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FUN token adds BETR technology and leadership

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FUN token adds BETR technology and leadership
FUN token adds BETR technology and leadershipReading Time: 2 minutes

 

FUN token is pleased to announce that it has reached agreement with the BETR Foundation to merge both party’s interests and work together to bring decentralised and peer-to-peer gaming to its huge and growing user base.

BETR raised funds in 2017 to build a peer-to-peer betting solution and proceeded to execute, with a fully-fledged betting client launching in time for the FIFA World Cup in 2018.  The technology developed included an in-game betting system with rich market coverage and peer-to-peer betting facilitated through a complex smart contract ecosystem based on the BETR ERC20 Ethereum token.  More recently it extended the system to offer casino gaming.

FUN is now able to take advantage of the technology and expertise developed for BETR as part of an agreement to merge the tokens.

BETR holders will be able to switch their BETR for FUN through an automated swap system which will cause the BETR tokens to be burned in exchange for FUN.  Through an automated swap system BETR tokens will be swapped for Fun at a rate of 4 BETR = 1 FUN – system details to be released within the next week on https://betr.org.  BETR tokens acquired through the swap system will be burnt and BETR will be delisted from exchanges.

As part of the transaction FUN will acquire all technology developed for BETR and key personnel will join the new FUN team, building the future of decentralised gaming.  BETR CEO Adriaan Brink will assume the role of CEO of the FUN token and will grow the team and spearhead the new drive to grow opportunities for FUN.

Brink has a wealth of experience in the online gaming industry, starting in 1995 with lotteries and progressing through all gaming verticals over the past 25 years.  He also co-founded Earthport (now Visa Direct) in 1999 and his payments experience combined with gaming make him the ideal person to take FUN to the next level.

Brink said “I am truly excited to have this opportunity to take what we have learnt and combine BETR with the fantastic FUN community and the huge audience of Freebitco.in in order to deliver on what all of us always dreamt of – a decentralised gaming infrastructure more suited to the modern era”.

FUN will soon announce plans on how it intends to move forwards with a suite of products including side-chain and off-chain gaming engines to counter the issues of Ethereum gas prices, a new casino site with a rich suite of games, and other gaming opportunities including peer-to-peer betting.

Freebitco.in has over 40M users and significant daily traffic and will play a pivotal role in expanding the FUN token user base.  The company intends to set aside a percentage of profits from activities to be burnt on a regular basis which will reduce the supply figures downwards.

3.75Bn of the cold storage FUN tokens were purchased recently by Freebitco.in.  This was the culmination of an ongoing exercise to accumulate tokens for use within their loyalty program.  As a consequence of this, these tokens are no longer in cold storage and the supply figures on Coinmarketcap will update shortly as follows:

Total supply                          : 10,999,873,621
Circulating supply                : 10,298,879,189

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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Coolbet switches to an automated player onboarding flow with iDenfy’s ID verification software

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The implementation will help Coolbet reduce multi-accounting, bonus abuse, and other illicit practices that challenge the iGaming platform’s security

iDenfy, a leading identity verification and fraud prevention company, has announced a new partnership with Coolbet, the award-winning B2C company, known for its innovative online gaming platform. This collaboration enables Coolbet to integrate iDenfy’s automated identity and address verification services, enhance its compliance operations, and reduce fraud risks in the clients’ onboarding process across its global markets.

Coolbet, established in 2016 and headquartered in Tallinn, Estonia, offers a personalized entertainment experience across various areas, such as online casino games, sports betting, and online poker. The company operates under Estonian, Swedish, and Maltese gaming licenses and serves over 1.3 million users across ten markets, including Canada, Sweden, and Chile. With a strong focus on transparency and fair play, Coolbet has built its reputation on delivering exceptional customer care and utilizing in-house technology. However, managing the manual aspects of identity and address verification was proving increasingly complex and time-consuming experience as the platform grew.

According to recent industry data, identity fraud accounted for over 50% of all online fraud cases globally in 2024, highlighting the need for robust and automated verification solutions. In response to this growing threat, Coolbet’s team decided to integrate iDenfy’s identity and proof-of-address verification solution, which are both AI-powered and designed to convert more users. iDenfy’s CEO, Domantas Ciulde, explains that such a switch will immediately benefit Coolbet since its team will have more time and resources to focus on other business development tasks. 

As a result, Coolbet can now automate the main KYC process while maintaining strict compliance and delivering a smooth player experience. Teams can easily set rules for acceptable documents such as utility bills, bank or credit card statements, tax documents, and other compliance-related operations, guaranteeing the platform ensures that the user’s address proof is valid and not older than three months. It is worth mentioning that iDenfy’s Know Your Customer (KYC) software also uses advanced biometric and 3D liveness detection technology, including AI-powered document scanning, which allows the ID verification solution to recognize over 3,000 document types from 200+ countries. This ensures fast, secure, and global identity verification in one seamless process.

A key differentiator in iDenfy’s offering is its results-based pricing model, where clients are only charged for successful verifications. This approach helps companies to significantly reduce verification costs without sacrificing reliability or compliance rules. Additionally, iDenfy’s intuitive KYC management dashboard interface allows Coolbet’s team to navigate and manage the verification process with ease and speed which are essential components in fast-paced gaming environments.

It’s worth mentioning that the need for robust identity verification has never been greater. According to a recent study by Juniper Research, global losses due to online fraud are projected to exceed $107 billion by 2029, with identity fraud as one of the primary drivers. In regulated industries like iGaming, where fraud and regulatory scrutiny are growing, having a reliable KYC partner is essential.

“With iDenfy, we found a partner who not only delivers a high-quality product but also supports it with fast, transparent communication from day one. Their user-friendly dashboard, high acceptance rates in our target markets, and efficient support made the integration process seamless. We were able to automate identity and address verification, improving our operational efficiency,” said Endre Nesset, the President of Coolbet.

“We’re thrilled to work with Coolbet, a company that puts transparency and player trust at the heart of its platform. Our mission is to empower businesses to grow securely, and this partnership reflects that. By combining automation with accuracy, we’re helping Coolbet to create a more efficient, fraud-resistant onboarding experience for its global audience,” said Domantas Ciulde, the CEO of iDenfy. 

The post Coolbet switches to an automated player onboarding flow with iDenfy’s ID verification software appeared first on European Gaming Industry News.

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Amusnet Strengthens European Presence with Dutch Launch on Lucky 7 Casino

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With over 100 games now live on Lucky Seven Casino’s platform, Amusnet introduces a selection of its diverse portfolio of online casino games to a wider audience. The partnership marks a strategic move for the provider into the Dutch market, strengthening its presence in the region and providing local players with a premium gaming experience while driving mutual growth for both companies.

“We are excited to partner with Lucky 7 Casino as they enter the Dutch market. As a new operator, they bring fresh energy to the industry, and we are confident that our games will contribute to their success. This launch marks another step in our commitment to delivering top-tier gaming experiences in the Netherlands,” said Dimitri De Temmerman, Managing Director of BNL at Amusnet.

The partnership with Amusnet is a major step forward for Lucky 7 Casino. This partnership offers several benefits, including access to a wide range of innovative games that enrich our platform. Amusnet’s cutting-edge technology will enhance our current offering, allowing us to offer players an even more engaging and immersive experience,” commented Frank Loffeld, COO/CTO of Lucky 7 Casino.

On Lucky 7 Casino’s platform, local players can find some of Amusnet’s top-notch games such as 100 Power Hot, 20 Golden Coins, Shining Crown, 40 Bulky Fruits, Extra Crown, Cavemen and Dinosaurs, Cocktail Rush, Candy Palace, Vegas Roulette 500x, Dynamic Roulette 120x and many more.

The post Amusnet Strengthens European Presence with Dutch Launch on Lucky 7 Casino appeared first on European Gaming Industry News.

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Spinomenal unveils Blazing Rhino Hold & Hit

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Leading iGaming content provider Spinomenal has unveiled its hot new slot, Blazing Rhino Hold & Hit.

The 3×5 game is presented on golden savannah grasslands, populated with rock formations and acacia trees. A calm, sun-drenched soundscape sets the scene for wild adventure alongside beautiful beasts.

Landing three baobab tree Scatter Free Spins symbols will launch the Free Spins game. In the base game, Scatter Free Spins symbols can only appear on reels 1, 3, and 5. Three Scatter symbols give players three Free Spins and multiply the total bet by three.

Once free spins are underway, any symbol can transform into a colossus symbol (3×3), spanning the middle of the slot across reels 2 to 4. Scatter symbols (bonus or free spins) will only hit as a colossus symbol and activate the feature. A Free Spins colossus symbol grants three extra free spins and pays triple the total bet.

The Hold & Hit feature builds extra tension on the reels. Six Scatter bonus symbols will initiate the Bonus game, where the symbols that carried the players to the feature remain frozen in place. Players start with three spins and once the empty spots are filled or when the spins expire, the game  concludes.

Every spin gives players a chance to populate the vacant spots and earn prizes spanning  x1 – x10 multipliers of the total bet. There is also the Mini Jackpot (x25 total bet), Major Jackpot (x50 total bet), and the Mega Jackpot (x250 total bet). The counter ticks up for each win and any player who completes all 15 spots will walk off into the sunset with the Grand Jackpot – x5000 the total bet.

Spinomenal CO-CEO, Omer Henya commented: “Blazing Rhino: Hold & Hit is a wild ride through the savannah, bursting with features, colossal symbols, and bountiful jackpots. We expect this to be a roaring success with players.”

The post Spinomenal unveils Blazing Rhino Hold & Hit appeared first on European Gaming Industry News.

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