Betting Connections: iGaming Recruitment Specialists

Online gambling legislation and regulation. Starting your own gambling product.

Online gambling legislation and regulation. Starting your own gambling product.

Mobile gambling
If you plan to develop an app with the ability to deposit and withdraw real money, then such a product automatically falls into the category of gambling and you will need to license your business for successful operation.
Mobile and Web Based Apps
So let’s talk about the different kinds of online gambling apps available on web and mobile. We’ll be covering both free-play gaming apps and real money casino app games you can find for iOS, Android devices and web browsers.
Mobile gambling is more common for poker, casino, bingo, and skill games. They have advantages in terms of a low barrier to enter the market, instant liquidity, product knowledge, and marketing expertise, minimal infrastructure costs, and the ability to bring a brand to the market quickly. Consequently, this form of gambling does not sit neatly with jurisdictional boundaries. Multiple gambling opportunities are available, including betting on various events and markets, in a relatively simple format. Gambling products can also be integrated into betting on television shows or virtual racing and sports games as well as offering lotteries, bingo, poker and casino games.
Most Popular Gambling Apps
Sports betting, casino, poker and lotteries are the most popular forms of online gambling. However, other forms are available too. These include the following: Bingo, slot machines, different card games, roulette and other game of chance. One of the best things about online gambling and betting apps is the number of choices you have.

Sports Betting

Betting means making or accepting a bet on the outcome of a race, competition, or other event or process, the likelihood of anything occurring or not occurring, or whether anything is or is not true. Today most sports betting is done via mobile-friendly sites and apps.
Today most sports betting is done via mobile-friendly sites and apps.
The introduction of live betting for sports like soccer and tennis means that bettors who are sitting inside stadiums watching games can now pick up their mobile devices and find real-time betting value with the best sports gambling apps. This has really unlocked a door to the future of sports gambling and the popularity of online gambling apps.

Poker

Many sites offer free poker, where no real money is wagered, although in some cases players can accumulate credits that can be exchanged for prizes. This is the case why people are going to play for real money. There is an ongoing debate over whether poker should be classified as a game of chance or skill. The parameters of legal poker playing are still unclear and differ between jurisdictions. Since you are not gambling with money, I’m pretty sure under the law it’s just a video game for now.

Blackjack

Blackjack is the game of choice to many high-rollers and do you know why? Because blackjack is a challenging, logic and skill-based game where your thinking, strategy, and calculations determine the outcome of the game.

Bingo

Bingo is one of the most popular and socially accepted games in the world. Bingo is a traditional form of gambling that has seen considerable innovation in recent years. It is also the only form of gambling recognized in the Gambling Act that does not have a specific statutory definition, the Act providing simply that “bingo” means “any version of that game, irrespective of by what name it is described”. Bingo must be played as an equal chance game. For game to be classed as “bingo” it must meet the Act’s definition of “equal chance gaming” (as opposed to casino gaming). Thus, it: must not involve playing or staking against a bank, and must be a game in which the chances are equally favorable to all participants in the sense that each ticket or chance has the same probability of success as any other.
Licensed bingo is a well-regulated and socially responsible form of gambling that takes place in a safe environment. Many sites offer multiple forms of bingo with different features, types of games, and costs of play. These sites often cater specifically for women and some research suggests that they may appeal to markets who would not typically engage in traditional forms of gambling.

Slots

Slot machine is one of the most beloved game among the gambling community and it has been a part of the industry for a long time. They provide fun and entertainment and their simplicity allows gamers to start playing at once. This can play out in different ways depending on the machine you’re playing. For instance, there’s Pick a Fortune, a five-reel, 20 line game that puts players right in the studio of a television game show, including the potential to play a Deal or No Deal-style bonus round. A super trend over the past few years is mobile-friendly slot games. These apps and websites were developed to enable players to enjoy their favorite games on their smartphones at any time. Another dominant slot trend is licensed branded slots that are based on popular movies, television, and musicians.
Virtual Money vs Real Money
Let’s find out the difference between social gambling and real money gambling, as well as the differences between gambling through apps and gambling through a web browser. It can be quite confusing trawling through all the casinos, slots, and lotteries available, both through your mobile web browser as well as through mobile app stores, in the form of downloadable apps.

Virtual money

The main difference between virtual money and real money gambling is that the in-game virtual currency in social games and gambling-type games is used only like credits that are not paid out as winnings or anything given to player in cash, making these games exempt from gambling regulations.
Virtual money is loaded on user game accounts via in-app purchases in mobile applications or the game balance funding from a card via web based applications.

Real money gambling

Real money gambling via your mobile device is only allowed in countries where laws have been passed that allow for this type of gambling online, or there are no laws in place that prevent it. The payment systems are the legal way of services payment in the gambling app, performing as the intermediary between the gambling facility and the client. With their help, users replenish deposits and withdraw funds to personal accounts in financial institutions. If the application uses the payment system of a well-known brand, that gives players additional confidence in the resource. Nowadays, there is a wide range of payment systems, some of which operate all over the world, other systems are oriented towards the citizens of one or several countries. A number of services accept money of different world currencies, while others allow currency transactions of one state only.
What is an Online Gambling Licensing
The internet has a global audience, there’s no single piece of legislation that covers the legality of online gambling for the entire world. Mobile gambling doesn’t typically accept customers from every single country in the world. It often focuses on certain specific regions.
Instead, most countries have their own local laws that deal with the relevant legal and regulatory issues.
Ultimately, questions of legality all go back to the location of the casino or where the website operates out of. In closed regulatory systems, such as Italy, France, and the Netherlands, licenses, and advertising rights are limited to domestic providers, which must be located within their country’s geographical boundaries and these are only permitted to offer some types of products. Some jurisdictions, for example, Norway, Sweden, and Canada legalize and regulate online gambling, but this is limited to a single site that is owned by the government. Under such an approach, the government becomes the operator and regulator and all revenues are returned to the government.
Remote gambling is generally permitted. That means that an operator that is licensed may provide gambling services to citizens in the country via all forms of remote communication (and using equipment that may be located in the country or abroad). Equally, a remote operator may be licensed to offer gambling services to citizens in any jurisdiction in the world using equipment located in the country. The law provides that, for each type of gambling (betting, gaming, and participating in a lottery), there will be two forms of license available: remote and non-remote forms (land-based). If you provide facilities for remote gambling, online or through other means, and advertise to consumers you will need a license from the licensing jurisdictions or local licensing authorities. Before an online gambling site signs up its first customer, before it accepts its first bet before the first card is dealt, it must be licensed by a recognized governmental entity.
Certain regions in the world have specific legislation in place that allows them to license and regulate companies that operate online gambling sites or provide industry services (such as the supply of gaming software). These regions are referred to as online gambling jurisdictions or licensing jurisdictions.
Depending on what type of entertainment you are going to implement in your internet establishment, you will have to apply for the corresponding permissions. Online gambling laws in Europe vary from one country to the next. The industry is well regulated in some countries and less so in others. There are several online gambling jurisdictions located in Europe. Some of these are members of the European Union (EU), and thus subject to the various rules and regulations of that body, while others are independent. Each of these jurisdictions has an authority that’s responsible for approving gambling sites for licenses that enable them to offer their services legally. They also regulate their licensees.
Countries that Provide Gambling Licensing
Today there are lots of licensing jurisdictions located all over the world and offering different terms for their customers. Depending on the country, licenses can be local, international (distributed in several countries), have a different set of documents for registration, costs of registration and further support, various operating conditions and other special details.

Which gambling license is both internationally recognized?

The government of Ireland offers casino operators, software, and service providers in the gambling industry, with a gambling license that allows gambling operators to conduct business related to casino, lotto, and other gaming-related activities. Ireland Gambling License is one of the most popular license for online casinos worldwide. Ireland has long been recognized as one of the preferred locations for Online Gambling operators to base their operations. This success has been due to a combination of factors, such as a progressive legislative system, political stability, first-rate telecommunications facilities, and a well established financial services industry. A wide range of gambling sites operates out of Ireland including sports betting, casino sites, poker, bingo, and more.
In stark contrast, the UK is the largest regulated market for online gambling in the world, and corporations are already comfortable exploiting the intersections of gambling and gaming, betting in-play, social gaming, Bitcoin, financial trading and spread betting, betting exchanges, e-sports and, most profitably, mobile gambling. 40% and 60% of online gambling in the UK took place in Gibraltar.

International licensing

Europe is home to the following online gambling jurisdictions: Alderney, Gibraltar, Isle of Man, Malta. Malta is currently the country that is most accommodating to gambling companies, and the license offers whitelisted online gambling in sports and casino games in many European territories. But takes an extreme amount of time in paperwork and background checks. Also, you pay 5% of all your gross profit to the EU.
Among countries offering gambling licensing services, the attention should be paid to Curaçao jurisdiction, which is considered to be one of the most promising for the online gaming business.
Curaçao Internet Gaming Association (also known as Curaçao eGaming) is both a regulator and a licensor, and its licensing works worldwide except Curaçao itself, USA, France and Netherlands. Using Curacao as an example, let us examine in detail the process of obtaining a license, the necessary documents and expenses.
How to get a License on Curaçao
  • Documents necessary for company registration:
  • criminal record;
  • passport scans;
  • bank account confirmation;
  • documents proving payments for utility services.
After the company is registered, an operator can apply for the license providing the following documents:
  • a document certifying the right of domain possession;
  • description of games planned to be used in the project;
  • a list indicating countries of potential operation;
  • illustration of server locations to be used in the project;
  • a copy of the agreement with a software provider.
Gambling license cost:
  • Bank account opening $1000
  • Company registration $3600
  • Company management per year $3600
  • Application processing fee $1000
  • License fee per year $4800
  • Equipment/software fee starting from $1500
  • Server maintenance per year $6000
Apart from that pay for technical support and maintenance every year. The entire license issuing process takes between 2-4 weeks. Curacao Internet Gaming Association (CIGA) also has the power to review a license and, if it finds that an operator has breached a license condition, has the power to impose a range of sanctions including revocation of the license.
Apple and Google Gambling Rules
You’ll be surprised at the limited number of real money gambling app options available on the AppStore and Google Play Store. Most real money casino gaming is done through gambler’s mobile web browsers and not through mobile gambling apps that you’ll find for iPhone and Android phones. Apple allows online gambling applications in a few forms, and not just in places where it is explicitly permitted. They do not allow any payments through the applications – those have to be done on the websites. Apple has far stricter developer guidelines for iOS apps than Google does for Android apps, so it’s fine to assume that whatever you choose to download from iTunes is usually safe, secure, and meets a certain standard.
Any real money casino in the iTunes app is required to have proper licensing and permissions before Apple will approve the app for use or downloads. While Google Play is technically regulated, it is much more loose in what can be hosted.

Apple Store

Gambling, gaming, and lotteries can be tricky to manage and tend to be one of the most-regulated offerings on the App Store. Apple has rules for apps that support real money wagering, including sports betting and poker. Those apps and lotteries must have necessary licensing and permissions in the locations where the App is used, must be geo-restricted to those locations, and must be free on the App Store, and Apple rate even simulated gambling apps as appropriate only for users 17-years-old and up.

Play Store

Google keeps the reigns tight. To be able to successfully upload apps to the Google Play store, developers need to have a valid license for the specific countries they are targeting and comply with their regulations. The app must be free to download and must prevent under-age users from gambling in the app. As a final precaution, all gambling apps are required to display prominent information regarding responsible gambling practices. This brings its policy in line with the Apple App Store.
Countries where gambling is illegal
It is also important to remember that while gambling is growing rapidly in many places, in others it is totally or partially prohibited. As well as in the majority of the US, sports betting is illegal in India, Pakistan, and China, three of the largest gambling markets in the world. Most countries have rules against gambling. Almost all Islamic countries prohibit gambling of every kind, but many turn a blind eye to online gambling or simply do not have regulations in place for this grey area.
In the United Arab Emirates, however, any kind of gambling is prosecuted. National lotteries are the only legal forms of wagering on the Asian country’s mainland. Cambodia, North Korea strictly forbids online and offline gambling amongst its own citizens but allows tourists to participate in these activities.
Qatar is the strictest country of all when it comes to gambling laws. All forms of gambling activities are considered illegal, and even sports betting is not permissible.
Starting your own gambling product
Numerous online casino platforms in the market offer fantastic casino games like bingo, poker, roulette, and many more.
If you have an idea, but don’t know where to start, we advise you begin with a Minimal Viable Product (MVP) to pilot your proof of concept for investors. MVP spotlights your core features and lets your investors know there are bigger and better things to come.
For MVP you do not need a large team, just a few people are enough to create a fully functioning prototype. In the case of successful numbers of your prototype, the further development of a full-fledged product will require more team, resources and time, however you will be sure that your development and your costs will pay off.
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iGaming Evolution : Then, Now & Forever

iGaming is one of the fastest growing digital industry in the world. It involves wagering of money or other value on the result of a game or event through the internet. Activities involved in this context include online casinos, poker, sports betting among others.
How the industry has evolved and become more diversified?
iGaming started to gain popularity in the early 90's. Back then, most people didn't have trust in the industry and was perceived as a fraudulent scheme. Blackjack, roulette, craps, and video poker were the main games. In 1998 and 1999, online poker rooms and multiplayer were introduced respectively. The industry has since evolved and expanded in many ways including the introduction of live streaming, mobile gaming, and gamification.
Regulations have also been introduced and iGaming companies have put up measures to ensure privacy and security of customer’s information are guaranteed. This has encouraged many players to join the industry. The biggest challenge companies in this industry face are to give their customers an environment that replicates physical casinos while delivering something special with added value.
What are the existing unique markets in the iGaming Industry?
iGaming hubs are spread around the world with the most popular centered in Malta, Gibraltar, and UK because of low taxes. Asia is rising to be the largest iGaming market in the world. The rapid growth of technology and making up more than 60 per cent of the world's population are the factors fueling Asia to rise in the iGaming market.
What is the potential growth?
The iGaming industry is continuously being changed by new regulations, jurisdictions, and technology. All these factors are shaking up how users gamble online, but their main motive is to take the sector into higher and regulated heights. With the advent of technology and internet accessibility, many people around the world have an easy way to access iGaming. There are also enhanced features in gaming offerings like live games which have attracted more players.
The industry is expected to continue changing, become a newer and better version than it is today. Mobile gambling will remain to be the most important growth area for iGaming in the years to come. The current generation of gamblers wants a proposition that will allow them to access their favorite casinos wherever they are.
How will this industry grow further?
Technology and innovation are taking businesses into new horizons and iGaming is not an exception. The industry will continue to exploit the ever-evolving technology in a bid to make the gambling experience more attractive to customers around the world.
This industry is on the verge of growing to feats that none have foreseen. From a business perspective, its an important element to get into the action early so that when it matures you would be able to reap the rewards. So that being said, it is most definitely the right time for affiliates, marketers and budding entrepreneurs to get into this evolving industry of iGaming.
Visit us at www.asialivetech.com to learn more on how we can get you into the iGaming action


https://preview.redd.it/a6hsoq3py2141.png?width=800&format=png&auto=webp&s=e7671be57ee442e646350926069cfa7d0250b95a
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

iGaming Evolution : Then, Now & Forever

iGaming is one of the fastest growing digital industry in the world. It involves wagering of money or other value on the result of a game or event through the internet. Activities involved in this context include online casinos, poker, sports betting among others.
How the industry has evolved and become more diversified?
iGaming started to gain popularity in the early 90's. Back then, most people didn't have trust in the industry and was perceived as a fraudulent scheme. Blackjack, roulette, craps, and video poker were the main games. In 1998 and 1999, online poker rooms and multiplayer were introduced respectively. The industry has since evolved and expanded in many ways including the introduction of live streaming, mobile gaming, and gamification.
Regulations have also been introduced and iGaming companies have put up measures to ensure privacy and security of customer’s information are guaranteed. This has encouraged many players to join the industry. The biggest challenge companies in this industry face are to give their customers an environment that replicates physical casinos while delivering something special with added value.
What are the existing unique markets in the iGaming Industry?
iGaming hubs are spread around the world with the most popular centered in Malta, Gibraltar, and UK because of low taxes. Asia is rising to be the largest iGaming market in the world. The rapid growth of technology and making up more than 60 per cent of the world's population are the factors fueling Asia to rise in the iGaming market.
What is the potential growth?
The iGaming industry is continuously being changed by new regulations, jurisdictions, and technology. All these factors are shaking up how users gamble online, but their main motive is to take the sector into higher and regulated heights. With the advent of technology and internet accessibility, many people around the world have an easy way to access iGaming. There are also enhanced features in gaming offerings like live games which have attracted more players.
The industry is expected to continue changing, become a newer and better version than it is today. Mobile gambling will remain to be the most important growth area for iGaming in the years to come. The current generation of gamblers wants a proposition that will allow them to access their favorite casinos wherever they are.
How will this industry grow further?
Technology and innovation are taking businesses into new horizons and iGaming is not an exception. The industry will continue to exploit the ever-evolving technology in a bid to make the gambling experience more attractive to customers around the world.
This industry is on the verge of growing to feats that none have foreseen. From a business perspective, its an important element to get into the action early so that when it matures you would be able to reap the rewards. So that being said, it is most definitely the right time for affiliates, marketers and budding entrepreneurs to get into this evolving industry of iGaming.

https://preview.redd.it/q7g6c2fttdn31.png?width=800&format=png&auto=webp&s=7fb161e413b42f19e9be13ea7456cc4592bece3f
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

IGAMING EVOLUTION : THEN, NOW & FOREVER

iGaming is one of the fastest growing digital industry in the world. It involves wagering of money or other value on the result of a game or event through the internet. Activities involved in this context include online casinos, poker, sports betting among others.
How the industry has evolved and become more diversified?
iGaming started to gain popularity in the early 90's. Back then, most people didn't have trust in the industry and was perceived as a fraudulent scheme. Blackjack, roulette, craps, and video poker were the main games. In 1998 and 1999, online poker rooms and multiplayer were introduced respectively. The industry has since evolved and expanded in many ways including the introduction of live streaming, mobile gaming, and gamification.
Regulations have also been introduced and iGaming companies have put up measures to ensure privacy and security of customer’s information are guaranteed. This has encouraged many players to join the industry. The biggest challenge companies in this industry face are to give their customers an environment that replicates physical casinos while delivering something special with added value.
What are the existing unique markets in the iGaming Industry?
iGaming hubs are spread around the world with the most popular centered in Malta, Gibraltar, and UK because of low taxes. Asia is rising to be the largest iGaming market in the world. The rapid growth of technology and making up more than 60 per cent of the world's population are the factors fueling Asia to rise in the iGaming market.
What is the potential growth?
The iGaming industry is continuously being changed by new regulations, jurisdictions, and technology. All these factors are shaking up how users gamble online, but their main motive is to take the sector into higher and regulated heights. With the advent of technology and internet accessibility, many people around the world have an easy way to access iGaming. There are also enhanced features in gaming offerings like live games which have attracted more players.
The industry is expected to continue changing, become a newer and better version than it is today. Mobile gambling will remain to be the most important growth area for iGaming in the years to come. The current generation of gamblers wants a proposition that will allow them to access their favorite casinos wherever they are.
How will this industry grow further?
Technology and innovation are taking businesses into new horizons and iGaming is not an exception. The industry will continue to exploit the ever-evolving technology in a bid to make the gambling experience more attractive to customers around the world.
This industry is on the verge of growing to feats that none have foreseen. From a business perspective, its an important element to get into the action early so that when it matures you would be able to reap the rewards. So that being said, it is most definitely the right time for affiliates, marketers and budding entrepreneurs to get into this evolving industry of iGaming.


https://preview.redd.it/83j01zs6g2u21.png?width=800&format=png&auto=webp&s=2d5959ab32f65de50e354bda28010ca02119084b
submitted by ALT_OFFICIAL to ALT_AsiaLiveTech [link] [comments]

Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm (Full Article No Link)

Alan Booth is the CEO of one of Cryptopia, an exchange regarded as having one of the widest selection of tokens. Founded in 2014, Cryptopia is one of a handful of blockchain-focused companies in New Zealand.
The Cryptopia team is often tasked with researching hundreds of projects to determine their efficacy before any other major exchange has touched them. The exchange lists many projects in their early stages and post-ICO.
As an entrepreneur and business consultant for over 50 years, Alan Booth’s story is fairly atypical of that of many entrepreneurs in the cryptocurrency world. His perspective on the cryptocurrency is grounded in decades of business development experience, and he views the cryptocurrency exchange realm as one of the most exciting opportunities yet.
In the following interview, we dive into everything from cryptocurrency psychology, the coin listing process, and blockchain entrepreneurship.
How did you get introduced into the crypto world?
That’s interesting. I was consulting for Cryptopia or consulting to assist them in their development path for several months when it became obvious that they needed some senior leadership to move them from where they are, which was basically a reactive technical focus to a more business global focus on how we develop their business model. We are very conscious of the fact that you need a higher level of thinking. You need a global perspective, particularly from New Zealand because there’s not a lot of us down here.
That probably predicates why we’re a global business grown out of such a small population. We’d known each other for a while, certainly six months or so, and when the opportunity came up, why wouldn’t I move from a very safe, comfortable, fun job that I had previously, which was the chief executive of an international flying school. Nothing really scary goes on there.
I am at the latter end of my working life, somewhat semi-retired and all my colleagues went, “You’re going to do what? Are you kidding?” Of course, the blood pressure went up and I said, “yeah, I’m going to have a go at this.”
So, it’s really about the opportunity when you’ve learned so much over 40 or 50 years of developing business models and floating companies and taking them to the world, which is primarily what I’ve done. To find something that’s new and a full of excitement and fear and trepidation and where is all this going? Then it’s an opportunity you can’t afford to pass up. So, it’s just the daredevil saying let’s go.
The risk and the general fervor for the industry have gotten a lot of people very excited. What are the top concerns for exchanges moving forward from your perspective?
They are many fold and they are variable based on feedback from the community and somewhat driven by legislation, driven by corporate requirements. The FinTech world, we’ve got to look at that as well as the coin world. If we want to grow and deliver a product that the average consumer can consume, then we have to deliver all the things that they would typically expect. So, if you went into a retail store to buy a heater, you expect to have a warranty.
You expect to be safe, you expect to be treated well with clarity. And typically, the coin industry to date has not been very good at that because it’s been evolving and mostly evolving from a technical perspective with probably less weight put on the public consumption of the coin. It’s being technically driven as a technical product when you look at it. When you go to the exchange, some of them take a fair bit of thinking about before you can operate.
So, for us, the first thing is trust. If people can’t trust your brand, and that means every part of it, you’re not going to succeed. So, we are very proactive here in New Zealand, talking to legislators, government agencies in and out of New Zealand. KYC, AML, CML, all of that stuff. We are drafting our own internal rules and then most cases they exceed the requirements of our banking partners. So, they look at us and they go, wow, you’re way ahead of where we thought it would be. So, developing a trust relationship with our consumers and business partners is vital. The next thing is developing a stable and functional platform. I don’t just mean the coin exchange itself, but all of the underlying technology. Will we be up? Do we have latency? Are we speedy? Have we purchased the right partnership relationships for our equipment and how do we continue to be able to scale at will and not risk failing to deliver a result? That means helping people get an exchange done, their coins on and off. I suspect it’s the same as every other exchange.
Only thing is, down here, we have really focused on three things to move us very quickly forward. One is the public-facing components. That’s the help desk if you get stuck. We want to be able to respond very quickly. And like the other exchanges, we headed enormous influx in the early part of the year and that was debilitating. Nobody was ready for it. We employed teams of people to come in and train as support operators. We’ve since then spent a huge amount of money on a new ticketing system, which actually went live yesterday.
So, this morning when I come in, there’s smiley faces trying to get their head around it going, wow, this is amazing. So, we triage all the tickets on the inbound route now and puts it in a good space for our response team to reply as quickly as possible, I want. At the moment, we’re not there. Instead of being 40 or 50 hours and all these horrible delays, I want people to have a response from us immediately and I mean within seconds saying we’ve got your ticket. I can’t answer it right now, but we’re on you. Then, within hours, get back to those customers and fix their problem. They don’t deserve to wait 24 hours or 48 hours. People are anxious. Ticketing, we’ve done something about it. Highly trained staff, we’re employing all the time. We’ve developed foreign offices to beat the time zone thing. We now have a support office in the UK that we have had for some time, actually. The next thing is just the stabilizing of our software and hardware.
When you start these things, the enthusiasm and the inexperience of the development team may not know what’s here to them and now we’ve bought in bigger, stronger, international teams. So, that’s great what you’ve got, but let’s do this. So, that’s the phase we’re on now. We’re spending all of our money. In fact, every penny that we generate in this business goes straight back into furthering and developing the products. Nobody’s racing home in Lamborghinis or flying their jets around. They’re just piling into it.
So, that’s how I am in terms of producing a high-quality product. It’s not a decision we just made. It’s always been there, but we are now articulating it internally, that we want to be in the top five of crypto exchanges and digital asset exchanges of some form within the next two years. In the top five, bar none, in every respect.
Would you say the number one component of being thought of as one of the top five would be trading volume? Is that the primary metric?
I absolutely agree with you, but you can’t have trading volume unless you provide the other things first, like security, safety, a good trading platform. If you want trading volume, I have to have a reason for you to trust me, which has to be if I have a failure, will my ticket, be answered? If you do those things, you will get trading volume. I don’t believe you look at it the other way and say, hey, let’s create trading volume because if that comes at you hard and sharp, how are you going to cope with it when something breaks?
It’s technology, things will break. It’s how you address things that go wrong that made you successful, not what you put in place to drive that business in. That will happen if you’re good. The word gets out saying this is a great exchange. They fixed my tickets, they’re fast, they’re responsive, it’s safe. That will create trading volume.
Trading volume for us is income and of course, we want it. We have actually slowed down on coin listings. We’ve slowed down on taking new customers and we’ve slowed down on developing relationships with partners simply to get our platform in better shape so that we can become the most reliable, trusted partner you can have. That will create trading volume, no doubt about it.
Although trading volume does bring in a sizable amount of revenue, there comes a point where it just becomes a vanity metric where people are using an exchange simply because there just aren’t any better alternatives out there.. So, if there is an exchange that can offer all the features that you’re talking about and a premium level of service, then the trading volume will trickle down. There’s no real loyalty for exchanges other than preferences.
Absolutely. We wouldn’t ask for that. Why would you say to somebody, hey, you got to be loyal to us? That’s just silly. You will be loyal to us if I offer you a great experience. That means volume of coins, a huge range to trade through. Ease of trading. One click, two clicks. How about some trading tools just like you see in a modern foreign exchange opportunity? Some arbitrage tools, some tools for measurement, some nice desktop tools.
We want to introduce other things. It just means that you’ve got control over your own reporting and your own desktop environment. It can become a very powerful tool to use as long as we listen to the customers and say, hey guys, we can develop that. Give us a couple of months, let’s put it in front of you.
What is the coin listing process for you guys? What’s the process for someone who wants to get their coin listed on Cryptopia?
We’re just reviewing that and we’re being very focused on changing the way we list coins and who we list. We’re very conscious to gain trust. We are actually your first port of call for particularly those people who don’t know much about coin, so they have to trust their exchange partner. Therefore, we have to make sure that if we list a coin, it’s a viable trusted, honest coin that’s going to give value.
Not just to us as an exchange but it’s not a scam coin. It’s not something just to raise money, pump and dump thing. We have coin listing teams who are very tough. I have introduced people as the CEO to my coin listing team and I can’t get it through them. I’ve said, but these are great guys and I have a great story and I met them in Vancouver and boy, they’ve convinced me.
My coin listing technical team does all the due diligence. Everything from GitHub, Facebook pages, normal stuff like that. If it doesn’t look like a viable product to us on many levels, then it doesn’t get listed. That’s the end of it.
If [the coin] gets past that, we do further due diligence. We’ll actually interview the company. We’ll ask why do you want to list? Why do you want to list with Cryptopia? What’s your plan for the coin? What do you want us to tell customers because they’re going to be relying on us? So, we’d like to do more than just have a coin called 21 Million sitting on the exchange. How about if we had a link to that with some of the criteria we use to judge whether that was a good opportunity. Whether it was a good coin. We might have a 10-point plan and we might say, hey, this coin passed at 9.7. This coin is in, but it only got in at 2.4. Whereas the negative coins, the coins that have gotten negative plans, negative equity in our mindset, they just don’t get on the exchange.
We have a very large number of coins at the moment. We want to remain in that space, be the leader. That means that clearly, we’re not going to get it right all the time because we make mistakes and actually, so do the some of the honest and reliable coin generators. Their plans might not just happen, so they get the benefit of the doubt for a while.
As long as we see that they’re not doing something deliberately to disrupt the market or just to take money, then we’ll support them until they get their business model right. But we’re very focused on a coin listing to us is actually a business partnership. We’re not just going to throw coins up there.
I think 2018 is the year of reckoning, wherein 2017, pretty much anything got listed anywhere. It didn’t really matter how functional the coin was or whether it was legitimate or not. So, it’s really cool to see the trend in exchanges making a stance against that because if the ax falls, it doesn’t fall on the anonymous coin team that could be in Switzerland and Ethiopia. It’s falling on the CEOs and the exchange teams that are allowing access.
People come to us and they say, hey, I haven’t got my money. You’re the exchange. I go, well actually, the coin that we listed, I’m afraid the wallet’s faulty or they didn’t do this, or they ran away. People don’t care. They’re relying on us. That’s why Cryptopia has to be a business partner with each and every user, not just a provider of some coin listings. That would be unethical.
Absolutely, and it’s good to hear. Speaking of regulations, how do you think that’s going to evolve for exchanges, especially being out of New Zealand?
I welcome a regulatory intervention for many reasons. The primary one is that as soon as the regulators start imposing their will and taking notice, it means that it’s a genuine opportunity. They don’t waste their time on something that’s not going to affect global economies or our economy. For example, the New Zealand regulators, we’re working and we’re working with them because they recognize that somebody has got to work with them to tell them what’s going on.
The other side of the fence, that’s us. We have to work with them to say, you can’t do that because it won’t work in this environment. So, working with regulators is critical, in my opinion, and we’re doing that very well. Regulation has to come.
It was just announced in New Zealand a few days ago that we’re going to start, this is unrelated to coins, collecting GST, which is our equivalent of your local taxes, on online purchases. So, typically anything up to $400 that you buy online from Amazon, for example, in New Zealand, you wouldn’t pay tax on and they’re changing that. They’re taking the same view with coins. So, the government is saying, how do we tax revenue? When do we tax revenue? What should it look like? How do we make it fair for you, the exchange and how do we make it fair and manageable by the consumers who may have to declare a capital gain if they’re going, for instance, as an equity or a property as pure speculative fun like betting? And if that’s the case, when should we do this? Should we backdate all that stuff?
Every country is going through this and some have jumped in and made decisions that they’ve had to backpedal on. They were a little bit hasty. In New Zealand, in particular, we have a great relationship with the regulators and all the powers that be, right down to the banks, and are all looking at the space saying, you know what? We don’t quite know what to do, but let’s start doing something and I welcome it.
And the more understanding and control we have on these things at this early stage these next few years, the neater and cleaner will be over the next few years. Just as banking has become very stabilized through regulations, so will this crypto business, whatever it ends up looking like.
New Zealand has its advantages because a smaller population could make building direct relationships with regulating authorities easier. Tim Draper, for example, is investing in Papua New Guinea to try and make this whole digital citizenship country. The Binance guys just moved over to Malta. The global landscape just opened up, and governments will have to start offering distinct advantages to attract companies that could hypothetically set up virtually anywhere.
That’s great because that’s exactly what online trading is about. It’s online and it’s global. We have to join the global party, but we better start from a position of understanding and strength in our own environment. Make sure we have our own stuff together before we start yelling about what someone else should do.
Yeah, absolutely. Shifting gears a little bit, what do you think about decentralized exchanges and how they’re going to affect the whole exchange thing?
The quick and easy answer to that is it will definitely affect the global exchange market. It will definitely affect FinTech because if people who are regular investors and that’s people with mom and pops with a few dollars, right up to institutional investors, if they can see a way of generating revenue and it’s safe, they’re going to move there. They’re not going to discard their other investment opportunities and they’re not going to discard regular exchange-traded equities or working on the stock exchange. But there’s a space here that we haven’t quite worked out who that’s going to work for or how, but the more we regulate, the more we make the tools visible.
The stronger we look to the market and the more professional we look. That doesn’t necessarily mean just wearing a suit into a meeting, but the more gravitas we have behind those discussions demonstrating that we’ve done on the work and that we’ve got smart people here and the technology’s good. We’re ready to come and meet and talk equitably to investors and traditional investment houses. Then there will be a way that they join up. There’s no doubt about it. I mean, it can’t be helped.
How about the lightning network and atomic swaps where you could pretty much exchange peer to peer. You could trade Litecoin for Ethereum directly in one single transaction without an exchange. Centralized exchanges have their benefits, like for example, there’s someone you can knock on their door and say where’d my money go? I need customer support. So, there are advantages there, but then the advantages of a decentralized exchange are just the efficiency. I’m wondering how is that viewed for the centralized exchange world?
I don’t want people to take away my income opportunity. We’re building a business. We would argue, and I think it could be demonstrated to date until the blockchain comes up with some technical solutions. We’re building a trust environment and we are taking on, at considerable cost, the responsibility for providing the trust. First, it’s a coin that we like and here are the reasons. We’ve done the due diligence on your behalf. We allow the transactions to take place and here’s how we regulate, manage and deliver that transaction and manage the wallet relationships.
Cryptopia’s Coin Information display
That’s a role we take on. So, if you trade with a centralized exchange, you’ve got a whole lot of advantages that you don’t have by trading peer to peer. It’s fairly obvious what a peer to peer relationship looks like. If that’s on a personal level, that risk is much greater. If it’s on a more corporate structured level, I don’t know what that looks like yet, but I think we’ve got a long way to go before we could move from centralized exchanges to peer to peer simply because there’s going to have to be some regulation around it. How would the regulators engage in that space? Who are they engaging with? Every single person who wants to trade?
At the moment, they can deal with an exchange that has potentially 2,000,000 to 10,000,000 customers. That’s not easy for a regulator or a tax authority. So, there’s the regular regulatory component. That’s got to be there. Then there’s the trust management and then there are just a few more technical issues that I think have yet to evolve.
It all comes down to running a business. It takes money and capital to get all these users you want to get. If the technology works, that’s great, but onboarding users take resources. How do these projects plan on doing that? It’s just a missing component of every single white paper that tries to go after that who isn’t trying to build a centralized business to oversee it.
I think philanthropy is wonderful and when people are talking about decentralization. It’s a great idea and it’s philanthropic and it would be wonderful if the world could work like that. But there’s never been a business model that has worked without generating revenue. There isn’t one. Everyone’s tried, but you can’t name one that doesn’t have to generate revenue at some point or another.
Even if that revenue is simply generated to make the action happen, the hardware, the software, the bandwidth, someone’s got to pay. So, if you’re decentralizing, how do you get paid? How do you police it? How do you manage it? Why not stick to a model that works? And it’s not just about centralized coin exchanges. It’s not just about front-end institutions. This is a model that’s worked since the first inhabitants of Earth swapped a bean for a stick or can I give you my dinosaur to cook while I bring you a giraffe? I don’t know, but you can’t have a society without an exchange happening of some value in exchange.
Even if I go to a coffee bar with you, here’s the simplest thing. I would say, hey, I’ll meet you for coffee, on me I might pay for the coffee, but guess what? We’ve sat down and exchanged information. I’ve gotten something out of it. How do you do stuff without exchanging value?
It’s push and pull between advancing technology and proving the model works but then what’s the incentive to run it and popularize it because you’ve got that whole chicken and egg problem. We need a bunch of users for this to work efficiently, but we’re not going to make any money doing it. Hopefully, we’ll see how things play out in the next couple of months or years or decades.
I’m down for decades and a lot of failures. We’ll be there watching them saying we’ll help you if we can and hey, go and play guys, but come back here when it doesn’t work because we are going to be here.
What are your thoughts on Bitcoin dominance in general compared to all the other coins out in 2018? So, what does a cryptocurrency landscape look like if Bitcoin happens to fall down to, let’s say, 15\% or 10\% of the market?
Does Bitcoin really dominate or is it just big? If you look at the exchanges and watch the traffic, can you see as much traffic taking place and as much interest in the CoinCash or 21 Million or Kenya or any of these things? They’re all there and people are trading them for various reasons. Mom and pops are going to be doing this to buy a new car.
Someone else purely looking as a store of wealth and other people are looking to dominate a market. So, I’m not sure that you could say Bitcoin dominates. It might be the largest store of wealth at the moment. Does it dominate people’s thinking? I’m not sure about that. If you’re a coin developer, it’s your coin that’s dominant in your mind and you’ll go after a particular vertical, even a geographic market. So, you have the potential to develop your store or your story within that business scope.
Why does Bitcoin dominate? Simply because it was seen as an opportunity? Is it dominated because the people who trade in Bitcoin put so much faith in it being a store of wealth or an opportunity for capital gain? But a lot of those people have run away. That’s why it’s not $20,000 at the moment. It’s just trading between 8,000 and 10,000 in there. So, it stabilized. So, what if it fell over? Some people will lose money.
It’s not going to change the blockchain, it’s not going to change our thinking about cryptocurrencies. It’s not going to change Cryptopia’s approach to the market. It might dominate in volume. I’m not sure it’s the dominant force supporting cryptocurrencies.
I see what you’re saying. It might just be a dominance of user acquisition because there’s a larger chance they heard of Bitcoin instead of Ethereum if they have heard of cryptocurrency at all. So, it’s like the gateway crypto.
Take care that people aren’t saying Bitcoin just like a Hoover, the vacuum cleaner. Every vacuum cleaner for 20 years was called a Hoover. That was the dominant brand. Hey, I’m going to Hoover the floor. What they meant was I’m going to get my vacuum cleaner of which there are 80,000 different makes out there now and they’re going to vacuum the floor, but they just called it a Hoover. So, I trade in Bitcoin.
I’ll bet you someone who says, yeah, I trade Bitcoin, he’s only saying bitcoin because he knows or she knows that people understand that you’re referring to a cryptocurrency. If you say to someone I trade in Clearpoll or CoinMedic3, they have no clue what you’re talking about. They go what is that? Oh, it’s Bitcoin. Oh, I get it. If you went home to your mom and dad and they asked what are you doing? You’d say, oh yeah, I’m trading cryptocurrency. They’d go, oh? What’s what? You’d go, Bitcoin. They go, oh, that thing.
Bitcoin Cash is competing to be known as the Bitcoin for a reason. In the next four or five years, there are millions of people that haven’t even heard of crypto that would probably receive a lot of benefits from being onboarded into the cryptocurrency world. I’m not really sure how what they get onboarded to first matters immediately, but I know it plays a substantial role for a lot of people.
It’s an initiator. It’s a keyword that attracts them to the space that we’re in. It’s simply because it’s got brand dominance in the public persona. If you say a Bitcoin, most people know you’re talking about that strange online thing that no one understands and there are a few other coins, but we don’t know what their name is. As soon as they hit an exchange, if they really want to try it, they’re going to look at the next one down and say oh, I didn’t know that existed. They’ll make their way right to the bottom of the 2,000 list.
So, I really don’t think we should worry too much about dominance or anything that’s measured in that way in the space because the variables that change our value perception on any of these products is a mystery to everyone. A rumor can cause change overnight and things like that have happened. Guess what? They also happen in traditional exchanges.
Go to the London stock exchange and you’ll see a piece in the paper tomorrow that prices rocketed or have fallen over the next day because the public is there. The public is there late, remember. If you see it in the news, it has already happened. That’s the same thing for this.
So, what are your favorite projects out right now?
It has to be blockchain focused. I mean, coins seem to be a tool that are being used to raise capital, raise awareness, create hysteria over or some fun. Some of them, and I believe it’s very few of them, I wouldn’t like to statistically put a number on that, but I think it’s very, very few have actually got a basis of a typical good investment. Is company strong behind it? Do they have good ethics? Why are they doing this? What’s it for? Or is it just to raise money?
When they’ve got money they can go, oh, look how much money we’ve got. Let’s do something. That’s not the way to grow a business. Somebody has to have a good story that’s technically supported. It has to have social value these days. And that means is it good for mankind? Is it going to save the planet? Will it do something? Create manufacturing? Whatever it is.
Hey, I’m not a philanthropist. I’m not saying you’ve got to do something to save the planet. But the youth of today are much more conscious about anything we/they do is about social conscience and social values and responsibility. So, for me, any of those projects, whether they be blockchain based or coin based that do something more than just making money for a bunch of guys, so they can go buy a Lamborghini, gets more of a look and support from us than the others.
There are ways of going and creating wealth for yourself than preying on opportunities that exist simply because exchanges listed them. So, we’re very careful about that. So, I wouldn’t like to say at this stage, we have anyone in particular. We do have some businesses we’re looking at, but they all are very well rounded in terms of their sales pitch. It’s ethical, it’s got a good background.
They have strong management, a history. They’re well-funded already. They’re not just grabbing money to then decide what they’ll do with it.
Well said. The one point you made about how these projects need to be ethical and how that impacts those business models because again, you tap into to the same vein of projects that are looking to substantially change industries that had been stifled by inefficiencies or corruption.
It stretches a long way. If you find a solution that bugs business and usually if it bugs a business, it bugs and effects people, consumers, in some way. That might just be, where it’s blockchain related, securities and tracking things to make this whole trust environment that we live in. The point is we say we can trust but we can’t trust.
Everything we do is about trust. We get lawyers to look after our trust issues and we shake hands and we still wonder whether it’s a deal. So, solving trust issues globally is probably one of the biggest benefits to mankind because once we solve the trust issue, you can then be positive or confident that something that you want to happen and agreed to happen is actually going to happen. If it doesn’t happen, it’s not just about the broken trust. It’s then about the finances involved before you got there.
That’s all gone. The future has all gone around that business model. So, trust management in blockchain and around coins and around exchanges, decentralized exchanges, is probably the biggest thing we have to deal with. Which takes me back to my core development program right now, which is developing a trustworthy exchange.
Make it clear, unambiguous. Make it reliable, deliver what we said we were going to do.
What does a day in the life of Alan Booth look like? What do you do for fun when you’re not doing exchange type things? If there’s even time for fun.
If you’re running an exchange, it’s 26 hours a day to run an exchange. If you can squeeze another hour in, you might find some fun. This is probably my last employment opportunity. I’m in my 60’s. I’ve spent 50 years being an entrepreneur and an arm waver. Wave your arms and see who’s taking notice and make something happen.
So, fun for me is actually the exploitation of a business opportunity. I go to bed hoping that I wake up in the night with an idea to scribble on the pad. I come to work a very early. I’m up at 5 am. I get here at 7 am if I can with the work already done. I don’t want to arrive at work and look at emails. If you’re looking at email and other stuff, it’s other people’s requests on your time. I’m going to arrive here being creative.
I want to arrive every day going, I’ve got nothing to do except be creative and compel all of my employees and partners to support that creativity and bring their own creativity to it. So, you couldn’t have more fun than that, could you? What else is there? Just to make stuff and see people get excited and give them the opportunity.
But when I’m outside of this, hey, I liked to fly light aircrafts. I ride fast motorbikes. I do guy stuff, and when I’m not doing guy stuff, I’m at home helping my wife in the garden. Just an ordinary guy. Most of my daylight waking hours is about being that global entrepreneur with regard to this huge global opportunity which is let’s change the world.
It’s like moving from coal to steam, steam to mechanization, mechanization to electronics, and now we move into the digital age and we’re in it. What a fantastic place to be.
So, how exactly do you do that? Do you just wake up earlier and just get everything done at 5:00 AM?
There’s never enough time in the day. What it is, it’s being super critical about what’s actually important. If you open your email when you get to work, I will guarantee that you will sit there procrastinating and jump between emails. Most people don’t work from the top to the bottom or the bottom to the top. You’re a little bit selective, so already you failed to do what people expect you to. Email and inbound inquiry are other people’s expectations of how to use your time.
They’re imposing their requirements on you. So, you’ve already allowed yourself to be managed by outside rules. You’ve got to arrive at your office with nothing that interferes with the creative process of why am I at this office? Why did I come here? I came here to understand what we’ve got. So, that’s a constant job. To work with the clever people that you have employed. I have a major role in employment and myself. Only employ smarter people than yourself, only. Because if you’re employing people that aren’t smarter than you, you’re going to have to tell them what to do and you don’t have time for that.
Now, employing people smarter than yourself, for me, that sets the bar quite low, that’s easy, so I get really good pickings. But, generally speaking, you need to employ the best people and get them going and then you’ll be so busy running around trying to keep up with him, not them keeping up with you, that you actually have no time for all that outside noise. You’ve got to impose on the world what you want, not the world imposing on you what they want. Turn it around.
Every time I have a conversation with somebody, it’s about what I want, in the nicest possible way. We will listen to inbounds but we already have a path to follow. If you start following other people’s paths, you’re not going to get where you want to go.
Here’s the thing. I’ve been a business mentor for probably 20 years.
Mentoring basically new CEOs. New CEOs, it’s the loneliest job in the world because it might be your first CEO job, so you can’t talk down because those people below you expect you to be the boss, so you can’t ask them. You can’t talk up because you’re the CEO. It’s no good asking the board, they’re looking down at you. You can’t talk sideways because they’re your competitors. So, the first year or two as a new CEO is the loneliest place on the planet.
So, what you have to do is be entirely focused on what you need to get done and that is by changing what you used to do before you became a CEO or a boss. What you used to do is respond to every bit of noise that came at you and it filled your day up until you went nutty.
Thank you! Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm
CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.

Alex Moskov

Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.
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FunFair - An In-Depth Analysis (Updated April 25th)

FunFair has been up to a lot of things, and thus, the post made a few months ago is quite outdated. I’ve written this just to keep the subreddit updated, and to have a nicely formatted post full of information regarding FunFair for both newcomers and “veterans”. This post will be updated more often than not, and when the time comes for a new one again, it shall be written! Cheers.

What is FunFair?

FunFair is a decentralized gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels (Fate Channels) to deliver casino solutions with state of the art games that are fast, fun, and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. Being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.

Why was FunFair created?

There are many costs, headaches, and complications with online casinos. Briefly, they are the fees associated with operations (servers, infrastructure, large employee-base, fraudulent activity investigations, chargebacks) etc. Attracting players and gaining their trust comes afterwards, which is another issue within itself. There is a blatant trust issue with conventional online gaming that FunFair aims to diminish, while creating a seamless experience for both operator and player.

The Market.

Online gambling is a large market: Currently over 47.1 billion dollars in market volume and projected to continue increasing quite exponentially. FunFair is also attempting to capture a new market of casino operators and players that aren’t currently factored into this estimate.

The Team.

The FunFair team consists of 40+ developers, industry executives, and professionals. They have one of the largest teams in cryptocurrency. Feel free to check them out on their website: https://funfair.io/how-it-works/our-team/
Notably, the first five employee profiles presented on the website are:
Jez San OBE, Founder, CEO
Jez San is a British technology entrepreneur and investor whose pioneering work in the field of real time 3D computer graphics led to being awarded the OBE for services to the computer games industry.
Jez founded Argonaut Software in his teens and designed the first chip used to power 3D games including multi-million-selling Star Fox, Harry Potter and Croc. He also founded 3D online poker room PKR and microprocessor developer Arc International.
Since 2013 Jez has been an active investor in the blockchain and cryptocurrency sector. His investments include Google’s DeepMind and online cryptocurrency exchange Kraken.
Jeremy Longley, Founder, CTO
Over 15 years’ experience managing technology teams – from the development of advanced video-game software through to the deployment and operation of enterprise-scale infrastructure.
Oliver Hopton, Founder, Developer
Oliver Hopton is an experience developer and team lead with over 15 years experience building gaming products. He spent 10 years working at online poker room PKR as Software Development Manager working on a huge variety of administration tools and integrations with 3rd party gaming content and providers. Heavily involved in technical compliance for gaming license applications in Guernsey, the UK, France, Italy and Denmark.
He then spent 18 months as CTO of EveryFan, responsible for architecting and building a UK facing sports betting product.
David Greyling, COO
David has more than 20 years’ experience in E-Commerce related organisations. In his role as COO, David is responsible for leading the business development, strategy, operations, finance and corporate functions.
With extensive leadership experience in Digital marketing and E-commerce international companies, David specialises in leading business integration and transformation programmes.
Prior to his current position David was Director of International for William Hill PLC, reporting to the board on market expansion, regulation and strategic change management programs.
Stefan Kovach, Business Strategy and Marketing Consultant
Stef is an industry executive with with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party - two of the biggest brands in online gambling.

Career Opportunities

Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring developers, business and marketing professionals, and so forth. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
Some of the positions currently offered in the United Kingdom, England, London:

When did they start the project?

Technically, FunFair started on June 22nd, 2017, because all FUN tokens that will ever exist were created on this day. However, the idea, technology, and product were being developed before the ICO started.

What have they accomplished to date?

FunFair have accomplished a lot since their inception- consistently updating development, business operations, and hiring many new staff. From Sponsoring DevCon 3, receiving awards from the Malta Gaming Awards, excellent showcase updates, and launching their product to the gaming industry at the International Casino Exhibition which boasted over 30,000 industry attendees, they have been on track to their public release. With the release of the closed beta right around the corner, the future is bright for FunFair.

Ok, so what is the technology? What are they developing?

FunFair is building their decentralized platform and protocol on top of Ethereum’s blockchain. FunFair is developing the game technology, and their proprietary, advanced state channel technology which they call Fate Channels. The platform that FunFair has created and continues to develop, will allow anyone to run a casino in just a few clicks, allow third party developers to distribute and integrate their own games to a new, global audience, while creating the ultimate casino experience for end users.
Fate Channels are FunFair’s custom, proprietary version of State Channels. They are superior technology to current State Channels, as they are what support the communication during game sessions between player and casino, while executing entire game logic and random number generation off-chain. They provide a fast, low cost method for RNG, starting game sessions, ending them, and settling with smart contracts on the blockchain. There is only one gas fee needed to start the game session, which solves scalability issues with platforms like Ethereum.
For an in-depth explanation that you won’t be disappointed in reading, please refer to the technical white paper here: https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf

What really happens in the Fate Channels?

FunFair’s random number generation is executed within the Fate Channel, and is a commit/reveal scheme that makes it provably fair. There are also a hash chain to prove that the overall sequence is indeed fair.
A player enters a FunFair-powered casino with some FUN tokens in their wallet, and then both the casino and player send FUN tokens from each of their personal wallets into a smart contract which then holds the FUN in escrow via the Fate Channels (off-chain) until the player cashes out/closes the channel.
The player and casino swap random seeds that they have generated locally, and these are then hashed numerous times by both parties in private. The sequence of hashes are stored locally by each party. There could be thousands of hashes, which become the random numbers, and are passed one by one, in reverse order, by the casino to the player and vice versa when the game needs randomness. Since the hashes are in reverse order, a new hash will always hash into the previous one, so that it can be verified that it’s the correct value of the next hash. The first hash is committed in the state channel on the blockchain as it was opened, and this is what will be used later to reveal that the random number generation was correct.
The position that a ball lands on in a roulette spin, for example, is computed this way. The two hashes provided by both player and casino are combined into a random number that neither side could have predicted. It’s provably fair because because it can be shown that they come from the same hash chain in the correct sequence, and it can be shown after the game session is over, using the reveal to show the seed was in fact, committed to the blockchain in advance of the games played.
The random number generation scheme works extremely fast, and is not dependent and waiting on the blockchain for verification every time, yet it is provably fair in both randomness and sequence. It is easy to detect cheating by either side (for instance, the random number generations would go out of sequence). The security of the hash chain is what makes the randomness unpredictable. If it is possible to reverse a hash, you could predict the random number generation. FunFair uses SHA-3 for hash generation, which has not been reversed yet, and is likely to last in strength for some decades.

The platform.

FunFair presents its casino operators and players with a gaming opportunity never seen before:

The games.

FunFair is pursuing a full suite of traditional casino games:
You can test all of these games, right now at https://showcase.funfair.io . Some are currently testable on the Ethereum test networks.
Regarding mobile functionality: A number of mobile dapp browsers are being built (ciphestatus) – FunFair support these. Their games are built with technology that works in mobile browsers.
FunFair is one of the only projects in the cryptocurrency space that has a working product.

FunFair’s vision for the future- an updated roadmap for 2018:

FunFair’s writeup of the updated roadmap can be found here: https://funfair.io/updated-funfair-roadmap-explained/
The roadmap can be found here: https://funfair.io/latest/roadmap/
Q1: In January, the team submitted to the UK Gambling Commission their application for a Remote Gambling Software License.
February 6th-8th,
Official launch into the gaming industry at the ICE (International Casino Exhibition).
Read FunFair’s written re-cap here: https://funfair.io/ice-2018-round/
Watch FunFair’s video round up here: https://www.youtube.com/watch?v=zEjC3_5Q5jA
March 8th-10th,
EthCC Conference.
FunFair CEO Jez San gives a presentation on FunFair platform and protocol to Ethereum community in Paris.
Watch the video here: https://www.youtube.com/watch?v=irpu2iHDiK0
Q2 Goals:
April 2018
May 2018
May 15th - 17th,
G2E Asia - launch FunFair brand to Asian gaming market
Website: https://www.g2easia.com/
May 16th - 17th
Consensus and Token Summit in New York
Networking and updating community
Website: http://tokensummit.com/
May 23rd - 24th
Disruptive Online Gambling conference (London)
Exposure to UK gambling industry
Website: http://www.arena-international.com/gambling/
Q3 Goals:
Q4 and beyond:

Some Information Regarding Casino Operators:

Casino operators will save significant money on hardware, chargebacks, and operational headcount. The number of physical servers required is reduced as gameplay executes in immutable smart contracts deployed to the ethereum network.
An operator will, at all times, require a reserve of FUN tokens to ensure they are able to accept bets, and cover their liabilities. If, after a period of time, they wish to convert some of their FUN token balance they will have a number of market exchanges which are capable of facilitating this type of transaction.
FunFair is working on the many customization options right now and up until release. You will definitely be able to customize the look and feel. You can add your own graphics, logos, colour schemes, etc. You will also be able to choose which kinds of games are offered, and how they will be laid out.
FunFair fully supports KYC. They’ve built their own KYC technology that’s crypto-friendly. FunFair’s tech will allow each operator to have their own policies on who they exclude and whether they require KYC/AML etc.
A reminder, FunFair isn’t an operator, it’s a technology that operators use, and some will be in countries where they need to do KYC/AML and some will be in countries where they don’t. FunFair’s tech works for all cases and will support the full strength KYC if that operator requires it.
Lots of information can also be found on the website. Here are some excellent links:

The Past, Present, and Future of FunFair..

FunFair has been consistently networking, and the team have been continually attending blockchain conferences and events. From launching their product to the gaming industry at the International Casino Exhibition in early February, launching their product to the Asian market at G2E Asia, and just recently announcing their industry first game development partner; Spike Games, FunFair is advancing very well, on track and ready for industry disruption.
For questions that you may have think I've missed, please refer to this updated FAQ on the FunFair website: https://funfair.io/frequently-asked-questions/#the-fun-token
TL;DR - Readthewholething
submitted by usuallyrealistic to FunfairTech [link] [comments]

Are regulators ready for blockchain innovation?

The following was contributed by us and published on EGR.com

James Harrison, FunFair’s corporate strategy advisor, analyses the UKGC’s “lukewarm” approach to blockchain after the firm withdrew its UK licence application
As an industry, we’re good at talking about innovation but it’s fair to say we have a patchy record when it comes to embracing cutting-edge technologies in recent years. We’ve tended to do just enough, and just in time, to ensure betting and gaming as an entertainment form remains relevant to the masses.
The latest of these potentially game-changing innovations is blockchain. We’ve seen the initial crypto hype bring about the first steps of mainstream understanding, but most industries have lacked the relevant use cases that have allowed for mainstream adoption.
However, with increasingly tightening player protection and responsible gambling legislation coming to the fore of late in established markets such as the UK and Australia, blockchain seems to be gift-wrapped for those not just looking to expand revenues where they’ve faced squeezed margins, but also to demonstrate to the regulatory bodies managing them that they can position the player as the primary priority.
FunFair, one of the largest and most credible blockchain projects in gambling, has looked to push this agenda to various regulatory bodies with mixed results to date.

Suspicious minds

As with any new technology in an established market, it’s perhaps understandable that there will be suspicion from incumbent stakeholders, but this often leads to risk-averse approaches that can stifle innovation, and in the case of blockchain, this has seen some regulators taking longer to appreciate its benefits than others.
The Malta Gambling Authority, for example, prioritised its fast-tracking, with the introduction of the blockchain sandbox and ‘Blockchain Island’ rebrand, along with support from leading government officials and an open-arms approach to blockchain as a key player in the future of a successful gaming industry.
Gibraltar is heading in a similar direction. The gambling regulator is looking to facilitate the use of blockchain for gambling in a similar way that the new distributed ledger technology licences allow for financial service business in the jurisdiction.
In the UK however, the Gambling Commission has seemingly offered a lukewarm reception to blockchain. At a recent briefing to industry lawyers they raised concerns around KYC and AML controls on the use of cryptocurrency, valid in my opinion. Perhaps more controversially though, they provided some doubt on whether they would accept operators positioning key equipment on the blockchain. While the former, already anticipated by Funfair, is not overly challenging, to mitigate the latter would prohibit almost all of the envisaged uses of blockchain gambling technology in the UK.
To give it its due, the Commission did commit to providing more substantive guidance in “the coming weeks and months” but this was caveated with the explicit adjoiner that they would not provide a blueprint for blockchain compliance with existing regulation.
Companies like FunFair, who have frequently stated their desire to be a good actor in this space, actually crave regulation and regulatory frameworks that allow for flexibility when it comes to use of a revolutionary technology such as the blockchain, while still upholding the core licensing objectives of player fairness, player protection and the active avoidance of any criminal activity related to gambling practices.

Missed opportunity

It seems a missed opportunity on the Commission’s part that it hasn’t looked to establish the sort of project analogous to the MGA’s, especially considering the generally blockchain-friendly wider UK regulatory environment as evidenced by the Financial Conduct Authority’s sandbox.
The player-focused advantages that blockchain brings surely merits some effort by the regulator to explore how the existing regulatory regime could adapt to it. It takes player protection to a new level, allowing players to hold full control of their wallets, while ensuring ‘provably fair’ means just that, with a record of all gaming events held, immutably, on the blockchain.
A more sceptical approach, while understandable from a regulator under pressure, could dissuade blockchain projects from looking to establish themselves in the UK which is a pity given the very real threats to the UK’s position as a innovation hub post-Brexit.
The team at FunFair are reluctant to go into detail about what is, after all, a privileged application process. What you can infer though, is that UK consumers are in the medium term at least, unlikely to enjoy the benefits of guaranteed fairness and self-custody of funds that a FunFair-style implementation of a blockchain platform would bring.
Suffice to say, FunFair will continue to actively engage with all relevant regulatory bodies, in order to achieve licensure in top tier jurisdictions as soon as appropriate legislation allows.
submitted by FunFair-Edwin to FunfairTech [link] [comments]

CasinoCoin - Why I went (mostly) all in [OPINION]

I first heard about CasinoCoin through a guy I work with back in January, who got wind of the rebranding/coin swap happening. He told me he bought over a million coins which piqued my interest as I figured he must have a lot of faith in this coin! I was following reddits cryptocurrency subreddit closely and there was never any mention of it (at the time I was following all the big news altcoins like TRX, REQ, IOTA etc) so I asked him to send me some links around it so I could do more research. After reading some articles and googling around for information I was more than comfortable to make CSC my main investment as it really is getting in on the ground floor on something truly amazing. I know a lot of people hype about various coins but here's the facts that drove me to go mostly all in on CSC:

1) Huge wealth of experience on the board of trustees/advisors

If you take a look at the board of trustees and the board of advisors you will see there are many people who held or still hold high positions in hugely successful companies in the gambling world. John Caldwell (Director of Advocacy) is a veteran of the online gaming industry who was instrumental to the success of PokerStars.com , Ashish Tawakley (CCO) worked at Betfair for almost 8 years, and on the board of advisors there are people like Lydia Barbara, Head of innovation strategy at Microgaming, the largest software gaming company in the world, and Lee Fenton, CEO of Gamesys. In short, there is an absolute goldmine of experience in the gambling world at the helm of CasinoCoin. Which leads me to my next point...

2) Huge connections on the board of trustees/advisors

Along with experience comes connections, especially seeing as the board members hold very high positions in their fields. I've already mentioned a small fraction of the huge companies involved with CasinoCoin, and with this network they are at a huge advantage of getting adoption of CasinoCoin quickly, widespread and with big name casinos/operators.

3) Regulation at the forefront

CasinoCoin is, by their description, "a digital currency, like Bitcoin, or Ethereum, that is designed specifically for the regulated online gaming industry". Their features and tools have been customised to meet the needs of users, operators and regulators. Back at the ICE 2018 expo in the Isle of Man, CasinoCoin was a featured partner of the Isle of Man Government and now CasinoCoin is running in the Malta Gaming Authority sandbox with an undisclosed live operator and processor on the live CSC blockchain with real gamblers. The fact that they are doing things "by-the-book" is a great comfort in the crytpo world where a lot of companies are getting into trouble because of government regulations etc. They also did not hold an ICO, which means they won't face what other companies are facing due to recent regulations on holding ICO's.

4) Genuinely good use case

The use case is well explained in their video from their website. CasinoCoin's codebase is forked from Ripple, with tweaks geared towards the regulated gambling industry (meaning it is its own coin/blockchain). The codebase and setup mean the transactions take only seconds to complete, and the fees are tiny (0.01 CSC). But CasinoCoins killer product is the Bankroll Manager (BRM). At present, each casino platform has a know-your-customer (KYC) onboarding process of submitting official documentation etc to prove who you are as a person, they also need to deal with anti money laundering (AML) and provide responsible gaming options. As gamblers, having to go through the KYC process alone for each platform you visit is a headache, and the process of cashing out can take days. The BRM will solve all of these issues. The CSC foundation has partnered with Jumio (a KYC service provider) to provide KYC as a built-in feature of the BRM. So gamblers will go through the KYC process only once and the BRM then shares that information with each Operator as the gambler interacts with them. The BRM also has AML measures rolled in with all transactions written to the blockchain, and features responsible gaming options. Sending CSC to/from the casinos will take seconds instead of days, and gamblers will be able to buy CSC with fiat and sell back to fiat (i.e. cash out) through the BRM. Which leads me to my next point...

5) The volume/price of CasinoCoin will be mostly driven by gamblers/platforms rather than traders

At present, the prices and volume of most coins on the market are driven by traders buying/selling them on exchanges. When the BRM is released, while CSC will still be tradeable, gamblers will use the BRM to buy CSC which they will send to the platforms to play, and the platforms will buy large quantities of CSC to have on their platforms for prizes etc for gamblers to win. The means that the price and volume of CSC will be mostly driven by both gamblers and platforms rather than traders buying/selling it.

6) Team with more focus on the product rather than hype

The entire team at the CasinoCoin foundation have been putting most their effort into creating their product and getting the ball rolling on partners for the BRM rather than creating hype and speculation about possibilities to drive the price up. Community Relay Nodes (CRNs) are being actively developed to help add some decentralization to the network. Plus, their BRM is due to be tested in the MGA sandbox along with a "yet-to-be-named" operator and processor who have officially submitted their intent to partner with CasinoCoin when the test concludes. This means they already have a real-world use in the pipeline, it is only a matter of time when it is all officially announced and released, and at that point the foundation will shift into full promotion mode with a fully working product with a real-world partner, which is when CasinoCoin will rocket.

7) Incredibly cheap to buy right now

Right now, we are effectively on the floor. I bought in January when it was at 5 sats and it's had a few waves over the months but its back way down to 6/7 sats (if you’re lucky maybe a 5 sat!) and what’s more BTC is way down so you can get more BTC for your buck these days, so even for a token $10 can get you about 0.0016 BTC, and at a 5 sat buy that’s 32000 CSC! I have been filling my bags with spare cash over the months and it really does add up. I don't expect these prices to stay this low forever as the main reasons it is low is due to being off many peoples radars due to a lack of promotion, and the exchanges being generally unknown and thus low volume. The foundation is actively working on higher volume exchange listings as part of their BRM so I've taken it as an opportunity to get in before things really take off.

8) No other gambling related coin is doing what CasinoCoin is doing

I've looked around and to be honest I haven't found any other gambling related coin doing what CasinoCoin is doing. For one thing, most other coins like Funfair, Edgeless, Decent.bet etc are in fact entire casino platforms with their own games etc running on the blockchain, which itself is a good idea but they all have their own tokens on their own platforms. CasinoCoin isn't a platform, its simply a payment solution that can be slotted into existing platforms (in fact it can even be used on the other crypto platforms casinos!) which is why it has a major advantage over the others. It is keeping things simple and solving real-world problems with existing gambling sites, it won't be reinventing or taking over existing casinos, it will be enhancing them.
In summary, all these points combine to make a really compelling argument in favour of CasinoCoin. It has a bright future ahead of itself, with a great product, a real-world use and all the right connections to make it go far.
TL;DR: I guess just read the numbered title points for that :P
EDIT: some useful links:
CSC Chat
Official Website
EDIT2: After speaking to some people about the comparison with other gambling coins it reminded me I forgot to add one point! I made this in a comment in another post but I think it deserves a spot here too (see point 8)
submitted by TheKeiron to casinocoin [link] [comments]

Ganapati Launches New ICO

Ganapati Launches New ICO
https://preview.redd.it/9t0vvfar93911.jpg?width=760&format=pjpg&auto=webp&s=10e453a4e2b04a2de8562fed2d70d88645595ef4
Ganapati Group has announced the creation of an ICO with their subsidiary company GanaEight Coin Ltd. in Malta on Saturday, July 7th 2018. These tokens (G8C, G Eight C) can be used in online casinos.
Ganapati PLC, the parent company of Ganapati Group, is listed on the UK NEX Exchange market. It also has subsidiaries and offices in Malta, Estonia, Los Angeles and Curaçao. Ganapati’s subsidiary company in Malta has an online casino license (BtoB license) issued by the MGA. Ganapati Malta supplies unique online slot games that combine Japanese content with traditional European iGaming experience. Ganapati has become an international hit and received 4 gaming nominations within the past 2 years. These include a finalist nomination for Pikotaro’s Pineapple slot game as best casino product in the prestigious Global Gaming Awards 2018 in London. At UK’s largest casino industry event ICE Totally Gaming in 2018, the company was chosen as one of the 10 must see companies in the industry.
Malta is one of the world’s leading hubs for online casino and cryptocurrency businesses. The law allowing cryptocurrency has recently been approved thus Malta is expected to become the land of blockchain. This means that promoting cryptocurrency in this country is a major advantage. Recently, some of the leading cryptocurrency exchanges such as Binance have relocated their head offices to Malta as well.
The biggest feature of GanaEight Coin Ltd. token is that it can be used on its own blockchain to bet and play. It does not require GAS (transmission fee) and it’s not necessary to exchange tokens for chips. It’s likely that most online casinos will be using blockchain in the future. We are developing an online casino platform based on proprietary blockchains that blend our unique IT technology, knowledge of finance, Japanese content, casino experience, and knowledge in the online casino industry.
Pre-sales are planned to be launched in Q1 of 2019. After the announcement of this project, details will be revealed as they are decided.
Source
submitted by W12io to u/W12io [link] [comments]

Malta-based companies currently hold the largest market share of the UK online gaming market, accounting for close to 30% of the total, with the industry exploding since the introduction of the tax rebate system. Betting Connections is a leading provider of international iGaming recruitment solutions and ongoing career advice. Founded in 2010, we have enjoyed steady growth since we opened our first office in Sliema, Malta. Find out more about us. Betting on football is big business for betting companies and now the competition is so high that only the best betting sites for football offer a range of features for their customers. One of the absolute musts for any potential football punter is live betting and live streaming. The Betfred journey to becoming one of the biggest independent betting companies in the UK is more heart-warming than most others. Established from a single shop in Salford by Fred an Peter Done in 1967, the group now have a multi-billion turnover and up to £1 billion in revenues annually. In 2015, betting giant Ladbrokes merged with Coral to form the largest betting company in the United Kingdom. This new partnership saw them become bigger than the reigning big gun, William Hill . In general, we can say that biggest gambling companies in the world are mostly based in the United Kingdom.

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