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New cryptocurrency gaming site launched

Wed, Jun 26, 2:00pm by Staff Writer

Playbetr, a cryptocurrency gaming and gambling website just released a massive update that comes with 400 casino games.

Inside Bitcoins is reporting that users will also receive ‘casino deposit bonuses’ for their cryptocurrency wallets, alongside 10 free spins and reload bonuses as well.

The project was built by some top “casino and sportsbook industry veterans” who worked with crypto enthusiasts.

Thanks to this effort, the platform is 100 per cent crypto powered and runs using the PBR Coin.

This is a stable coin as well, so it doesn’t suffer from volatility.

Users can play with ethereum, bitcoin, litecoin, monero, bitcoin cash and ripple, among others on the platform.

Playbetr also brings with it a rewards program to keep players engaged.

This consists of but isn’t limited to “loss-back for net losses, bet-back for every bet made and status points that will increase both bet-back and loss-back percentages based on the user’s play frequency.”

Finally, for those really looking to get involved, there is an affiliate program that offers some of the highest commission percentages out there.

The platform also puts in effort to support its most dedicated affiliates by helping them build banners for commissions.

Cryptocurrency wagering explored in Malta

The Malta Gaming Authority (MGA) is continuing to embrace innovation by giving gambling operations the chance to explore new payment and security solutions.

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.

Gambling with bitcoin is here to stay

Gambling with cryptocurrencies is already popular in Australia, with punters using bitcoin to wager on the most recent Melbourne Cup race.

Website 1xBit uses bitcoin as its primary currency and although gambling with bitcoins is prohibited in Australia, its sports are attracting attention on the international cryptocurrency betting market.

Bitcoin betting sites with domain hosts in Estonia, Curacao, Cyprus and Montenegro are offering markets on AFL, NRL, Super Netball, NBA and greyhound races.

Unregulated offshore bookies make it difficult for Australian authorities to monitor corruption or suspicious activity according to the ABC.

“As the use of bitcoins and other cryptocurrencies in sports betting become more prevalent, then the risk of match-fixing is heightened,” sports lawyer and academic Catherine Ordway said.

Former chief steward of Racing NSW Ray Murrihy said: “with bitcoin, there’s no access to the identities of the parties involved.”

Mr Murrihy is now a board member of Responsible Wagering Australia and went on to say that “it’s very unlikely that the casual or weekend punter is going to be involved in this [bitcoin gambling]”.

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