Asia
QTech Games unveils new cryptocurrency currency feature for its games
Leading distributor continues its breakthrough work with crypto to underpin more games for clients across emerging markets
QTech Games, the leading games distributor across Asia and emerging markets, has unveiled its latest upgraded cryptocurrency tool kit which supports a unique crypto-to-game currency feature.
The leading platform is now able to arm its partners and their players with all the inherent crypto benefits of lower transaction costs and faster withdrawals across a wide variety of cryptocurrencies, including but not limited to: BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), LTC (Litecoin), BCH (Bitcoin Cash), USDC and DAI. These cryptocurrencies, attended by a widening range of stablecoins, alt-coins and even virtual tokens, will attract and empower a host of new players who hold and want to play in these popular alternatives to fiat, underpinned by a responsive real-time exchange mechanism.
Accordingly, players can now both keep their wallet in cryptocurrency, and also play in traditional fiat money. As a result, most games on the QTech platform are now available for play, not only those games which support crypto.
The move tracks surging underlying demand and a buoyant atmosphere in the crypto community, whose optimistic outlook has been bolstered by further recent gains. Indeed, QTech clients are now finding that those crypto customers who have accrued capital gains are more eager to take chances across the gaming verticals.
QTech Games’ backend that provides operators with the ability to manage player registrations, payments, promotions, marketing, and other key functions, is supported by one of the strongest technical teams in the industry, making the back-office a scalable tool which grows with the operator.
Ulf Norder, CCO at QTech Games, said: “This is a timely crypto-to-game currency innovation, including the possibility to create virtual currencies as well. It’s essentially two features in one: players can deposit into their wallets as normal, convert their balance into any currency (coin, token, or play games which aren’t bespoke crypto games) and then play as usual, safeguarded by our unique real-time exchange mechanism.
“The gambling industry was one of the original pioneers in the use of crypto, and opportunities still abound, both for our partners and their players. By this, I naturally refer to the recognized advantages around speed and security, but also the savings our clients can then pass on to the consumer for a better experience all round. Players can benefit from fairer margins compared to fiat-money operators, who have to pay substantial costs for conventional payment-processing and chargebacks. On sportsbook, that might mean better margins – or, on casino, better promotions. Everyone benefits.
“As the leading distributor across developing territories, we want to help educate our partners, improve adoption rates, and unpack the day-to-day needs of the customer, so we can service them. They want speed, flatter learning curves, and tighter security. As a result, we’re now giving it to them. It’s as straightforward as that.
“Our commitment to rolling out high-quality content remains undimmed, but crypto is a progressive ally in driving revenue for our partners. So, it’s a real thrill to partner with more and more ambitious digital casinos, who are looking to disrupt the space through cryptocurrency innovation, underscored by QTech’s quality product line. This is just the beginning.
“Of course, none of this means going all-in and converting everything into blockchain. But an edge and an understanding can be secured by simply integrating crypto as a new payments pathway. Ultimately, every scarce asset will be “blockchain-ified” – be it a stock, a fungible dollar or a non-fungible token (NFT). It all goes on chain and can take traditional banks and charges out of the equation. Blockchains are radically egalitarian because every user becomes a root user.”
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Award-winning iGaming supplier in regulated markets Delasport has just signed a sports deal with Philippines’s number 1 operator OKBET.
The leading software developer will provide sports-services to their new partner, enhancing the experience of sports bettors in the Philippines even further.
“We’re proud to supply our services to such a strong partner as OKBET, and to an exciting and steadily growing market as the Philippines”, Delasport’s CEO Oren Cohen Shwartz comments on the agreement.
Regulated Philippines is marking a stable 5% year-to-year growth with the number of users expected to reach almost 6 million by 2029.
This is yet another deal for Delasport, with the global supplier’s expansion in regulated markets happening at full force.
Same goes for OKBET who have been holding the number one operator spot in iGaming in the Philippines for a long time now.
“I’m excited that OKBET and Delasports are joining forces to redefine the landscape of online sports gaming in the Philippines”, OKBET’s COO Wayne Thong also comments on the deal. “This partnership combines OKBET’s local market expertise with Delasports’ global industry leadership, creating new opportunities for innovation and customer satisfaction. OKBET and Delasports share a common vision for the future: a vibrant and dynamic platform that caters to the diverse interests of sports enthusiasts. By combining cutting-edge technology with a deep understanding of user preferences, this collaboration aims to set new standards for the industry.”
The post Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET appeared first on European Gaming Industry News.
President of Uzbekistan Shavkat Mirziyoyev has signed a decree on April 19 titled “On Measures to Improve the Regulation of the Organization and Conduct of Lotteries and Risk-Based Games in the Republic of Uzbekistan”. The document abolishes the ban starting from January 1, 2025, and introduces a legal framework for the organisation of risk-based games online and betting activities.
The issue of legalising betting activities has been a long-standing topic in Uzbekistan. In December 2019, the president signed a decree to legalise bookmakers, but this decision was revised in April 2022. In April 2023, the head of state instructed the development of a regulatory framework for betting activities.
The National Agency for Advanced Projects (NAAP), the authorised state body for regulating and licensing activities in this sector, provided insights on the necessity of introducing state regulation in the gambling sector in Uzbekistan. The agency emphasised the need to prevent illegal gambling businesses, protect players’ rights and generate additional income for the state budget.
The president’s decree aims to introduce advanced foreign experience and modern technologies in regulating the organisation of risk-based games and lotteries to increase investment attractiveness, tourist potential and attract additional funds to the country.
The measures outlined in the decree include the creation of legal foundations for the legalisation of activities related to risk-based games online, betting activities, and lotteries, implementation of mechanisms to protect citizens’ rights and interests, prevention of gambling addiction and the generation of additional state budget revenue.
Starting from January 1, 2025, a taxation system will be introduced for license holders, where organisers of online games, betting activities and lotteries will pay a turnover tax. This system aims to prevent the concealment of taxable revenue and is expected to generate additional tax revenues for the state budget.
Overall, the implementation of the decree is intended to establish a reliable foundation for the legal regulation of activities related to organising risk-based games online, betting activities and lotteries in Uzbekistan, protect citizens’ interests, combat gambling addiction and provide additional sources of income for the state budget.
The post Uzbekistan Legalises Online Betting and Lotteries appeared first on European Gaming Industry News.
Indonesia’s Ministry of Communications and Information Technology (Kominfo) has revealed plans to establish a task force to combat online gambling.
In a statement, Kominfo said the task force would comprise representatives of multiple government agencies including the Financial Services Authority (OJK), Financial Transaction Reports and Analysis Centre (PPATK) and the police.
It will also work with Interpol to combat cross-border cases given the government’s lack of past success in blocking foreign operators.
“Kominfo will oversee the digital space, OJK will manage accounts and PPATK will handle fund flows, and the police will carry out arrest and investigation duties,” said Usman Kansong, the Ministry’s Information and Public Communications Director.
Minister Budi Arie said: “The Ministry has also issued a warning to all social media platforms, cellular operators and internet service providers not to facilitate any form of online gambling promotion. We have done everything within the authority of Kominfo.
“We from the Ministry of Communication and Information are fully determined. At the beginning of the week I gathered all our teams at Kominfo to work together to eradicate online gambling.”
The post Indonesia Establishes Task Force to Combat Online Gambling appeared first on European Gaming Industry News.
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