star integrated resort and casino to serve northern Metro Manila and adjacent provinces.

Mr. Tengco also noted the huge efforts made by Bloomberry to bring the project to life.

“This jewel was not created overnight; It took years of meticulous planning, hundreds if not thousands of workers toiling day and night, immense resources poured into it, to bring us this development that is a class of its own,” the PAGCOR chief said.

According to Mr. Tengco, by raising the bar incredibly high, Solaire Resort North instantly becomes the benchmark upon which future integrated resorts will be measured against.

“For this we owe our gratitude to the vision and unwavering determination of Mr. Ricky Razon and his entire team,” he said.

“We at PAGCOR, just like Bloomberry Resorts Corporation, are continuously inspired by the hard work and commitment of President Ferdinand Marcos Jr., to pursue projects like Solaire Resort North so that we can provide more jobs and better opportunities for our people, especially those in the tourism and leisure industries,” the PAGCOR chief added.

President Ferdinand Marcos Jr. and First Lady Liza Araneta-Marcos led the Solaire Resort North’s inauguration. Quezon City Mayor Joy Belmonte also graced the event.

For his part, Bloomberry Resorts Corporation Chairman and CEO Enrique Razon Jr. said Solaire Resort North aims to elevate the entertainment experience in Quezon City.

“We hope to serve the burgeoning tourism demand north of Metro Manila and the nearby provinces that are enjoying rapid commercial and residential development. We hope to bolster economic activity in Quezon City by encouraging visitors – both Filipinos and foreigners — to explore and discover the city,” he said.

“We are bringing only the exceptional to Solaire North – from architecture, interiors, accommodation, gaming, cuisine, art, to entertainment,” Mr. Razon added.

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Promoters stake sale of Nazara Technologies Limited to existing investor, Plutus Wealth Management LLP

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Mitter Infotech LLP, a promoter of Nazara Technologies Limited (“the Company”), has sold 48,84,000 equity shares, representing 6.38% of the issued share capital to Plutus Wealth Management LLP through an on-market transaction in the block deal window of the stock exchange (“Block Trade”) on May 27, 2024.

The Block Trade will provide liquidity for the promoters who have dedicated 25 years to the Company’s growth. The promoters will retain control of the Company, with Nitish Mittersain continuing in his current role as CEO & Jt. Managing Director. The promoters remain confident that the Company is strategically and financially well positioned to capitalize on the numerous opportunities ahead.

Plutus Wealth Management LLP, an investor in Nazara since 2020 (pre-IPO), has demonstrated strong confidence in the Company’s prospects by increasing its shareholding via this Block Trade.

“Plutus Wealth Management LLP has been a long term investor in Nazara since the pre-ipo days and has actively participated in subsequent fund raises as well”, said Vikash Mittersain, Promoter, Nazara Technologies Limited. “This transaction represents a resounding vote of confidence by Plutus in Nazara’s long-term growth prospects, its promoters and management”, he added.

Mr. Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP, said, “We are extremely delighted to announce that we have increased our stake in Nazara Technologies Limited, India’s leading diversified gaming and sports media platform. This decision underscores our strong conviction in the phenomenal growth opportunity that the sector offers and our confidence in Nazara’s diversified product portfolio, talented team, and unique competitive position. With its expanded presence in various international markets and global partnerships, Nazara is a notable example of an Indian games company that has been successful in going global. In continuation to our philosophy, we look forward to actively supporting the management team as they execute on their growth strategy and aggressively accelerate progress towards achieving their long-term objectives”.

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