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Blockchain In Online Gambling: 12 Startups To Watch In 2019

  • 28 January 2019
  • Sam Mire

Gambling has been “illegal” since approximately 1910, when virtually all forms of wagering were banished to the seedier corners of life. Some jurisdictions have legalized it as big business since then, but the rise of technology poured gasoline on the fire — you can use the internet to play poker, place bets on sporting events and presidential elections, and even make a bet on when your favorite celebrity is going to die.

Where betting used to be illegal, the internet provides a place to bet legally on nearly anything. Increasingly lax regulatory attitudes toward gambling have helped spark innovation in the sector.

Online gambling attracts innovators by being such a lucrative industry, and many of these innovators are looking to blockchain technology for an advantage over the competition. This technology has unlocked concepts such as micro-betting and automatic payouts via smart contracts.

The blockchain is helping improve on legacy models for online gambling. The following companies to proving disruptive within the online gambling space.


ZenSportsZenSports

ZenSports, a peer-to-peer digital sports betting marketplace, that allows users to create their own bets and engage in wagers with a global pool of competitors. Using ZenSports’ SPORT Token, users can add funds, pay out funds, and cash out in a way that is cheaper and quicker than most legacy sports betting platforms. Smart contracts ensure that all wagers are honored, eliminating the element of trust that is necessary in other peer-to-peer formats.

Date Founded: November 2016

Funding Type: ICO


EdgelessEdgeless

Edgeless is the first Ethereum-based online casino to use smart contract technology to ensure payouts. With 0% house edge – a rarity in the space – and other features such as instant withdrawals and a number of games including Baccarat, Dice, Blackjack, Crash and, in the future, sports betting, Edgeless is establishing a foothold in the digital casino space.

ICO: February 28, 2018

Funding Type: ICO


TombolaTombola

Tombola is a cryptocurrency-enabled lottery and gambling platform based on blockchain technology, and professes to be the first of its kind. Users purchase digital tickets using virtual currencies, then wait as blockchain algorithms randomly determine the victors of the lottery. Upon winning, prizes are automatically paid out using smart contracts. The platform notably promises transparency, no fees, and fairness.

ICO: August 1, 2018

Funding Type: ICO


BethereumBethereum Limited

Bethreum, aka Bethereum Limited, is a Hong Kong-based, blockchain-powered betting platform marketed as ‘the most engaging and secure betting platform on the market’. One of the key aspects of Bethereum is its sociality, which allows bettors to create their own wagers and directly proposition friends or strangers. Their iOS prototype is currently downloadable.

Date Founded: March 17, 2017

Funding Type: ICO


BetKingBetKing

Opened in April 2013, BetKing is one of the first cryptocurrency casinos. Their mathematically-based dice games aren’t the most diversified or user-friendly of the online crypto casinos, but their early share in the market, proven user base, and provably fair algorithms have allowed BetKing to maintain a strong foothold in the space.

Date Founded: 2013

Funding Type: ICO


HerosphereHerosphere

Herosphere allows e-sports enthusiasts to put their money on the line, wagering on games such as League of Legends, CS:GO, and Dota 2 using digital currencies. The platform will also allow users to play the games themselves, utilizing the security and assured payment protections of the blockchain’s smart contracts to create a fair, competitive marketplace for wagering gamers.

Date Founded: 2017

Funding Type: ICO


UnikoinUnikoin Gold

Dubbed the ‘world’s first gaming utility token’, Unikoin Gold is a product of the Unikrn team, which consists of gamers and cryptocurrency enthusiasts. Unikoin Gold is tailored for betting on e-sports, with the blockchain serving to allow bets to be laid quicker and more securely. Users can choose UMode, which allows them to be on themselves, tournament mode, betting on other teams or players, and can earn more rewards by adding personal Fortnite, CS:GO, Dota 2, or League of Legends accounts to the book.

Date Founded: 2014

Funding Type: ICO


WagerrWagerr

By eliminating intermediaries and relying upon the blockchain to hold funds in escrow, determine winners, and payout bets, Wagerr wants to provide a decentralized betting alternative with fewer fees and guaranteed payouts. Free from regulatory bodies, peer-to-peer bet-enabled, and promising a decentralized, global betting marketplace free of red tape, Wagerr is banking on the world’s betting populace being drawn to their value proposition.

Date Founded: 2016

Funding Type: ICO


CoinPokerCoinPoker

CoinPoker specializes in one game, and you likely guessed which that is considering the name of the decentralized, blockchain-enabled gaming and wagering platform – yep, it’s poker. CHP tokens are the basis of quick, easy payouts and deposits. The platform comes with all of the thrills and frills typically associated with online poker, including promotions, head-to-head wagers, and other features. Plus, guaranteed anonymity, high-level transparency, and other features provided by blockchain.

ICO: January 19, 2018

Funding Type: ICO


LetsBetLetsBet

LetsBet is a decentralized app built upon the Ethereum blockchain, and its aim is to provide a decentralized, peer-to-peer platform for bettors who prefer not to pay fees to online casinos or bookmakers. While the game offerings remain unclear at this point, the underlying concept – a blockchain-enabled platform where wagers can be created and engaged in with peers – is one that has much promise. Like so many platforms, however, the devil is in the details.

ICO start: July 7, 2018

Funding Type: ICO


BETRBetterBetting

Focusing on sports betting, BetterBetting has launched its BETR token, which will allow its peer-to-peer betting and guaranteed payment structure to become a reality. They are marketing themselves on features such as a larger pool of eligible jurisdictions, provably fair algorithms and payment structures, instant access to winnings, few to no fees, and fairer odds. Fewer intermediaries, with the blockchain filling their void, means lower costs for all parties, which also means greater earnings for winners.

ICO: December 15, 2017

Funding Type: ICO


CashBetCashBet

CashBet is a mobile-first iGaming platform for cash, social, and skill-based gaming. CashBet aims to provide an enterprise solution for player segmentation, player management, bonusing, campaign management, eWallet, and geo-verification features. They use modular development strategy to keep the platform open for existing online gambling providers. They are cryptocurrency enabled and hope to be leaders in the growing crypto gambling ecosystem.

Date Founded: December 21, 2012

Funding Type: Private

About Sam Mire

Sam is a Market Research Analyst at Front Lines Media. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.

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