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Roundup: License, Fantasy Sports & Bitcoin Halving

Roundup: License, Fantasy Sports & Bitcoin Halving

Chris in Bitcoin & Cryptocurrency published on 13, February 2016

Online Gaming Licenses: Which One Works Best?

Even online gaming is bound by restrictions through the gaming licenses issued by various regulators. Not only do they add credibility to the online casinos and gambling sites, they also provide players with better security and assurance of a secure, regulated platform. Bitcoin gambling does not strictly require licenses, but the trend of acquiring one among Bitcoin casinos continue to develop. Bitcoin casino operators have a selection of regulators and gaming licenses to choose from, including licenses issued in Curacao, Montenegro, and St. Kitts and Nevis.

“The short processing time is what attracts many online casinos like FortuneJack to acquire a license there. A single license covers a wide variety of gambling activities. The fees are also on the lower end, with a one-time fee of $80,000 and an annual fee of $40,000. Combined with low taxes, this makes it an ideal place to set up shop for many.”

Will Bitcoin Be Daily Fantasy Sports’ Savior?

DraftKings and FanDuel continue to suffer from the legal restrictions being imposed in certain US states in regard to daily fantasy sports. Vantiv Entertainment Solutions, the payment processor for these two platforms, announced that it would no longer process payments for daily fantasy sports.

“Vantiv, a payment processor since 2009, is no stranger to gambling. The main problem is that the daily fantasy sports market is currently in the ‘Wild West’ era, with no solid legislation to pin things down.”

Bitcoin Reward Halving Can Increase Bankroll Value

By midyear, the Bitcoin reward for every mined block will be reduced by half, bringing the miner reward to 12.5 BTC. At present, miners receive 25 BTC per block, a value that came about after the first Bitcoin halving that happened in 2012. With the next Bitcoin halving set to take place a few months from today, there are speculations that it will not gravely affect the Bitcoin price as much as it did last time. In fact, some view this as a potential factor to increase the value of the cryptocurrency.

“The situation is a lot different now. With Bitcoin prices fluctuating around the $370 range, Bitcoin mining earns around nearly $10,000 for each block solved. With June or July of this year being slated for the time when the halving happens again, there are concerns about how this will affect the already volatile price of the cryptocurrency. There are two possibilities.”

Wargaming & BitPay Team Up, Helps Spread Bitcoin

Wargaming is known for its free-to-play MMO strategy games online, such as World of Warships, World of Tanks, and World of Warplanes. It is one of the recent businesses that added Bitcoin to its supported payments, and its partnership with BitPay, a reputable Bitcoin payment processor, made this possible. The team up of Wargaming and BitPay indicates the increasing rate of Bitcoin adoption across various industries.

“Bitcoin’s role in the recent partnership is to make in-game purchasing much faster and more convenient to the players. No longer will they need to provide financial details to convert their money to virtual gold when upgrading weapons or buying add-ons. With Bitcoin, they can expect secure and quick processes with the help of BitPay.”

Bitcoin Use Helps eSports Reach Critical Mass

With eSports rising to the top of the online gaming markets, many analysts and experts perceive Bitcoin to be one of the driving forces behind it.  How does Bitcoin push eSports to greater heights while also promoting Bitcoin eSports?

“Both of these options are benefiting from the use of Bitcoin. As a digital currency, bitcoins are ideal for use in the international world of Bitcoin eSports betting. People from around the globe can make bets with minimal transaction fees and speedy transaction speeds—an important distinction in the fast-paced eSports world.”

 

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