New cryptocurrency casino to open
BetProtocol and hodlbet have come together to launch a new casino, according to Times of Casino.
BetProtocol is one of the most reputable and dependable names in providing advanced betting solutions to the casino industry.
The company has carved a niche for itself, thanks to its use of advanced technology, safe and secure protocols and a client-oriented approach.
A recent announcement it made has put it in partnership with hodlbet.
The fully customisable solution of BetProtocol, called “white label” will be used by hodlbet to launch a new casino.
This casino will use stakes in terms of real money.
To bet on at this casino, gamblers have to use the native BetProtocol token, the $BEPRO.
This is a smart move, as use of this token will ultimately raise its demand in the market.
A total of seven games will be available on the casino when it launches.
These games include Linear Dice, Roulette, Wheel Classic and Wheel, among others.
In future, the casino is expected to add Baccarat and Slots to this list, to further widen its appeal among prospective gamers.
The casino will extend the facility of payment and withdrawal through cryptocurrency.
Commenting on the project coming together, the operation team of hodlbet said they are delighted to use the technology of BetProtocol.
Solutions offered by BetProtocol are best in class and no other organisation in the industry can give access to such advanced and future-oriented technology.
Reciprocating similar sentiments, the chief executive officer of BetProtocol, Rui Teixeira said that hodlbet is a perfect domain for betting and its operational excellence is something that clients swear by.
The new association is expected to bring benefits to both organisations.
It is an important convergence for the casino industry and the way the new casino will perform is going to give a fair indication of the direction of similar ventures in the future.
Cryptocurrency wagering explored in Malta
The Malta Gaming Authority (MGA) was looking to embrace innovation by giving gambling operations the chance to explore new payment and security solutions, according to an article published by the ABC in 2019.
The Sandbox Framework is designed to serve that exact purpose and use cryptocurrencies as payment in gambling activities.
Control of cryptocurrencies is often elusive, but the MGA believes it has a payment solution that can expedite and secure financial transactions by boosting transparency.
This will give peace of mind to both operators and consumers when using the payment method.
The second phase of the framework launched on January 1, 2019 and is use Distributed Ledger Technology, a block chain based technology.
This technology processes all transactions and if it proves to be successful and reliable, the MGA will move towards the next step of the project and allow for further testing.
Such tests will include testing blockchain assets in a controlled environment to allow the MGA to look into potential complications that could pose risk to customers or businesses.
An investigation will be undertaken into dangers not only to operators and customers, but the gambling industry and the economy of the country, which relies heavily on gambling revenue.
The MGA portal allows businesses interested in becoming part of the test initiative to register with the update Licensee Relationship Management System.
Each operator will have significant responsibility in providing accurate information about financial transactions undertaken in cryptocurrencies and logging them on the system.
The current second phase is pivotal in assessing the effectiveness of the transactions.