The new product will be available through the existing sportsbook platform, with the intention of being a complement to existing betting features. The theory is that during downtime of sports events, such as half time, players can pass the time trying out the bitcoin bets that are over in just a couple of minutes.
The Bitcoin bets will be based on whether the user thinks the price of bitcoin will increase or decrease within the set time period, allowing for quick and snappy bets to keep players busy whilst waiting out the adverts during sporting events. If the campaign is a success, Amelco has stated that they look to introduce other financial indices, such as currency, oil and gold
Amelco's Bitcoin stock betting seemed to come at the perfect time, with the end of Europe's Binary Options ban which was started on the 2nd of January, spanning 3 months. However the European Securities and Marketing Authority (ESMA) has since extended the ban for a further 3 months, meaning that this feature will be inaccessible to players in the EU, including the UK.
Justin Head, Amelco’s Head of Global Financial Products said: “The best part is that Bitcoin never sleeps, so punters can have a simple, affordable bet whenever they fancy, with the chance to know if they’ve won in as short as minute.”
Changes such as, the way operators were able to advertise their gambling products, with progressively stricter rules on where they can advertise and what can be used in their campaigns. Restrictions on the people that can feature in gambling advertisements, along with the placement across the internet and the TV channels they can be seen on. The efforts were not restricted to online gambling, with a mandatory reduction in the maximum bets allowed through Fixed Odd Betting Terminals (FOBT) from £100 to just £2. It is rumored that the recent changes to FOBT may also be applied to online gambling in the UK sometime in the future
According to the Labour Party, around £8.5 billion is wagered every year through credit card transactions in the UK alone. The primary concern is, that it allows for problem gamblers to bet money that they do not have – further adding to the debt and causing a downward spiral of gambling to get out of debt. Jeremy Wright added that more than 20% of all deposits at gambling facilities are made using credit cards and if this new ban becomes a reality – this could dramatically help limit the gambling addiction in the country.
Wright stated that one of the biggest issues is, the fact that players are able to have multiple credit cards and rack up huge debt in just a few transactions. A particular case was mentioned where a player managed to end up with over £100,000 worth of debt after using nine credit cards to gamble.
Wright has confirmed that the UK Gambling Commission (UKGC) has begun investigating the best way to proceed and implement these changes, if they were to be enforced.
The North Carolina tribe will be the first to offer sports betting in the state, with the previous laws only permitting live poker, slot machines and video-style games. The legislative piece on route to the state’s House would permit players to place bets on both professional and college sports matches. Senator, Jim Davis stated that this could bring up to $14 million in revenue for the tribe and $1 million for the state itself
In the following months, it will be interesting to see if the other tribes within North Carolina follow a similar path in legalising Sports Betting now that the first steps have been made by the Eastern Band of Cherokee.
Sportsbooks around the world had been playtesting a new type of wager, for the shows viewers to add a bit of extra excitement to their experience by placing bets on various events in the show. Wagers were placed on events such as, first character to speak, which characters would die and how many characters would die. However, with the opportunity for the show to be watched hours before its scheduled released – gamblers had a glance into the future to both place and pull their bets.
DirecTV’s mistake cost a number of sportsbooks thousands, with one operator stepping forward to say
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