Category: Gambling

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Betting Crypto News Crypto Wallets Gambling Gaming Sports

Exodus Wallet Enables Sports Betting with USDC Using Polygon Blockchain

Blockchain, cryptos and smart contracts are changing the world as we know it, and now have moved into the world of esports, particularly online betting. A recent example is cryptocurrency wallet Exodus integrating with SportX, an online sports and cryptos betting platform, to allow its users to wager on esports games on the Polygon network.

Exodus Gets Into Esports

Exodus is a wallet that helps individuals control their wealth independent of old banking models and free from institutional control. Integration with SportX gives its users the ability to wager on esports games via smart contracts executed on the Polygon network.

The newly announced partnership gives Exodus’s one million-plus users access to SportX’s decentralised betting exchange, where users can wager on a wide array of sports and esports games using cryptos. The minimum bet allowed is US$5, denominated in USD Coin (USDC), which can be directly sent to the Exodus wallet or exchanged from any of the 138 cryptos it supports.

As it stands, SportX is authorised for use in South America, Canada, most European countries excluding France and the Netherlands, and throughout most of Asia.

SportX Also Allows Betting on Crypto Prices

SportX allows users to bet on the outcomes of their favourite sports, esports and also on crypto prices, bringing cryptocurrencies and betting together with the use of smart contract protocols. This capability ensures users’ funds are protected and payouts are guaranteed on time using the Polygon network. The platform also gives players the option to bet on future price fluctuations of major cryptos such as Bitcoin and Ethereum.

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Australia Betting Crime Crypto News Gambling

Australian Serial Crypto Conman Will Strike Again, Warns Alleged Victim

A former commercial airline pilot defrauded of millions of dollars in Bitcoin has cautioned other cryptocurrency investors about notorious Australian serial scammer Peter Foster.

Peter Foster arrested by Queensland Police on Port Douglas beach, August 2020. Image: IFW GLOBAL/BLOG.IFWGLOBAL.COM

Konstantinos “Dino” Stylianopoulos, a resident of Hong Kong, claims he was defrauded of A$2 million in Bitcoin by Foster in an online gambling scheme, Sport Predictions, run by Foster under an alias.

Police allege bets made by Stylianopoulos and others participating in the scheme were never placed and instead diverted to Foster.

How a $2 Million Bitcoin Investment Ballooned Into An Estimated $8 Million Loss

“Getting anything back from somebody like this is very difficult,” says Stylianopoulos, who claims he lost an estimated A$8 million when the price of Bitcoin later soared. “The bigger objective is to stop (Foster),” he told The Australian newspaper. “In Australia, I don’t believe anybody else has hurt more people.”

“It’s like (the fable of the frog and) the scorpion … ‘Why did you bite me?’ ‘Because I’m a scorpion’.”

Konstantinos Stylianopoulos

Foster remains at large, released on bail in a jurisdictional mix-up between authorities in NSW and Queensland, where the Sport Predictions operation was based. He had been extradited to NSW as the operation’s Bitcoin transfers were made through a Sydney cryptocurrency exchange.

Police In Two States Lack Shared Jurisdiction

According to Stylianopoulos, NSW prosecutors contacted him the day before Foster was bailed by a Sydney court. “There was no chance for me to voice any opinion on it,” he told The Australian. “My biggest question is, why didn’t they coordinate with police in Queensland to just do a handover?”

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Betting Crypto News Gambling

Asian Racing Federation To Counteract Illegal Crypto Betting

The Asian Racing Federation (ARF) warns that cryptocurrencies and blockchain technology are aiding illegal betting across the continent. This poses “several risks to legal betting operators and wider society”, according to a recent ARF report.

In its 12-page report, ARF asserts that legal betting is under threat, mainly due to the privacy feature of cryptocurrencies such as Bitcoin, Ethereum and others. The anonymity associated with digital currencies enables many punters and betting operators to bypass regulatory restrictions, anti-money laundering policies and know-your-customers measures, the report says. 

Such sites and apps facilitate illegal betting by allowing illegal bookmakers and bettors to circumvent any restrictions on payment processors, and to move money instantly and anonymously.

Asian Racing Federation report

Over 780 Offshore Betting Platforms Accept Cryptocurrency

More than 780 offshore betting websites accept payments in one or more top cryptocurrencies. The report also claims that these platforms accept players from jurisdictions such as Hong Kong, Australia, Japan and Singapore.

ARF is concerned that the increasing adoption of cryptocurrencies in the betting space could result in more illegal betting activities.

The rise of cryptocurrency and blockchain in the betting industry underlines a key point in the global anti-illegal betting narrative, which is that illegal betting operators will always be swifter and more agile to adapt to new technologies and regulatory loopholes/grey areas.

Asian Racing Federation report

Authorities in several Asian countries are cracking down on illegal betting sites. In April, Chinese law enforcement officers arrested a group of developers running an illegal decentralised gambling platform. 

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Crypto News Gambling Gemini

Las Vegas Casino Partners With Gemini Exchange To Offer Crypto Services To Customers

Las Vegas Casino Partners With Gemini Exchange To Offer Crypto Services To Customers

Major casino group Resorts World Las Vegas has teamed up with crypto exchange Gemini to “enhance the overall guest journey”.

Resorts World Las Vegas has affiliated operations in the Americas, Malaysia, Singapore, the United Kingdom and the Bahamas, and it is committed to being the most crypto friendly major casino group in operation. This may offer a decisive competitive advantage in the cut-throat international gaming market, which is struggling to rebound from lockdowns and impediments on global travel. Gemini also recently partnered with Mastercard to launch crypto rewards credit card.

Whether it’s the ability for their customers to use cryptocurrency at Resorts World Las Vegas or convert dollars into crypto, being one of the first to support crypto is a great way to meet the needs of the next generation of customers and provide a 21st century experience.

Tyler Winklevoss, CEO of Gemini

Gamblers, cryptos and banks

This type of adoption adds to the wide-scale applications of crypto currencies for everyday transactions. Gambling high rollers have long struggled with anti-money laundering (AML) legislation as their pastime requires the wiring of huge volumes of cash, often across international borders. For example, Bank of America received significant customer backlash when it froze the accounts of poker superstar Daniel Negreanu for apparent violations of its AML code for legitimate gambling related transactions.

Crypto-holding casino gamblers of all bankroll sizes will welcome the opportunity to deploy their funds with the least amount of intermediary transactions. Complicated cross-border money wire transfers may become a thing of the past as crypto wallets are not subject to the same onerous restrictions as bank accounts. Seamless crypto usage, in this case to pay for resort stays and gambling, may bring advantages to the entire business ecosystem.

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China Crypto News Gambling

Police Arrest a Team Running Illegal Gambling DApp in China

The Jianhu police have arrested a team of developers in the city of Yancheng in Jianhu province, China. The team has been operating a decentralised gambling app on the EOS network. Police have seized 26 million Yuan ($3.8 million USD) in EOS and BTC in illegal revenue.

China’s First Illegal Gambling DApp shut down

In a news report issued by the Jianhu Police, they have arrested 25 suspects that have been part of the online casino called “DAPP Biggame“. Between June 2018 and December 2020, the team behind Biggame allegedly profited from the operations with crypto assets worth 60 million Yuan, or nearly $10 million USD, law enforcement officials said. This is China’s first case involving a decentralised digital casino.

Apprehended suspects at the Biggame office

The report states that a preliminary investigation was opened on November 13, 2020, where they analysed 27 million transaction data in order to find contract addresses used for betting, lottery, and prize distribution, which led them to the perpetrators. Cryptocurrencies were used as a medium for betting and provided a platform to participate in illegal betting.

This DAPP does not need to be downloaded. Users can access and log in on the public chain or through various grapefruit coin wallets, and directly use the grapefruit coins to place bets.

Jianhu police

The DApp allowed players to use EOS smart contracts to place bets on various games such as Dice, Texas Hold’em, and others.

Illegal Activity on The Blockchain

Toward the end of 2020 Yancheng court sentenced individuals that were behind a multinational pyramid scheme to up to 11 years in prison. The perpetrators defrauded investors out of 14.8 billion yuan (US$2.25 billion). The size of the PlusToken scam makes it one of the largest uncovered Ponzi schemes in China to have taken advantage of blockchain technology.

The Chinese police started an “Internet Cleansing Movement” operation which is set to clamp down on illegal online activities from online gambling to money laundering.

Since Q4 last year, an increasing number of court rulings show that nearly 100 individuals have been convicted for knowingly laundering money through crypto over-the-counter trading desks that involved more than $30 million worth of Tether’s USDT.

Other arrests we’ve seen recently:

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Bitcoin Bitcoin Casino Gambling Gaming How-to

How to Deposit Bitcoin into Your Bitcoin.com Games Account

Bitcoin.com
Bitcoin.com

In this article, we’ll explain how to deposit Bitcoin in the popular online Casino provided by Bitcoin.com Games.

You can deposit either Bitcoin (BTC) or Bitcoin Cash (BCH) which can both be used to play all the games. If you don’t have any Bitcoin to deposit you can also buy it on their website using the instructions below.

  1. How to Deposit BTC
  2. How to Buy BTC through the Website

How to Deposit BTC

Follow these instructions to deposit Bitcoin into Bitcoin.com Games from an external wallet to your account.

  • Login to your account
  • Click Deposit button (top right)
  • To deposit BTC, first copy the deposit BTC address, then send your BTC to this address
  • Or to deposit BCH, click Convert Coins and then send your BCH to automatically get BTC into your account
  • After 10-15 minutes (depending on the Bitcoin blockchain waiting time) you should see the deposit incoming on your account page’s Deposit History tab.
  • You can refresh the transaction by clicking the Refresh button.
  • When the transaction is completed the funds should show in your account as credited.

That’s it! You can now use your funds to play the Games such as Pokies or Roulette.

How to Buy BTC Directly

You can also buy BTC directly through Bitcoin.com Games.

Some notes:

  • They use a 3rd party provider called MoonPay.
  • Minimum deposit of $30 AUD.
  • There is quite a big spread on the Bitcoin price. See MoonPay fees for more details.
  • The process takes about 10-15 minutes to completed funds received in the account.
  • Login to your account
  • Click Deposit button (top right)
  • Click Use Credit Card
  • Enter the dollar amount you wish to deposit
  • Follow the steps to create a Moonpay account (if you don’t already have one).
  • Once your order is placed you should get an email with the transaction details.
  • It should take around 10-15 minutes for the funds to be available in your account.

That’s it! You can now use your funds to play the Games.

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Australia Bitcoin.com Games Gambling Press Release

Winner Cashes Out A$200,000 from Bitcoin.com Games

Bitcoin.com Games gave this player 200,000 reasons to be happy this spring!
Bitcoin.com Games gave this player 200,000 reasons to be happy this spring!

Lucky player bags two epic wins within minutes

What started as a perfectly normal month of March for this player turned out to be a life-changing experience when they won, not one, but two big rounds of The Dog House Megaways slot on Bitcoin.com Games.

Starting off with a small bet of A$28, the wheels of fortune started turning for the player when the reels started spinning in their favour, landing the player their first win of A$22,724. A chunky 788x of the original bet amount!

A win like that could take anyone’s head for a spin, but little did the player know what the future had in store for them. As they kept spinning the reels of this one-of-a-kind Megaways slot, Lady Luck decided it was time to bring massive fortunes to the player. Only this time the bet was A$14, and the win? A$211,974.

The Dog House Megaways
The Dog House Megaways – 13,870x and 788x multipliers applied to player’s bets resulting in a total win amount of A$234,700!

A celebratory pause would ensue as the player gathers themselves back into a winner’s composure and spins the reels a few times before cashing out A$200,000 from the crypto casino.

Online casino games are well-known for churning out massive amounts of money on the most unlikeliest of bets, no matter how small. The Dog House Megaways video slot on Bitcoin.com Games is loaded with over 100,000 ways that a player can win. With amazing graphics and great gameplay, this and many other slot games on the premium bitcoin casino offer big win multipliers that can land players in the lap of ludicrous fortunes.

Play popular casino games with big jackpots that you can exclusively play on Bitcoin.com Games.

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Bitcoin Bitcoin Casino Bitcoin.com Games Gambling How-to

How to Play Pokies Online With Bitcoin (Free & Real Money)

With the recent impact of COVID – leading to the pokies being closed across Australia for long periods of time, people now have the opportunity to stay entertained and win Bitcoin by playing their favourite games online using their digital devices.

How to Play Pokies Online for Free

  1. Go to the Bitcoin Games website
  2. Select your pokies game type (ie Buffalo Power, Fruit Million or other)
  3. Click “Free Play”
  4. Have fun!

Whilst playing for free can be fun and risk free, some people may prefer to play and win Bitcoin. Let’s take a closer look at the available Bitcoin games.

How to Play Pokies Online with Real Money and Win Bitcoin

  1. Go to the Bitcoin Games website
  2. Select your pokies game type (ie Buffalo Power, Fruit Million or other)
  3. Click “Play Now” (real money)
  4. Click “Deposit”
  5. Transfer your Bitcoin to the casino wallet using the address provided (or purchase using different payment methods). See our guide on How To Deposit Bitcoin into your account.
  6. Bookmark your game for future use
  7. Have fun, stay safe, and bet within your limits!

The Differences Between Playing Pokies Online vs Real Life

  • The terminology can be different – “Pokies” are called “Slots” online but they are essentially the same thing.
  • Game credits are different – Game credits are different online, and can be a bit complicated to get your head around. They are also specific to each game. For example: In the Buffalo Power game 1 Game Credit is equal to 1 MBTC (1/1000 BTC). So if you had a balance of 72.75 game credits that might equal 0.00007275 BTC which might equal A$4.59. The actual value depends on the game being played and the BTC price at the current time.

Choosing Your Pokies Game

Bitcoin Games – Pokies Game Selection

There are more than 140 different pokies to choose from, including:

  • The Angry Banker
  • Slots
  • Diving Dragon: Hold & Win
  • Buffalo Power: Hold & Win
  • 5 Super Sevens & Fruits: 6 Reels
  • Fruit Million
  • Legend of Cleopatra Megaways
  • Super Sunny Fruits
  • Book Of Cats
  • Pearl Beauty: Hold and Win
  • Elvis Frog in Vegas

And many more!

How to Pokies Play using your Web Browser

Bitcoin Games – Buffalo Power Pokies Games Controls

The pokies game controls are pretty simple. The giant orange button in the middle is the spin button and you also have other controls for auto spin, quick spin, turn sound on/off and change the bet size.

Depositing Funds using Bitcoin or Bank Card

Please see our full guides on how to deposit using Bitcoin or your bank card which explains the process in great detail with screenshots and a real example.

Withdrawing Funds to your Bitcoin Wallet

Please see our full guides on how to withdraw to your external Bitcoin wallet which explains the process in great detail with screenshots and a real example.

Other Considerations when Playing Pokies Online

Some other things worth mentioning:

  • You can play anonymously without registering an account.
  • You must be 18 years or older to play with real money.
  • If you’re playing with real money then you’ll need to copy your account URL (so you can go back to use your account). To do this go to your “My Account” at the top right menu and click “Copy” and then paste this into a safe location (or open in your browser and save as a bookmark).
Copying your game account URL for future use

Conclusions

Playing games online can be a fun way to enjoy your time and win Bitcoin while you’re at it, especially if you’re stuck inside. There are other games available to play including: Roulette, Keno, Blackjack, Poker and Craps.

Gambling Addiction Support

Gambling addiction is a real problem for some people – if you need help please call the Australian Gambling Hotline 1800 858 858 or visit gamblinghelponline.org.au for support.

Categories
Betting Gambling

Winz.io Launches Rewarding Bitcoin Mining Adventure with 1 BTC Grand Prize

With bitcoin mooning and surpassing all of its previously-set records, people worldwide are rushing to obtain profits. Miners are also keen on solving the proof-of-work problem in exchange for a chance to add the next block and reap their bitcoin reward. What if there was a better way to profit off bitcoin’s recent bull run?

Introducing Gamified Mining with Winz.io

Mining is complicated, but with Winz.io, it has never been easier! The casino has just announced the Winz.io Bitcoin Mining Adventure, where players can enjoy their favourite slots, level up, and obtain cash prizes for each of the levels they beat. That’s it. There are absolutely no restrictions concerning wagering limits, minimum bets, or maximum prizes. In fact, the first person to complete the 40 levels will not only obtain a prize for each level, but also the grand reward – one entire bitcoin! Each wager unlocks profit potential and puts users higher on the leveling leaderboard, so there’s nothing to lose. Profits are still paid out depending on the outcome of the slot roll.

The levels are open to all of Winz.io players, meaning that users can play up to wherever they feel most comfortable with their winnings.

Highlighting Winz’s Value Proposition as the World’s Top-Ranking Crypto Casino

Founded and licensed in early 2020, Winz.io has quickly established its title as one of the market’s best digital currency casinos, boasting not only great games, but also a plethora of payment methods and a tight-knit community.

With this being said, Winz.io collection of games includes highly-entertaining slot titles, such as jackpot slots, megaways slots, and buy bonus slots. Players can also find a formidable collection of table games and profitable lotteries. As expected, the casino features live games. Here, customers can interact with professional and engaging dealers, thereby accessing a superior experience that’s filled with authenticity and emotion. The Winz.io game catalogue is only provided by the industry’s finest developers. Winz.io therefore collaborates with the likes of Evolution Gaming, Amatic, iSoftBet, NETENT, Microgaming, and many others.

Winz.io is renowned for having one of the industry’s most future-thinking payment policies. As such, customers can deposit and withdraw their funds via cryptocurrencies, as well as fiat-based payment methods. Some of the main means of payment include debit cards, bank transfers, and support for e-money payment services. Thanks to a partnership with CoinsPaid, cryptocurrency enthusiasts can gamble using Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, and Tether. Most deposits are confirmed within a few minutes, whereas withdrawals are processed instantly. Thus, users will no longer have to spend days waiting to cash in their winnings. This is especially the case with crypto-based withdrawals, which are lightning quick! Readers must also note that Winz facilitates crypto-to-fiat exchange: possibility for the instant exchange to FIAT on deposit and back to crypto on cashout.

Winz.io is thoroughly appreciated within the gambling reviews market. It’s been rated as ‘great’ by some of the most popular casino review websites, including Askgamblers.

Winz.io Optimal RTP policy

Return to Player (RTP) is a casino term describing percentage of any wagered money that slot machine games pays back to players over time

Most online casino operators have similar selection of slots, however, not all slot games are offered in the same way. This is due to many casino operators offering adjusted versions of popular games, often reducing Return to Player, sometimes up to five percentage points. We at Winz.io always keep original casino games settings ensuring more entertainment for the same money. Players can always check the game’s RTP tapping information icon of every slots game’s thumb.

Winz.io follows Optimal RTP Policy and chooses original slot games settings of return percentage in every situation.

Bottom Line

Thanks to Winz.io’slucrative bitcoin mining promotion, those who missed the bull run can certainly round up their profits. No other casino has ever put prizes as large as 1 BTC on the table, so it only makes sense that there’ll be a lot of competitive, but very entertaining gameplay! Winz.io – Every Bit of Fun!

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Gambling Regulation

Where Gambling and Cryptocurrency Meet: How Regulations Differ Internationally

Throughout the world, traditional forms of gambling are enjoyed by the masses in a variety of ways. From local fights and races to casino-style establishments, finding opportunities to make a wager is fairly easy if you know where to look.

For many today, and even if traditional gambling options aren’t around, they need look no further than the internet. Online casinos can be found that serve virtually every country on the planet. In order to maximise the potential for profitability, many casinos allow players to pay via cryptocurrency.

But how do online gambling and cryptocurrency interact with one another in countries across the world? Let’s look at some of the regulations and how they differ.

Australia

Australia has had a varied history with the concept of cryptocurrency gambling. Originally outlawed in 2018, there have since been a variety of pokies that allow Australians to play online games and use cryptocurrency as payment. While not all online casinos in Australia allow the use of cryptocurrency, many of the best ones do. To learn more about these casinos, visit our website here.

United Kingdom

The laws regarding the use of cryptocurrency for online gambling in the United Kingdom are a bit more lax than other Commonwealth countries. A variety of online casinos and gambling platforms allow players to deposit cryptocurrencies and even be paid out in them. 

The UK Gambling Commission has made it clear that cryptocurrency in gambling is legal, but has warned players about the dangers of using less than reputable casino websites. 

United States

The United States has virtually no rules or regulations governing online casino use by its citizens, instead placing the regulatory burden on the casinos themselves. For the past several years, cryptocurrency has been regulated as a commodity by the Securities and Exchange Commission, which means it is legal to use in any gambling situation (however, profits earned from the use of cryptocurrency will be subject to taxation like any other form of income).

China

In the world’s largest country, gambling of any kind is considered an illegal activity. This includes domestic gambling operations as well as citizens playing via international casinos. However, there are many examples of these laws being ignored in China. 

While cryptocurrency is legal, its use in online gambling is non-existent under legal definitions. However, this doesn’t stop hundreds of billions of dollars from being funnelled out of the country in order to be used for international gambling purposes.

Japan

Japan has incredibly strict regulations governing the act of gambling at-large. Physical casinos weren’t allowed in the country until a 2018 law changed that (it can be argued that pachinko is a form of gambling that has existed for many years, but not strictly defined as such in Japan). Domestic online casinos are non-existent, meaning any gambling by Japanese citizens must occur via international platforms. 

As such, the use of cryptocurrency for gambling – due to separate regulations governing cryptocurrencies themselves – is generally non-existent in Japan.

With such a wide and varied assortment of national laws regarding cryptocurrency and gambling, it might be difficult to remember all of the exceptions. However, most countries do allow the use of cryptocurrency and also online gambling, which means you’re very likely to find an online casino in your country that takes this form of payment!

Written by Guest Author Dan Cormac

Dan Cormac knows how to make his money go further. A freelance financial journalist, Dan is passionate about personal finance. Whether you hope to escape the chains of debt, to save for a house, or to retire within a decade, Dan explores the most effective ways you can achieve your financial goals.