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Law Commission of India backs gambling in Bitcoin

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The Law Commission of India has recently submitted its 276th report to the Union Minister of Law and Justice, Ravi Shankar Prasad. One of its recommendations is to legalise gambling, especially through Bitcoin. The recommendation has created bit of a storm in the country, with political parties and activists expressing their strong protests. It must be also noted that the Reserve Bank of India (RBI) has recently banned Indian banks from dealing with Bitcoin and cryptocurrency entities.

The Law Commission’s report states: “Gambling transactions should be made cashless, making use of electronic means of payment such as credit cards, debit cards, net-banking, Virtual Currencies (VC – also known as Cryptocurrency), etc. Stringent law(s) should be put in place to control Foreign Direct Investment and at the same time, to prevent money laundering, while also implementing necessary tax reforms.”

The proposal has been made based on the fact that the straight-jacket prohibition on gambling has resulted in a rampant increase in illegal gambling, resulting in a boom in black-money generation and circulation. Regulated gambling could ensure the detection of fraud and money laundering and would create transparency. “Betting and gambling transactions should be linked with operator’s as well as player’s/participant’s Aadhaar card/PAN card, so as to ensure transparency and State supervision. The cap on the maximum amount that can be staked in a wager should be fixed by law and be strictly implemented,” observed the Commission.

Source: inc42.com

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George Miller (Gyorgy Molnar) 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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HAPPYBET OFFICIAL REGIONAL PARTNER OF FC INTERNAZIONALE MILANO

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A new partnership that will see the German and Austrian operator become the Nerazzurri’s Official Regional Partner

FC Internazionale Milano, the 2020-2021 Serie A champions, and HAPPYBET, a brand of the Snaitech Group, are pleased to announce a new partnership that will see the German and Austrian operator become the Nerazzurri’s Official Regional Partner.

The HAPPYBET brand stands for reliability and expertise in German and Austrian markets. In 2017, the company was acquired by the Playtech group, a leading gaming company operating in 24 different countries that has also controlled Snaitech since 2018.

A predilection for innovation is the key value that links the two brands and seals the partnership, as proven by the visibility that the HAPPYBET brand will receive in selected European countries on the Virtual Cam Carpets and on LED boards around the pitch during Inter’s home games at the Stadio San Siro thanks to the innovative Digital Overlay®️ geolocation technology adopted by the club.

The new partnership also includes further exclusive initiatives that will be launched throughout the season that will promote the HAPPYBET brand to the large fan base of one of the most iconic clubs at an international level.

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Microgaming Enters the Ring with “WWE Legends: Link&Win”

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Microgaming, All41 Studios and WWE announced a partnership that will showcase WWE icons in WWE Legends: Link&Win.

Bringing together WWE’s immense global brand with classic slot features, this action-packed game combines WWE Hall of Famers “Stone Cold” Steve Austin, “Macho Man” Randy Savage, Eddie Guererro and Booker T with the popular Link&Win and HyperSpins mechanics.

In the Link&Win arena, players will have the opportunity to bring home the Champion Jackpot, claiming a colossal 5000x their bet when all 15 symbol positions are filled.

Three mighty scatter symbols landing anywhere on the reels in the base game will award five free spins, where the three middle reels merge into one larger-than-life symbol for epic win potential. Furthermore, three more scatters landing during the feature will extend the action with another three free spins.

HyperSpins will also allow players to re-spin any reel individually at a cost for another chance at completing a winning combination, as well as the potential to trigger the free spins or Link&Win features sooner.

WWE Legends: Link&Win is available now exclusively to operators on the Microgaming platform.

“In WWE Legend: Link&Win, two epic entertainment worlds collide in dramatic fashion, bringing all the excitement you’d expect from the legends of WWE. The Link&Win once again proves its power, with a maximum prize of 5000x up for grabs, while HyperSpins delivers another interactive element to excite and reward players. All41 Studios have succeeded in creating a brilliant, branded slot that will appeal to WWE and slot fans alike,” Andrew Booth, Director of Games at Microgaming, said.

“What an honour for the All41 Studios team to work with one of the world’s biggest and boldest names in entertainment, as well as gaming mechanics. In WWE Legend: Link&Win, we set out to make everything larger-than-life: superhero-style characters, huge win celebrations, atmospheric arena-style sounds, and of course that Champion Jackpot, ensuring the player can enjoy being immersed in a massive event,” Bradley Johnson, Head of Game Design at All41 Studios, said.

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Betsson AB’s New Board of Directors Has Decided to Withdraw Decision to Replace the CEO, Pontus Lindwall

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The new Board of Directors of Betsson AB has decided to withdraw the decision to replace Betsson AB CEO Pontus Lindwall.

Based on Betsson’s near time to mid future priorities such as the mitigation of the unexpected Dutch decision and the US entry, the newly elected Board of Directors has decided to revoke the decision communicated on September 19 to replace Pontus Lindwall as CEO of Betsson AB.

“We have had several discussions with Betsson’s main stakeholders, the Betsson management team, Betsson employees, as well as many of the largest shareholders. Based on those discussions the current Board does not believe that it would be good to change leadership now. The company need to focus on all important work that lays ahead, such as for example the unexpected Dutch situation,” says Johan Lundberg, Chairman of the Board of Betsson AB.

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