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Betting firms have responsibility to tackle esports corruption

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Gambling companies have a responsibility to stamp out corruption in esports, according to one betting industry official.

The reputation of esports has been harmed by scandals including match-fixing, cheating and underage gambling.

Recent examples include CSGO player forsaken being banned after using a hack in an ESL Premiership event and Clash Royale payer Jimit Bhatt being suspended for 12 months for cheating.

Lars Lien, founder and CEO of esports betting operator Luckbox.com, says the legitimate operators in the gambling industry have a duty to help clean up the reputation of esports.

Luckbox is a member of the Esports Integrity Coalition, which works to maintain standards in esports.

Lien said: “Gambling will happen and it’s a matter of making sure that responsible operators work together to stamp out match-fixing and to help prevent it. We have an integral role in eliminating that from our world.

“This is why we’re part of ESIC, where we and other responsible operators share suspicious alerts. So if we see betting patterns that are not consistent with a normal match, we report to ESIC and they will investigate the event in question. They work with tournament organisers, teams, they educate players, they work to stamp it out.”

 

Players need to understand the risks

Luckbox holds an Isle Of Man gambling licence, which offers esports fans the highest levels of security and protection to bet on Dota 2, CSGO and League Of Legends.

Lien said it was also important for esports fans to be aware of the risks when choosing where to bet.

He said: “Recently, there’s a Reddit post that a gaming company stole $500 from them. There might be legitimate reasons for seizing the funds of a customer, because match-fixing is a problem in every sport, including esports.

“That gambling company might have very good reasons for seizing funds but the difference is if that company had a good licence, the customer would be able to go to the Gaming Commission, file a formal complaint and the Gaming Commission would help the customer get the money back if that seizure was unwarranted. There’s legal recourse.

“Operators in jurisdictions such as Curacao, Cyprus, many others. There’s no recourse. I could borrow a Curacao licence if I wanted to.

“Esports has seen the skin-betting scandals where operators have let 12-year-olds play using their parents’ credit cards. Children don’t have the same understanding of gambling risks. Even with adults, you will have problematic behaviour.

“Betting should enhance your experience, it should not be the experience. If someone loses their house, that’s a bad thing, of course.

“This is also part of the distinction between the good guys and the bad guys. We have deposit limits, we have responsible gaming limits, we will make sure our players are over 18 and we will be looking for problematic behaviour, so we can help people not spend more on gambling than they can afford.”

 

Learning from the best

Lien said he was motivated to obtain the Isle of Man licence after working at PokerStars, which is also based on the island. In 2011, the US government banned online poker and PokerStars was able to return funds to players while rival Full Tilt collapsed.

Lien said: “You can either be one of the good guys, that has a proper licence, where all of the player funds are segregated from the funds of the company.

“We have what’s called a ‘client account’, which is similar to what a lawyer would have to keep the funds of their clients, that’s completely legally and physically separated from the funds of the business.

“I worked for PokerStars and the Department of Justice, in the US, decided they wanted to shut down the poker scene. They filed complaints against PokerStars and one of the competitors, Full Tilt. What happened?

“PokerStars, because they had taken licensing seriously from day one – they actively and intentionally got the strictest gambling licence in the world (the Isle of Man) – and as a consequence of that they were forced into having good corporate governance, good structures, good compliance. They were forced into doing things right and Full Tilt did not.

“So when the Department of Justice pulled the rug from under the industry, FullTilt collapsed. Customers couldn’t get their money, everything was black, no one understood how they would get their money back. They didn’t have the money, PokerStars did and paid everyone back in a matter of weeks.”

 Make sure to view the video where, Lars Lien, CEO of Luckbox, discusses the role of betting in the esports industry, and how proper regulation can solve the issues that it raises.

 

About Luckbox

Luckbox was founded by former PokerStars colleagues Lars Lien and Mike Stevens. Luckbox was built by a team combining vast experience in the igaming industry and a passion for esports to offer players unique and highly social platform for CSGO gambling, Dota 2 and League of Legends betting. Real Time Games Holding Limited – the company behind the Luckbox brand – holds a full licence under the Online Gambling Regulation Act (OGRA), issued by the Gaming Supervision Commission. Luckbox is a proud member of ESIC and is committed to supporting responsible gambling.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betting firms have responsibility to tackle esports corruption

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BetRebels chooses Red Rake Gaming

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Casino games specialist Red Rake Gaming, based in Spain and Malta, has agreed a partnership with BetRebels to offer the full Red Rake Gaming portfolio.

 

Malta based BetRebels has selected Red Rake Gaming as its newest partner to continue to offer their players the best in gaming products. Driven by giving their players a broad ranging experience in a secure and regulated environment, Red Rake Gaming are delighted to be included in this partnership. Red Rake Gaming, certified in Spain, Portugal, Italy and Romania with licenses in Malta and the UK, are very adept with the regulated landscape and can ensure players can have the best experience when playing on any of the popular titles on offer.

Commenting, Yiorgos Metaxas, Director of Rebels Gaming Ltd said: During the past 9 months, our Casino offering has been enhanced with new and innovative providers. The addition of Red Rake Gaming’s special content provides us the ability to add fresh and engaging games, full of intriguing features and mechanics that players love. Without a doubt, Red Rake’s content will prove to be very popular with our players.

Nick Barr, Managing Director for Red Rake’s Malta operations, commented on this agreement, saying: “I am thrilled that BetRebels have chosen Red Rake Gaming as their latest partner to help them deliver their mission to their players by providing outstanding content in a safe and regulated environment. This is a testament to the importance Red Rake Gaming place on regulated markets and sustainability in the online gaming space. We are very much looking forward to working with the BetRebels team.”

 

About Red Rake Gaming:
Red Rake Gaming, an online casino provider, offers a wide and varied portfolio of top performing games across various markets including Belgium, Italy, Spain, Portugal, Romania, Malta and the UK. As a boutique provider to the iGaming industry we pride ourselves on working closely with our partners to drive their revenues through our high quality game production, exclusive promotions and flexibility to accommodate their individual needs. Coming from a strong social background, Red Rake Gaming content has already been proven in the social casino space, with all the success’s from social applied to our real money gaming. Since its inception, Red Rake Gaming has experienced significant growth, and demand for feature rich games continues to strengthen. With over 30 top performing slots, video bingo’s, video poker and table games, Red Rake Gaming has games to meet all operators requirements.
For more information on industry leading content, please visit: www.redrakegaming.com


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BetRebels chooses Red Rake Gaming

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BUFF.bet unveils exclusive markets a month before the epic tournament The International Dota 2

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BUFF.bet unveils exclusive markets a month before the epic tournament The International Dota 2Reading Time: 2 minutes

 

A fantastic selection of markets has been revealed by the betting website BUFF.bet for the forthcoming Dota 2 tournament – The International 2019, which kicks off on August 20th at the Mercedes-Benz Arena in Shanghai, China. To go beyond the expectations of its numerous eSports aficionados across the globe, BUFF.bet unveils 17 exciting markets one month before the most anticipated Dota 2 event of the year.

By the end of this month, BUFF.bet will add three more markets that gambling fans can use right away. This will make the number of markets 20 altogether, all of which are powered by UltraPlay – the leading provider of eSports betting solutions. The traders of the company have come together to offer a unique odds portfolio for the most important Dota 2 event on a global scale.

The International has been won by eight different teams, in its first eight editions, so Dota 2 fans are always expecting a twist at the final stage of the tournament. Natus Vincere, Alliance, Newbee and Wings gaming won TI on their debut appearance, while Evil Geniuses and LGD Gaming have placed the most times inside the top four.

The Markets
The event already surpasses $30 million prize pool, which is the biggest in the history of eSports, topping the Fortnite World Cup, which takes place in New York from July 26th-28th. What’s even more exciting, though, are the markets players can choose from and feel the adrenaline of winning together with their favorite teams.
The community of eSports punters will be able to place their bets on alluring markets, including: Teams with most assists in a game, Team that wins – longest game, Team with highest kill average or fewest deaths in a game, TI9 prize pool, and many more.

Outrights, Odds, and Bets
In addition to the outright winner odds, gamblers will be able to select Region of Winner, Top China Team, Top EU Team, Top NA Team, and Top SEA Team.
Punters can already wager on the outright winner odds, where five teams have the highest chance for securing a victory – Team Secret, Vici Gaming, Virtus.pro, Team Liquid, and PSG.LGD.
Currently, Team Secret is leading the race to win the International, with BUFF.bet offering 3.58 in their favor.
BUFF.bet will cover the quickly-approaching International tournament with both pre-match and live odds for Dota 2 betting, during which punters can enjoy a whole new level of wagering, with the largest coverage of markets available for the event of the year.

About BUFF.bet:
Created with the mindset of a true eSports warrior, BUFF.bet is the perfect place for betting online using cryptocurrencies or fiat money. Providing the largest eSports coverage, the highest betting odds, exclusive sports betting markets, live casino, virtual sports, and thrilling slots, BUFF.bet offers you a level of betting experience unseen before. The betting website raises this experience further by offering the gambler’s latest delight – cryptocurrency payments. Discover more about it here: https://buff.bet/


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BUFF.bet unveils exclusive markets a month before the epic tournament The International Dota 2

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Nasdaq to Deliver Matching Engine Technology to the Football Index

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Nasdaq to Deliver Matching Engine Technology to the Football IndexReading Time: 3 minutes

 

Cloud deployed matching engine offers fixed-odds betting operator platform rich functionality via the Nasdaq Financial Framework

Nasdaq Market Technology business continues to gain momentum with New Markets initiative

Nasdaq Inc. announced today it has signed a new agreement with Football Index, where clients can buy and sell shares in professional footballers, and will provide the company with a flexible, cloud-optimized trading engine that offers rich functionality. As part of the Nasdaq Financial Framework offering, Football Index will join a growing list of new markets outside of financial services that are relying on Nasdaqs marketplace technology to accelerate their business growth and enhance the client experience.

The concept of what a market is has radically evolved over the past few years, something that Nasdaq as an operator and builder of markets has played an important part of first-hand, said Paul McKeown, Senior Vice President and Head of Marketplace Operators and New Markets, Market Technology, Nasdaq. We are focused on democratizing marketplace technology by offering essential components of matching engine technology traditionally used by financial markets, and bringing the capabilities to a cross-asset, cross-industry environment via the cloud. Football Index will use our matching engine technology to provide their clients with a platform to revolutionize how fixed-odds betting operates.

Nasdaq is a legendary brand, said Adam Cole, Founder and CEO, Football Index. We’re very proud and excited to work with them to provide our order matching service, which is the powerhouse of any exchange. Football Index has come a very long way in a short period of time. Our relationship with Nasdaq is another major step in our journey to establish Football Index as a world-class exchange, worthy of the world’s top footballers that are traded on it.”

Through the agreement, the Football Index joins a global community of marketplace operators that have access to a range of services through the Nasdaq Financial Framework including:

Comprehensive coverage of trading requirements

  • Coverage of trading in almost any asset class globally, from tokens on real estate to cryptocurrencies to contracts in a variety of industries
  • Real-time creation of new instruments and models as strategy evolves
  • 24x7x365 trading support
  • Complete functionality for market control, administration and supervision
  • Support for a broad array of protocols and interfaces

Reliable, proven, and high performance technology

  • Proven infrastructure with industry-leading throughput and performance to keep customers successful and operational, even under intense market conditions
  • Dynamic scaling for changes in number of users and order sizes
  • Flexibility to integrate third-party or proprietary solutions across transaction lifecycle to help preserve a company’s current environment and  future-proof system configuration

Reduced operational complexity

  • Software as a Service (SaaS) deployment enables faster time-to-market for an entire implementation, while Nasdaqs managed services model decreases a companys infrastructure burden by reducing the need to employ large technology teams to manage the solution.
  • Flexible, modular solution built for change, which easily scales to support higher volumes and expansion into new asset classes

Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.

 

About Nasdaq:
Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.com.

About Football Index:
In 2015, BetIndex Ltd launched the world’s first football stock market, Football Index, where traders can buy and sell shares in professional footballers with real money. The UK licensed gambling platform provides customers with an exciting alternative to the traditional sports betting markets. The first of its kind, Football Index is revolutionary in offering customers a chance to bet on the future success of football players, rather than gambling on the short-lived outcome of football matches. The platform operates with all the characteristics of a stock market, with traders buying units of footballers (known as ‘shares’), building their football portfolios and trying to sell at a profit. Traders win dividends on each share they own in players who are performing well on the pitch or trending in the media, with prices based purely on supply and demand.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nasdaq to Deliver Matching Engine Technology to the Football Index

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