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It is estimated that more than half of the global online sports betting market is restrictive. This includes the USA, which in May 2018 opened the floodgates for legalized sports betting on a state-by-state basis. Nevertheless, entry into most states that offer sports betting or promise to do so is difficult if not impossible (i.e. Montana, Oregon, District of Columbia all have exclusivity contracts with a single provider while other states like Pennsylvania imposed a tax too high for most operators to see a profit).
With this in mind, sportsbooks looking to capitalize on such restrictive or "grey" markets have looked to Bitcoin and other cryptocurrencies. Use of cryptocurrencies can be done anonymously. Companies like JazzSports are leading the way by promoting anonymous accounts that only require a valid email account. Payments are through a virtual wallet using the blockchain. This means it no longer matters where the actual customer physically resides.
The problem is that, up until now, Bitcoin and other cryptocurrencies have not gained wide mainstream acceptance.
The good news is that around 66 percent of global organizations have some level of interest in blockchain, with nearly 10 percent currently in the experimentation or deployment stage.
Below we cover industries, companies, organizations and even countries that are looking to embrace Bitcoin or are doing so currently. The more the merrier. Some of this new could positively impact the online gambling world so it's important to monitor regularly.
ECB Wants Active Role in Bitcoin
(January 9, 2019) - The European Central Bank (ECB) wants to play an active role in the field of digital currency, said President Christine Lagarde. As the bank works on its own digital currency and an instant payment system, Lagarde emphasizes that “central bank initiatives should neither discourage nor crowd out private market-led solutions for fast and efficient retail payments in the euro area.”
“Creating a cryptocurrency [is] a legitimate task for the ECB,” said President Christine Lagarde. “Innovation in the area of payments is racing ahead in response to the urgent demand for quicker and cheaper payments, especially cross-border ones.”
US Presidential Hopeful Andrew Yang Big on Blockchain
(December 29, 2019) - When he is not crowd-surfing at presidential forums, Yang is campaigning for the use of blockchain technology in democracy and voting. The businessman-turned-2020 Democratic presidential candidate has made it one of his priorities to modernize voting and in doing so, integrating the use of the immutable, decentralized, technology of blockchain.
“Considering the advances in technology, there’s no reason why we should still be waiting in line at polling stations to cast votes. The machines being used in most locales are also as vulnerable to tampering and hacking as modern technologies,” Yang’s website states. According to the Heritage Foundation, there have been 1,217 proven instances of voter fraud. Most voter fraud is preventable with the implementation of blockchain technology, as the most common types of fraud are duplicate voting, false registration, impersonation at the polls and fraudulent use of absentee ballots. Yang’s website continues, “Americans should be able to vote via their mobile device, with verification done via the blockchain. This would dramatically increase participation in all elections, whether local, state or federal.”
Asian Nations Are Big on Blockchain
It’s not just China that’s issued a green light to blockchain, if not bitcoin: all across South-East Asia, officials have issued similar blessings, and crypto projects have eagerly stepped up to the plate. Last week it was Thailand’s turn to roll out the red carpet to blockchain, where Sharering’s digital identity system and blockchain infrastructure are to be used in the country’s new e-visa system. The system will be deployed for visitors from India and China initially, and should dramatically speed up airport immigration for millions of travelers a year. Blockchain initiatives of this nature are now a common occurrence in Thailand and Asia at large: in November, the country’s Excise Department announced a blockchain-based tax payback system, and in September, the Thai energy company PTT unveiled a blockchain-based renewables platform with the Energy Web Foundation. - Source: Bitcoin.com
Billionaire Predicts Bitcoin Nears $20K Again By Year End 2020
In his Bitcoin 2019 prediction, the billionaire CEO of Galaxy Digital had said Bitcoin will consolidate in the short term, dropping to $8,500, but the digital currency will reach its all-time high.
He said in an interview with Bloomberg:
“So we had a big move from $4,000 to almost $13,500. And I think we’re going to consolidate. I originally said $10,000 to $14,000 – $8,500 should be the low that holds. I’m hoping it doesn’t get down there, but if it does, it wouldn’t surprise me. And then I think, as these institutions that have gotten excited again, maybe towards the end of the year, hopefully sooner, we push out of that range and we go back to the old highs at $20,000.”
- Aaron Goldstein, Gambling911.com
