CoinGeek: Will Trump’s Crypto Promises Become Reality?... Plus BC.Game Complaints Not Exactly New

Written by:
C Costigan
Published on:
Nov/28/2024

  • Trump's crypto vision could create environment where the industry thrives.
  • BC.Game troubles a long time in the making.
  • UK levies and restrictions on online slot machines stakes.
  • Steelers-Bengals total too high?

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Gambling News

Will Trump’s Crypto Promises Become Reality?

There's been a great deal of speculation in regard to President-Elect Donald Trump and his administration going all-in on crypto.

Sounds good on the surface, but we are sure there are those who believe government getting in bed with crypto could ultimately destroy its intended goal. 

It's a question recently tackled by Patrick Thompson of CoinGeek.  Thompson appears bullish when it comes to the Trump Administration's plans.

Recently, President-elect Donald Trump mentioned that his administration was “considering creating the first-ever White House crypto role” and that they were actively vetting candidates for the job—which may be directly related to the meeting Trump had with Coinbase (NASDAQ: COIN) CEO Brian Armstrong. If the White House does choose to create a crypto role, the individual would be responsible for managing the relationships between Congress, the White House, and other government agencies concerning their jurisdiction, policies, and regulations regarding cryptocurrency.

If this White House crypto role does come to fruition, I’d expect it to be the equivalent of having an internal champion for the industry in the highest government office in the United States. I would think that the individual in this role would partially play the role of a lobbyist, persuading lawmakers, regulators, and other public officials to either support or oppose specific policies, bills, or regulations that would affect the digital asset industry. Based off the Trump administrations tone and attitude toward crypto so far, the individual in this role would most likely be making efforts to move the industry forward.

Trump has also said that he would set up a Bitcoin (BTC) strategic reserve once he is in the White House and that it will be the job of the crypto advisory council he plans to create to set this reserve up. A strategic reserve asset is a physical asset that a country’s government stockpiles as a sort of safety net or emergency ration that can be dipped into during severe market disruptions or unexpected events—for instance, the United States has a Strategic Petroleum Reserve that can be used during global oil-supply emergencies.

If or when BTC becomes a strategic reserve asset, it means quite a few things for the market and is bound to have an economic impact. For starters, it means the United States government will need to begin accumulating Bitcoin, putting demand pressure on the limited supply of 21,000,000 coins, of which roughly 19,787,340 are already in circulation.

Either way, if BTC becomes a strategic reserve, a government backstop will effectively be put into place on the BTC network. This means that if all else fails, market participants would at least know the government has money tied up in this thing and therefore has somewhat of an incentive to prevent anything devastating from happening to the asset. I’ll also add that when the government holds an asset, or, better yet, declares something a strategic reserve asset, the asset will start to obtain perceived value beyond its true value. This is because the government is verifying/validating that they believe said asset has value to the point where it can help them or the world out in emergencies. This perceived value and narrative will become a sticking point in arguments. It will be a “fun fact” that can be whipped out in conversations and effectively a point that is used to strengthen the argument that there is an upside to be had in BTC and, therefore, a case for adding BTC to a portfolio.

He adds that key appointments in the White House favoring the growth and innovation within the space demonstrates that the Trump administration appears to be positioning itself to create an environment where the industry can thrive.

There is little doubt the "Trump Effect" is benefiting the price of Bitcoin and other cryptocurrencies.

Gambling News

BC.Game Troubles Long Time in the Making

Gamblers wait on pins and needles wondering if they will be paid by BC.Game following word that the Curaçao Gaming Control Board (GCB) will withdraw the license of Small House BV, trading as BC.Game (if it hasn't done so already) due to questions about its finances and compliance with regulation.

Many will be impacted if BC.Game were to become insolvent.  An estimated 2 million plus have played there and it is unknown how many are active and the amount of money held in accounts.

The situation is made worse by the fact that Leicester City has a shirt sponsorship deal with BC.Game that likely brought in an untold number of customers to the troubled gaming company.

Leicester City say they are “in regular discussions” with its sponsor and were assured BC.Game would live up to its nearly £30m contract, as if that's going to provide any type of solace to gamblers.

“We have been and continue to be in regular discussions with BC.Game with regard to an active legal case in Curacao,” a club spokesman told City AM.

“BC.Game have provided the Club with the strongest assurances that they are actively appealing this case, and that the process which has been initiated in Curacao is administrative in nature and has not arisen due to any concerns with their financial standing.

”BC.Game have further assured us that they have no issues with liquidity and that they remain fully committed to meeting their ongoing contractual and financial obligations, including to the Club, and that this case will not impact on BC.Game’s continuing international operations.”

One only needs to read the CasinoMeister forum topic entitled "WARNING BC.Game, lots of complaints but no resolutions" to understand the extent of the issues surrounding this gambling company.  That forum discussion begins in early August.

But it's far worse as a moderator started the topic with "Over the last year or so we’ve seen quite a number of complaints regarding BC.Game, both through our Player Arbitration (PAB) process and on the forums directly."

It continues...

Bc.games has turned into the biggest scam ive ever seen. - Casinomeister Forum​
BC.game and its withdrawal issues. - Casinomeister Forum​
BC.Game SCAM - Casinomeister Forum​
Venting -- Bc game fake - Casinomeister Forum​
etc etc​

As you will see in those threads most of the problems are of the slow-pay/no-pay variety. In the cases where a player has come to us with their issue — usually after being blown-off and/or ignored by the casino — BC.Game simply ignores it by saying the same thing over and over:

“… we kindly request that you direct the customer to contact us directly for further assistance. We believe that addressing the customer's concerns firsthand will allow us to provide the most efficient and effective support possible. …"​

In other words “we ain’t talking so talk to the hand”. End result: player’s issue goes nowhere because the casino’s “firsthand assistance” just takes the player back to square one which, as mentioned above, is "being blown-off and/or ignored”.

WARNING: BC.Game is giving a lot of players the slow-pay/no-pay treatment and ignoring any attempts by players to seek outside assistance. Players are advised to forgo the nonexistent “firsthand assistance” the casino will inevitably claim to offer and take their money elsewhere.

The only positive here is that the site remains active.  Albeit that's not necessarily a positive based on these reports.

The BC.Game feed remains quite active on X (formerly known as Twitter).

Gambling News

UK Introduces £5 Online Slot Betting Cap and Statutory Levy to Tackle Gambling Addiction

The UK government has revealed plans for significant changes to gambling regulations in an effort to combat gambling addiction. Among the most notable proposals is a new set of restrictions on online slot machine stakes, with limits on how much players can bet. The new rules are set to apply for the first time ever: a £5 maximum bet per spin will be introduced for adults aged 25 and over, while those aged 18 to 24 will be limited to £2 per spin. The government is also rolling out a new statutory levy on gambling companies to fund addiction treatment programs, marking a significant shift in how the industry will be held accountable for its impact on public health.

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NFL Betting

Steelers Bengals Total Too High

From the Post-Gazette:

Over/under: 47.5

Trends: Big bettors are showing greater interest in the under, which is drawing 38% of the cash in the market on 26% of the wagers. ... The over has cashed in five of the Steelers’ last six games. ... Just three of the last 17 meetings have gone over a total of 47.5 points.

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By  Chris Costigan

Chris founded Gambling911.com in 1999 and serves as the website's publisher.  He brings more than 3 decades of expertise related to the gambling and sports betting sector.  Creative talent is in Chris' genes, which he brings to the G911 website.  He comes from a showbiz family that includes Yankee Doodle Dandy George M. Cohan.  Chris is the grandson of artist John E. Costigan, whose work appears in the Smithsonian.  Chris' father was also in the news business and co-founded what is today the Union County Performing Arts Center.  Chris is a graduate of Kean University. 

Gambling News

Notre Dame is Giving Bookmakers Agita

The Fighting Irish are hoping to lock down a first-round home game in the College Football Playoff, but their spot in the 12-team postseason field seems secure no matter what happens here.

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