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World Poker Tour Teams up with Blockchain Sportsbook

Posted on October 12, 2018October 15, 2018 by Kelley N.

The worlds of gambling and cryptocurrencies and bitcoin are colliding once again, as the World Poker Tour has teamed up with FansUnite Entertainment, an innovative new sportsbook that is powered by blockchain technology. This will be the WPT’s first foray into the blockchain market, while providing FansUnite with more exposure through a leading international poker brand.

A Multi-Pronged Partnership

We’ll be seeing FansUnite and the World Poker Tour collaborating in a number of different ways. Firstly, the two companies will be engaging in cross promotion on social media and international TV distribution will be provided to FansUnite through the World Poker Tour’s programming. FansUnite will also provide the WPT with promotional tie-ins from the Leicester City Football Club, the sportsbook’s official partner.

Another aspect of the deal will be in the introduction of “Plays of the Week”, on Super Channel’s Heads Up Daily. The show broadcasts news and features related to the eSports market, so this will be the first time the WPT will get involved with this emerging sporting industry.

As you can see, this will be a mutually beneficial partnership. Both the WPT and FansUnite will be able to expand their reach across new markets, promoting themselves to viewers who are currently unfamiliar with their products.

“The sports betting and blockchain industries continue to provide applications to the gaming world, and the World Poker Tour is proud to name FansUnite as an official partner,” says Adam Pliska, CEO of the World Poker Tour.

According to Darius Eghdami, the World Poker Tour has been on the forefront of gaming entertainment for the past 20 years, gaining instant name recognition and making it the perfect partner for the cryptocurrency-powered sportsbook. Pliska is just as thrilled with the deal, excited about introducing FansUnite to the millions of WPT fans and players around the world.

Poker and Blockchain, Working Together Once Again

This year has seen plenty of interaction between the blockchain and poker worlds. In September, the World Crypto Con at the Aria Casino in Las Vegas hosted a blockchain poker tournament. It was only the second time that the world markets interacted, after a similar blockchain poker tournament was hosted at the Blockchain World Conference.

Blockchain technology continues to be a be perfect fit as a partner in the poker market. The technology offers both online and land-based players a new way to experience their favourite game, and there is plenty of opportunity for more interaction between these two industries. The recent deal between the World Poker Tour and Fans Unite will only serve to strengthen the bond and make way for many more similar partnerships to be formed in the future.

“Imminent” Drop of Bitcoin on the Horizon

Posted on October 4, 2018October 4, 2018 by Kelley N.

Bitcoin is known to be volatile, but things are about to get really crazy for the popular cryptocurrency. According to experts in the field, the price of bitcoin is about to drop drastically and they warn of an “imminent slump” in its value.

Why Has a Slump Been Predicted?

Yesterday, the price of bitcoin was $6571, which was the highest we’ve seen in quite some time. Over the course of 24 hours, the price dropped by 2% to $6436. According to experts, a drop below a key price point is called “horizontal support” and it may be a sign of bitcoin’s value dropping significantly in the near future.

Cryptocurrency expert Nikola Lazić states that the situation “could get really bad”, and bitcoin could reach a “lower low” below $5767. However, bitcoin still has a healthy floor price, which means that the market is invested in the growth of the cryptocurrency. So, while a slump may be on the horizon, it is likely that bitcoin will be able to bounce back quickly, or that it won’t be a huge decline in the first place.

Still, some investors are confident that bitcoin will see a positive end to 2018. Tom Lee of Fundstrat believes that bitcoin has been holding, which could mean that the decline will start to reverse. It’s all speculation, however, and we won’t know for sure until bitcoin starts to move either upwards or downwards later this year.

A Very Volatility Year

Over the course of the past year, bitcoin has seen some huge ups and downs. Back in December 2017, the price of bitcoin nearly doubled to $19 800 but quickly dropped by 45% back down to $14 300. Yves Mersch of the European Central Bank compared bitcoin to buying flowers and having them wilt immediately.

Since then, bitcoin has seen plenty of movement in terms of price. In September 2018, the price of bitcoin plummeted about 10% from $7300 to $6300 and it has remained around that price for the past month. Now, we could be looking at an even further decline in the value of bitcoin.

Despite the difficult year that bitcoin has had, there is still no telling how the cryptocurrency will perform in coming months. We have plenty of arguments on either side, but bitcoin is known for being quite unpredictable.

So, if you have any bitcoin in your online poker account, it might be a good idea to hold onto it for the next little while. Consider keeping it in your account until a little more information about whether or not bitcoin will continue to decline is confirmed.

UK Treasury Committee Says It’s Time to Regulate Bitcoin

Posted on September 20, 2018September 20, 2018 by Kelley N.

Lawmakers in the United Kingdom feel that it’s about time that bitcoin is regulated. They have highlighted the potential risks of trading and spending cryptocurrencies, and believe that the next step is to develop a framework that would protect users.

Protecting Consumers

A committee of MPs have come forward to urge London’s Financial Conduct Authority to supervise “crypto-assets”. They are concerned about the number of risks involved for investors. For example, the price of cryptocurrencies is incredibly volatility and there are few consumer protection protocols in place. There is also the potential for cryptocurrencies to be hacked and there is also the danger of it being used to launder money.

There are major concerns that individuals who choose to invest in cryptocurrencies are putting themselves in danger. While it is becoming more widely used around the world, there is still plenty of work that needs to be done in order to protect investors and ensure that bitcoin and other crypto-assets are safe to trade.

Nicky Morgan, Chair of the Treasury Committee says:

“It’s unsustainable for the government and regulators to bumble along issuing feeble warnings to potential investors, yet refrain from acting. At a minimum, regulation should address consumer protection and anti-money-laundering.”

The Right Decision

There are varying opinions in the debate of cryptocurrency regulation. Some experts state that regulation could help cryptocurrencies grow while other believe that it would stifle their growth. There are many different sides to the debate, and it is time for regulators to weigh the pros and cons of each option.

Some experts argue that cryptocurrencies won’t be able to grow without regulation. This is because many potential investors are wary of putting their money into bitcoin without knowing that they are protected.

There are others, however, that are concerned regulation could stop further development of cryptocurrencies. If regulators try to apply traditional rules to bitcoin, then there is the chance that it may limit the ways in which cryptocurrencies could branch out and innovate.

It will be interesting to see how the UK government plans to go about regulating bitcoin and other cryptocurrencies, if they decide to go that route. There are plenty of opportunities to help protect consumers using regulation but, at the same time, it would have to be done in such a way that cryptocurrencies can continue to grow and develop.

Plenty of work needs to be done before a working regulatory model is introduced. Lawmakers will need the input of developers, investors and bankers in order to create a framework that benefits all parties involved.

Bitcoin and Other Crypto Prices Plummet Suddenly

Posted on September 6, 2018September 6, 2018 by Kelley N.

We all know that cryptocurrency is a volatile market, but what just happened is ridiculous. Overnight the value of bitcoin and other cryptocurrencies like Ethereum and Ripple have dropped by about 10%.

A Big Crash

Over the course of the past 24 hours, the value of bitcoin dropped by $1065. Now one bitcoin is one work about $6313, as opposed to yesterday’s value of $7378.

There is no particular reason as to why the coin’s value dropped, but it could be related to Goldman Sachs’ announcement that it would not be opening a cryptocurrencies desk. Executives from the company noted that there was a lot more work to be done before it was ready to begin trading bitcoin, and that there were several factors outside of the firm’s control. It was shortly after that when the decline began.

The value of bitcoin has actually been on the rise for the past few weeks, so this recent decline comes as quite a blow. It is likely that the increase was due to Goldman Sachs’ original intention to begin trading bitcoin, causing investors to snatch up the cryptocurrency. Now that the firm has cancelled its plans for working with bitcoin, investors are likely to have started to sell off their bitcoin.

As a result of bitcoin’s decline, other cryptocurrencies have felt a knock-on effect. As bitcoin’s value continued to drop, so did Ethereum and Ripple. Both saw a fall in their value worth about 10%. Other smaller currencies have also seen a decline, with Litecoin and bitcoin cash falling by 4%. It seems that investors in these cryptocurrencies have taken bitcoin’s decline as a sign that all digital spending methods are not viable for trading on a traditional level.

Advice for Bitcoin Poker Players

If you’re a poker player using bitcoin, then it might be a good idea to keep your coins where they are right now. It might be wise to wait until the price climbs back up before you withdraw any of your winnings. Since cryptocurrencies are known for being quite volatile, it is likely that their value will increase again soon, so be sure to keep an eye on their prices for the time being.

Poker continues to be a popular market for bitcoin, as players appreciate the anonymity and safety awarded by the cryptocurrency. It is easy for players to instantly deposit and withdraw to their accounts, and it makes for a unique way to experience online poker games. We anticipate that the popularity of bitcoin will spread to other areas of the online gaming world, and that the value will bounce back after this recent decline.

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