Cryptocurrency
How Crypto Can Improve Sport Betting
Sport betting is what is known as gambling. While it can be fun, it is also an activity for which there is no skill involved, and all that determines the outcome of the event being wagered upon are chance. There is no guaranteed time period over which you will be able to make money with sports betting since luck plays a huge factor in determining how much your bet stands to gain or lose. The thing that makes sports betting so popular despite its unfair nature is that people know and trust the odds makers who set up bets, to begin with.
Anyone can become a bettor but not everyone can become an odds maker. Despite this new age problem, cryptocurrency developers have come up with solutions that will address some of these problems in the traditional sport betting industry through the use of blockchain technology and smart contracts. This will create a more secure sports betting system that rewards the bettor and make bookmakers fairer. One of these new-age ideas is being developed by an ambitious team called Surebet.
They intend to tackle the problem of unfair bookmaking with their decentralized, smart contract-based platform. How? This is through incentivizing the users who play against them, just like what blockchain does for its miners. This has excited those who are engaged in online gambling. The creation of this new platform will be done through a token sale happening on November 1st, 2017 where you can get yourself some SBETS tokens (SureBet’s cryptocurrency). Their crowdfunding goal is 4,946 ETH which isn’t very high given the size of their project so far.
Spearheading their project is Ian Sbrano which has proven himself in the past through his successful company named Sports Betting Bot which allows everyone to participate in sports betting through artificial intelligence programs that he created. And by doing so, the users who use it will profit from accurately predicting sporting events whether it be in the short or long run.
They have been smart about how they go about this because of the fact that they are not trying to counter illegal bookies and online casinos but rather compliment them to provide more entertainment for all gamers (pun intended). So far, they have completed many successful projects such as Footballmastermind.
Crypto Enhances the Security of Sports Betting
The conventional sports betting at bet365 will now become better, with the introduction of cryptocurrencies. This enhancement allows bettors more flexibility and security when placing their wagers than they were able to have in the past. Bettors will also be able to get a return on their bets by using Nectar, which is what Sir Richard Branson’s Blockchain start-up has coined as the “Sports-betting cryptocurrency that powers the leading global fantasy sports platform.”
Nectar provides another way for users to earn rewards just by playing fantasy football and other games of skill such as darts, golfing, or any type of game you can think of! In order for gamers to use this currency, they need to satisfy some basic criteria: They must follow @NectarPlatform on Twitter and retweet one of our tweets containing #nectar, and also join our Telegram group. Nectar.org is a platform that will allow users to bet on anything they want, from politics to sporting events and even the weather! If you place smart bets, you’ll earn Nectar which can be traded in for prizes or exchange for cash.
Sir Richard Branson has been known to invest in a variety of different companies over the years but his latest venture into the online gambling industry could turn out to be his most lucrative yet. In order to guarantee success, he hired David Sapper as CTO who believed blockchain technology can help reinvent how fantasy sports are played and provide an additional layer of security against any potential threats such as bots.
Safe Sports Betting with Crypto
There are risks with online gambling which persist to this day so how can you be sure your money is going where it’s supposed to? Trusted third-party services known as bookmakers are one way of ensuring any disputes will be taken care of in a fair manner. They use blockchain technology, an immutable ledger for recording and verifying transactions that enable fully transparent book-keeping which leaves no room for corruption or foul play. Anything stored on the blockchain cannot be altered by anyone after it’s initially published because doing so would require hacking the entire network at once, something virtually impossible.
When creating CashBet Coin (CBC), a cryptocurrency based on Ethereum, CashBet recognized there were still risks such as unpredictable charge-backs. All these are challenges that blockchain technology seeks to address and improve the security of gamblers.
Conclusion
With the introduction of crypto to the sports betting world, there will be a sudden shift and demand for this type of activity. This is one of the ways that more people will gain knowledge about online gambling.
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BC.GAME
BC.GAME Wins “Best Crypto Casino” at SiGMA Central Europe Awards 2025
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Global crypto entertainment brand BC.GAME has been named “Best Crypto Casino 2025” at the SiGMA Central Europe B2C Awards, held this year in Rome. The result has been published via SiGMA’s official channels and industry media, with BC.GAME listed among the winners in the cryptocasino operator category.
As part of the SiGMA Central Europe 2025 event in early November, the B2C Awards focused on operators that have shown notable performance in online entertainment and sports betting over the past year. The “Best CryptoCasino 2025” category is specifically dedicated to platforms built around crypto assets as a core feature of their offering.
According to award-related communications and public review sources, BC.GAME’s recognition is linked to its integration of crypto payments, multi-vertical product line-up and ongoing development in Web3-oriented use cases. Several third-party reviews have highlighted BC.GAME as a representative example of a platform that supports multiple cryptocurrencies, combines casino and sports content, and designs features with on-chain users in mind.
BC.GAME noted that the award serves as a form of interim feedback on the platform’s long-term commitment to the crypto segment. The company plans to continue improving the user experience around crypto payments, cross-device product performance and content operations, while expanding sports and esports-related partnerships in markets where such activities are permitted by local regulation.
As a crypto-native operator, BC.GAME incorporates mechanisms such as provably fair verification into its product design and combines these with a native token and promotional structures to deliver an integrated casino and sports experience for crypto community users. With continued nominations and awards within the SiGMA framework and other international programmes, BC.GAME is increasingly regarded as a long-term player in the crypto entertainment vertical.
The post BC.GAME Wins “Best Crypto Casino” at SiGMA Central Europe Awards 2025 appeared first on European Gaming Industry News.
Compliance Updates
Romania Bans Polymarket Over Illegal Cryptocurrency Betting Activities
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Romania’s National Office for Gambling (ONJN) has officially blacklisted Polymarket, a prominent prediction market that allows users to bet on future events, citing its operation as an unlicensed gambling platform. The decision comes amid heightened concerns over crypto-based betting during recent election cycles, where Polymarket reportedly saw trading volumes surpassing $600 million.
ONJN asserts that Polymarket’s “counterpart betting” model – where users wager against each other on future outcomes – falls squarely within the scope of Romanian gambling regulations. The regulator clarified that regardless of whether bets are placed using fiat currency or cryptocurrencies, they are legal gambling activities that require appropriate licensing. ONJN President Vlad-Cristian Soare emphasised that the issue is about compliance with the law, not technology, stating, “It’s about the law, not the platform’s blockchain foundation.”
Although Polymarket promotes itself as an “event trading” platform, ONJN concluded that its operational structure – where users place bets on the outcomes of unpredictable events and the platform earns commissions – meets the legal criteria of gambling. Consequently, Romanian internet providers are now mandated to block access to the platform.
The post Romania Bans Polymarket Over Illegal Cryptocurrency Betting Activities appeared first on European Gaming Industry News.
AUSTRAC
AUSTRAC Cracks Down on Cryptolink for Late Reporting
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AUSTRAC has issued Cryptolink an infringement notice of $56,340 and accepted a court-enforceable undertaking that addresses the company’s AML/CTF deficiencies.
The action follows AUSTRAC’s Crypto Taskforce identifying late reporting of large cash transactions and weaknesses in the company’s money laundering and terrorism financing risk assessments.
AUSTRAC CEO Brendan Thomas said the package of infringement notices and the enforceable undertaking is designed to ensure useable intelligence does not slip through the cracks.
“The infringement notice addresses previous non-compliance around reporting and the enforceable undertaking seeks assurance that Cryptolink has improved its risk assessments and strengthened its AML/CTF controls,” Mr Thomas said.
“Crypto ATMs are one of the highest risk money laundering channels in Australia at the moment. They are being exploited by criminals to launder money and move scam proceeds. This is not conjecture. It’s what our Crypto Taskforce observed and has been backed up by the work of our law enforcement partners.”
As part of the enforceable undertaking, Cryptolink must engage third party reviewers to:
• validate whether the business has reported all required threshold transactions to AUSTRAC
• assess whether the business has implemented effective controls for large cash transactions
• review Cryptolink’s money laundering and terrorism financing risk assessment to ensure it is fit-for-purpose.
Cryptolink has fully cooperated with AUSTRAC and paid the infringement notice in full. Payment of an AUSTRAC infringement notice is not an admission of liability.
The enforcement action comes after intensive engagement with crypto ATM operators since late 2024.
Working in partnership with law enforcement, AUSTRAC’s Crypto Taskforce estimated that 85% of transactions made by the 90 most prolific crypto ATM users were the proceeds of scams and money mule activity.
“Scams are one of the biggest drivers of suspicious activity and criminals have been using crypto ATMs to move and cash out stolen funds,” said Mr Thomas.
A recently released Australian Institute of Criminology report found more than 40% of cybercrime victims are revictimised, often within months.
“With this in mind we want people to be cautious of making transactions to any wallet they don’t control and thinking twice in circumstances where someone asks you to deposit money into a crypto ATM.”
The second stage of the Crypto Taskforce is focussed on high-risk operations.
“Criminals don’t care how they hurt people, they care about making money,” said Mr Thomas.
“We want to work with the digital currency exchanges to harden the sector against exploitation but if operators don’t take this seriously, we will take action.”
The post AUSTRAC Cracks Down on Cryptolink for Late Reporting appeared first on European Gaming Industry News.
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