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EOSBet acquires Master Gambling License; becomes first on-chain blockchain casino

Namrata Shukla

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EOSBet acquires Master Gambling License; becomes first on-chain blockchain casino
Source: Unsplash

EOSBet, a popular decentralized gambling application, announced on Friday that it secured accreditation from Curacao, which in itself is one of the world’s oldest online gambling regulators. Curacao is one of the handful of companies to be granted a Master Gambling License from the State’s Ministry of Justice, reported Cryptovest. This license provided to Curacao enables it to sub-license other gambling platforms.

EOSBet smart casino is an on-chain gambling decentralized app made to tackle problems like lack of trust and transparency, costly fees and, high-house advantages on the centralized online gambling platforms. On EOS’ platform, players gamble EOS in baccarat game or dice-throwing game and the platforms which enable players immediate transaction times, zero fees and almost zero latency fees. The platform has a betting volume of over $5 million, making it the top-rated dApp on the EOS network, according to the report.

The platform claims to be the first community-driven casino as it allows holders of their native bet token to get immediate rewards in EOS from the platform’s profit. The payments are distributed proportionally, depending on the number of bet tokens possessed by each holder. EOSBet paid a total of $1 million to the token holders within 2 months of going live.

EOSBet manager Frej said:

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

The platform, after running on beta mode for the past three months, in order to expand their team, worked towards acquiring the license. The license provided by Curacao enables to the platform to operate all forms of interactive gambling. Along with this, the platform has announced a new game and a complete redesigning of the website is underway.





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