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Deciphering the Mysteries of Bitcoin and DarkWeb Gambling

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cryptocurrency-gambling-racket-2 Deciphering the Mysteries of Bitcoin and DarkWeb Gambling
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Most people don’t pay much mind to crypto gambling, unless they are players themselves. However, crypto gambling is a significant part of the cryptocurrency market. For example, in 2018 Bitcoin casinos were responsible for approximately 50% of all BTC transactions. So let’s look past the surface and dive a little deeper. Here’s what you should know about Bitcoin gambling on the surface web and the deep web.

Simply put, crypto casinos are casinos where players can top up their wallets, hold accounts and pay out their winnings in some form of cryptocurrency. Casino Guru, which has the largest up-to-date database of online casinos, additionally defines two varieties of crypto casinos. The first variety could be considered a “standard” crypto casino, is basically the same as any other online casino,  but allows players to make deposits, play, and/or cash out in cryptocurrencies.

It requires identity verification, a standard feature of the online gambling industry. But there are also so-called “anonymous” casinos, which require no identity confirmation at all, only an e-mail, username, password and a crypto wallet. The Casino Guru database contains 161 casinos that can be classified as crypto casinos, but only 32 anonymous casinos.

Why has crypto gambling gained so much traction? To understand the answer to that question, we need to have a quick look at some of the legislation concerned with online gambling in general. Online gambling is very strictly regulated or outright banned in many countries. For example, there are only three states in the entirety of the USA, where online casinos are allowed operation. The Unlawful Illegal Gambling Enforcement Act (UIGEA) of 2006 forbids online wagering. But it has a loophole. It only specifies wagering in fiat.

And it’s not just America, that has a hole in their legislation in terms of crypto gambling. In truth, there are only 7 countries in the entire world which have a semblance of crypto gambling regulation. Namely, these are: the UK, Italy, Netherlands, Greece, Poland, Belgium and Japan, which is currently considering legislative solutions.

Coming back to the two varieties of crypto casinos mentioned earlier, anonymous casinos actually can’t get a license anywhere at the moment, even if they wanted to. The way they operate just doesn’t match the requirements of any reputable online gambling licensing authority.

For the majority of the world, bitcoin and other crypto are casinos in a legal grey area – not technically legal, but not illegal either. So, players that couldn’t scratch their gambling itch otherwise suddenly found themselves with a solution. A solution that allows them play anonymously (in some cases), from the comfort of their home and offers them an incredibly wide variety of games to choose from.

Though it is true that countries can still bar their citizens’ access to certain sites, like these crypto gambling sites specifically, this has done nothing to stop determined players. In the past, gamblers needed to download the TOR browser (abbr. The Onion Router), which granted them access past the constraints of surface web browsers and into the deep net. There, Hidden Wikis, which are sites aggregating links to various parts of the deep net linked to a crypto casino of their choosing and their game began. The benefit of this being that the combination of TOR and cryptocurrencies made them virtually untraceable by their own governments.

But there is a reason to why there are so many horror stories about the deep web. The deep web harbors numerous fraudsters and scam artists, which we’ll get into in a second. But thankfully, the advent and popularization of VPNs (abbr. Virtual Private Networks) has enabled players to enjoy safer experiences on the surface web. Crypto casinos operating on the surface web often publicize parts of the code they run on to boost trust with their customer base and avoid the negative reputation deep web crypto casinos have garnered.

As you can imagine, there’s a big “BUT” to everything we’ve told you so far. Be honest, you saw it coming from a mile away. So, what’re the issues with crypto gambling?

1) Crypto gambling can be fraught with crime. Especially so on the deep web, but you can run into scams and unfair practices even on the surface web. As the Routine Activities Theory of crime states, crime occurs whenever a suitable victim, a lack of capable guardian and a motivated criminal come together in one place. And when you have people willing to risk their hard-earned crypto on gambling, in an environment with limited or no law enforcement, you’ll find plenty of people more than willing to rid these players of their BTC.
The most popular crypto gambling scams across the web are:

  • Ponzi schemes
  • Deposit scams
  • Fixed games
  • Deposit syndicates

On top of that, money laundering is also a quite common occurrence in the crypto gambling sphere. But it’s not just the players who are at risk. Even the casino itself can become a victim to hackers, which would love nothing more than to empty out the casino’s crypto wallet.

2) Crypto gambling can be even more addicting than traditional gambling. Problem gambling, also known as gambling addiction, is an issue that the entire gambling industry at large has to face. However, though traditional casinos and betting can be addictive, online gambling even more so, crypto gambling poses the biggest risk to unsuspecting gamblers.

Crypto casinos operating on the fringe of the law can titillate potential customers with very aggressive advertising and marketing tactics, making them offers on bonuses and benefits, which no other casino can. That’s due to the fact that unlicensed casinos do not have to pay the standard fees that come with gambling operations, like tax, licensing fees, etc.

Then, once the player is drawn in, they get hit with the promise of fast payouts, quick game results and nearly limitless bet heights. Some illegal BTC casinos take full advantage of their position and completely disregard the recommended responsible gambling practices. After all, the more players you hook, the more money you make.
Then, there’s the simultaneous benefit and downside of anonymity. Since anonymous crypto casinos don’t require any form of identity confirmation, they’re easily accessible even to people who have no business being there. That goes for self-excluded players, as well as underage gamblers, who are especially vulnerable to gambling addiction.

In closing, though the siren call of crypto casinos may be tempting, be aware of the dangers that you might face by choosing to chase those sweet crypto winnings. Though there always is a risk factor in gambling, but playing in unlicensed casinos may make the risk greater than it is worth.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Deciphering the Mysteries of Bitcoin and DarkWeb Gambling

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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Gaming Americas Weekly Roundup – September 21-27

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Welcome to our weekly roundup of American gambling news again! It was again an eventful week in the USA, despite the still-active virus attack.

Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Celer Network’s mobile eSports platform CelerX has become the first mobile esports platform on blockchain to surpass $3 million in player winnings in one month. Since the global release of the BUST-A-MOVE Real Money Tournament in July 2020, CelerX has seen new record-highs in the number of games played each week and users making an average of $20 per day – with top users making $1000+ per day. So far, mid-August has proven to be the biggest gaming day of 2020 and complements CelerX’s $3 million worth of player winnings across the mobile esports platform and game portfolio in one month.

Construction of Fusion Arena, the $50 million esports arena in Philadelphia, has been put on hold because of the COVID-19 pandemic. The 3500-seat facility was expected to open in 2021 and was commissioned by Comcast Spectacor, owner of the Philadelphia Fusion of the Overwatch League.

The Legislature of the city of Buenos Aires has addressed a proposed law on the prevention of gambling addiction and the regulation of online gaming on September 24. The bill was proposed by the Lottery of the City of Buenos Aires (LOTBA).

The Carson Nugget casino in Nevada is going to replace and upgrade its old casino management system with Table Trac’s CasinoTrac management system.

Carousel Group has announced that its online sportsbook, SportsBetting.com, has gone live in Colorado. SportsBetting.com took its first wager from Colorado late last Wednesday, a bet on the Dodgers, which resulted in a winning ticket for the customer. The next full day of betting saw a customer win $7,000 on a six-team MLB parlay. SportsBetting.com has rolled out a number of promotions to kick off the launch.

New Partnerships

Online bookmaker Betway has entered into a partnership with North American esports organisation beastcoast. As per this new one-year deal, the bookmaker will back beastcoast’s Peruvian Dota 2 team. Betway will obtain rights to jersey branding, as well as player access, allowing the bookmaker to “bring its fans closer to the action.”

Simplicity Esports and Gaming Company has partnered with Newzoo, the world’s leading provider of games and esports analytics. The partnership will enable the two companies to exchange esports market data and insights. Also, Simplicity will have access to Newzoo’s data analytics tools.

Awards

For the third consecutive year, Mohegan Gaming & Entertainment’s (MGE) flagship property Mohegan Sun was voted “Best Casino Hotel” in USA Today’s 10Best Readers’ Choice Awards. Nominees for the awards were selected by a panel of experts, including editors from both USA Today and 10Best.com, as well as relevant expert contributors. This year’s list of nominees featured some of the most well-known casinos and resorts in the US.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming Americas Weekly Roundup – September 21-27

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Isle of Man-based iGaming licensing specialist launches consultancy business

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One of the Isle of Man’s leading specialists in iGaming licensing, Tina Rawlinson FCCA, has launched her own advisory business – Clarity Consulting.

The business enables the former Cavendish Trust Company director to focus on helping clients licence, strategize, deliver and be compliant by using her 30 years’ international business experience and specialist iGaming industry knowledge. Tina is an Accountant, a UK Gambling Commission Personal Management Licence holder, and a member of the International Association of Gaming Advisors. Clarity Consulting also allows her to explore a limited number of executive and non-executive director appointments suited to her wealth of corporate and iGaming business experience.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Isle of Man-based iGaming licensing specialist launches consultancy business

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Upgraded tech: Plug in with All-in for easy iGaming localization

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All-in Global is making the iGaming localization process easier than ever by providing a range of effortless ways for companies to choose from in order to plug in with the All-in translation system.

The language service provider dedicated to the gaming industry has been proudly delivering high-quality content for more than a decade now, and it keeps reinventing itself to keep up with a dynamic world of technological innovations. Recently, they presented their updated technology by way of an entertaining, informative, and interactive video where 4 rib-tickling characters explain the up-to-date tech features that are turning the iGaming content localization into a super easy process where All-in bake the entire pie for their clients.

CMS & API integration
To manually upload localized texts is a thing of the past. Clients can now simply get their back-end connected to All-in Global’s translation system and thus turn their content and localization management into a much easier process. They can connect with almost any CMS system, and even get a tailored API integration.
Time to wave goodbye to migraine-triggering formatting and files sharing!

Multilingual WordPress plugin
Additionally, translating a website can be done in a few steps by simply installing and connecting the multilingual WordPress plugin with the All-in server, then selecting the pages that you need translated and, voilà! – a world-class localization squad quickly enters the frame to make the translation process as smooth as possible.

Drag & Drop Folder
There is also the possibility to conveniently transfer files using the Drag & Drop folder in order to reduce the number of exchanged e-mails and increase communication efficiency between clients and Project Managers.

Phone Interpretation
If are you closing online deals these days, the phone interpretation service is something you don’t want to miss out on. Many of today’s business meetings occur online, and All-in Global have the perfect 24/7 solution for those scheduled online/telephone calls where you need an interpreter so that everyone attending can understand everything correctly. They will send you a unique dial-in code, and before you know it, an interpreter familiar with your sector’s terms and topics will be available on the line.

Now that you know their new tech features, we recommend their segmented interactive video where you meet these 4 fabulous characters. They will explain humorously and in detail how to plug-in with All-in.

characters Upgraded tech: Plug in with All-in for easy iGaming localization

 

Each character is meant to represent a different segment of All-in Global’s clientele:

Eric Smartman: recommended for busy iGaming and esports entrepreneurs who swear a lot.
Morgan Freewoman: recommended for iGaming creatives who love to own the narrative.
Charlotta Johanson: recommended for Karaoke lovers who got lost in translation.
Daniel Attenthourough: recommended for iGaming developers who fancy the lifestyle of digital nomads.

If you are looking for a reliable partner to safely localize your content into any language that will be relevant and engaging to your global audiences, contact All-in Global. They are constantly building up their expertise and resources to stay the #1 Language Service Provider for the iGaming sector.

Get in touch at salesteam@all-in.global

If you are interested in finding more about All-in Global, watch the EGC2020 panels moderated by our CEO Tiago Aprigio and our SEO manager Vasco Albuquerque.

 

LATEST INDUSTRY INNOVATION AND HOW THE INDUSTRY HAS ADAPTED TO CURRENT TIMES (INTERACTIVE) (SPONSORED BY ALTENAR) – 15:40 – 17:00 CEST – 6th of October

Confirmed speakers:

  • Stanislav Silin (CEO at Altenar)
  • Dennis Tsalikis (CEO at Fantasy Sports Interactive)
  • Lyubomira Petrova (Chief Marketing Officer at UltraPlay)
  • Norbert Mathies (Managing Director at Spinmatic Entertainment)
  • Glen Bullen (CCO at DAOGroup)

Moderator: Vasco Albuquerque (SEO Manager at All-in Global)

OPERATION: OUTLOOK 2021 (INTERACTIVE) (SPONSORED BY ALTENAR) – 15:55 – 18:00 CEST – 7th of October

Confirmed speakers:

  • Dinos Stranomitis (Chief Operating Officer at Altenar)
  • Robert Dowling (Chief Commercial Officer at Singular)
  • Evan Davis (Managing Director, Sports Betting and Gaming for SeventySix Capital Sports Advisory)
  • Ron Segev (Founding Partner of Segev LLP)

Moderator: Tiago Aprigio (CEO at All-in Global)


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Upgraded tech: Plug in with All-in for easy iGaming localization

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