More and more people are seeing any form of gambling as morally acceptable. In a 2009 poll by The Gallup, only 58% of people in the US seem to accept this industry. With an update for 2018, the percentage has raised to 69%.
There could be multiple reasons why people still have different opinions about gambling, whether it’s through the form of playing a casino game online or in any establishment or betting on any sports and games. Opinions could be formed because of a person’s religion, income, and race, and educational attainment.
The legalization of gambling could also affect how people see it. With more and more places all over the world taking steps to legalize any form of gambling in their area, people are becoming more accepting of this industry. In here are some note-worthy updates about the legislation on gambling all over the world.
Regulation of Online Gambling in Ontario, Canada
Any form of gambling was made illegal in Canada half a century ago and it was in 1969 when the provincial and federal government of the country were allowed to host lotteries. Then in 1985, each province was then allowed to legalize any form of gambling that they choose.
With all of those updates on Canadian law regarding gambling, there wasn’t really anything that targets online gambling until recently, when a press release from the Canadian Gambling Association [CGA] was spread.
With this, online gambling laws in Canada seem to be taking its shaped. CGA has noticed how much Canadians, particularly in Ontario, has been wagering on online gambling websites outside the country. More than $500 million are spent by the people of Ontario in gambling each year.
Because of this, CGA and the local government see the need to have their country put in place an online regulated system to allow their citizens to place wagers on any gambling sites safer. For now, the CGA is looking forward to taking part in the government’s planned dialogues with this industry’s stakeholders.
Pennsylvania’s Online Gambling Launch
Pennsylvania will be the fourth state in the US to launch and legalize online casinos. It was previously announced that PA online casino and poker servers should be up in at least the first quarter of 2019.
However, because of the recent DOJ interpretation of the Wire Act of 1961, the PA’s Gaming Control Board decided to delay the launch for a bit.
It is expected that most online casinos in PA will then be launched in mid-2019, where the earliest target date is in mid-June. This was as instructed by the PA’s Gaming Control Board, and they expect online casinos to comply.
For now, if you’re in PA but can’t wait to play online casino games, you can check the top betting sites online. There are some casino sites that can give you insights about the best casinos you can find on the web. This site will also let you know whether an online casino will accept bettors from your place.
Remote Gambling Bill in the Netherlands
Like a lot of European countries, the Netherlands is deemed lax when it comes to their laws about gambling in any form. However, before 2012, when it comes to online gambling, the Dutch community seems to be restricted about playing casinos online.
Back then, the Dutch people are allowed to place their bets online, but this was only through local servers, which at that time was limited. However, even if more and more websites are starting to get based in the Netherlands, there are still Dutch people who’re place their bets on foreign casino websites that go unnoticed.
Because of this, a bill was submitted to allow Netherland’s government to issue licenses to foreign websites and let them legally accept wagers from the Dutch citizens.
On the 19th of February, the Netherland’s senate placed votes on the Remote Gambling Bill, which already passed the Ditch parliament three years ago. The result was much anticipated and is now good news to foreign online casinos.
Sometime next year, the Dutch government will start to issue online gambling licenses to foreign casino websites and end the monopoly of online gambling in the country. Analysts shared that the process of issuing online gambling licenses might start in January 2021.
Next year may only be the start of application requests from foreign and local stakeholders. The only problem that some foreign casinos that may have to face are the “cooling period”. This is a proposal by the Dutch Minister of Legal Protection that would not allow operators who have been accepting bets from the Dutch citizens prior to the legalization for two years.
Recruit’s funding division, RSP, announces investment partnership with COTI blockchain enterprise.
Recruit, a Japanese-based investment enterprise with a $50 billion market cap, announced that its next major blockchain investment will be in COTI. COTI is a revolutionary, block-less and miner-less blockchain designed to solve many of the scalability issues faced by cryptocurrency. Recruit has established a blockchain specific Blockchain Tech Fund in response to the growing number of opportunities within the blockchain space.
What is Recruit?
Recruit is an international investment leader offering a stake in all stages of business investment opportunities across a variety of tech industries. The company has a particular interest in blockchain, fintech, robotics, AI, and business application services. Companies including BitFlyer, Shift, Udacity, and 99Designs have benefited from strategic investment partnerships with Recruit.
Recruit created its Blockchain Tech Fund specifically to address the enormous potential of blockchain technology. To support the unprecedented expansion of blockchain-based technological advances, a high level of support from traditional investment partnerships and business models is necessary.
The Recruit Blockchain Tech Fund provides rapid funding of auspicious blockchain technology projects. RSP funding is available throughout all stages of project development, from seed round through growth and expansion.
The Blockchain Tech Fund uses token fundraising to support new business model development in its investment partnerships. This strategy effectively promotes blockchain business expansion as well as mainstream blockchain adoption.
Appeal of COTI
COTI, or Currency of the Internet, offers a unique and promising solution to a global issue using blockchain technology. This issue is scalability.
Regardless of technological advancements, traditional blockchain structures have proven incapable of scaling to meet the needs of a global market. This is particularly true as blockchain expansion continues to move into mainstream business fields.
COTI is based on a Directed Acyclic Graph [DAG] protocol. This structure eliminates both blocks and miners, drastically reducing size and energy expenditure. According to COTI’s website, the platform seeks to provide transaction services at a lower cost than even fiat payments.
Using COTI, organizations can build unique payment solutions. By digitizing a currency of choice, payers and payees can save time and reduce the significant cost of transaction services.
Further bolstering its security capabilities, COTI stores funds in offline, cold wallets, safe from hacking and cyber attack.
COTI and RSP
As COTI and Recruit move toward similar end-goals, promoting and developing the expansion of blockchain technology, both companies recognize the potential for widespread blockchain benefit.
Shahaf Bar-Geffen, COTI CEO, stated,
“We’re pleased to have made it on the radar of the RSP Blockchain Fund and its larger mission of making leading blockchain projects known to the world at large. This is a notable accomplishment for COTI and further anchors our belief in the enormous potential of the technology market in East Asia.”
Blockchain industry stands to see tremendous benefit from this partnership, as both parties seek to further the expansion and growth of blockchain throughout the traditional business enterprise.
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