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EOSBet becomes first On-chain Gambling Casino; receives Gambling License from Curacao eGaming

blockmanity.com 02 December 2018 06:25, UTC
Reading time: ~2 m

On 30th Nov, one of the most popular on-chain gambling dApp, EOSBet declared that it had received an Online Gambling License from Curacao eGaming which is one of the most established and respectable online betting controller.

EOSBet, which is the Decentralized crypto-casino, built on the EOS blockchain, became the first open-source casino to acquire an Online Gambling License.

Frej from Marketing at EOSBet said,

“We’ve worked relentlessly to make this license succeed, and we will continue to strive to be the standard for smart casinos.”

Curacao eGaming is a gambling regulator based in the Caribbean Sea and is one of the four Master Gambling License Holders in Curacao, issued by the states Ministry of Justice. It has exclusive powers to sub-license other gambling platforms.

Reasons for EOSBet development

The reason behind the formation of EOSBet is that centralized betting games have a few sorts of issues like the lack of trust, high commisions, and non-transparency and so on. To solve these issues, EOSBet has been developed on EOS Blockchain Platform that allows instant transaction without any fee.

EOSBet allows gamers to bet their EOS tokens on either a dice throwing game or a baccarat game which exclusively designed. Also, it allows the native BET utility token holders to get instant rewards in EOS, from the total profits made on the platform. These rewards are estimated and divided based on the number of BET token holders have. By doing so, EOSBet is setting up itself as the first ‘community-driven online Casino.’

As per the report, by the end of the October month, EOSBet had paid a dividend of 1 million USD to native BET utility token holders.

Achievements of EOSBet

Exclusively designed games and features like instant transaction, instant rewards made this crypto-casino one of Top-rated dApp on the EOS network which is currently encountering wagering volumes of over USD 5 million.

Moreover, on 24th Nov, EOSBet Casino declared that its upcoming game is in its final testing phase and will announce about it soon. Also, the frontend of exclusively designed Baccarat game is updated.

Image Source: Unsplash

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