When it comes to gambling laws and regulations, the situation is one of constant change. This is because the way the public reacts to gambling freedoms is unpredictable. Since the digital revolution of the mid-1990s, technology has made gambling readily available to the masses. The introduction of online casinos and slots has unsurprisingly changed the face of gambling beyond recognition. Gambling has increased amongst the public and people from all backgrounds are now indulging in this hobby. People now prefer online gambling to traditional forms of betting. The popularity of online gambling has boosted the revenue the gambling industry creates and this has mostly been driven by the popularity of online slots. However, with so many new gamblers out there, problems have occurred with problem gambling and gambling addiction.
The Importance Of New Laws
With so many new punters out there and new forms of gambling being readily available to them, it is important that laws are constantly updated. These laws are not only designed to curb gambling addiction, but they are also put in place to protect punters from unscrupulous online casino establishments. When the first online casinos hit the internet there was little regulation of these virtual entities. The explosion in numbers of these virtual venues was met with a huge increase in complaints about them too. This brought about the creation of the UK Gambling Commission and its job was to set criteria that all online casinos must meet before they are given a license to trade in the UK. Now the UK Gambling Commission creates a safe and honest gambling environment for punters. Even though slots are random, they still need to be tested by regulatory bodies to make sure that they haven’t been rigged in any way to increase the house edge that they already have.
Organizations such as the UK Gambling Commission move with the times but occasionally they are forced into action by pressure groups or MPs. Recently, high profile stories of gambling addiction have hit the headlines. This has tarnished the gambling industry and a few casinos and high profile gambling brands have been named and shamed in the process. Recently, the UK government was pressured into action and was forced to create new laws. Following a long consultation, the government was advised to lower the maximum bet from £200 to £2 on B2 Fixed Odds Betting Terminals that are found in betting shops up and down the UK. This was announced on 17th May 2018 and implemented in October 2019.
Further Changes Are Inevitable
Now the focus has moved to online gambling and in particular, online slots. These popular games are creating record revenue but are now the new target of pressure groups. The worry here is that betting limits have not been applied to them and punters can still spin these games for up to £200 a spin. Already, betting with credit cards has been recently outlawed, so the betting limit on online slots looks like it will certainly be introduced in the near future.
Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry
The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.
“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director, “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography. We’re really happy to welcome them into our partnership ecosystem.”
The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement.
Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…