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EOSBet Becomes First Licensed Gambling Platform on EOS

Distributed Summary:

  • EOSBet becomes “the only open source platform on EOS and now the only licensed platform as well,” per project Medium post
  • Plans to airdrop BET tokens for use in its casino apps and teased exchange listing

EOSBet announced that it now has a fully valid license “to operate all forms of interactive online gambling” in a company Medium post.

According to the post, EOSBet has received an online gambling license from “one of the world’s oldest established gaming regulators, Curaçao eGaming.” It also published a press release offering additional details.

EOSBet is a “smart casino,” a gambling DApp that is already fully on-chain. As its announcement noted, it is not only “the oldest gambling [DApp] on EOS” but also “the only open source platform on EOS and now the only licensed platform as well.” It currently has two games available — a dice game and baccarat — and it allows gamblers to make wagers and receive payouts using a system of EOS and BET tokens.

The company has already seen major successes with its decentralized approach, giving “its users instant transaction times, near zero latency and zero fees.” Even without the gaming license, “EOSBet paid out over $1 million to token holders after only 2 months of the platform being live.” The gaming license is in the jurisdiction of Curaçao, a small Caribbean island republic with little influence over the U.S., so this license adds respectability, rather than a significant change in the site’s legal status in the U.S.

Still, considering that this board is such an established online gaming regulator, this stamp of approval is no mean feat. To this end, the EOSBet team announced that its DApp would involve several new features going forward. The platform plans to add “a new game, revamped Baccarat, a unified site, a fix for frustrating player resource issues, and a set token airdrop schedule.”

It will be airdropping large amounts of these BET tokens that can be used in the casino apps. This follows an ongoing airdrop project that gave away 400,000 tokens. These tokens can be acquired by betting on the DApp, but the announcement also included the teaser that EOSBet is in talks with several exchanges to list this token for direct purchase.

There is no concrete deal in place yet, but the Medium post teased that it is in “the application process with a Top 3 exchange.”

Regardless of how these deals move forward, the EOSBet team seemed optimistic following this initial release. With a legitimate legal presence in Curaçao, it will be impossible for the U.S. federal government to shut it down completely, enabling all sorts of partnerships with larger companies.

As decentralized casinos go, EOSBet is making positive headway.

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