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Are Gambling Regulations For Slots Changing?

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gambling regulations

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. 

Changing Times

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.

Image by stokpic from Pixabay

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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