Bitcoin Casino News

Google Lifts Its Ban on Cryptocurrency Advertisements

Posted on September 26, 2018September 25, 2018 by Abe Efe

Earlier this year (in March), Google announced a cryptocurrency ad ban that it went on to roll out in June – these were intended to protect its consumers and involved wallets, trading services, and Initial Coin Offerings (ICOs). This is all about to change with the company on September 25 ending the ban on cryptocurrency advertisements.

In a new update to its advertising policies, the company emphasizes that at the ads that would be allowed would only be those of “regulated” trading sites.

“The Google Ads policy on Financial products and services will be updated in October 2018 to allow regulated cryptocurrency exchanges to advertise in the United States and Japan,” Google explained. “Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October. This policy will apply globally to all accounts that advertise these financial products. For more details, see About restricted financial products certification. The Financial products and services page will be updated once the policy goes into effect.”

Google was one of the tech companies that moved to prohibit cryptocurrency advertisements alongside Twitter and Facebook, though the latter later relaxed some of the restrictions it had placed on cryptocurrency-related advertisements. Google’s ban was so wide-ranging that it affected offerings from both legitimate wallet services and trading professionals.

This crackdown on crypto went on to rapidly spread across the internet leading to various bans from other companies, including LinkedIn, MailChimp and Snapchat. Even though this was meant to stop or at least slow down scammers on the internet it also whipped out legitimate blockchain projects which in turn slowed down adoption of digital currencies, stifled promotion and stoked more fears about mainstream acceptance of crypto.

The Reason Is Yet to Be Known

As is it stands, there has not been a clear explanation as to why the tech giant has chosen to lift the ban barely four months after it imposed it. It is speculated that the company believes that the hype that surrounded crypto, as well as the negative side effects associated with the skyrocketing values, have finally died down are at least reduced significantly. Still, it is possible that Google is simply keeping its eye on the prize i.e., the valuable ad money that crypto will bring in.

“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,” Google’s Scott Spencer said in June when the original ban was rolled out.

Treasury Committee Report Calls for Crypto Regulation

Posted on September 19, 2018September 19, 2018 by Aaron Decker

MPs on the Treasury select committee have recently issued a report that states that bitcoin and other cryptocurrencies are “wild west” assets that expose investors to a litany of risks and therefore, there is an urgent need for their regulation. The report further pointed out concerns that consumers were left unprotected from the unregulated crypto market which also happens to be a conduit for criminal activities such as money laundering and illegal trade.

Apparently, the government and regulators have not been proactive in handling the arising issues that are associated with the crypto market – according to the Treasury Committee.

“Crypto-asset investors are currently afforded very little protection from the litany of risks. Namely, there are no formal mechanisms for consumer redress, nor compensation,” said the committee. “As the government and regulators decide whether the current Wild West situation is allowed to continue, or whether they are going to introduce regulation, consumers remain unprotected.”

Cryptocurrencies are currently covered by the Financial Conduct Authority (FCA), the City regulator, and there are still no formal mechanisms for investor compensation or consumer redress, something that Nicky Morgan, a conservative MP and the chair of the committee, says is unsustainable.

“Bitcoin and other crypto-assets exist in the wild west industry of crypto-assets. This unregulated industry leaves investors facing numerous risks,” Nicky Morgan said. “Given the high price volatility, the hacking vulnerability of exchanges and the potential role in money laundering, the Treasury committee strongly believes that regulation should be introduced… It’s unsustainable for the government and regulators to bumble along issuing feeble warnings to potential investors, yet refrain from acting. At a minimum, regulation should address consumer protection and anti-money-laundering.”

The Treasury Committee believes that there should at least be some regulation to add customer protection and fight money laundering. All of these issues stem from concerns regarding the volatility of digital assets – the prices of cryptocurrencies were so volatile that while the potential gains are quite large, so are the potential losses.

“The FCA agrees with the committee’s conclusion that bitcoin and similar crypto-assets are ill-suited to retail investors, and as we have warned in the past, investors in this type of crypto-asset should be prepared to lose all their money.”

The Treasury Committee’s recommendations have been noted and echoed by a number of stakeholders in the cryptocurrency industry including CryptoUK, a self-regulatory trade association for the United Kingdom’s digital currency industry.

“As an industry, we have been calling for the introduction of proportionate regulation to improve standards and encourage growth,” said Iqbal Gandham, the chairman of CryptoUK. “Self-regulation by the industry was always intended to be a starting point – this must now be matched by government action.”

Hero Gaming Debuts A Faster Online Slots Interface

Posted on September 12, 2018September 18, 2018 by Abe Efe

Hero Gaming is famous for being an innovative creator of fun gaming experiences which can be attested by its solid portfolio which includes online gaming platforms like Speedy Casino, Casino Heroes and sports betting site Betser. Now the Malta-based company is taking the next step with the recent unveiling of Blitz, a new slots interface that will allow players to spin up to six times faster than they used to.

The idea behind Blitz which was developed in collaboration with NetEnt was letting the customers play faster without having to wait for the slots to be displayed after each spin – quite a number of slot players have cited the waiting period to be time-consuming for them. Blitz further allows the players to stop the game at any time, leaving the updated account balance and remaining spins completely visible to the player.

“There’s a lot going on in the gaming world right now, and our focus is always on developing innovative gaming experiences that are both entertaining and technically in the forefront. Behind Blitz is a complex technical solution that meets the needs of today’s gamers – it should be easy and fast while the pleasure factor is high. You should not be disturbed by information and graphics if you don’t want to. We’ve spent a lot of time and effort in developing a technical platform that has both flexibility and strength. Blitz is an example of what we can create on it,” Tomas Bäckman, CEO of Hero Gaming commented. “This is a collaboration between two driven and innovative players, utilizing both companies’ strengths. NetEnt has contributed with significant insights and technical know-how in this process. My assessment is that Blitz will be a contribution to the gaming market.”

The new slots interface has been developed as an overlay on top of NetEnt’s technology, something that is already proving to be immensely beneficial to both companies. While Hero Gaming’s business will be receiving a significant boost from the technological resources that NetEnt has to offer, the operator will be bringing a set of innovative gambling offerings to the table.

“We are pleased that Hero Gaming has chosen to develop Blitz on NetEnt’s platform. Our ambition is to be at the forefront, and we welcome innovative thinking and creative initiatives from our customers. In the future, I think we will see more of this type of products and solutions – to tailor the experience to different gamers. It will be exciting to see how gamers will use Blitz and we are looking forward to following developments,” NetEnt’s chief of product, Henrik Fagerlund said.

Booming Games Releases New Disco Bar 7s Slot

Posted on September 5, 2018 by Aaron Decker

The 70s were a great period that was mostly defined by great outfits and hairstyles, great dance and music, the amazing outfits, and, of course, the simple and captivating slots games that were based on various outstanding elements borrowed from the aspects of the era. In fact, slots were all the buzz back in the day with people obsessing over them thanks to the excitement they offered and the possibilities of huge wins.

Well, if you are nostalgic about the casino offerings from the 70s, then this is your lucky day. Booming Games has recently released a new slot game that will take you on a trip back in time to the dancing 70s. Titled Disco Bar 7s, the new disco title features classic designs similar to what existed in the 70s but it will certainly appeal to each and every slots machine enthusiast on the planet. There are a number of other great slot machine offerings but this is definitely among the very best of them.

Disco Bar 7s consists of 3 reels and 10 paylines which are accompanied with a 95.96 percent RTP – these, in addition to the funky tunes and fast-paced gaming that the slot game features make the game a worthy use of your precious time. Winning big is made even easier with a number of cool multipliers, and Wild and Scatters.

Uniquely Themed

Even though Disco Bar 7s is prominently themed to match the look of offerings from the 1970s, Booming Games went out of their way to make sure that the game was a treat for players. Therefore, they opted to pattern it after the classic fruit slot machines and the results speak for themselves – there is nothing like it.

Disco Bar 7s is a very colorful slot game with its bright blues and purples on the reels. However, every colorful element that is added to the game also serves other purposes by contributing to the overall functionality of the game. Players can find Disco Ball Wilds on the reels – this pays the most and doubles wins when it is part of a winning combination. Similarly, the scatters offer nice multipliers when found on the reels.

The Game Play

From the very first glance, players will notice that Booming Games’ intention with this particular offering was replicating the real casino experience. Once they start playing it becomes even more pronounced as they will feel like they are sitting at a slot machine at a real 70s casino. Furthermore, this extends to playing on the go as well – Booming Games also ensure that the game can be accessed on mobile phones and tablets. Whichever method you choose to access the games, the experience will be nearly the same thanks to some next level optimization built into the game.

200 ICOs and Cryptocurrencies Under Active Investigation

Posted on August 29, 2018August 29, 2018 by Abe Efe

The North American Securities Administrators Association (NASAA), an international task force that is tasked with tackling securities violations in the cryptocurrency industry, on August 28 announced that it has opened active investigations into over 200 initial coin offerings (ICOs) and crypto-related investment products.

First launched in May, the operation – referred to as “Operation Cryptosweep” – has been targeting a number of suspicious crypto investment products. It is composed of regulators from the United States and Canada which makes it the largest coordinated investigation by state and provincial officials. It has also already seen through 47 enforcement actions against ICOs and cryptocurrency investment funds in the U.S. and Canada, something that has earned its praise from Jay Clayton, the chairman of the Securities and Exchange Commission (SEC). The violations the operation has uncovered range from securities fraud to failure to properly register products before offering access to investors.

According to NASAA president and Alabama Securities Commission director Joseph Borg, the regulatory operation continues to commit significant resources to ensure that retail investors are protected. This is especially because many cryptocurrency advocates and financial watchdogs are split on how the ICOs and crypto firms should be regulated. NASAA’s contribution is, therefore, one of the best developments in the sector since other than protecting the retail investors, it will also serve to raise awareness among industry participants in regards to their regulatory obligations and responsibilities.

“While not every ICO or cryptocurrency-related investment is a fraud, it is important for individuals and firms selling these products to be mindful that they are not doing so in a vacuum; state and provincial laws or regulations may apply, especially securities laws. Sponsors of these products should seek the advice of knowledgeable legal counsel to ensure they do not run afoul of the law. Furthermore, a strong culture of compliance should be in place before, not after, these products are marketed to investors,” Joseph Borg added.

Do Your Homework, Investors Told

As it stands, NASAA is the oldest international organization whose main focus is investor protection – it is based on voluntary association and boasts of 67 member states, provinces and territories across the United States, Canada, and Mexico. However, despite its far-reaching capabilities in handling irregularities in the crypto within the mentioned areas, there still needs to be some element of support from other stakeholders.

The operations president has highlighted the need for ICOs to register with the appropriate agencies or, if possible, contact regulators to check whether they qualify for exemptions or not. He further warned investors against dealing with ICO promoters claiming their products is exempt from securities registration unless of course, the claim is verifiable.

“Do your homework and contact your state or provincial securities regulator with any concerns before parting with your hard-earned money — afterward may be too late,” he pointed out.

eToro Brings Bitcoin to Premier League Football Clubs

Posted on August 22, 2018August 21, 2018 by Aaron Decker

Global online investment, FOREX and crypto trading platform, eToro yesterday (August 21, 2018) announced that it has entered into marketing partnerships with seven different Premier League football clubs. The partnership venture which is funded by bitcoin is the very first of its kind and will involve the following football clubs: Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C., Southampton F.C., and Tottenham Hotspur.

“As a global multi-asset platform where you can purchase the world’s biggest crypto assets alongside more traditional investments, we are excited to be partnering with so many Premier League clubs and make history by being the first company ever to pay for a Premier League partnership in bitcoin,” Iqbal V. Gandham, UK Managing Director at eToro said in a statement that accompanied the announcement.

This move is considered to be another great leap forward for bitcoin and the crypto industry as a whole since it is anticipated that it will expose many more people to the idea of digital currencies. Hopefully, this will, in turn, result in new investments, most ideally through the eToro platform.

“The blockchain technology that underpins cryptocurrencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionize the world of football,” the managing director added.

Unfortunately, there is a bit of speculation regarding how the move by eToro to partner with soccer clubs will benefit the cryptocurrency industry – the trading platform is now among a growing number of blockchain-based companies that have either inked sponsorship deals with sports clubs or are hoping to do so in the near future. However, it is quite obvious that the money involved in this case is pretty huge and it would be a mistake not to take. Furthermore, it opens up doors for greater opportunities in the world of sports. As for how this will impact the crypto industry, we will just have to wait and see.

What It Entails

The partnerships will involve in-game advertising on digital perimeter boards as well as exposure on each of the seven cub’s social media channels through the creation of what they have termed as “unique content”. The clubs will also be working closely with eToro in a bid to find ways of harnessing cryptocurrencies and blockchain technology at each of the stadiums.

“We are pleased to welcome eToro to the club as an Official Partner, it is exciting to be working with such an innovative industry leader. Much like Leicester City, eToro is an ambitious brand with a significant global reach and we look forward to working together throughout the season,” Jonathan Gregory, Leicester City’s commercial director commented.

India Considering Crypto Tokens for Financial Transactions

Posted on August 14, 2018August 28, 2018 by Abe Efe

Indian authorities have recently revealed that the country has been exploring tokenized datasets and other cryptographic forms of blockchain technology albeit while still maintaining their rather unfavorable stance towards cryptocurrencies citing their potential role in unlawful activities such as money laundering. As such, the prevailing ban on cryptocurrencies is likely to continue regardless of the government’s interest in issuing digital tokens for financial transactions.

“There are lots of issues that need understanding and lots of studying needs to be done,” a government official who requested to remain anonymous said. “Blockchain is an interesting thing. We definitely want to milk it effectively for financial transactions. So all officials are really trying hard to understand how to separately use blockchain, without cryptocurrency. And understanding a new software takes time.”

According to local Indian news outlet, DNA India, the country’s government have been considering the applications of crypto tokens in several different areas. However, as clarified by the new outlet, the government has excluded any use of cryptography and blockchain technology for the purposes of cryptocurrencies or any other sophisticated means of money transfer and international transactions. In fact, the officials believe that the crypto-tokens, including the ones they are exploring, do not themselves hold any inherent value. Instead, they represent an underlying asset that is only accessible to the private key holders. This implies that the crypto tokens will certainly not be serving as a substitute for fiat currency but will be representing an underlying value so as to enable faster and more transparent payments.

“One will need to pay physical money to buy a token which could be stored as a code in any basic mobile feature phone. It can even be used for remittances. So, it is easy to implement from technology as well as a regulatory point of view. But in the case of cryptocurrency, one needs to allow it as a legal tender first,” the DNA India report explained.

Spearheaded by a Committee

India’s finance ministry has since set up a committee headed by the secretary of the Department of Economic Affairs (DEA) for this initiative. The committee has been tasked with working on a set of regulations and a roadmap to guide the use of the proposed assets in India. A drafty of these regulations, once drafted, will be forwarded to the country’s parliament for further approval.

“The committee is studying the possibility of using cryptocurrencies or crypto technology (distributed ledger technology) for financial transactions and also what kind of regulations are needed for that [while] the currency is totally banned, the committee is discussing its other uses and how it can be mainstreamed in India,” Subhash Chandra Garg the DEA secretary, who is heading the committee, said.

Videoslots.com Signs Supply Deal with iGaming Provider Spigo

Posted on August 11, 2018August 13, 2018 by Abe Efe

Renowned online casino operator, Videoslots.com has entered into a supply deal with independent iGaming software provider, Spigo – a deal which is expected to see to the integration of a ton of slots content. Already, in a bid to ensure that it provides its customers with nothing short of the best and the widest variety of games, Videoslots has partnered with over 70 of the most trusted online gaming software developers and providers and the newly inked partnership with Spigo is not only an extension of these efforts but also a means of expanding its already impressive portfolio.

“Spigo have made a name for themselves developing top quality, enjoyable games and we’re sure our players will enjoy the extra choice that this partnership will deliver. With an initial roll-out of proven slots titles, we hope to follow this up with the integration of further content in the coming months,” William Ahlberg, Head of Games at Videoslots, said.

The announcement was made through an official press release that revealed that Spigo’s high-spec titles brought to Videoslots customers on both desktop and mobile. All of the titles will also feature dynamic jackpots, free games, free spins as well as a variety of unique bonus games.

Spigo’s games are playable on a wide range of devices and can be played for money or just for fun. In addition to this, the software developer has also equipped these games with both single players and multiplayer gaming capabilities – this can be found on their card-based and dice-based games.

“We’re very pleased to deliver our much-loved slot machine titles to Videoslots. They’ve proven themselves as one of the most innovative online casinos around and we look forward to a successful partnership in the future. Our variety of game genres all boast premium graphics, enjoyable gameplay, and exciting bonus features and we’re sure Videoslots’ players will enjoy the titles on offer,” Caroline Maciel, Spigo’s Sales Manager said.

Videoslots.com to Offer Content from Evolution Content

Videoslots.om has also recently signed a high profile partnership deal leading supplier Evolution Gaming to integrate the software supplier’s live casino content.

“We are always looking to add high-quality content to our portfolio and Evolution Gaming has exactly that. The demand for live casino games has never been higher, so with this partnership, we are able to offer more than ever as we continue to grow our portfolio of titles,” William Ahlberg commented on the partnership.

As per the terms of the agreement, live casino offerings like roulette, blackjack, and baccarat will all be integrated by the online casino operator – the same will apply to the casino hold ‘em, three card poker and dream catcher games.

“A lot of work has gone into developing the best live offering possible, and being able to offer that through Videoslots.com is very exciting for us. Our live offerings are some of the best on the market and we are sure Videoslots.com players will love trying them out as we look to build a long relationship together,” Sebastian Johannisson, Evolution Gaming’s Chief Commercial Officer added.

Goldman Sachs to Reportedly Manage Bitcoin for Its Clients

Posted on August 7, 2018August 6, 2018 by Aaron Decker

Goldman Sachs, one of the world’s leading investment banks is reportedly considering a custodial service to store bitcoin for investment funds that intend to hold cryptocurrencies, more so, bitcoin. According to a Bloomberg report that cites more than one anonymous sources familiar with the matter, the investment bank has been holding discussions about becoming one of the first mainstream financial institutions to custody crypto assets.

The custody service, if implemented, is going to be a huge gain for crypto funds and simultaneously have greater implications since it would effectively get rid of a major obstacle that has been preventing institutional investors such as endowments and pensions from comfortably adding crypto assets to their portfolios. Well, such custody services already exist, but until now, they have largely been limited to cryptocurrency startups like Coinbase – instead of Wall Street giants like Goldman Sachs, with whom many mainstream institutions prefer to work.

Response to Client Interest

According to the anonymous sources, deliberations on the issue are ongoing but a timeline for when the investment bank will roll out the services is yet to be set. They further confirmed that this is good news since the custody operation in place could also lead to other lucrative ventures including prime brokerage services.

“That means the bank would hold the newfangled securities on behalf of the funds, reducing risk for clients seeking to guard against the threat of losing their investments to rogue attacks,” the anonymous sources clarified.

As it stands, Goldman Sachs is yet to publicly confirm the claims that it is exploring the aforementioned crypto custody service. Instead, the Wall Street giant has opted to reiterate its previous plans from May this year to offer Bitcoin futures.

“In response to client interest in various digital products we are exploring how best to serve them in this space,” the investment bank’s spokesman said in an August 6 publication. “At this point, we have not reached a conclusion on the scope of our digital asset offering.”

If Goldman Sachs does indeed veer ahead with a crypto assets custody service, it will be joining JPMorgan Chase, Bank of New York Mellon, Northern Trust and Japan’s Nomura. The institution has been taking baby steps with their crypto-related offerings – it has not yet set up the full-fledged cryptocurrency trading desk it announced earlier this year – but all the same, these minor developments are huge milestones for the cryptocurrency industry.

Still, it is worth noting that Goldman Sachs remains very cautious about crypto assets despite their confirmed and rumored efforts to venture into the crypto space. In fact, the institution recently published a statement that expresses its belief that there will be further price drops across the crypto market in the short term.

Illinois Online Gaming Set For Hearings in November

Posted on August 4, 2018August 6, 2018 by Aaron Decker

As it stands, most states that chose to examine online poker legislation in early 2018 moved to abandon it, at least until their next legislative sessions kick off next year. Not Illinois though. The state is set to be the next state to fully launch its online gaming industry, a process that will begin when they create a regulatory framework for legalized sports betting.

There are high some pretty expectations following the announcement by a lawmaker who intends to push for comprehensive gaming expansion that will encompass sports betting, online casino games, online poker as well as daily fantasy sports. The lawmaker, Representative Bob Rita who is also the head of the Illinois House Subcommittee on Gaming Sales and Other Taxes, believes that by advancing the proposed regulatory framework bring “tremendous opportunities to create revenue, jobs, and economic growth” in the state.
The lawmaker will be bringing together the two House committees in the coming weeks so as to coordinate efforts for a significant gaming expansion bill that promises a number of economic opportunity initiatives. The first of these subcommittee hearings is scheduled for August 22 with the following shortly after on October 3.

“As I have said from the beginning in working on this issue, gaming expansion presents many tremendous opportunities to create revenue, jobs and economic growth in Illinois,” Rita said in a press release. “The gaming landscape has changed significantly since I took on this issue five years ago, and I want to use these hearings to understand how those changes present new opportunities for us to put the right package together as we look to meet budget needs and provide a spark for our economy.”

The primary focus of the hearings, according to WCSJ News, will be to address the possibility of not only online sports betting but also other forms of online gambling. It is hoped that the hearings will assist the lawmakers in better understanding of the issues that need to be addressed as far as sports betting is concerned. The lawmakers will be returning to the capitol in November – shortly after the mid-term election – for the fall veto session and when this comes to an end we will have a clearer picture of the future of online poker in Illinois.

Too Early To Get Their Hopes Up?

Online poker fans residing in Illinois have quite a lot to be hopeful about. This is because the desire for sports betting and daily fantasy sports in the state is strong and since these issues are certainly going to be discussed rather explicitly during the hearings, the push for online gambling is also going to be just as prominent. The inclusion of online poker and other online casino games is being considered by very many of the state’s casino simply because they have seen the benefits similar initiatives have brought to Atlantic City, New Jersey.