The appearance of digital currency-based casinos throughout the world has revolutionized the gambling environment, due to the numerous benefits associated with virtual currencies. In fact, chances are that you already know that numerous big casinos have decided to add bitcoin as a deposit and withdrawal method, to further appeal to the market.
However, many believe that bitcoin casinos are in a grey legislative area, as many aren’t licensed, nor regulated. The lack of regulation so far is understandable as digital currency casinos are still new to the market, but it seems like things are about to change.
In fact, regulated digital currency gambling will likely open up across Europe. Recent reports indicate that a major eSports platform known by the name of Unikrn has just been given a gambling license in Malta – thanks to this, they’ll be able to open up the platform to real-money wagering via the UniKoin Gold crypto token. In a recent press statement, the chief executive officer of Unikrn stated: “The European expansion means there’s going to be a large and soon-growing marketplace of users, including the real-money transition of already established users, who want to buy, exchange and use our token to bet on our platform.”
So far, the company in question only offered real-money betting in Australia and the United Kingdom, where they held licenses. However, free betting for entertainment purposes was offered in many other regions, for a variety of eSports including League of Legends, Dota 2, CS: Global Offensive and more.
The main benefit associated with this token-based betting is the fact that once a betting session is over, the tokens can easily be exchanged for actual money. It’s important to point out the fact that these tokens will not only be offered for bets, but rather for watching matches online, in person, or by playing in various tournaments. As more and more tokens are given out, and the market continues to bet, they’ll start increasing in value. Therefore, the tokens which are simply a means to enjoy the services of the eSports betting platform, will gain in value, and people throughout Europe will be able to then exchange them for real cash.
This license represents a great step in the direction of better regulated digital currency gambling, and many believe that it will open the door to more possibilities in the future, such as a more open, non-restricted gambling environment for those who wish to partake.