Warning Against Online Gambling Sites Bearing Initial Coin Offerings

Written by:
Guest
Published on:
Dec/05/2017

Vancouver-based FansUnite is the latest site hopeful of accepting real-money wagers starting next year via a proprietary digital currency it’s calling the FansUnite Token (FAN).

The CalvinAyre.com website warns to be careful of gambling sites looking to get into the Initial Coin offering space.

With the value of Bitcoin soaring, initial coin offerings are breeding like rabbits, yet the real-world value of these alt-coins remains suspect, as does the motives of some of the individuals announcing these ICOs.

Ask yourself one question: what value is a coin that you cannot spend anywhere except some theoretical future online sportsbook put up by guys with no experience in creating or running an online sportsbook?

If FansUnite was truly sincere in its desire to offer customers quick and simple money movement, all they need to do is incorporate a Bitcoin Cash (BCH) payment option, as an increasing number of existing, proven online sportsbooks have already done.

FansUnite says it intends to hold a Token Generation Event, which is essentially an initial coin offering, that will allow customers to acquire FAN.  US and Canadian residents will be unable to do so however.

FansUnite will only allow sports betting for real money from those in the United States should the activity be deemed legal.  Hearings took place in the US Supreme Court this week to determine the fate of sports betting in the States.  A decision is expected by no later than June of next year.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Bitcoin: The Basics for Online Poker Affiliates

Bitcoin: The Basics for Online Poker Affiliates

Americas Cardroom answers all the important questions concerning the crypto-currency Bitcoin like What is Bitcoin?, Why use Bitcoin? And How does it work?  All this in an effort to encourage online poker affiliates to use Bitcoin for all their transactions with the long established Internet card room.

Blockchain Announces it Now Supports Bitcoin Cash

At Blockchain, we're passionate about building products you'll love and are always looking for new, meaningful ways to empower you to interact with the digital economy.

Run Your Online Sportsbook Business From Home Efficiently

Run Your Online Sportsbook Business From Home Efficiently

Online business has its goodness. But there are also challenges. While challenges are few than benefits, it is prudent to balance. The interesting thing is that you are not alone. Pay per head will help you.

MGM Gains 10% In Stock Market After Falling During The ‘Vegas Massacre'

MGM Resorts’ stock market value is up by 10%. The figure is from October 2, 2017, fall after the Las Vegas shooting that takes the lives of 58 people.

Ladbrokes Among 17 Firms Hacked by Cyber Crook Looking to Sell Details for Bitcoin

Ladbrokes Among 17 Firms Hacked by Cyber Crook Looking to Sell Details for Bitcoin

Grant West, 25, admitted illegally obtaining the details of Just Eat, Uber and Ladbrokes customers' accounts in a bid to sell them on the 'dark web' for Bitcoins.  Hundreds of thousands of customers were reportedly impacted.

Syndicate